Digital transformation has become a buzzword in recent years, and for good reason. Companies that embrace digital technologies are more likely to stay ahead of the curve, differentiate themselves in the marketplace, and meet the evolving needs of their customers.

The benefits of digital transformation can be far-reaching, from improved customer experience to cost savings and increased efficiency.

In this blog, we will explore the various benefits of digital transformation, and why it is essential for companies to embrace this trend in order to remain competitive in the digital age.

What is Digital Transformation?

Digital transformation is a term used to describe the process of transforming an organization’s business model and operations through the use of digital technologies. It’s important because it can help you stay ahead of your competition, improve customer experience and attract new customers.

The benefits of digital transformation include:

  • Improved customer experience: Digital transformation can help you better understand and meet the needs of your customers. With the use of data analytics and other digital tools, you can gather insights into customer behavior and preferences, and tailor your products and services accordingly.
  • Increased efficiency and productivity: Digital transformation can automate many processes, reducing manual labor and freeing up staff to focus on higher-value tasks. This can lead to increased efficiency and productivity across your organization.
  • Competitive advantage: By embracing digital technologies, you can stay ahead of your competitors and differentiate yourself in the marketplace. This can help you attract new customers and retain existing ones.
  • Cost savings: Digital transformation can help you reduce costs by streamlining processes and eliminating unnecessary steps. This can lead to significant savings over time.
  • Innovation: Digital transformation can open up new opportunities for innovation and growth. By embracing new technologies and ways of working, you can develop new products and services that better meet the needs of your customers.

See how JR Automation saved seven figures with embarking on their digital transformation journey:

JR Automation saves millions with digital transformation – Case Study

Creating a Digital Transformation Roadmap

The first step to creating a digital transformation roadmap is to identify the scope of your transformation. What are you trying to achieve? What are the goals and objectives of your business? How will you measure success?

Once this has been determined, it’s time to set up a timeline for achieving those goals.

Once these steps have been completed, it’s time for action! You should now have a clear idea of what needs changing within your organization and how long it will take before those changes become visible.

Building a Digital Transformation Team

When you’re building your digital transformation team, it’s important to define roles and responsibilities. You’ll want to make sure that everyone understands their role in the process and what they are expected to do. For example, if someone is responsible for monitoring the performance of shop floor machines, they should know what the ideal OEE is of each machine, how they are going to collect that data, and how they are going to distribute it to enterprise decision makers.

It’s also important that you select team members who have complementary skillsets and experience levels. If one person has extensive knowledge of augmented reality while another knows nothing about it at all, this could lead to problems down the line when it comes time for them both to collaborate on projects together – and no one wants that!

Finally, creating a culture where collaboration happens naturally between team members will help ensure successful outcomes throughout your digital transformation project(s).

Adopting the Right Technology

The first step in digital transformation is choosing the right technology. You’ll want to consider:

  • Software: What are your current needs and how will they change over time? Will you need additional features or functionality?

  • Hardware: Do you have enough computing power and storage space for all of your data, or does it need to be scaled up or down depending on usage patterns at different times of day/year/etc.? Do you have sensors to track data that you need for production insight?

  • Tools: What tools do developers use to build applications on top of this platform (e.g., Creo vs. Solidworks)? How easy is it for them to integrate their code with existing systems like databases and messaging queues? Are there any security issues with using these tools – and if so, how can they be mitigated by using another tool instead (e.g., switching from MySQL database server software to Microsoft Azure).

Developing a Digital Transformation Strategy

The first step to developing a digital transformation strategy is to define the scope of the project. What are you trying to accomplish? What are your objectives, and how will you measure success?

These questions can help guide your organization through its transformation journey by setting realistic goals for both short-term wins and long-term gains.

Once you’ve defined what needs changing, it’s time for step two: defining how those changes will happen. This involves creating an action plan that includes timelines for each phase of implementation as well as resources required for each stage (e.g., time from IT staff).

Some companies may choose to tackle multiple projects simultaneously; others might choose only one area at a time depending on their resources available in terms of money/manpower/etcetera).

EAC Assessments help companies answer all those questions and how to get where they want to be.

Implementing the Digital Transformation Plan

  • Develop a timeline. The first step in implementing your digital transformation plan is to develop a timeline with milestones that will help you track progress.

  • Set goals and objectives for each milestone. Once you’ve established your milestones, it’s time to set goals and objectives for each one of them so that everyone involved knows exactly what needs to be done at any given time during the project.

  • Track progress regularly by reviewing dashboards or reports generated from data collected during testing phases of development projects (if applicable). It’s important not only for managers but also employees on lower levels within organizations who may not have access

Monitoring and Evaluating Performance

Monitoring and measuring performance is an important part of the digital transformation process. It allows you to identify areas where you are successful, and areas that need improvement.

Monitoring can be done using a variety of tools, including:

Adapting and Adjusting the Plan

As you progress through your digital transformation, there will be changes in the market that you need to respond to.

If a competitor introduces a new product or service, or if something happens in the industry at large, it may change how you approach your own strategy.

You might also find that your goals and objectives have changed since they were first set out; perhaps there’s been an increase in customer demand for something specific that wasn’t previously considered important enough for inclusion on the list.

The best way to handle these situations is by reviewing them regularly with other members of your team – and making sure everyone has input into decisions about how best to adjust course as needed.

Communicating the Benefits of Digital Transformation

In order to communicate the benefits of digital transformation, it’s important to understand who your stakeholders are and what they want.

If you’re working in an organization with a large number of stakeholders (such as a government agency), then there may be multiple groups that need convincing. For example:

  • The board wants to see results from their investment in IT infrastructure. They’ll likely be interested in metrics such as ROI and cost savings.

  • Executives want quick wins that will help them achieve their goals, but they also need proof that this new approach will work before they can commit time and resources to implementing it throughout the organization.

  • Employees want something tangible they can hold onto when explaining why this change is important for them personally (and why it matters).

Conclusion

Digital transformation is a powerful tool that can help you achieve your business goals. It’s important to remember that digital transformation is not just about implementing new technologies, but also about changing how you work and think as an organization.

Digital transformation requires commitment from everyone involved in the process – from the C-suite down through every level of your organization.

To be successful, it must be an ongoing effort rather than a one-time project or initiative. You will need to continuously innovate and improve what you’re doing if you want to stay ahead of competitors who are also pursuing digital transformation strategies.

In conclusion, digital transformation is becoming increasingly essential for companies to stay competitive and meet the needs of their customers in the digital age. However, the process of digital transformation can be complex and challenging, which is why EAC assessments can be extremely helpful.

By conducting an assessment of your organization’s current digital capabilities and identifying areas for improvement, you can develop a roadmap for digital transformation that is tailored to your specific needs and goals.

EAC assessments can help you identify gaps in your digital capabilities, streamline your processes, and develop new products and services that better meet the needs of your customers. By embracing digital transformation and leveraging the expertise of EAC assessors, you can position your company for success in the digital age.

Connected Solutions with IoT

The Factory of the Future is a connected world of everything.

We will explore the benefits of IoT in manufacturing, including asset monitoring and utilization, quality control, predictive analytics, automation, safety and compliance, OEE visibility and productivity, and more.

With IoT solutions, companies can achieve their Industry 4.0 goals and increase their bottom line.

What is the Internet of Things (IoT)?

The Internet of Things (IoT) is the network of physical objects, people and other assets that are connected to the internet. IoT allows you to collect data from devices and analyze it in real time.

The goal is to make processes more efficient by optimizing performance and reducing costs.

IoT can be used to monitor machines in factories, track inventory at warehouses or even monitor traffic conditions on roads. It’s also used for home automation tasks like turning off lights when you leave a room or adjusting your thermostat based on your location inside (or outside) the house.

IoT Ecosystems

An IoT ecosystem refers to the network of devices, sensors, software, and services that are interconnected and work together to collect, analyze, and act on data.

They are often utilized to gather data on connected assets, and tools in order to gain real-time insights into their condition for predictive maintenance purposes.

The goal of predictive maintenance is to detect and address problems before they cause equipment failure, downtime, or safety issues.

By predicting maintenance needs in advance, organizations can schedule maintenance during planned downtime, minimize the impact of maintenance on operations, and extend the lifespan of equipment.

Connected Products

A smart, connected product (also known as a smart object or SCoT) is a product, asset, or other object embedded with processors, sensors, software, and connectivity that allows data to be exchanged between the product and its environment, manufacturer, operator/user, and other products and systems[1].

Smart, connected products enable the comprehensive monitoring of a product’s condition, operation, and external environment through sensors and external data sources[2].

This technology stack provides a gateway for data exchange between the product and the user and integrates with other systems to enable a new level of customer experience[3].

Connected Factory

Similar to connected products, a smart, connected factory is a digitized manufacturing facility that uses connected devices, machinery, and production systems to continuously collect and share data.

This data is then used to inform and improve processes and proactively address any issues that may arise.

It is an interconnected network of machines, communication mechanisms, and computing power, which uses advanced technologies to analyze data, drive automated processes and learn as it goes. It uses the sensors and software of the connected products to bring together the factory floor.

A connected factory is implemented to track the overall equipment efficiency or effectiveness (OEE) of the factory.

A smart connected factory is the telltale sign of a manufacturing floor that is functioning at its most optimal ability.

Having access to data insights regarding production health helps companies optimize earnings and minimize production downtime.

Augmented Reality

Integrating augmented reality (AR) with IoT involves using sensors and other IoT devices to collect data from the physical world, which is then used to augment the user’s experience in the digital world.

For example, AR can be used to display real-time data from IoT sensors, such as temperature or humidity, on a user’s mobile device. When a cell phone or tablet uses Augmented Reality (AR) to display data, it overlays virtual information on top of the real-world view seen through the device’s camera.

This can be particularly useful in industrial settings, where workers can use AR to monitor the performance of machines, detect any issues immediately, and take corrective action. This kind of data can be turned into a Digital Twin.

Digital Twin

With a Digital Twin, you create an exact replica of a working product, process, or service as a simulated model in a virtual space that performs under real-world conditions.

A Digital Twin in manufacturing helps companies find performance issues, schedule predictive maintenance, reduce downtime, and minimize warranty expenses.

This allows anyone to take a digital version of your factory with you anywhere in the world and know the exact, real-time data of how it is functioning. This is extremely helpful for decision-makers who often travel and need to know how their factories are doing.

Additionally, a digital twin of your factory helps maintenance teams find precisely where an issue may have occurred by giving them visual prompts of where the problem is originating from.

The Benefits of IoT in Manufacturing

IoT has a plethora of benefits for manufacturers that overall saves companies time and money, and solves frustrations with outdated processes and siloed data.

Bellow are different ways the IoT solutions could benefit your production process:

Asset Monitoring & Utilization (AMU) & Real-Time Production Performance Monitoring
  • Gain real-time insights from connected assets and legacy systems such as your PLM and ERP systems to align your IT and OT systems

  • Make more informed decisions faster

  • Increasing flexibility and agility

  • Monitoring the status of inventory in real-time

  • Quality Control

  • Monitoring Distributed and Outsourced Processes

  • Spare parts management

  • IoT sensors allow organizations to gauge the specific use and deploy practices for more effective usage of resources.

Machine Learning & Predictive Analytics

By integrating machine-learning capabilities there is a whole new level of predictive intelligence brought to the factory floor – identified problems and resolved issues with minimal impact on operational performance. Other benefits include: 

  • Detect problems before they occur

  • This helps to maximize factory production utilize data analytics to perform predictive maintenance

  • Optimizing Maintenance Schedules

Automation & Connected Work Cells (CWC)

In manufacturing, many processes are streamlined with IoT technology. For example, one IoT strategy is to use Automation. With IoT, using sensors allows you to automate certain tasks such as temperature monitoring or product tracking.

This means less time spent on manual labor and paper-based processes while increasing productivity simultaneously!

Safety & Compliance

Making sure that machines are running at a safe capacity and within the compliance standards creates a well maintained work area that brings employee satisfaction and confidence in a safe workspace.

All these things can be tracked through IoT technology, along with others: 

  • Increasing energy efficiency of machines

  • Reduce human errors

  • Ensuring Products Comply with Set Standards

  • Increased employee and customer satisfaction

OEE Visibility & Productivity

A factory enhanced by IoT solutions offer complete visibility into all of your factory operations. You can see all of your work orders, lines, and all critical KPIs through dashboards that pull together 

IoT sensors allow organizations to gauge the specific use and deploy practices for more effective usage of resources.

  • Cost reduction

  • Increase bottom line

  • Decreased Machine Downtime

  • Optimizing Factory Production

  • Reduced lead time

  • Improved efficiency

  • Improvement of Operational Performance

These are just some of the many ways companies can reach their goals with Industry 4.0. With out-of-the-box solutions or even custom IoT apps, the possibilities are endless.

Implementing IoT

The first step in implementing IoT in manufacturing is to identify your goals. Are you looking to improve efficiency, reduce waste or increase profitability?

Do you want to improve customer satisfaction by delivering products on time, or do you want to create new revenue streams with data collected from connected devices?

Once you’ve determined what kind of impact IoT can have on your business, it’s time to evaluate the current technology that’s not only available but that easily integrates with your current systems and shop floor.

Finally, develop an action plan for implementing these strategies broken down into digestible phases. It’s critical to understand what solutions fit best and most align with your unique business and prioritized initiatives.

Common Challenges

We hear from companies all the time regarding what challenges they feel stops them from implementing IoT in manufacturing.

The first is cost. However, with any good investment, the benefits of using IoT solutions offset the cost. While IoT ROI doesn’t happen overnight, the full impact IoT has on manufacturing organizations is tenfold.

NORMA Group met with EAC experts to understand what sort of impact an IoT initiative would have on their business growth and determined the challenges were well worth the wait – something we find other companies can relate to. Another early adopter, JR Automation was able to save $1.4 million by investing in IoT.

Security

The second common challenge that comes with implementing IoT is security. This includes both physical and data security issues that need to be evaluated and addressed before implementing any type of data management change.

Finding a solution with integrated automated tools and detailed monitoring is key to preventing attacks. Check out this article that talks further about data security and how PTC’s Kepware supports cybersecurity.

Data Management

Another challenge we see is considering how well your organization will be able to manage the new information coming from all over your facilities. It’s key you create a plan to integrate the new data flow into your existing systems.

With user-friendly IoT-connected solutions like PTC Thingworx, data is captured, consolidated into a dashboard, and presented in a consumable visual format for real-time insights.

Hardware

Another consideration is requirements: What sort of hardware do you have to support that software change? Replacing or updating existing systems and hardware to increase efficiency may be necessary to keep up with the fast pace environment of shop floors.

There is no doubt that these are important things to consider when making enterprise-wide changes. While implementing IoT can feel difficult and intimidating, it does not have to be.

EAC has a number of business assessments that can help you evaluate your current state and create a highly strategic roadmap to successfully scale your digital transformation initiatives.

Ultimately, Digital Transformation is a game changer for manufacturing companies who are unsatisfied with the “status quo” – and IoT will open up major opportunities for long-term success and sustainable growth that would not have been possible without making changes.

Connected Future

Empower your organization with enhanced connectivity to your products, systems, and customers.

IoT can provide significant advantages for manufacturers across the enterprise, but it is important to properly evaluate, plan and implement the right technology and the right solution at the right time in order to maximize the potential benefits.

Our IoT consulting and connect services provide comprehensive support from extracting valuable insights, and developing strategic plans to executing and implementing efficient IoT solutions that accelerate your digital transformation.

Chat with one of our experts on how we can help you identify the best IoT solution for your needs and how we can help your company implement it the right way.

Technology solutions available on the market today truly have the capability to empower you and your organization; especially during times like these where communication and collaboration are vital to your success.

Today, a high-performance workforce requires expensive training programs, equipment maintenance, travel budgets, and support systems. Yet, many are facing problems due to limited travel, social distancing, and enforced remote working policies.

Vuforia Chalk creates a new way to tackle these business requirements, and even better yet, we are offering free access to Vuforia Chalk for a limited time to help Manufacturing and Service organizations cope with the COVID-19 Crisis.

Vuforia Chalk Free Access Program

The Vuforia Chalk Free Access Program is available right now through August 31st, 2020. Fill out the form at the top of our Vuforia Chalk webpage.

Once you’ve filled out the form you’ll be auto-enrolled in our Vuforia Chalk Quick Start Program – a free consultative guide to get you started with the software on the right foot.

Get Vuforia Chalk for free

What is Vuforia Chalk?

Vuforia Chalk is an easy-to-use, powerful remote assistance support application that allows your workforce to collaborate in real-time, from anywhere. This application combines real-time video with advanced AR technology to create a simple and intuitive user-experience that anybody can use.

Why Vuforia Chalk?

The Vuforia chalk app is a great entry point for Augmented reality, especially when it comes to existing and long-standing workforces.

Why? Because it is simple and intuitive to use. This application requires a minimal amount of training, and doesn’t involve the use of specialized equipment, like many other Augmented Reality applications on the market today.

With Vuforia Chalk users are able to use mobile devices they already own today, meaning your most experienced minds are accessible anytime, anywhere.

How Vuforia Chalk enhances remote collaboration

Vuforia Chalk lets your employees share a live view of their workspace with an expert, or co-worker, allowing your workforce to easily connect for support or training.

With Chalk, simple instructions can help your team solve complex problems quickly and effectively while reducing costs and increasing technician efficiency.

Vuforia Chalk Webinar Replay

The AR application also allows both users with the ability to draw on the screen directly from their mobile device to provide instructions as if they were right there face-to-face.

With Vuforia augmented reality, your annotations stick exactly where they are drawn, even when you move around as you work. In fact, you can even pause the live view to draw easy to follow, multi-step instructions.

Chalk is ideal for service and training, as well as other forms of collaboration too.

It makes it easy for your team to work together or give feedback from almost any place in the world – saving you time and money.

Having your best minds on a job remotely allows your organization to:

  • Solve the problems right the first time
  • Reduce equipment downtime
  • Improve your bottom-line

With Chalk’s simple learning curve, organizations are now able to implement an AR strategy into their business quickly and effectively, allowing even the aging workforce to be able to learn to use the tool efficiently.

Start using Vuforia Chalk for Free

Get enrolled in PTC’s Vuforia Chalk Free Access Program by filling out the form on our Vuforia Chalk webpage – which will auto-enroll you in our Vuforia Chalk Quick Start Program. Here’s the guide for reference to see what to expect.

In light of recent developments – Our top priority is to protect the safety and health of our employees, customers and community and to help prevent the spread of novel coronavirus (COVID-19).

We are continuing business as we have for the last 24 years to serve our customer needs while also taking all the necessary precautions to keep our employees and customers safe.

However, we are minimizing larger gatherings, such as conferences, trade shows, workshops, and on-site meetings and training. We are offering customers the option of live video conferences and webcasts conducted online in a safe virtual space – we have found this to be very effective in most circumstances.

We want to help you overcome remote challenges

Productivity improvement, process optimization, and maximum return on investment have become the watchwords of industrial production worldwide, especially at a time like today.

Our organization has grown over the years by helping companies leverage remote access and monitoring connectivity solutions. In fact, almost everything we do helps enable remote access to data.

We invite you to explore options that may help your team overcome any remote challenges you may be experiencing. As we know it is critical to continue conducting business as usual during this time.

Vuforia Chalk: Quickly solve technical challenges via remote transactional AR app

Vuforia Instruct: Create powerful step-by-step instructions

Vuforia Studio: Create AR experiences to enhance sales efforts with virtual product demonstrations

EAC Productivity Apps: Avoid disrupting engineers with role-based access to product data

Design & Engineering Services: Overcome backlog of engineering projects

Remote Software Training: Help your team stay sharp during this transition with PTC certified training courses. We deliver everything from Windchill Administrator courses to training classes for specific PTC Creo tools and functionality.

Although our variety of solutions expands much wider than what we have highlighted in this article, we would love to help you navigate affordable solutions that could easily integrate with your business environment and help you work better remotely.  

If you have any questions or concerns, please feel free to contact us directly. We appreciate your ongoing support and look forward to assisting you in anyway we possibly can. 

Warmest Regards,

The EAC Product Development Solutions Team

Smart devices and connected products, like the Apple Watch, raise an interesting question, what are the implications of transforming traditional products into smart connected products?

Now that we have sensors, connectivity, big data, and analytics, customers and businesses are leveraging this value to create new opportunities – here’s how.

Remote Operations

Connected products can share their data with their users, and likewise with the manufacturer, unlocking new service opportunities.

For example, I have the Nest thermostat in my house. I can adjust the temperature on my way home from work just but using a simple app control.

For a Minnesotan like me, this is pretty awesome when you experience winters like we have.

Remote Services

From a company perspective, remote access services are very valuable as well.

For example, just like a smart thermostat, manufacturers can automatically send updates to assets. Or if maintenance is required, technicians can often save time and money by remotely connecting to devices to ensure software and hardware are performing effectively. This can avoid unnecessary service calls.

Innovative Product Designs

Another great use case is how companies can change their product design strategies.

For example, IoT enables a new design strategy known as evergreen design. The premise is that when products are operating in the field, new software features can be built and delivered to a device to extend functionality and the usable life of a product. The Tesla car illustrates this concept well. Tesla actually used an evergreen design strategy to avoid a major recall.

A few years back, there were several instances in which the battery cell of the car actually rubbed against street curbs as the car turned corners, causing fires. Instead of sending all the Tesla cars back to the dealer, or a mechanic shop, the company sent a software update that automatically raised the clearance of the car chassis where the battery was located.

Tesla’s evergreen design saved the company money, as well as customer time, and money associated with a traditional recall.

Big Data Analytics

Another big game-changer in business is the value to be had from big data. Now that products can share information throughout their product development cycle and useful life, there is, in essence, a stream of data that we can collect, analyze, and use to inform all sorts of business decisions.

Wouldn’t it be nice to know when the average daily usage of your products or product segments is in decline or incline? It could drive new product innovation timelines, customer success strategies, and new revenue from cross-sell and up-sell.

Data Collection & Analysis of Consumer behavior

The practice of using big data is not new. For example, in the retail market, companies are using purchasing behavior data to inform their business decisions.

What they found was surprising. A few days prior to the forecasted hurricane, people bought a significant amount of pop-tarts. In particular, strawberry pop-tarts. On the day of the hurricane, they bought more beer. Based on this data, Walmart adjusted their stock supply in anticipation of the new demand. This use case is unique in that data was originating from people’s shopping behaviors. What is different now is that we can collect and analyze data from products as well.

Remote Monitoring

Take the case of smart sports equipment. A friend I play golf with had a sensor attachment that told her about her swing, ball placement, and field location. So, as we were playing throughout the day, she was pulling out her golf app, observing her golf swing, and adjusting performance based on that data. This is great for the user, and there are also added benefits for the manufacturing company!

For example, the tennis racket company Babolat has sensors attached to their play pure drive product, which collects data about a player’s swing, the speed of their ball, and impact location.

Product to service transformation

Babolat also provides a training service, where based on the player’s performance, Babolat will provide consulting, hitting tips, and other development programs. In this use case, big data is transforming a traditionally hardware-oriented company into a service company as well.

This brings me to my last example, which illustrates a radical change in how businesses perceive product value.

Product-as-a-Service (PaaS)

Namely, products are now carriers for potentially limitless services based on how you creatively leverage their smart and connected elements. This concept is not new.

Products-as-a-Service have been pioneered in the aerospace industry.

For example, Rolls Royce licenses out their engines to airline customers, and they charge airlines for the millage of the planes as well as services associated with repair, and maintenance.

This is generally known as power by the hour. This product as a service concept is gaining a lot of attention in the IoT market.

For example, there is a big software battle for ownership of the car segment. Google, Apple, Microsoft, and the original car makers are attempting to get a slice of the services associated with cars, such as navigation, entertainment, and safety systems. This new service focus is really interesting for product development and associated business operations.

Bottomline – products are carriers of tremendous value. Now that we have sensors, connectivity, big data, and analytics, customers and businesses can leverage this value, and create new opportunities.

IoT Intro Class

At EAC, we want to make sure you don’t miss out on any revolution with respect to potential capabilities that you can add to your products- while we also realize the importance of basing your IoT initiatives around your mission statement. That’s why we created what we call our IoT Development Workshop.

We have made it our mission to help guide organizations like yours to explore and embrace the uncertainty of the emerging IoT market.

The future of digital transformation is happening now, and it is driving the future of all industries. This article highlights just about everything you need to know about the impacts and trends involving digital transformation.

No matter where your company resides on its digital journey – or even if you have yet to start with digital transformation, this article is just for you.

What is Digital Transformation?

Digital transformation refers to the concept of applying innovative uses of digital technology to solve traditional business problems.

For example, in a narrower sense digital transformation might refer to a simple concept such as ‘going paperless’. Yet, on a larger scale, it might refer to ‘achieving digital business maturity’.

Digital solutions not only enable organizations to achieve new levels of efficiency through automation, but they also open doors for creativity and innovation (rather than simply enhancing and supporting traditional methods).

Although applying the use of digital technology to solve traditional problems can offer numerous business advantages, many organizations have yet to begin the journey with digital transformation.

Digital Innovation: Where to Start?

With numerous applications, methods, and strategies, it can be difficult to know where to even start with digital transformation!

If this is the case with your organization, – don’t worry, you’re not alone.

According to a research study performed by Accenture and the World Economic Forum, 80% of executives stated they were completely convinced ‘digital’ advancements would fundamentally change and transform their industry within the next 5 years!

That’s right. Eighty percent! … And they’re not wrong at all!

In fact, digital technology has not only already begun to transform industries, but it has also started to transform the way the world experiences products. Despite the ability to recognize the effects that digital processes will bring, only 17% of the studied executives stated they had a strategy in place to address the challenge of digital transformation.

This left a shocking 87% to admit they had no current digital strategy in place whatsoever! This is exactly why, if you have not yet started your digital transformation journey, it’s important to realize A) It’s not too late and B) You are not alone. There is no better time to start than now!

Organizations are realizing the significant impacts that the digital transformation era brings and how it’s going to drastically change just about everything when it comes to the way we do business.

The Impact of Digital Transformation

The process of digital transformation is creating entirely new ways of doing business. It has begun to create new experiences for customers while adding entirely redefined value propositions for mature product segments.

This era of digital transformation has started to impact and define what products are and what they mean to businesses and consumers.

Product perceptions are changing

Digital trends have also started to influence purchase decisions and sales processes. As the digital world has advanced, the average consumer is making purchase decisions with a Product as a Service (PaaS) mindset.

This means the rise of digital transformation has driven consumers to be sold by the outcome of the product – the recurring value. Manufacturers can address this shift in the market demand archetype by embracing three technology categories – Internet of Things (IoT), analytics, and mobile.

The future and advancement of technology is happening now

Established power plays and industry lines are beginning to blur. You cannot wait until some time in the near future to start your digital journey.

If your organization is going to succeed going forward, you won’t want to be left behind in this new industrial revolution, or you will fail.

Whether or not you’ve noticed if your industry has been affected yet, the key message is the effect of these disruptive technologies doesn’t discriminate one sector or industry. Every industry will see a major impact due to these digital technology advancements… And it is happening right now.

‘Business as usual’ is no longer an option. Organizations must adapt in order to survive.

The future of Digital Transformation: Smart, Connected Products

Digital transformation is reinventing products. Products from cars, to jet engines, to pumps, to heavy equipment, to medication, and more!

Machines, assets, and devices are starting to communicate, learn, and react to newly accessible context as they exchange and leverage data from sensors.

We are talking about the area of ‘living products’ – meaning transformative products that are responsive, collaborative, reactive, and responsible. Whether products are B2B or B2C, there will be a totally different process in the way we think about how our customers are using our products in the near future.

The future is now. Don’t let the opportunity slip away.

The first step in your digital transformation journey should be a strategic one. Understand where you are, where you want to be according to your current framework or understanding, and where you’d like to be as you embrace future technology and evolve with changing markets and new opportunities.

EAC Product Development Solutions would like to help you begin your transformation. We provide the people, technology, and services to make any transformation successful. The first step should be a Product Development System Assessment (PDSA). This will help you understand the opportunity that lies in front of you. Request more information on the PDSA today and start taking your digital transformation seriously.

Product Development System Assessment | EAC Product Development Solutions

Our Product Development System Assessment will help you start your digital transformation journey