Which industries still need innovation in the digital realm?
The reinvention of the customer journey – in today’s era we are no longer making use of the traditional norms of executing operations and this has transformed the business landscape. With the fourth industrial revolution emerging and making its way into many aspects of our livelihoods from purchasing products, confirming a meeting, electronic payments, and much more – it is inevitable for any business to consider being at the forefront of the advancements in technology.
Large established companies are driving innovation in the digital realm, data analytics serve a much greater purpose for companies and their infrastructure with digital technology. We have witnessed many companies in various industries evolve and digitally transform, however, some industries still need to digital evolve and stay ahead of their competition.
Industries that still need to digitally evolve:
- Housing & Real Estate: fundamental aspects of this industry are highlighted in the retention of a client base and remaining competitive in the market. Creating better consumer experiences through incorporating big data to get valuable information on potential buyers and generate leads. Automating their processes to facilitate electronic contractual agreements and virtual tours that serve the 360-degree dynamic of targeting potential buyers in the market. Integration of smart home technology in some of the properties allows your real estate company to differentiate itself and establish variations of home designs as other aspects such as style, and features are value points for the potential buyer.
- Construction & Manufacturing: project management and the materials used to construct and formulate the end outcome of the project plan on a blueprint are inclusive of many steps and the key elements of how the world is digital shifting – the demand for efficiency of operations, mobilizations of processes play a significant role in construction and manufacturing. And luckily for many businesses out there who are considering shifting into the digital world, smart technology like 3D laser printing and Building Information Modeling (BIM modeling) exist and form part of the valuable tools to incorporate.
- Energy: an accelerator to reinforce a cleaner ecosystem, and catalyst for the emergence of new services. A great example of this is solar energy panels that act as “intelligent sensors” that generate electricity. They inevitably transform the efficiency, costs, and resources of ‘smart energy’ models. Digital innovation in this industry serves as an aggregator of supply and maintains income for consumers and revenue for businesses to contribute to other aspects of the business.
- Health & Safety: The smartwatch on your wrist, the tracking device installed in your car, sanitizing sensor at the grocery store are a few examples of how the world has evolved creating opportunities for self-services. And on a day-to-day basis, we encounter particular circumstances that would have been easier to maneuver and save time, and production costs, and maximize the intelligence of workplaces, social spaces, and the economy overall. Enhancing the capabilities in foreseeing danger, the risk to one’s health, and also within our surroundings.
Business intelligence is a critical element of what many organizations need to integrate into their strategies and how they can embrace the digital and generate success for their businesses in a digital-driven world.
Digital integration leads businesses to stay top-of-mind and opens up relentless opportunities for global communication and various audiences. Innovation in the digital realm is one of the pillars that has allowed businesses to continue operations. This has been evident in what we have seen emerge in industries such as retail, finance, and automotive industries.
In conclusion, each business needs to understand, evaluate and implement new ways of digital innovation that will retain current customers and also identify new markets that have a keen interest in what your business has to offer.
