The rules of business are being rewritten nearly every day with this imperative for business digital transformation. Every business leader must apply these rules to engage, compete, and grow. Every industry has a unique digital transformation opportunity.
Improving customers’ experiences needs to be the cornerstone of any investment in new technologies or business processes. It’s important to get beyond digital transformation as purely a technical, abstract construct and see it as a must-have strategy to retain customers and attract new ones.
Every company needs to build platforms and partnership to accelerate and scale this transformation. This brings into focus the ability to innovate at the intersection of experiences and operations. Better data leads to better customer results.
AI is helping to more precisely define customers’ preferences and needs. Organizations that are the most successful with digital transformation initiatives can see improvements in customer loyalty rates and customer satisfaction. AI-based algorithms are making it possible to create models that are invaluable for predicting which customers will act on a bundling or pricing offer. These models rely on predictive analytics including machine learning to predict the probability a given customer will act on a bundling or pricing offer, e-mail campaign or other call-to-action leading to a purchase, upsell or cross-sell.
Capitalizing on insights gained from AI, organizations are redesigning their technology infrastructure and process to improve customer experiences. This infrastructure needs to scale rapidly, change rapidly and integrate with the cloud-based infrastructure of the entire supply chain.
TraQiQ can help in designing, building and running cloud-based technology platforms and AI models that help our customers and partners bring their offerings to market rapidly.