Having written several detailed articles on digital transformation on this blog, we’ve gone to great lengths to explain what it is and discuss some of the benefits and popular pitfalls that companies face when embarking on their digital transformation journey. We have even highlighted some examples of prominent case studies that show what digital transformation looks like and how to achieve it.
In today’s article, I want to focus mainly on showing more success stories. I will share a few more examples of digital transformations and show you how it has helped to drive the reinvention of companies as a way to motivate you to kickstart your company’s own digitization journey. Let us begin with Exscientia.
The Exscientia Case Study
Arguably the best example of a situation where digital transformation has had a serious impact on a company is the case of Exscientia.
The Oxford-based company’s decision to use artificial intelligence to predict the most effective combination of drug compounds to treat specific target groups based on available data on their genetic makeup has led the company to recent massive success.
It recently submitted a drug that’s intended to be used to treat obsessive-compulsive disorder that is the first AI-designed drug to enter clinical trials within 12 months of discovery.
Exscientia’s CEO, Andrew Hopkins, has this to say about their approach in a recent interview:
“As a company, we focus on generating high-quality data to seed our algorithms and that’s an important aspect of what we do as well. We are building machine learning models, which are then used for dry design. One of the key features of our approach is that we’ve been able to demonstrate we can discover and optimize molecules to drug candidates far more quickly than other people have been able to do, on the order of 5 to 10 orders of magnitude improvements.”
Since AI enables computers and machines to learn from data it has the potential of making the process of drug discovery faster and more cost-effective such as in the case of Exscientia and it is only by adopting a transformative mindset that companies can discover this benefit.
The Dominos Case Study
Another prominent example of digital transformation done right is in the case of Domino’s Pizza.
Some time ago, the company found itself in a crisis that came from several complaints about its pizza. customers called its pizza ‘cheap’, complained about the pizza sauce, and even went as far as to claim the company’s pizza tasted like cardboard.
How did Dominos overcome these you asked?
Source: Domino
They brought in a focus group and identified what needed to be done to improve the product and after speaking with this group, Dominos, under the direction of its CEO Patrick Doyle turned things around by recognizing the need for greater customer engagement and improvements to the company’s delivery process.
For this, the company built a strong IT/Research and development division that made changes to its pizza recipe to accommodate these complaints and launched a first-of-its-kind “Pizza Tracker” technology to keep customers updated on the progress of their orders.
In one of our articles on digital transformation, we mentioned that for it to be successful, digital transformation should begin with a problem statement, a clear opportunity, or an aspirational goal.
Domino’s strive for digital innovation has led it to cement its place as the world’s leading pizza delivery company only a few years after its stock began to plummet due to these criticisms.
The Supermatch Case Study
Some digital transformation examples, on one hand, include implementing small but tangible, customer-centric changes that add a digital touch to a business, while on the other hand, others, like in the case of the Supermatch iGaming platform, involve transforming a traditional business process into a fully digital whole.
The company, which is Uruguay’s premier provider of iGaming services, recently went through a digitization journey courtesy of our team at Alabama Solutions that proved to be transformative for the company’s business. Additionally, the unique approach and digital tools we use in building the new Supermatch platform helped stop the large-scale performance and scalability issues present in its old system.
Moreover, the new platform added a refined user interface, more betting options, and an entirely new backend control system that strengthened its ability to scale endlessly under serious load situations that once crippled it.
Consequently, the result of this digitization for the Supermatch platform is a significant increase in customer engagement and user retention rates that’s been crucial to business expansion and growth.
What successful digital transformations have in common
Furthermore, consumers are the primary focus in almost all cases of success in any digital transformation effort. Companies that are successful in their digital transformation endeavors focused heavily on improving the delivery of value to their customers.
Salesforce Founder and CEO, Marc Benioff, echoed this sentiment when he said every digital transformation effort will begin and end with the customers.
To kickstart your company’s transformation journey as a founder, you need to:
- Actively be in the loop with the evolution of technologies.
- Develop the willingness to adapt your business processes constantly.
In conclusion, I hope that this article provides you with the needed motivation you need to take concrete action to digitize your business. If it does, you should move one more step ahead by booking a free consultation with our team to discuss how we can help in your digital transformation journey.
If it does, you should move one more step ahead by booking a free consultation with our team to discuss how we can help in your digital transformation journey.