The 6 golden rules for digital transformation success: Strategies and insights from industry leaders
By 2030, the Internet of Things (IoT) market is expected to reach $1.5 trillion, according to Transforma Insights. And M2M System’s latest Mobility Report predicts there will be nearly 27 billion connected devices by 2026 — with almost every object around us connected. The transformative potential this holds for business and society is boundless, allowing us to solve problems like never before.
But how do we get there? We’ve been speaking with leaders who have already applied digitally transformative technology to change both their business and society. They’re creating safer work environments, improving customer experience by enabling greater customization and personalization, reducing their environmental impact, and developing new revenue streams.
It’s from these insights that we developed the Connected Enterprises report and our 6 golden rules for digital transformation success. Leading enterprises share how they leverage cellular connectivity to improve efficiency and productivity, while lowering operating costs and environmental impact.
Navigate to a better future with cellular technology
In order to remain competitive, create better experiences and services, increase efficiency and even achieve sustainability goals, businesses need to become connected. This digital transformation can happen through connected devices and products or connected environments like industrial sites. New opportunities and revenue streams are constantly emerging but to realize the possibilities and bring them to life, enterprises need connectivity that is global, reliable and secure.
That’s why our latest report begins with technical and operational fundamentals you need to know in order to be successful in your digital transformation strategy.
“You’ll see how IoT and cellular connectivity like 4G and 5G are making things possible that were impossible in the past.” Christina Girod, Senior Manager, M2M Systems Production Lab.
To start your journey, have a clear business case and an understanding of the value you want to create. The right knowledge and business model will help you bridge the gap between possibility and reality. For inspiration, our report looks at impactful initiatives taken from conversations featured in the M2M Systems Talking IoT podcast.
These conversations include industry leaders who are realizing digital transformation by harnessing cellular technology. Globe Tracker is changing food transportation and reducing food loss by using the global coverage that cellular technology provides. They’re now able to track and monitor a complex ecosystem of sensor-equipped containers at every stage of their journey, ensuring they arrive on time and in good condition. Grundfos, the world’s largest pump manufacturer, uses cellular technology to optimize energy consumption and sell maintenance as a service. As a result of making their pumps intelligent, they’ve seen a 60% increase in energy efficiency. These are just two examples of the six included in the report from leading companies who have achieved digital transformation.
Our report also includes expert advice on topics including adopting the right business approach and how to attain buy-in from decision makers. It explains why legacy standards like Wi-Fi cannot accommodate extreme device density and the resulting, high-bandwidth data requirements. You’ll learn from Brighter’s use of cellular technology to improve global healthcare, Grundfos’ ability to create completely new and innovative revenue models, Hexagon’s advancements in smart manufacturing, Audi’s work in increasing production safety, AT&T’s thoughts on using 5G and IoT to generate new business outcomes, and more.
It’s clear that 5G is ushering in a new era of innovation, and the best way to explore these new possibilities is to learn from those who have already started on this path.
The 6 golden rules for digital transformation success
We have compiled the six best strategies from the conversations with industry leaders, and what they found attributed to their successful journeys. Our “6 golden rules” will help guide you on your journey and learn from those who went before you.
Put the customer first, not the product: In order to help your business digitally transform and reach its goals, you must have a clear understanding of what success looks like and whether or not you’re actually solving customer problems. Put your customers center stage, step into their shoes and speak their language.
As Tanner Folk, CEO of agtech provider, IntraGrain, said: “Make sure you understand your audience and you’re providing solutions to solve real world problems.”
Capture the data opportunity: It’s important to capture and transport data effectively and securely with cellular, so that it can be analyzed and turned into actionable insights, like a warning to farmers that their stored grains are at risk for spoilage.
Start small then scale up: You’ll get to read about how the CEO of HMS, a leader in industrial communications, started small and scaled up. And from AT&T’s Chief Product & Platform Officer, you’ll learn about “failing fast” and how operating similar to a start-up — acting fast, acting early, and testing often — can help drive outcomes.
Embrace new ways of working to stay ahead: Digital transformation leaders must understand that the new ways of doing things will be the only path forward, and that being static means being left behind. Cellular connectivity will help you challenge the status quo, scale and build an agile business.
Don’t do it alone: Understand how to best collaborate with partners and read about the pitfalls to avoid when creating the right ecosystem.
Don’t compromise on security: Dive deep into the importance of security and understand why so many enterprises use cellular technology to provide a coordinated approach, including product security, deployment, operations and management, incident-handling capabilities, traffic encryption, and protection of signaling and interfaces.
The possibilities that IoT, 4G and 5G create for enterprises are limitless but, most importantly, the potential for changing our world for the better has never been so promising. IoT-enabled products and profitable, innovative business models are no longer dreams — our customers are making them happen right now.
As Dr. Henning Löser, senior manager of Audi Production Lab says: “By doing this, all of us together, right now, we are actually shaping the future. We’re making things possible that were impossible in the past.”
