Path to Digital Transformation : Key Digital Indicators
I made a google search and could not find any article or definition about Key Digital Indicators, so most probably I am the first one who is defining this topic or approach 🙂
Key Digital Indicator term or sentence might sound silly at the beginning, but as Einstein said:
If at first the idea is not absurd, then there is no hope for it
So thanks to Mr. Einstein:) I decided to share my personal approach to community to collect feedback.
Today each and every company, even big or small, even startup or an industry cult are strongly believe in Digitilaziton or Digital Transformation and very much scares about Distruptive Innovation. At this point the question is what to do? How to start? From where to start?
I am in a position to help companies to shape their Digital Transformation RoadMap, so my first task is to offer a method, way, or approach to my clients.
Last year we all focused on Mega Trends, IoT, ML, AI, Bigdata…However this not helped well, they are all tools, but they are all useless or dead investments if you really do not solve a problem or put cash on the table.
So I decided to think different in order to find the path to Digital Success: which should be the pain areas. I know this is very common approach, however I beleive we are not good enough to find the value from this data garbage.
I beleive all the companies measures their success by bunch of KPIs. Today how companies measure their success, ok I have a little bit exaggerated 🙂
In order to increase Customer Satisfaction, all companies are trying to measure bunch of mostly common and well known KPIs like:
- Active Issues
- Resolved Issues
- Average Resolution Time
- Complaint Escalation Rate
- Net Promotor Score
- Customer Retention
You can add many other KPIs due to your Industry or capability.
You might be a great company with great score, however this is only a score that you have calculated. How old this score? Where all these numbers are coming, or are you calculating the impact on Net Profit?
Now it is time to define Key Digital Indicators. Let’s look at these KPIs in this way:
Customer Satifaction has two Key Digital Indicators which makes the score “Net Profit” related: Customer Complaints and Cash. If your Digital Transformation project or roadmap focuses on listenning new and live areas like social media with tools of mega trends, with digital data traps, you can immediately catch issues with smart applications and answer them by personally by bots.
Let me explain with an example: in facebook somebody shared a picture of your product saying I hate this because it made something again. This person has 10000+ connections. Your smart trap should immediately catch this and a bot should answer it by saying: Hi Sam/Lora, we are very sorry hearing this, one of our agent will reach you immediately and your issue has recorded. At the same time another bot will reach the person on duty and share the information including connection information. Once the case is closed smart bot will enter a comment after under the post will saying that we have reached Sam/Lora, the item that is beig used is changed with brand new one.
But this is not enough, somehow your application landscape should store the data of 10000+ of this person and should measure Promotor score. I know it is not easy, but this is the path to digital innovation directly impacts on Cash.
This is only a beginning, once the first digital impact realized over Customer Satisfaction, this should be improved recursively by measuring the tangible impact. Once you have reached the target (which should be calculated by improvement on Net Profit and investment cost)
Final words, I did not want to address a product or solution, the main idea was to finding a path to innovate.
Hope I am clear and you have enjoyed