How Do You Measure Digital Transformation

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What is Digital Transformation?

Digital transformation is the process of using digital technology to create new or modifies existing business processes, culture, and customer experience to meet changing business and market demands. This reimagining of business in the digital age is digital transformation.

Business leaders have initiated Digital transformation, but only 30% of digital transformation efforts have been successful. The company has spent thousands of dollars on digital transformation, but the success rate is very low.

This alarming situation needs to be resolved and an innovative solution is needed. The first step to a successful digital plan is to measure its progress with effective metrics

Organizations undergoing a digital transformation must have scalable plans that can improve business performance. Accurately measuring how your employees use your digital assets can help you understand whether your new tools are effective. Ensuring this will help you advance your data transformation efforts.

Let us understand some of the key metrics that can help companies achieve their data transformation goals.

• Active usage metrics

• Participation level and user engagement

• Adoption and performance metrics

• Workforce productivity

• The cost of a digital plan

1-Active usage metrics

Successful digital transformation requires the adoption of sustainable technology. One of the best KPIs for measuring digital assets is to actively use digital assets. This can be done by comparing the number of purchased licenses with the number of users who use the software.

In addition, metrics such as daily active users, conversion rate, and abandonment rate can help you fully understand the software adoption rate.

For example, if your survey results indicate that more than 85% of users are using the software, you can assume that the software’s adoption is successful. If the number of active users is less than 50%, then poor technology adoption is an obvious obstacle.

A low adoption rate will hinder the progress of digital transformation. You must know how to ensure that your organization successfully adopts technology. It is important to understand what digital adoption is and why it is important to ensure the success of the digital transformation.

Focusing on end-user engagement and employee engagement can help you make progress on your digital transformation journey. 

Some metrics describing employee engagement patterns are:

• Net Promoter Score

• Exit rate

• Employee Satisfaction Index

• Bounce Rate

If employees do not participate in the way the organization expects, it is because the technology is not strong enough to allow them to change the existing work model. Your software is powerful, and you have a well-planned digital transformation strategy, but without the involvement of employees, all your efforts will be in vain.

From the end user's point of view, the software must be able to perform their work effectively and guarantee their participation. Improve the user experience and user interface (UI) of the product, and solve the pain points at the right time to keep employees engaged.

3-Adoption and performance metrics

Adoption simply means the extent to which your employees use digital and business transformation tools. Adoption is one of the most important business transformations metrics. A high digital adoption rate is one of the key metrics of successful digital transformation.

Poor adoption and performance rates may be due to the tool’s complex features or its lack of user engagement. In both cases, the use of DAP is the best help. With a good DAP, you can smoothly adapt and improve employee performance.

 DAP’s on-screen guidance keeps employees engaged and allows them to perform any complex tasks simply by following its interactive software exercises. It provides a clear picture of employee progress and helps to identify and resolve bottlenecks as early as possible.

4-Workforce productivity

Employee productivity is one of the best KPIs to measure the impact of digital transformation efforts. Labor productivity is the value or output that employees can deliver relative to time.

To determine whether new tools help companies increase employee productivity, they need to find answers to the following questions

• Can employees optimize their working hours?

• Are they involved in the whole process?

• Does task automation provide more time for strategic thinking?

• Can they handle complex tasks more efficiently than before?

• The answers to these questions can help you analyze whether your employees are efficient and use the tool in the right way.

Calculate the income generated by each employee, and use this to understand the development direction of your digital transformation work. For example, if you invest in a technology to improve customer support, you must measure the number of support tickets processed by your IT team since the implementation of the new digital tool.

5-The cost of a digital plan

A successful digital transformation plan can generate more revenue from your digital investment. CEOs must monitor the amount of money spent on technology and measure the percentage impact of their digital investments on revenue. Companies that spend only a small portion of their budget on digital plans are unlikely to achieve high returns. To maximize the return on investment, sufficient resources are used to promote the adoption of new digital tools.

There must be a balance. After this "balance point" phase, the organization begins to over-digitize. This shouldn't happen. The law of diminishing returns occurs after the digital business reaches a point of equilibrium. A proper investment plan can help you reach this balance point. The digital transformation of each organization may be different, but these are some key metrics you can rely on. Regardless of the metrics your company uses, the first step in achieving the expected return on investment is to determine how to measure digital transformation

Conclusion

Implementing the latest technology and enabling employees to use their full potential can ensure the success of the digital transformation. Digital transformation must focus on the issues that require the most attention of the organization. These priorities will help understand what technologies are needed. DAPs like Apty can help companies perform any type of technology-driven transformation. Powerful digital adoption platforms such as Apty can make your transformation seamless through its proactive data transformation approach.

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