In our previous post we looked at the myths around ROI and organization. Now let’s have a look at misconceptions regarding data records requirements and process owners.
Myth #3: Data records need to be perfect to be ready for digital transformation
One of the challenges that businesses find with digital transformation is the need for quality data. Traditional businesses that keep paper records, which sometimes can be hard to retrieve, or rely on manual data entries that may not always reconcile, might find it tough to feel “ready” for digital transformation.
As Sai Keet said, “In reality, no business can truly have data that is always correct, always on-time and always in the full amount. What’s essential is that the more you use and analyze your data, the better it will get.”
“Through our experience, businesses can start with a ‘reverse loop’, where we look into the data that they have, build in some checks on the data to prepare it for usable analysis, then load the data into the platform. From the dashboards, they will then come to understand what the quality of their data is like, and make continuous changes to improve it. Just getting started on inputting data into a virtual platform will give you the foundation and visibility to embark on digital transformation.”
Myth #4: Innovation can only be undertaken by a specific department
It is said that with every crisis comes new opportunities for growth. But are businesses able to innovate quickly to seize them? At Dassault Systèmes, we believe virtual twins can foster collaborative innovation.
Gone are the days when innovation depended on just one department. In today’s world, innovation is about involving the entire eco-system, from your suppliers, the management, the shop floor workers, to even your customers. To do this, all information and collaboration must be harmonized on a single platform, with everyone working on one single source of truth, to enhance agility and flexibility.
Your customers and suppliers can actually contribute valuable ideas to improve your product. The way to accelerate innovation, is also to have them involved within the single virtual platform, so that all contributors can collaboratively transform the data into sensible contextualization to drive improvements, with greater insights. This is what we call an iterative approach to product innovation, made possible through the collaborative virtual twin.
Coming up next – Misconceptions Regarding Investing Digital Transformation and its need
Authored by – Ying Shun LIANG, Industry Process Consultant, Dassault Systèmes
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