Book Image

Industrial Digital Transformation

By : Shyam Varan Nath, Ann Dunkin, Mahesh Chowdhary, Nital Patel
Book Image

Industrial Digital Transformation

By: Shyam Varan Nath, Ann Dunkin, Mahesh Chowdhary, Nital Patel

Overview of this book

Digital transformation requires the ability to identify opportunities across industries and apply the right technologies and tools to achieve results. This book is divided into two parts with the first covering what digital transformation is and why it is important. The second part focuses on how digital transformation works. After an introduction to digital transformation, you will explore the transformation journey in logical steps and understand how to build business cases and create productivity benefit statements. Next, you’ll delve into advanced topics relating to overcoming various challenges. Later, the book will take you through case studies in both private and public sector organizations. You’ll explore private sector organizations such as industrial and hi-tech manufacturing in detail and get to grips with public sector organizations by learning how transformation can be achieved on a global scale and how the resident experience can be improved. In addition to this, you will understand the role of artificial intelligence, machine learning and deep learning in digital transformation. Finally, you’ll discover how to create a playbook that can ensure success in digital transformation. By the end of this book, you’ll be well-versed with industrial digital transformation and be able to apply your skills in the real world.
Table of Contents (15 chapters)
Section 1: The "Why" of Digital Transformation
Section 2: The "How" of Digital Transformation

Quantifying business outcomes and shareholder value

The decision process in large public or private organizations is often driven by strategic goals or value of investments to its stakeholders while making the organization stronger and sustainable. As a result, any new initiatives beyond the incremental efforts to preserve the business goes through a business case of Return on Investment (ROI) analysis. As a result, it is important to understand the key benefits of the industrial digital transformation to the business. The desired outcomes of digital transformations are often as follows:

  • New digital revenues
  • Productivity gains
  • Corporate social responsibility

In Chapter 10, Measuring the Value of Transformation, we will look in-depth into how to quantify these outcomes. Let's understand these outcomes qualitatively here.

New digital revenues

In this scenario, transformation is used to drive new lines of business or new digital revenues for an existing...