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

Overcoming the challenges

In Chapter 3, Accelerating Digital Transformation with Emerging Technologies, we discussed the rise of digital technologies and the digital platform. Along with the business model changes, we can lay the foundation for industrial digital transformation. Let's see how to overcome the challenges by putting together the digital technologies, cultural and organizational changes, business process changes, and business model transformations.

Business model change by Tesla

Customers are more inclined to buy products and services that generate value for them. The automobile industry has worked on very similar principles for about a century now. They create a replacement market by offering a newer model with a few additional features, every few years, for their loyal customer base. As a result, the value of a used car drops drastically within the first 3 years. Industry estimates suggest 42% depreciation after 3 years for an average car in the US. Using...