Taking the quote "every day is a new opportunity" seriously, humankind dove into the digital world, discovering and inventing something unique incessantly. From computers to holograms, the association of humans and digitalization has been and will be evergreen. One such phenomenon that arose amongst multiple discoveries is disruptive digital technology.
What is Disruptive Digital?
Disruptive digital or digital disruption is an innovation that occurs when new technologies and digital systems affect or alter an enterprise's business model. It changes the way consumers, producers, sellers, and industries operate.
These can be considered elements that disrupt the status quo of the industry market and force the business to adopt practices that are compatible with the current market. Businesses have to analyze the aspects of their goods and services and adjust accordingly.
Digital disruption technologies have been impacting our commercial lives for quite a while now. The change in the transportation of goods from horses to carts to cars is a clear example of this phenomenon. In simpler terms, disruptive digital is a digital change in a business and consumer model. According to statistics, 70% of businesses have started working or already possess a digital transformation strategy that will exist in their business model when a new disruptive digital technology arrives.
Components of Disruptive Digital
To understand the concept of digital disruption efficiently, here are the elements that constitute this phenomenon and make it a significant aspect of the commercial world:
- Business: It includes all the aspects of a business such as marketing, production, supply, etc. Business process optimization drives the disruptive digital strategy in the right direction.
- Technologies: Digital technologies that encompass innovation, design, usage, and functionality, transforming businesses.
- Society: It includes the culture, preferences, movements, and trends of the society, along with innovation, that impact a business.
- Industry: This element includes the market, consumers, processes, and methods that run an industry.
The blend of these elements and adoption of strategies based on customer response, data, digital culture, and business innovation leads to a flourishing and unique business model capable of cutting down all competition.
Benefits of Disruptive Digital Strategies
The inculcation of innovation and digitalization in businesses is one of the most important steps to take a business to the next level. Digitalization is dynamic, which makes it seem disruptive. However, it helps businesses reap a lot of profit and success. Here's how:
Digital disruption jostles businesses out of their comfort zone and urges them to think of ways to include new technologies. It teaches business owners to change and adapt whenever required. Growth can be initiated only if the company keeps on updating and changing with time, inculcating different trends in the market whenever and wherever.
Being one of the most popular digital disruption technologies, social media platforms help achieve customer loyalty and keep them engaged in the company. It increases the levels of satisfaction in your customers, making them loyal to your product and services. Moreover, it increases the sales and profits of the company.
The new technologies impact not only the operations but also the workplace of a company. Collaboration tools, management software, cloud applications, etc., teach ease and increase the workplace's productivity. It saves time that can be assigned to growth-oriented tasks.
Step Into Disruptive Digital With MIT ID Innovation
Just as an enterprise requires disruptive digital concepts to grow, an individual needs to learn and adhere to these concepts for an innovative and facilitating career, regardless of the field you work in. MIT ID Innovation offers several innovations, design thinking, and digital transformation courses that will help you understand the essence of disruptive digital effectively. Enroll today!