The 6 Most helpful tools for business transformation with real-life cases from big brands
Updated: Mar 31
1. Artificial Intelligence (AI) and Machine Learning (ML) tools:
AI and ML tools are crucial to business transformation because they can help businesses to automate processes, gain insights from data, and make better decisions. By analyzing large amounts of data, AI and ML tools can identify patterns and trends that humans may not be able to detect. This can help businesses to achieve greater operational efficiency and make data-driven decisions. American Express used AI and ML tools to transform its fraud detection process. The company implemented a machine learning algorithm that analyzes customer transactions and identifies potential fraud in real-time. This helped to reduce the number of false positives and improve the accuracy of fraud detection.
2. Blockchain tools:
Blockchain tools are crucial to business transformation because they can help businesses to increase transparency, improve security, and reduce costs. By providing a secure and transparent ledger of transactions, blockchain can help businesses to improve supply chain management, reduce fraud, and streamline operations. Maersk, the world's largest shipping company, used blockchain technology to transform its supply chain management. The company implemented a blockchain-based system that tracks the movement of goods across the supply chain, providing real-time visibility and transparency.
3. Low-code and no-code development platforms:
Low-code and no-code development platforms are crucial to business transformation because they can help businesses to develop applications and software solutions without requiring extensive programming knowledge. This can help to speed up the development process and make it more accessible to non-technical teams. Siemens used a low-code development platform to transform its customer service operations. The company developed an application that enables customers to report and track service requests, reducing the time and cost required to manage customer service requests.
4. Customer Relationship Management (CRM) tools:
CRM tools are crucial to business transformation because they can help businesses to manage their customer relationships more effectively. By providing real-time customer insights, CRM tools can help businesses to personalize their interactions with customers and improve customer satisfaction. Salesforce transformed the CRM industry by developing a cloud-based CRM platform that enables businesses to manage their customer relationships more effectively. The platform provides real-time customer insights, enabling businesses to personalize their interactions with customers and improve customer satisfaction.
5. Business Intelligence (BI) tools:
BI tools are crucial to business transformation because they can help businesses to analyze and interpret large amounts of data, providing insights into business performance and identifying trends and opportunities. By providing data-driven insights, BI tools can help businesses to make informed decisions and drive growth and profitability. Walmart used BI tools to transform its supply chain management. The company implemented a BI system that analyzes data from its stores, warehouses, and transportation network, providing real-time visibility into its operations. This helped the company to optimize its supply chain and reduce costs. (Source: Forbes, HTTP link: https://www.forbes.com/sites/forbestechcouncil/2018/08/08/how-walmart-is-using-big-data-to-transform-supply-chain-management/?sh=4c4e4d4a74a0)
These real-life cases demonstrate how businesses can use various tools to transform their operations and drive success. By carefully evaluating their needs and goals, businesses can identify the most appropriate tools for their specific situation and leverage them to achieve their transformation objectives.
6. Robotic Process Automation (RPA) tools:
RPA tools are crucial to business transformation because they can help businesses to automate repetitive and rule-based tasks, freeing up employees to focus on more strategic and value-added activities. This can help businesses to increase efficiency, reduce costs, and improve accuracy. Deutsche Bank used RPA tools to transform its back-office operations. The company implemented RPA to automate its transaction processing and data entry tasks, enabling it to reduce the time and cost required to process each transaction.
RPA can be used to automate a wide range of processes, including data entry, data processing, customer service, and finance. By automating repetitive tasks, RPA can help businesses to reduce errors, increase productivity, and improve customer satisfaction.
RPA tools are typically easy to implement and require minimal IT involvement, making them a cost-effective solution for businesses looking to transform their operations. By implementing RPA, businesses can free up employees from repetitive and mundane tasks, allowing them to focus on more strategic and value-added activities.