Digital transformation is not a destination; it is the evolution of business from analog, people-dependent processes to data-enabled processes. Digital transformation begins with collecting telemetric data from sensors, devices, people, infrastructure, and processes (Internet of Things (IoT)) and continues with consolidating telemetric data into large data lakes (Big Data) and converting that data into actionable information using advanced analytics (Analytics). Because this process of digitizing the business involves collecting and moving data in real time at high reliability, security (Network Security) and highly capable networks (Business Communications and Mobile and Wireless) are required. Finally, because a data-intensive company needs massively scalable computing, cloud services (Cloud) are needed.
One of the challenges in the industry is the muddled definition of digital transformation because of the ever-expanding definition of IoT. In most cases, vendors and service providers are using both terms interchangeably. Frost & Sullivan believes that IoT is the catalyst driving this transformation; however, IoT is not the only technology that enables organizations to transform digitally. Ubiquitous connectivity, cloud computing, IoT, Big Data and analytics, blockchain, and artificial intelligence (AI) are among the core technology groups driving vertical market evolution.
Digital technologies can potentially transform every vertical market and industry; therefore, understanding the ICT perspective and the industry views that are driving change is vital. Every industry is seeking to evolve in line with changing customer requirements, enable the delivery of innovative new services, and improve internal working processes.
This study provides a detailed overview of different coverage areas at Frost & Sullivan that help organizations in the digital transformation journey, including ubiquitous connectivity, Internet of Things (IoT), Big Data and analytics, cloud computing, IT security, and emerging technologies, such as artificial intelligence (AI), augmented reality (AR), and blockchain.
In addition, this study covers how Frost & Sullivan’s global coverage can help organizations help their clients understand the value of digital transformation and develop customized solutions that allow organizations to integrate their people, processes, and devices to increase efficiency, change the organizational culture, and potentially develop products that enable customers to take advantage of IoT and digital transformation.