"Say no to plagiarism. Get a tailor-made essay on "Why violent video games should not be banned"? Get the original essayIs digital transformation making its presence felt? Surely, if we go by the contribution that apps alone have made to our national income Data suggests that in 2015-16, apps contributed to the tune of 1.4 lakh crore to our GDP This,. as well as other facets of the digital revolution, could well increase their contribution to more than one percent of GDP So, what exactly is digital transformation? It refers to innovations that connect technology,. data science, devices and business strategy, leading to improvements in a business process or customer experience Customers are increasingly moving towards technology that adapts to their needs. focused on improving the customer experience are experiencing instant success. Today, when I get in an Uber, I have almost no verbal communication with the driver. Technology does all the work, from giving directions to paying the money. Digital transformation has created markets that were previously beyond our imagination. Airbnb used the help of technology to bring sellers and buyers from around the world together, significantly reducing search costs for both. It is therefore not surprising that their market capitalization has grown exponentially. Amazon's Jeff Bezos is giving competition to Bill Gates and will replace him as the richest man in the world. For any business that exists, this exercise has become critical. Free markets allowed only the most competitive businesses to survive. Digital transformation gives a business the opportunity to get a head start on much slower competitors. In an otherwise oligarchic market, this presents an opportunity for the company to become a leader and rewrite the rules of the game. General Electric Wind Farm, another digital transformation that combines turbines with digital infrastructure, is estimated to be worth total of 50 billion dollars for the energy sector. NETESPRESSO's digital intervention helped it understand the millennial customer base with great clarity. It offers a full-fledged sales solution capable of managing the entire purchasing cycle, from pricing to quotes to orders. Although these are examples from top companies, businesses widely recognize that digital transformation is key to their survival. A survey by PWC indicates that 85% of business decision-makers say they have a two-year time frame to make significant progress in digital transformation or they will suffer financially and fall behind their competitors. It is imperative to understand that every business is a digital business. A start-up in Pune called 'Early Salary.com' is offering urgent and quick cash personal loans at low interest rates to those who are broke at the end of the month. However, they consider themselves a Fintech company. They have appointed a chief technology officer who oversees their digital and analytics activities, which helps drive more business and reduce costs. In large organizations, it is estimated that more than 75% of the CIO's time is spent on analytics, cybersecurity, and creating new revenue streams through digital services. CIOs are increasingly complementing the role of HR managers in terms of building capabilities that can generate"