Why now is the perfect time to study digital transformation
One of the many impacts of Covid has been the need for businesses to operate remotely, increasing the reliance on technology for day-to-day operations. Managers who were once worried remote working may mean underperformance now embrace the flexibility it offers employees.
Given this increased reliance on technology, now is the perfect time to study digital transformation because many businesses are currently or planning to undergo such transformations. Many companies are making changes to help function effectively within ever-changing Covid restrictions. Leaders are looking for ways to improve and evolve to make their products and services relevant to their customers.
What is digital transformation?
Digital transformation aims to improve processes by continually evolving to stay competitive by using digital technology to help create new experiences to meet changing requirements of customers and markets.
Typically, the new technology can either enhance human capability or even reduce the amount of human involvement required, leading to cost savings without losing operational efficiencies.
Demand for digital transformation
Many businesses realise they cannot operate under the assumption things will return to pre-Covid ‘normal’. So instead, companies are exploring how to address their current business challenges, planning for ongoing flexibility and exploring different delivery models.
Despite the challenges facing some industries, the outlook for business services looks positive. The digital transformation market looks to grow at a compound annual growth rate of 23% from 2019 to 2025. As a result, business professionals with specialised skills in the data and digital field are in high demand.
The 2018 Pisa Report suggested that the emergence of digital technology transformations may lead to substantial demand growth across all industries, providing job security and career advancement opportunities.
The National Skills Commission also identified 25 emerging and in-demand occupations. These include roles specialising in online engagement, for example, digital marketing analysts and social media specialists. Another area was data analytics, highlighting the increasing reliance companies have on experts to analyse data to inform businesses decisions.
What you can expect to earn in digital transformation
Many digital transformation experts prefer to work in a consultant capacity, given it’s a specialised area. The current average annual salary in Australia for a digital transformation consultant is $129,628 per year.
However, depending on experience and location, salaries may differ. For example, a Digital Transformation Manager based in Melbourne can earn anywhere between $120,000 to $180,000 per year.
If you’re considering a career in digital transformation, a Diploma of Business (Digital Transformation) can offer you the tools you need to get started.