How Product Management is Essential to Digital Transformation in 2022?

1. How Product Management is Essential to Digital Transformation in 2022? As the whole world is adopting digital methods, our products and services need to transform at a faster rate. Customers are changing their buying methodology and to cater these changing habits, a company must invest in Digital Transformation Services to stay competitive as well. To meet customer experiences it is important to be available in the spaces customer inhabit. Digital transformation is not about just mobile application development or an online portal. Instead, during the transformation, businesses must leverage technology to better learn their customers’ needs and create digital experiences to meet those needs. Unfortunately, companies are not putting customers at the center of their digital transformation needs. Rather, new technologies are used to build operational efficiencies to lower costs. While that’s crucial, customers are asking for better experiences from the organizations they are looking to do business. Considering transformation to digital platform and the role a product manager, it can be seen that product leaders act as a bridge between customer needs and the process of digital transformation. the importance of customer experience in a successful What are some of the challenges faced during digital transformation? Challenges experienced during digital transformation are:

2. 1. Companies work in a traditional manner where each of them manages data and customer information. Here the major risk is that the customers’ interests are prioritized at the top level. 2. Due to unavailability of better customer experiences the customers’ needs are not prioritized, the feedback is not properly captured. This makes it challenging to improve the product or service. 3. When you software is developed, it becomes simple to capture and analyze data. Due to the lack of data surrounding usage statistics decisions are made based on the gut feeling. Benefits Product Managers Offer in Digital Transformation 1. Data Insights Product managers of top Digital transformation companies generate insights regarding customer experience across the complete lifecycle. Auto giant BMW, is focusing on i3 electric cars as much more than vehicles. They are testing services like DriveNow, a car-sharing app, and ParkNow, identifying garages with parking facility, thereby providing experiences that become crucial and drives loyalty. 2. Design Thinking Design thinking is all about analyzing end-user requirements first and what they need and want from an application. Several automobile brands redesigned their car for the Indian markets, they looked at the needs of luxury car by keeping heavy traffic and air pollution in mind. 3. AI Advantage Artificial intelligence can boost the value of both internal and external data using different capabilities including trend spotting and predicting changes in markets as well as customer behavior. In retail stores, just carry a smartphone to scan a QR code on their app. When a product is scanned, the AI software, and a digital connection to the customer’s credit card activate the store to recognize what products the customer left with and then charge according to it. 4. Agile Development Agile development is a process that depends on continuous tests and iterations so that the final product or service can be easily developed. Product managers successfully followed the agile methodology leading to productive practices, correct estimates, higher motivation. improved communication, and

3. 5. Personalized Customer Experience A streamlined multi-channel has become a necessity for personalized customer experience. Voice-activated devices including Amazon Echo and Google Home now smoothly integrate with websites, online search, and social media, and that’s what consumers want and increasingly look for. Wrapping Up: The whole concept behind becoming digital is to know customers better than before, knowing the market dynamics faster, responding to change quickly. Organizations that haven’t looked at improve their approach to product management are losing potential customers Moreover, a modern product management & support service process, majorly for digital, needs simple integration and collaboration between business and IT teams. to competitors who do.