Adaptability and Competitiveness
Spain is at a crucial point in its journey towards digitalization. The last few months have witnessed significant advances in the field of data and technology, laying the groundwork for a future full of opportunities and challenges.
In recent times, many companies have been working hard to implement digital solutions to improve their competitiveness. From adopting cloud-based management systems to automating key processes, organizations have been sowing the seeds of innovation. These efforts will translate into greater operational agility and the creation of more satisfying and personalized customer experiences.
Massive data harvesting
In terms of data production and collection, in an ecosystem with more people engaging in digital activities and using online services, the amount of information collected has reached unprecedented levels. This torrent of data offers a valuable resource for businesses, allowing them to make more informed decisions and design more effective strategies.
Spanish companies are investing more than ever in the implementation of digital solutions, and the numbers speak for themselves. According to data from the Ministry of Industry, Trade and Tourism, more than 65% of companies have increased their investments in digital transformation. This boost translates into a 30% increase in operational efficiency, and it is expected that in the next three months, 40% of companies will implement advanced automation technologies to streamline their processes.
In addition, IoT technologies have been booming even more since the arrival of 5G, driving the massive use of cloud services in cities, industry and the home. On the other hand, this increase in data generation in combination with AI systems, break into the present, achieving a deeper understanding of the current circumstances and act with greater speed. The systems based on big data, AI and RPA (Robotic Process Automation) implemented by some administrations to address the management of the health crisis and manage massive requests for aid to SMEs and the self-employed, also demonstrate this.
And following exponential growth in terms of data generation, according to the National Markets and Competition Commission (CNMC), mobile data traffic has increased by 40%. This increase in digital activity has created an invaluable reservoir of information that companies are eager to tap into. Over the next quarter, data analytics is expected to be responsible for an estimated 25% increase in informed decision making by organizations.
Chameleon skills
Adaptability, one of the main capabilities to stay competitive; whatever the company and its sector, there is a growing divergence between those that can use technology and those that cannot.
Imagine you have a team of highly skilled people, a lot of information at your disposal and you know how to use advanced software in your company. If you also change the way people use that information, you have the opportunity to increase the amount of work you do and outperform other companies in your industry. This makes you more competitive. While some companies might also get the same technology, it doesn’t automatically guarantee success. What really makes the difference is how you learn to make the most of it.
Jeff Bezos, the founder and CEO of Amazon, one of the most important technology companies on the planet, states: “Speed is important in business, that’s why I recommend making quick decisions“.
Digitalization should act as a catalyst for business innovation, enabling the development of new products and business models; the situation implies a paradigm shift in the training of students and workers towards what has been called lifelong learning.
The paradigm shift is a global reality, a new business culture to be able to conceive changes not as limitations, but as opportunities for prosperity and development.
