What is Your Return on Digital Transformation?

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A common goal for digital transformation is to automate processes and tasks to improve operational efficiency.

For instance, investment in chatbot technology to reduce the volume of customer support calls going to live agents.

To determine whether you are successful, you can monitor the volumes of customer inquiries handled by chatbot and live agents, then compare the two. An increase in the proportion of inquiries supported by chatbot reflects that the technology indeed provides satisfactory responses.

To compute the actual return on investment, you would need to estimate the savings in live agents’ time and other manual tasks. This is where obtaining the required data could get tricky.

This is also why you need to plan ahead the results you need to monitor and incorporate the data capture capability as part of the scope of your digital transformation project.

Without the appropriate data, you won’t be able to report on return on investment. Anecdotal evidence is inadequate to validate the investment you’ve made.

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