5 strategies to accelerate digital transformation in automotive
The automotive industry is being reshaped by several forces such as technology changes, customer expectations, and more recently with the unexpected impact of Covid-19. The vehicle is fundamentally changing from purely mechanical engineering into a software-defined connected mobility platform that needs to respond to the rapidly changing priorities of modern vehicle buyers. The rising bar for technology adoption has created a desire for new driving experiences and business models for the consumer. In response to this shift, Microsoft, working with customers and partners, has identified five key areas that can be addressed quickly to help accelerate the automotive industry toward Mobility-as-a-Service providers and suppliers.
Announcing the Reimagining Automotive report by business intelligence platform, PSFK, in partnership with Microsoft. The report addresses the future state of the automotive industry through five forward-looking company journeys across these five key areas to address for accelerating digital transformation.
Five digital transformation imperatives
Resilient operations
Connecting the entirety of the enterprise with relevant data to drive continuous improvement through a digital feedback loop.
Digital technologies are transforming the way cars are manufactured. The transformation starts on the factory floor, with connected equipment that can analyze and visualize operational information in real-time. Displayed through mobile devices and mixed-reality headsets, that information empowers workers with on-the-job insights and instructions. The relationship between factories and laborers has grown even stronger with smart contracts that keep employees happy and companies compliant. After vehicles are built, they are continuously monitored through digital twin simulations, feeding information back into the system to improve the product and make better forecasting decisions.
Differentiated customer experience
Capturing insights from across channels to gain a single view of customers and drive personalized experiences.
To keep pace with rapidly changing consumer expectations and elevate the automotive customer experience, companies need to capture insights from across various channels. Use customer data platforms to bring together data from all sources. Gain a single view of customers and discover insights that drive personalized experiences. Create omnichannel experiences. Move prospects through the journey more efficiently with predictive recommendations. Transform the way vehicles are marketed, sold, and maintained in a digital-first context.
Emerging mobility services
Using location intelligence to develop new products and services for large fleets of commercial vehicles and urban mobility services.
Location data is fueling a smarter transportation infrastructure. From long-haul trucking to urban micro-mobility, organizations now have spatial awareness of all their assets at any given time. Providing real-time insights into congestion, delays, and potential issues, location intelligence can be leveraged to more efficiently deliver people and products while IoT-connected sensors and infrastructure continuously improve and refine the overall travel and transport experience.
Accelerate vehicle innovation
Modernizing the in-vehicle experience with location intelligence and virtual assistants; making vehicles futureproof with remote updates.
With the emergence of “software-defined” vehicles, OEMs can continuously add new features to a vehicle throughout its entire life cycle. This will radically transform the experience for drivers. Creating a seamless experience from the moment they enter, use, and leave their vehicles. By integrating virtual assistants, OEMs are not only personalizing the driver experience but making it easier for third-party services to be integrated into vehicles, in turn creating ongoing revenue streams and future-proofing vehicles with remote diagnostics and over-the-air updates.
Increased organization productivity
Creating a more connected and productive organization by empowering your whole business with team collaboration tools and the processing power of the cloud.
To keep pace with the shifts happening within the industry, OEMs, dealers and beyond need to ensure that their entire organization from the C-suite to the factory floor is seamlessly connected and empowered with the right tools. To enhance collaboration and maximize productivity, companies are digitally transforming the workplace with AI and intelligent automation to streamline workflows and offload repetitive tasks. They’re integrating low and no-code solutions that enable anyone to build and deploy powerful apps and focusing on new training platforms to enhance employee skills. Enterprise-wide digital solutions and mixed reality interfaces are bringing together traditionally siloed teams by unifying devices, data, relationships, and processes.
With each of these five areas, we will dive deep to understand the reasoning for addressing them, and the impact on your business. Lastly, we will walk through specific Microsoft customer stories to investigate where they had success in these areas and what was learned during the process.
Read the full report. I look forward to your feedback and if you would like to learn more, we are always here to help.
