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The Business Analytics Digital Product Launch examines three dimensions that are significant for successfully determining the maturity of your digital product:
- Business Maturity
- Product Maturity
- Market Maturity
Maturity of Digital Products – test version
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How to make your digital products fit for the future
The digital transformation has had an enormous impact on customer relationships at companies of all sizes. The maturity of digital products is key to success in the digital world. Successful organizations offer their customers an optimal digital experience and position themselves for the future. We can help you achieve this using a comprehensive maturity audit of your digital product: Drawing on our business analytics, we analyze the status quo of your digital product and provide practical, achievable ideas on how it can be improved.
What characterizes the digital maturity of your products
A company’s digital maturity describes the extent to which a company is able to successfully negotiate the digital transformation, develop digital processes and, in particular, offer digital products and services. In turn, the assessment of digital products’ maturity acts as a yardstick of how well a company or organization can develop, manage and improve digital products. A higher level of maturity shows that the company is in a position to standardize processes, reduce risks and continually improve product quality.
How your company can benefit from high product maturity
Higher digital product maturity can offer many advantages for your company, including:
- an improved customer experience: Improving product quality allows companies to boost customer satisfaction and bolster confidence in their brand. Higher maturity generally means fewer errors, a better user experience and improved performance.
- greater efficiency: Higher digital product maturity is supported by automated and simplified processes. This helps companies optimize valuable time and resources and, in turn, reduce costs.
- an improved competitive position: Companies offering digital products with a higher level of maturity often have a competitive advantage over their peers. As a company with digitally mature products, you can introduce new features and technologies more quickly and better adapt to changing market conditions.
- greater innovation potential: As part of the process of developing more mature digital products, you can also create new opportunities for innovation. For example, you can offer new product features, functions and services that improve your competitive position.
What criteria to consider when developing digital products
There are numerous criteria, approaches and maturity models that can be used when assessing digital maturity. Some key criteria that can give you a first impression are:
- user experience (UX): The quality of the user’s interactions with the software, including user friendliness, accessibility and benefits.
- business processes: The ability of the product to automate and streamline business processes to improve efficiency and competitiveness.
- data analysis and management: The ability of the product to collect, analyze and use data to gain an insight into customers, markets and business processes.
- technology: the product’s technological basis and its ability to meet customer requirements.
- security: the security of the product and its data against external threats such as cyber attacks and data breaches.
Identify and optimize the digital maturity of your products using KPMG Analytics
Are you looking for a professional, comprehensive analysis of your digital products’ maturity? Use our business analytics tools and receive tailored information detailing how mature your products are. The analytics cover three areas that are key to determining maturity:
- business maturity,
- product maturity
- market maturity.