BAKU, Azerbaijan, May 21. Azerbaijan’s oil industry has all the chances to lead the digital transformation process in the list of industries with a high level of such transformation, CEO of DIS Group Pavel Likhnistkiy told Trend.

According to Likhnistkiy, major banks and telecommunication companies in Azerbaijan hold high positions in the rankings in the field of innovation. Oil industry is also among the leaders, which is due to its defining role in the country’s economy, as well as the agitating demand for Azerbaijani oil due to the dramatic change in the global economic situation.

“In many countries, industrial companies, including the fuel and energy sector, are in the second echelon of digital transformation, but Azerbaijan is unique in that the oil industry here has all the chances to lead this process,” he said. “The growing demand, first of all, from the EU countries and Turkey, requires a radical change in the business strategy, production growth and logistics restructuring in the shortest time. To date, digital transformation based on data remains the only effective tool for such large-scale business changes.”

He also noted that telecommunications and the banking sector traditionally head the list of industries with a high level of digital transformation, and in this sense, Azerbaijan is no exception to global trends and the achievements of the Azerbaijani telecom in creating smart data are recognized internationally.

“The transition to a digital society is one of the key points of Azerbaijan 2030 strategy. This means improving the digital literacy of the citizens and creating value through data-driven innovations,” the CEO further said. “It requires a high level of digital maturity, strategic decision-making and implementation of a data management culture. Active government support accelerates this process. Azerbaijan’s experience here matches that of countries such as Singapore, India, and Russia.”

Besides, according to Likhnitskiy, since Azerbaijan’s economy and business show a steady positive dynamics, high demand can be predicted for data monetization solutions in the next few years.

“We are talking not only about external monetization – for example, at the expense of improving sales efficiency – but also about internal monetization at the expense of cost reduction. Business process optimization and data monetization through IT analytics solutions come to the fore,” he noted.

“Data-driven analytics can accelerate the development of both the business as a whole and its individual functions. In the future, for at least five years, this trend will determine the development of digital transformation of Azerbaijani business,” added the CEO.

Source: TREND News Agency