College of Business Advisory Board Member Ryan Foland, Senior Inventory Manager, Oriental Trading Company
Digital transformation is reshaping the way businesses operate, bringing new efficiencies, opportunities and challenges. At the College of Business, preparing students for this shift means equipping them with the skills to understand business processes, leverage data and make informed decisions in an increasingly technology-driven world.
Ryan Folund, Senior Inventory Manager for Oriental Trading Company and a member of the College of Business Advisory Board since 2022, shared his insights on digital transformation and its impact on business education.
Defining digital transformation in business
For Folund, digital transformation is all about adopting new technology to improve the flow of information across an organization. In industries like e-commerce and supply chain management, integrating AI and cloud analytics has automated manual processes, allowing for faster, more reliable and repetitive data sharing across business functions. These innovations help companies make smarter, data-driven decisions and remain competitive in a fast-paced global market.
The role of digital transformation in business education
Just as technology is revolutionizing industries, it’s also transforming business education. Folund emphasizes that students must develop a deep understanding of business processes and the interconnectivity between organizations. The College of Business, he adds, ensures that graduates are not only comfortable using new technologies but also capable of making strategic, data-driven decisions that drive organizational success.
What students need to know
As students enter or re-enter the workforce, they must be prepared to engage with digital transformation firsthand. According to Folund, this means:
- Making data-driven decisions: While technology can automate many processes, businesses will always rely on people to validate, analyze and interpret outcomes—ensuring that decisions align with organizational goals.
- Understanding data: Knowing how information flows through an organization and learning to collect, manipulate, validate and interpret data effectively.
- Leveraging technology: Using AI, cloud analytics and automation tools to streamline processes and enhance business operations.