We Don’t Know What Digital Transformation Is, But We Need It!
Most executives agree that a digital transformation is necessary to remain competitive, keep pace with disruptive technologies and evolve with shifting consumer expectations. Still, many are unsure of how to start the process, or even what it entails.
eMarketer defines digital transformation as the process by which business leaders harness the capabilities and advances of emerging technologies to digitally reinvent their company’s operations, products, marketing, culture and goals for future growth.
Primary Way in Which Their Company Defines Digital According to Business and IT Executives Worldwide, Nov 2016 (% of respondents)
Technology is the means to transformation, not an end in itself. Instead the focus should be on setting a clear goal for the future, then setting a strategy based on that vision.
According to eMarketer’s latest report, “Digital Transformation 2017: Disrupting ‘Business as Usual,’” most executives believe that digital transformation is necessary, although it is not always obvious what digital transformation is—or how to approach it.
In fact, many executives can’t even agree on their company’s definition of digital. “If you put 20 [executives] in a room and ask them to define ‘digital,’ you are guaranteed to get 20 different answers,” said Anand Eswaran, corporate vice president of Microsoft Services and Microsoft Digital.
29% of respondents said digital is synonymous with the work of IT, 14% believe digital is about customer-facing technology activities and another 14% said digital refers to all investments the company makes to integrate technology across the business. The only thing clear from this survey is that there is no consensus.
Further Reading:
- “McKinsey Looks at Four Keys to Successful Digital Transformation in #Pharma”; http://sco.lt/7X5AK9