While a execution of a digital mutation has emerged as a tip vital priority for many organizations, stability dependencies on bequest technologies emanate barriers to such efforts, according to a new consult from Forbes Insights and Hitachi. However, a concomitant report, “How to Win during Digital Transformation,” reveals that companies are dynamic to acquire new technologies to capacitate a transformation—especially products that raise information analytics capabilities. Other tech categories of seductiveness for larger creation embody a cloud, mobility, a internet of things (IoT) and amicable media. With these technologies, business and IT leaders wish to urge their ability to broach optimal digital patron experiences, an area that is now deliberate a diseased indicate in many organizations. To safeguard success, companies will need to overcome a mindset that says a digital mutation is particularly “a tech thing,” rather than an enterprisewide commitment. “Technology is during a core of each digital transformation, with a digital mutation needed ushering in an epoch of rare change,” according to a report. “However, digital mutation is not about technology. Rather, it uses record as a means to an finish and goes over business. Digital mutation is as many about a mutation of how people work and a cultures of organizations as it is about technology. Its many formidable charge is to change a approach we think.” More than 570 tellurian C-level executives took partial in a research.
Top Priority
50% of the C-level execs surveyed said completing a digital transformation is a top priority for their company over the next two years, followed by corporate expansion (38%), new products and services (35%), and business diversification (24%).
IT Spend
51% said the acquisition of new technologies to enable digitalization is a top investment priority over the next two years, and the same percent of execs cited the need for greater data analytics capabilities.
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Big Benefits
45% of the respondents consider their organization as “advanced” or a “leader” in pursuing digital transformation-driven improvements in efficiency, customer experience and business models.
Measuring Stick
46% said the ability to innovate and grow revenue are the most significant measures of success for digital transformation initiatives, while 43% cited cost reductions.
External Drivers of Digital Transformation
New business models: 41%, New technologies: 40%, Industry competition: 36%, Customer expectations: 35%, Disruptive competitors from other industries: 23%
Tech Focal Points for Digital Transformation
Cloud: 64%, Mobile: 44%, Analytics: 42%, Internet of things: 31%, Social media: 30%
Consumer Concerns, Part I
40% of survey respondents admitted that their digital customer experience efforts are, at best, “generally inconsistent and not well-integrated.”
Consumer Concerns, Part II
More than a quarter said that, while their business uses digital tools to provide consistent customer experiences and services, they are not truly innovative on this front.
Challenges in Achieving Digital Transformation
Legacy technologies: 29%, Lack of talent in the enterprise: 23%, Failure to collaborate on data and analytics: 23%
Mixed Reading
61% of the IT execs surveyed said the tech organization is most involved in the implementation of their company’s digital transformation strategy, but just 45% of business execs agree.
