You Only Have 40 Months to Digitally Transform?
We (consumers) have all changed as a result of digital technologies and platforms. Enterprises must now follow and transform, in order to support these changes and compete. Our adoption of digital technologies produces oceans of data that are today changing the competitive landscape. Digital leaders will be those organizations that use business analytics to offer deep insights into customer behaviors, wants and needs, develop new products and services, and ultimately innovate and exploit new business opportunities. Tomorrow’s winners will need to digitally transform in order to take advantage of this data. While all industries in our study believe digital transformation is important to their future success, belief does not always translate into action; our data shows many are still failing to act. One of the most surprising findings in our study is the magnitude of difference between digital leaders and digital laggards. Digital leaders anticipate huge business impacts from a wide range of digital technologies over the next 40 months, while in many cases, digital laggards don’t. These differences are reflected in each group’s priorities, budgets and strategies, and will guide their future competitiveness.
There are now over 7.6 billion mobile devices around the world – more than there are working toilets (4.5 billion)1 . By 2020, a projected five billion smartphones will be connected to the Internet with access to millions of mobile applications. Near ubiquitous access to mobile and digital technologies has resulted in massive volumes of new data available for analysis, skyrocketing customer expectations and the need for speed. These forces are shaking up IT. IT managers in our study believe the business impact of mobile technologies on their companies will jump 78% by 2020; this, in turn, will elevate the importance of cybersecurity. In fact, respondents list cybersecurity as the technology issue with the biggest business impact on their companies over the next few years
The migration of business and commerce to mobile devices is forcing IT departments to rethink, redesign and restructure. Sales, marketing, payments and customer service are migrating to mobile and digital environments. You may think mobile is already huge, but executives in our study think its business impact will increase by another 105% in the next 40 months. Big demands and expectations from mobile and digital customers are already producing unprecedented stress on the ability of “traditional” IT to respond and out-perform the competition. Traditional IT environments were never designed for real-time speeds; moreover, conventional business processes were not designed for real-time operational tempos.
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- Digital Technologies and the Greater Good
- Video Report: 40 Months of Hyper-Digital Transformation
- Report: 40 Months of Hyper-Digital Transformation
- Virtual Moves to Real in with Sensors and Digital Transformation
- Technology Must Disappear in 2017
- Merging Humans with AI and Machine Learning Systems
- In Defense of the Human Experience in a Digital World
- Profits that Kill in the Age of Digital Transformation
- Competing in Future Time and Digital Transformation
- Digital Hope and Redemption in the Digital Age
- Digital Transformation and the Role of Faster
- Digital Transformation and the Law of Thermodynamics
- Jettison the Heavy Baggage and Digitally Transform
- Digital Transformation - The Dark Side
- Business is Not as Usual in Digital Transformation
- 15 Rules for Winning in Digital Transformation
- The End Goal of Digital Transformation
- Digital Transformation and the Ignorance Penalty
- Surviving the Three Ages of Digital Transformation
- The Advantages of an Advantage in Digital Transformation
- From Digital to Hyper-Transformation
- Believers, Non-Believers and Digital Transformation
- Forces Driving the Digital Transformation Era
- Digital Transformation Requires Agility and Energy Measurement
- A Doctrine for Digital Transformation is Required
- Digital Transformation and Its Role in Mobility and Competition
- Digital Transformation - A Revolution in Precision Through IoT, Analytics and Mobility
- Competing in Digital Transformation and Mobility
- Ambiguity and Digital Transformation
- Digital Transformation and Mobility - Macro-Forces and Timing
- Mobile and IoT Technologies are Inside the Curve of Human Time