There is a growing concern among business leaders in every vertical sector about staying competitive. Companies that are unlike any that have gone before are appearing in markets. The digital transformation of business represents both a competitive threat and a market opportunity.
Retail banks with no branches, hospitality chains without hotels, media companies that do not author content. By investing in modern infrastructure and operating wholly digitally, they can leverage massive scale to transform markets on a global basis. By amplifying the power of digital, they disturb the market equilibrium, challenge operating norms and transform accepted business models.
Therefore, as reference points for their own digital transformation strategies, executives at enterprises and public organizations worldwide commonly identify with four key pillars of competitive differentiation to target with internal digital transformation initiatives. These four pillars are:
- Improving customer experience (or employee or citizen experience, depending on the use case)
- Improving operational efficiency
- Increasing the level of agility of the organization
- Better managing business risk
In exploring executive sentiment toward digital transformation, as well as the extent, focus and maturity of digital transformation strategies among organizations that are representative of the modern enterprise, this major study reveals key indicators of current status and identifies some major emerging trends.
