Digital transformation (DX) is not only an innovation trend – it is at the focal point of business strategies across all industry sectors and markets.
Top-down strategy by top leaders: The integration of DX in the core strategy is the way to design new business models and it starts with the intent of top executives.
“IDC predicts – By the End of 2017, Two-Thirds of the CEOs of the G2000 Will Have Digital Transformation at the Center of Their Corporate Strategy.”
The rise of chief digital officer: Digital transformation is a customer focused business strategy. CEO will require additional help. It will be difficult for CEOs to alone carry the torch.
“IDC predicts – By 2017, 60% Companies with a DX Strategy Will Deem It Too Critical for Any One Functional Area and Create an Independent Corporate Executive Position to Oversee the Implementation”
Customer is the key and King: Companies who have customer best practices in their strategy will even like to take this higher and will create new business ways and innovations around customer Omni-experiences.
“IDC predicts – By 2018, 80% of B2C Companies Will Have Created Immersive, Authentic Omni-Experiences for Customers, Partners, and Employees; 60% of B2B-Centric Companies Will Have Done the Same”
New Investment areas will drive innovation: The contextual learning of customers touch points will define and create the new business opportunities.
“IDC predicts – The Top New Investment Areas Through 2017 Will Be Contextual Understanding and Automated Next Best Action Capabilities.”
Information is capital: High value information will be monetized and will give rise to new business models and also new ways to do the business in digital economy.
“IDC predicts – In 2016, 65% of Large Enterprises Will Have Committed to Become Information-Based Companies, Shifting the Organizational Focus to Relationships, People, and Intangible Capital.”
Business process and economic models will be digitally transformed: The operational efficiency will be dramatically increased. Digital transformation will be seen in the change of operating and economic models.
“IDC predicts – By 2018, 75% of the G2000 Will Have Deployed Full, Information-Based, and Economic Models or “Digital Twins” of Their Products/Services, Supply Network, Sales Channels, and Operations”
Enhanced productivity from new process: The software (or information) based delivery of processes will drive enormous additions in efficiency.
“IDC predicts – By 2020, 60% of the G2000 Will Have Doubled Their Productivity by Digitally Transforming Many Processes from Human-Based to Software-Based Delivery”
Everything is hyper-connected: Internet of Things (IoT) is defining the new hyper connectivity and will infiltrate products, processes, and assets will create entirely new ways of conducting business.
“In 2016, the Level of Connectivity Related to Products, Assets, and Processes Will Increase 50% for All Industry Value Chains”
Sharing economy is here to stay: The companies that are defining the sharing economy (Uber, Lyft, Airbnb, etc.) have come long way and compelling enormous associations to begin speculation to make completely better approaches to achieve the client.
“IDC predicts – The Sharing Economy Will Give Rise to the Networked Free Agent and Skill-Based Marketplaces, Resulting in More than 10% of Work Being Sourced in this Fashion in Mature Economies by 2019”
Smart workers with smart tools: The new age decision making tools not only will drive the productivity of employees, but employee engagement will be at new highs.
“IDC predicts – By 2018, at Least 20% of All Workers Will Use Automated Assistance Technologies to Make Decisions and Get Work Done.”
Written by Shekhar Bhartiya