As we’ve dived into Digital Transformation, we use the baseline set by Altimeter as a great definition. They provide a clear and concise picture on which to hang the Digital Transformation Story. They just updated their 2016 State of Digital Transformation and it’s worth reviewing.
I like the fact that they focus on more than just technology. Any good digital transformation initiative has to think about three key areas:
- Customer Experience
- Digital Technologies (front and back end)
- Cultural and Organizational change
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There’s a lot to read in the 25 pages but here are a few items that I found interesting:
At the same time, many organizations continue to wrestle with the balance of technology and organizational priorities to define a collaborative and productive path toward change. In many ways, IT remains influential in driving digital transformation.
in 2014 we found that 88% of companies were undergoing digital transformation as a means to improve CX, but only 25% had mapped their customer journeys.1 In 2016, companies are making progress,but customer-centricity still appears to be more about words than actions.
Digital Transformation is largely led by the CMO (34%)
Just 29% of companies have a multi-year roadmap to guide digital transformation
These sound bites and more point out that Digital Transformation is important. Companies focus on it. However many fail in one key area: Insights. You can map out your future until you know where you are and who are your customers. Once that’s done, you can create your vision, strategy, and roadmap. Failing that, it’s hard to map it out.
Anyway, it’s worth reading the entire thing.