Digital transformation is the use of technology to optimize business processes and operations. This approach can be applied across the enterprise, from customer-facing innovations to back-office efficiencies. It’s about more than just adopting new tech; it’s about creating a culture of change that empowers teams to continually challenge old operating models and experiment with new approaches.
Many organizations have embraced digital transformation as a way to drive innovation, improve operational efficiency and enhance competitiveness. However, the vast majority of these efforts fail to deliver on their expected outcomes. Some researchers estimate that 70%+ of transformation projects miss their intended business outcomes, and others suggest it’s closer to 95%.
The key to avoiding failure is a data-driven strategy that identifies pain points for both employees and customers. It’s also important to monitor changes through tracking operational KPIs and identifying optimization opportunities. Lastly, it’s critical to consider the organizational structure needed to support digital transformation, as this can make or break success.
Having the right people on your team is essential for success. Participants shared that digital transformation requires a mix of skills, from software engineers and cloud computing specialists to DevOps leaders who can help galvanize the development process to agile methodologies for rapid iteration and faster delivery. Data scientists, forensic analysts, UX designers and conversational brand strategists are also vital roles that enable companies to roll out innovative products and services to meet today’s demanding customer expectations. Moreover, these individuals must be comfortable using the tools and technologies necessary to accomplish their work.
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