Aug 15, 2016 Turning the Gears of Digital Transformation Copy
Eight principles characterize companies using technology for true transformation.
Digital transformation initiatives are in full swing at nearly 70% of companies. But the extent of those initiatives–and their level of success–varies greatly.
Nemertes Research recently completed a detailed study to evaluate digital trends and best practices among 368 companies. One of the most prevalent issues is simply understanding what digital transformation really is, and what principles comprise the latest buzz phrase.
Digital Transformation Defined
At its basic level, digital transformation requires a) the innovative application of technology to b) improve something that ultimately c) drives value. These three components are interlocking, as a set of gears in a well-oiled machine. If one gear stops, the entire machine fails. Companies can implement new technologies, but if they do not improve something, they will realize no new value — and therefore, no transformation.