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Businesses across the globe are restructuring to brace themselves for the digital transformation wave. Up until now, the core focus for digital transformation endeavors was about adopting new and emerging technologies. However, without organization restructuring, it would be much like beating around the bush.
Digital transformation already has been disrupting several industry verticals right from media to retail and gaming to marketing and travel. Yes, cutting-edge competition is driving businesses to foot in big when it comes to digitization efforts.
– According to IDC and tech analysts, the worldwide spending on digital transformation efforts including services, software and hardware this year was a whopping $1.3 trillion, which is expected to reach a staggering $2.1 trillion by 2021.
– More than 50% of organizations believe that integrating digital techniques and solutions is the key to digital success in 2019.
– Data driven organizations are more likely to enjoy:
– Customer experience to become a top-priority aspect by 2020 overtaking product and price as the key differentiator among brands.
– IoT will start delivering tangible results by 2019
– More than 50% of businesses will invest for performance
As of now, more than 70% of businesses deem improved customer experience as the biggest benefit of digital transformation. Smart businesses will focus more on what their customers want and would use intelligent data to understand them whilst restructure key business operations.
Here’s a cool infographic on the same:
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Disclaimer: All the information, opinions and views expressed in this blog are exclusively of the authors and their respective sources (web) and in no way reflect the views, objectives or principles of Sage Software Solutions (P) Ltd.