Traditional change is difficult and time consuming for businesses. Now that digital transformation appears, more & more to be settling in the labor market it is noticed that more businesses seem to make an even greater effort to adapt to this new type change.
Digital transformation creates a system for gathering the right data and incorporating it fully for business intelligence at a higher level. It creates a way that different functional units within an organization can translate raw data into insights across various touch-points.
Digitizing information makes it easier to preserve, access, and share. For example, an original historical document may only be accessible to people who visit its physical location, but if the document content is digitized, it can be made available to people worldwide.
Although it seems to be moving to an era of massive digital literacy, the success of digital transformation process for businesses lacks. The successful percentage of successful implementations does not appear to be rising – creating a lot of questions with the most important to be “Is the world ready for digital transformation?”
Yes ! The business world is ready for digital transformation – after following a set of more than 35 best practices that have proven to have the highest success rate – and falling under the following categories:
- Leadership
- Capacity Building
- The empowering of each company’s employees
- Upgrading tools
- Communication
By taking into consideration the categories above, companies can pinpoint the most important factors that they will need to work on to increase their chances of successfully going through digital transformation.
Over the past decade, more and more efforts are being made towards massive collective efforts to adapt digital transformation. It appears that the actions are being taken and are somewhat successful. The percent, however, still remains low. The reason is not so much the success of the actual effort but focus mostly on their unsustainable nature.
Although exceptions would be expected, tech, and digitally savvy industries for example, even there the success rate does not seem to be able to go over 30%. It also appears that companies employing less than 100 employees have a higher rate of successfully implementing digital transformation actions than companies with more than 30.000 employees.
To be continued….
Stay tuned for the second part of “Digital Transformation – Analysing the Future of Business”
Until then.. learn more about our project..
