What is digital transformation? The use of any digital technology to provide better products, services and experiences. Whether you’re McGraw-Hill Education reinventing its personalized shopping experience, or retailers becoming more and more like publishers, or the numerous other possibilities, business in today’s world of rapid digital disruption and emerging device and social platforms need to have an action plan.
This week’s infographic is not so much a collection of stats as a rundown on the present and future of digital transformation, adapted from Infomentum’s CEO’s Guide to Dealing With Digital Disruption (via SmartInsights blog).
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What holds back digital transformation?
- Company culture
- Increasing pace of change
- Constant search for expertise
- Red tape and regulation
3 steps to digital transformation
1. Define your digital strategy – Where is your priority? Play to your strengths and consider your culture
2. Identify your digital leader – CTO, CMO, CIO or contracted Chief Digital Officer?
3. Open up and integrate – understand the API economy to streamline processes
The future of digital
Will all brands become technology firms?
Online and offline worlds are merging
Developing nations will drive innovation
IT budgets focused on digital experiences, not technologies
Keep up with the rate of change
1. Encourage innovation, then watch it grow
2. Know your strengths, but be open to change
3. Trust your customers