- How is your business model being disrupted by digital?
- How could you leverage technology and digital capabilities to anticipate changing market behaviors?
- What are the strategic opportunities to digitize?
- Do you have the right capabilities in-house to achieve digital transformation?
- Can you monetize your data or build new services?
Digital transformation was once all about the customer, from e-commerce to digital marketing. Customer service strategies focused on online interaction, online payments were introduced and marketing campaigns were tailored to a digitally native generation.
But now, 74% of respondents in our survey say digital has had a substantial or transformative effect on their business operations and processes, even more than on their relationships with customers (66%) and vendors and suppliers (59%). Just as pertinently, only 1% strongly believed that digital was having a minimal impact on their industry.
So, increasingly, companies are infusing digital innovation throughout the organization, shifting their focus from front-office customer concerns to back-end business matters and, indeed, the whole customer value chain.
Technologies such as the Internet of Things, artificial intelligence and big data, coupled with the ongoing growth in the creation and sharing of information, are changing the traditional business ecosystem in three distinct ways.