Intended for digital strategists and executive leadership responsible for driving digital transformation for their organization.
Building on his 2014 research of digital transformation, principal analyst Brian Solis studied how companies are changing, and the challenges and opportunities they face while undergoing a digital transformation. Based on insights and data from more than 500 digital strategists and executives, the report found that companies are still facing significant challenges to operating in a digital economy.
The report, "The 2016 State of Digital Transformation,” shares the latest facts and figures on the top drivers, challenges, and best practices of companies that are undergoing a digital transformation.
During our research, we identified key insights and trends impacting companies going through a digital transformation.
- Customer Experience (CX) remains the top driver of digital transformation but IT and marketing still influence technology investments.
- 55% of those responsible for digital transformation cite “evolving customer behaviors and preferences” as the primary catalyst for change. Yet, the number one challenge facing executives (71%) is understanding behavior or impact of the new customer.
- Only half (54%) of survey respondents have completely mapped out the customer journey. This means that many companies are changing without true customer-centricity.
- 41% of leaders surveyed said they’ve witnessed an increase in market share due to digital transformation efforts, and 37% cite a positive impact on employee morale.
- The CMO vs. CIO: Digital transformation is largely led by the CMO (34%) not the CIO/CTO (19%).
- Innovation tops digital transformation initiatives at companies today. 81% said it was at the top of their agenda, 46% stated their company has launched a formal “innovation center.” Right behind innovation was modernizing IT infrastructure (80%) and improving operational agility (79%).
Undergoing a digital transformation? Contact us for a digital maturity assessment.
To help companies navigate the digital transformation journey, Prophet has developed a diagnostic that assesses a company’s digital maturity. The tool provides an objective look at the current digital state vs. ideal future state while identifying major perceived gaps and opportunities that can be pursued as part of the digital transformation journey. Contact us today to learn more.
Watch our webcast recording with industry analyst, Brian Solis, where the discusses the current trends, driver and top challenges companies face while undergoing a digital transformation.