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The 2017 State of Digital Transformation

Digital transformation is more than a buzz word even though it has definitely achieved that status. In reality, digital transformation is one of the most promising business movements modernizing constructs and models for a digital economy. The name however, can be misleading. “Digital” is more than technology. It’s adapting businesses to operate with digital mindsets and perspectives supported by modern technologies across the organization and markets. But, every company thinks about and approaches digital transformation differently. It’s one of the reasons I spent over a year documenting how companies evolve in “The 6 Stages of Digital Transformation.”

To track how organizations progress along the 6 stages (or don’t), I, along with my Altimeter colleagues, study the state of digital transformation and publish an annual report to share our findings. I’m proud to announce that the “2017 State of Digital Transformation” is now available for download (free with email gate).

Now in its third year, we surveyed more than 500 executives and digital strategists to understand the current challenges and opportunities they are facing as they undergo a digital transformation. In 2017, we reveal how, why, and to what extent businesses are investing in digital strategies, initiatives, and operational models. The good news, we’re happy to report, is that a growing number of businesses are investing in innovation strategies to uncover new growth opportunities. The bad news is that most companies we surveyed are ignoring the pervasive changes happening to connected consumers’ buying behaviors and as such, they’re making investments that are not truly customer-centric.

Defining Digital Transformation

To reflect the current state and direction for our 2017 report, we continue to evolve our definition of digital transformation. This year, we have slightly amended the definition to mean:

The investment in and development of new technologies, mindsets, and business and operational models to improve work and competitiveness and deliver new and relevant value for customers and employees in an ever-evolving digital economy.
Report Highlights

Even though “digital transformation” is a popular topic, data reveals that many companies are still not operating with a sense of urgency to invest in new technologies, models and teams.

Source of Opinion

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