It’s easy to toss around the term Digital Transformation nowadays. Everyone needs to have a perspective on it in order to sound forward thinking. It seems to me that very few people know what it means. More importantly, very few people seem to have a clear definition of what it means specifically for their organizations, their roles, and their overall futures.Or so I think.
In order to bring our community together on the topic of Digital Transformation, we recently launched a research project aimed at service business leaders and strategists. The purpose of the project was two-fold:
- Uncover the different definitions of the term.
- Assess where organizations were in their digital journeys.
As I write this, we’ve had 25 leaders of service businesses voice their opinion and we shall keep the project open (take survey) till we hear from 50 leaders. A quick word on the early results.
Defining Digital Transformation
By far the most entertaining definition we received goes to, “Going from Flintstones darkness to Jetson light. From no data to ‘some’ data.” Others (seen below) were much more descriptive and the comment about minimizing data administration and maximizing data analysis is a really succinct way of approaching digital transformation. We need to move from the data collector stage to one where data analysis and data-driven decision making is where our resources are targeted.
Most leaders responding to our survey believed that being a digital business was vital to the success of their organization but only 50% indicated that their organizations had a clear and coherent digital strategy.
In executing on the strategy, 88% of leaders indicated that their organizations do not currently spend the appropriate amount time, energy, and resources on implementing digital business initiatives and that the coming years needed to see an increased level of investment and focus on the execution of an established digital business vision.
The desired results from planned digital transformations leaned heavily towards improving customer outcomes tied to proactively support customer needs while being more agile in reaction and response.
Organizations hope to achieve these outcomes with the aid of:
– Improved Technology Integration
– Better Management of Customer Touch points
– Increased Understanding of Customer Needs
– Customer-Focused New Product and Service Enablement
– Intelligent Service Worker Enablement
Before any of these activities and actions can occur, organizations need to ensure that they equip themselves with the appropriate digital leadership, digital talent, digital technology, and digital mindset. These are areas of assessment that our research project dives into.
I look forward to sharing more final results in the coming weeks. If you are a service business leader, I’d encourage you to spend some time with our research survey. As indicated, we are going to close it once we reach 50 total leaders.
If thirsty for some results and content on the topic, we’ve got you covered. Feel free to listen to our discussion on the topic during our recent webinar featuring leaders from KONE Americas and Merck Millipore. You can also sign up to listen to our findings call (Jan 23, 1pm Eastern) wherein we share the expanded results of our survey.