Digital transformation is top strategic priority for half of execs
Digital transformation is at the top of the strategic agenda for enterprises, and half of executives surveyed believe the next two years will be critical for their organizations.
These are among the findings of a new report by Forbes Insights, in association with Hitachi Data Systems, which surveyed 573 senior executives worldwide as well as holding one-on-one conversations with top executives.
Among the findings are that investing in new technologies to enable digitization is the top investment priority for 51 percent over the next two years, along with increasing data and analytics capabilities also cited by 51 percent.
Drivers for transformation include new business models (41 percent), followed by new technologies (40 percent). Ability to innovate is the top measure of transformation success (46 percent), along with revenue growth (46 percent), and cost reduction (43 percent).
The use of data and analytics is already paying off, with 91 percent having already seen revenue increases as a result. However, only a third of companies consider themselves leaders in customer experience based on their digital transformation, which points to underutilized potential.
"At the center of transformation is data. It is both the creator and accelerator that has proven to be the currency of IT organizations. By failing to unlock the potential of data, organizations are falling short of their own transformation," says Asim Zaheer, chief marketing officer at Hitachi Data Systems. "Hitachi is at the center of this customer transformation and the leader in data strategy, creating incredible opportunities for organizations to manage, govern, mobilize, learn from and ultimately transform insights into actions for business".
More detail on the findings is available in the full report which can be downloaded from the Forbes Insights website.
Image Credit: Ollyy / Shutterstock