Many businesses don't have a digital transformation strategy

Four out of five business leaders think their industry will get positively disrupted by digital transformation within the next three years. This is according to a new report recently released by Microsoft and Harvard Business Review Analytic Services.

"A vast majority (80 percent) of the 783 survey respondents believe their industry will be disrupted by digital trends," the report states. "And most of those (84 percent) said their industry has either passed the inflection point of disruption or will pass it by 2020 -- just three years away."

However, the report states that the race is still on.

"Companies that form their strategies now, shift resources to new digital initiatives, and redesign their organization and culture will have a distinct advantage."

What’s worrying is that less than half of those business leaders have a digital strategy set up, to take advantage of the opportunity.

"Fewer than half of respondents (47 percent) say their organization has developed and communicated a formal business strategy for the digital future -- surely a cause for concern, given the imminent threat of disruption most organizations say they face," it says.

When moving to digital, for the majority of organizations, the focus is on creating an awesome user experience. As a matter of fact, 40 percent see user experience as their number one priority.

The report was released on Wednesday, during Microsoft’s Digital Difference event, where dozens of companies came to showcase how they’re driving digital transformation.

For more information on the customer experiences that were on display at the event visit Microsoft’s Digital Transformation Microsite.

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