Digital transformation leaders
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What drives successful investments in digital technology? How do the motivations of digital leaders differ from those of companies behind the digital curve? Do leaders buy tech expertise or build it in-house? Check out the topline results from The Economist Intelligence Unit report "Digital Evolution: Learning from the leaders in digital transformation. And download the full report, sponsored by Accenture and PegaSystems here: http://bit.ly/1N6Pvo6
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Digital transformation leaders
- 1. Masters of disruption: Businesses adapt to digital change Source: Digital evolution: Learning from the leaders in digital transformation. Economist Intelligence Unit survey of 444 global executives. Sponsored by Accenture and Pegasystems.
- 2. More than one-third of companies today say their business is evenly split between digital and traditional activities. Another 10 percent describe themselves as fully digital businesses and 7 percent are fully traditional. Today’s companies are increasingly digital Source: Digital evolution: Learning from the leaders in digital transformation. Economist Intelligence Unit survey of 444 global executives. Sponsored by Accenture and Pegasystems. More digital More traditional All-traditional All-digital Even split 36%
- 3. What drives digital transformation? Source: Digital evolution: Learning from the leaders in digital transformation. Economist Intelligence Unit survey of 444 global executives. Sponsored by Accenture and Pegasystems. 0% 10% 20% 30% 40% 50% 60% 70% Enable real-time transactions Market leadership Disrupting before being disrupted Competive dynamics New technologies Digital laggards Digital leaders Goals and Drivers
- 4. “Things are moving so fast, companies that have been built over 100 years are disappearing… Digital Darwinism is unkind to those who wait.” R. “Ray” Wang, CEO & Founder, Constellation Research and author of Digital Disruption Survival fears are not misplaced Source: Digital evolution: Learning from the leaders in digital transformation. Economist Intelligence Unit survey of 444 global executives. Sponsored by Accenture and Pegasystems.
- 5. Leaders are driven to compete Digital leaders are acting to stay ahead of the competition, laggards are fine-tuning operations Source: Digital evolution: Learning from the leaders in digital transformation. Economist Intelligence Unit survey of 444 global executives. Sponsored by Accenture and Pegasystems. 0% 10% 20% 30% 40% 50% 60% Improve customer satisfaction/loyalty Market leadership Disrupting before being disrupted Improve efficiency Complement/diversify core business Laggards Leaders Top digital priorities
- 6. Most of the businesses that consider themselves digital leaders have more than one C-level executive in charge of digital transformation. Digital leadership is not a one-person job Source: Digital evolution: Learning from the leaders in digital transformation. Economist Intelligence Unit survey of 444 global executives. Sponsored by Accenture and Pegasystems. Leaders One C-level executive Two or more executives 65% Laggards One C-level executive Two or more executives 49%
- 7. 60% of companies said investments in real-time analytics are paying off; one in five say they are doing better than expected. Only social media and mobile technology investments are delivering a better value. Real-time data powers digital transformation Source: Digital evolution: Learning from the leaders in digital transformation. Economist Intelligence Unit survey of 444 global executives. Sponsored by Accenture and Pegasystems.
- 8. “We created an information management unit as a standalone business… It’s a foundational underlier for any company that wants to undergo this transformation.” Blake Cahill, Global Head of Digital and Social Marketing, Philips Information management investments are a priority for digital transformation Source: Digital evolution: Learning from the leaders in digital transformation. Economist Intelligence Unit survey of 444 global executives. Sponsored by Accenture and Pegasystems. Centers of excellence are a useful structure
- 9. Leaders know when to ask for help Leaders in digital transformation are more likely to farm out technical expertise, but they already feel their management functions are strong, so they don’t need to invest as much internally. Source: Digital evolution: Learning from the leaders in digital transformation. Economist Intelligence Unit survey of 444 global executives. Sponsored by Accenture and Pegasystems. 0% 10% 20% 30% 40% 50% 60% Mergers/Acquisitions Invest internally Partnerships/Joint ventures Investing in startups Outsourcing processes Laggards Leaders Which of the following have you undertaken to boost your digital capabilities?
- 10. 90% of companies said they expect at last half their business functions to be digitally enabled in five years, compared to 70% today; 23% expect to be fully digital in five years, compared to 10% today. Digital transformation is a continuing process Source: Digital evolution: Learning from the leaders in digital transformation. Economist Intelligence Unit survey of 444 global executives. Sponsored by Accenture and Pegasystems.
- 11. To download the full report, “Digital evolution: Learning from the leaders in digital transformation” go to http://bit.ly/1N6Pvo6 Check out more insights, research and viewpoints from marketing leaders and The Economist Group’s experts on Lean back. Want more? Check out www.economistgroup.com/leanback FollowLeanback: