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Digital Transformation – how we can resolve conflicting data

Digital transformation.  I so hate the term… but there’s data, and I can’t resist.  Plus, while the term is awful, there’s lessons here.

More than two-thirds (67%) of CIOs believe they will become more influential in the process of corporate or IT innovation and 63% believe they will be more influential with workers, according to a Constellation Research survey  of 100 leading CIOs.

But maybe all these tools aren’t working – Logi Analytics 2021 State of Analytics: Why Users Demand Better survey showed that knowledge workers spend more than five hours a day in analytics, and more than 99% consider analytics very to extremely valuable when making critical decisions. Unfortunately, many are dissatisfied with their current tools due to the loss of productivity, multiple “sources of truth,” and the lack of integration with their current tools and systems.  Oh, and adoption rates are still below 30%.  

NTT says the same thing — Only 22.7% of digital transformation efforts in Asia Pacific are optimized, according to new research from NTT.

NTT has released its 2021 Global Managed Services Report, which found that one year since the onset of the pandemic, organizations globally have undergone major transformations as they seek to strengthen resilience, increase agility and deliver greater efficiencies.

 In Asia Pacific, 89.7% of business and IT leaders agree COVID-19 has caused significant changes to their operating processes, while 91.8% say it has accelerated their digital transformation strategy. 

Globally, 69.9% of operations teams believe the need for a technology strategy that drives business efficiency opportunities is crucial, yet only 48.0% of IT teams agree. Further, 69.6% of operations teams globally consider speed and agility a key component of technology strategy, in contrast to only 53.4% of IT teams.

But, let’s tell an SMB focused story too.   TechAisle is reporting research that 37% of small businesses and 46% of midmarket firms did accelerate their efforts… but 27% of small companies prioritized other things and slowed down.    In the research.. 17% of SMBs are restructuring their entire organizations, and 24% are creating new functions around digital transformation.    This gets larger as the organization increases in size.

And so we ask… why?   Well, 78% of consumers now prefer to use online or mobile payments instead of payments in person.     

Why do we care?

It’s the story.  Working backwards here.   Customers and consumers both want to use digital means.    They want higher level of service and they want a more holistic customer experience.

The bigger the company the more likely they are to be investing there.   IT teams themselves may be disconnected from the business priorities of their companies.   Those same teams appear not to be delivering value from the tools they have deployed.   The business wants these analytics… but aren’t necessarily getting them.     Those IT leaders, however, believe they are part of the solution.

This sounds easy – be the groups that deliver on the promise of the technology.  If it was easy everyone would be doing it.  The good news is that those who CAN are high value… and thus high profit.