These days, digital transformation has become the norm, as reflected by the most current digital transformation statistics. Fueled by speedy internet everywhere, digitization now plays a critical role in adding business value. Proof of this is the way organizations have been investing in AI and top business intelligence platforms.
If you have yet to digitize your business, you’re missing out a lot. And chances are, your competitors are already into it. Just look at current business intelligence statistics to find out how digital tech has been improving the business landscape.
To give you a rundown of how digital transformation has been doing these, we have gathered some of the most relevant digital transformation data available. This should help you find a way to leverage these stats to improve your business.
Today’s organizations have been embracing digital transformation, with many companies having put a digital strategy in place. Now, such is true not only for large enterprises but even for startups, exponentially increasing the digital transformation market size. Various industries have been getting into the fray, among which are financial services and healthcare. Now, adopting a digital strategy doesn’t mean that your business will grow overnight. It takes years before organizations reap the benefits of such a strategy, a fact that is recognized by many of them.
Improve operational efficiency%
Meet changing customer expectations%
Improve new product quality%
Increase design re-use%
Reduce product developmen costs%
Introduce new revenue streams%
Reduce cost of poor quality%
Increase first pass yield%
Source: ptc.comDesigned by
Digital transformation, as the term implies, relies on the use of new tech to modify key business processes and even existing services. There are a variety of technologies that companies are currently using in coming up with digital strategies. Technologies such as artificial intelligence, cloud computing, and the Internet of Things are at the forefront of the push for digitalization. You need only to see artificial intelligence stats to affirm this. Meanwhile, check out the digital transformation technologies statistics listed below to learn more about these techs.
Digital transformation is indeed a boon for many companies, hence the high adoption rate of digital technologies. However, jumping into the digitization bandwagon does not guarantee success. Seventy percent of such initiatives have been found to fail to reach their goals. The problem is seen to lie in the management of such strategies. Of course, digital asset management software benefits can help address these complications. But then again, tech managers often overlook factors such as business strategy, employee concerns, and customer experience, resulting in less than ideal outcomes. Proper management leads to excellent results; just take a look at the following stats that prove this point.
Internet of Things
Source: kpmg.com 2018Designed by
Improved revenue and stock prices are but two of the numerous benefits that digital transformation offers. However, financial benefits outshine all others as these are the main goals of every enterprise. Companies such as Target, Best Buy, and Hasbro, who were sensitive enough to capitalize on digital technology, have reaped their benefits early in the game. It, therefore, follows that all manners of technology vendors have gained significant digital transformation market share. If you look at the statistics below, you’ll see how much organizations have been investing in digital transformation.
Digital transformation has proven instrumental in improving corporate coffers and shareholder value. High-Technology B2B sales are seen to emanate from digitalization. This view reinforces the fact that digital transformation is a game-changer for may enterprises. Consider the revenue derived from digital transformation, as reflected in the following statistics.
CEO or board of directors%
Senior executive team (C-suite other than CEO)%
Source: futurum.com 2018Designed by
New technologies are integral to digital transformation. However, many of these techs are disruptive and nature, making it difficult at times for organizations to adapt to the changes that they bring about. Technology disruptions can impact a variety of business areas, among them job creation. Find out more about how technology disruption has been impacting companies in the following stats.
Digital transformation is known to impact employees directly. This influence can either be positive or negative, depending on one’s standpoint. On the lighter side, digital transformation cannot occur without employees, which also entails the acquisition of highly-coveted digital skills. On the other hand, digitization is also seen to affect the existing job market adversely. Digitization has also paved the way for the creation of corporate roles that call for a different type of skillset. For example, the career path of digital project managers veers away from conventional project management roles.
Helped create a few new jobs%
Has only killed a few jobs%
Has definitely been a job killer%
Helped create a lot of new jobs%
Digital transformation will not be possible without technology adoption. Slow technology adoption could prove to be a problem as many businesses have admitted to being slow in technology adoption. However, many companies claim to be comfortable with digital transformation and technology use, which sets the ideal condition for digitization. Check out the statistics below to know more.
A recent digital transformation market report has revealed that digital technologies have indeed touched key industries and continue to spread to other sectors. Massive reception of technology is mainly due to the financial and growth opportunities that come with digitization.
The use of digital technology has also resulted in the creation of new corporate roles that require digital skills. Given these developments, practicality dictates that adoption be immediate.
The statistics we have presented are not only meant to inform. These can likewise be used in coming up with your digital business strategy or beef up your existing one.
In this case, investing in new technologies like artificial intelligence, business intelligence, and the best digital asset management software solutions is highly recommended.
But before you go around shopping for one, consider your digital strategy and what you want the tool to accomplish.
Also, get to know its features, pricing, and overall value for money. Observe these practices and you’ll be on your way to having a robust digital business strategy.
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