79% of strategy leaders expect their business models to fundamentally change as a result of digital technologies. Download your digital transformation roadmap: GartnerIT DigitalTransformation IT Digitalization
For instance, those operating in stable industries without signs of imminent disruption should prioritize optimization, as transformation risks becoming an expensive distraction too far ahead of customer adoption. By contrast, those operating in disrupted sectors must prioritize transformation in key business areas, as waiting risks irrelevance, leading to the erosion of revenue and margin.
Enterprise culture also influences the mix of optimization and transformation initiatives. More aggressive companies often select a bolder digital transformation path because they want to be early adopters — about 30% of CEOs push this approach, according to the 2020 Gartner CEO and Senior Business Executive Survey. Average companies may instead pursue an optimization path.
Late-adopter companies may do neither, and instead take the approach of digital technology enablement by implementing digital technologies such as cloud, SaaS, APIs or digital channels. This approach results in more IT capability without true optimization or transformation.Digital business optimization involves improving or optimizing current revenue streams, operations or customer experiences without changing the organization’s core value proposition or business models.
Most enterprises weigh their digitalization mix in favor of optimization, which creates a foundation for future digital transformation.Examples include analytics and AI initiatives aimed at helping organizations to improve their demand/supply forecasts, and optimize prices and promotions. Digital marketing and sales technologies can also encourage larger or more frequent purchases or contract values.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Search SAMHSA Publications and Digital Products | SAMHSA Publications and Digital Products
Read more »
Supply Chains Building a Digital Twin of the CustomerCSCOs must accelerate their digital investment. Download the report to learn how to integrate supply chain digital twin of a customer in your organization. Supply Chains Building a Digital Twin of the Customer Integrate DToCs into your digital supply chain strategy Digital twin of the customer (DToC) is an emerging technology that will have a transformational impact on supply chain’s ability to mitigate risk, manage supply & demand and enhance customer experience
Read more »
Strategic Planning Tools: What, Why, How, TemplateGet actionable insights and an exclusive customizable one-page template to turn strategy into action with our strategic planning toolkit. Learn what strategic planning is and how it helps enterprises, functions, and business units achieve long-term strategic objectives.
Read more »
Robust diplomacy is an obligation for Türkiye's strategic position: Erdogan“We are in pursuit of protecting Türkiye’s interests by employing all the tools of diplomacy and all the elements of hard and soft power”, President Erdogan says as he addresses Turkish ambassadors at the 14th Ambassadors Conference in Ankara
Read more »
Disney Considering “Variety of Strategic Options” for Linear TV NetworksCEO Bob Iger further pushes the idea that its broadcast and cable assets might be on the block.
Read more »
Coinbase Ventures' Strategic Investment Sends Rocket Pool Token SurgingThe investment branch announced today the purchase of an undisclosed amount of Rocket Pool’s native token RPL, which has jumped more than 9% in the past 24 hours.
Read more »