6 key factors determine the success of digital transformation, study finds
While the motivating factors for digital transformation initiatives differ across industry sectors, six factors generally determine the success of these projects: leadership, people, agility, business integration, ecosystem and value from data. These could be seen as the organizational capabilities that need reinforcement in order to bring about successful digital transformation, the study said.
That is one of the findings of a new study by technology company Fujitsu Ltd. The company found that in finance, manufacturing and healthcare, decision makers are mainly motivated for digital transformation by the need to increase operational efficiency, while transportation companies are driven to respond to competitive threats and retail companies are looking for business growth.
The company surveyed 1,535 C-level executives and decision-makers at organizations of various sizes across different industries in 16 countries in February 2018. The finance industry is the furthest advanced in digital transformation initiatives, the report said, with about 90 percent of respondents in that sector already engaged in digital transformation.
Many companies from each industry are already achieving business results from their digital transformation initiatives. In finance and retail, 30 percent of projects have already delivered successful outcomes.
See Also Five myths of digital transformation
Business leaders understand that artificial intelligence (AI) is set to have a significant impact on their industries, organizations, and society. A majority of respondents are positive about AI’s future development, with 68 percent thinking the future will involve people and AI working collaboratively.