Digital Business transformation is on the minds of CIOs and LOB leaders alike. As evidenced by Saugatuck Technology’s 2014 Global Survey, there are several expected and explainable differences in Cloud and Digital Business adoption and use according to company size, IT vs. LOB position, IT adoption profile, and geographic region. But overall, Cloud and Digital Business continue to build juggernaut-like momentum through all types, sizes, and locations of business and businesspeople.
We define Digital Business as follows:
A Digital Enterprise or Digital Business leverages (and ultimately is built upon), a range of digital technologies to drive revenue and create value for customers via innovative business strategies, processes and interactive experiences. At its core, Digital Business empowers buyers and sellers through data and collaboration, enabling analytics-based insights and behaviors, and the ongoing creation (and enhancement) of digital offerings.
Digital Businessis, at its core, a means to optimize how, when, and where business is done using a dynamic array of Cloud-enabled resources with improved means of managing and monetizing those resources and the processes in which they are used.
This Research Alert provides summary highlights from Sauatuck’s newest 71-page Strategic Research Report published earlier today entitled Saugatuck Technology’s 2014 Global Survey: Cloud and Digital Business Strategy, Adoption and Success. The report provides deep-dive insight and guidance based on a global research program conducted earlier this year that included more than 200 senior business and IT executives.
Ongoing subscribers to Saugatuck’s Continuous Research Services (CRS) can download the full report after signing in to their Saugatuck accounts by clicking here (or use http://tinyurl.com/mngva7t). Non-clients can access the report by purchasing and downloading a single-user copy by clicking here (or use http://tinyurl.com/lnw3drj). Saugatuck is pleased to provide media and associated parties a copy for their professional use; please email email@example.com for access.
Why is it Happening?
Digital Business is about more than Innovation, yet Innovation is at its core. It’s also about opportunity, risk, and reward as organizations navigate the tricky shoals of digital transformation. Enterprise leaders believe that they have the functional resources and buy-in required for Digital Business success. However, experienced enterprise leaders also fear entrenched interests and organizational unwillingness to change, to invest in, to technologically enable, and to lead critical moves toward Digital Business.
As IT and Business Leaders participate in the transformation toward the Digital Enterprise, they are uncertain of their success and their potential for success. The data from our research suggest current, significant, “digitally”-driven changes in approaches to business. Three things in particular stand out:
- A majority of companies think they are providing an excellent digital experience regardless of whether they are;
- Most companies are now building digital products and services; and
- While monetization systems are widely understood to be critically important to succeed in digital business, they are not yet implemented widely.
Something is definitely missing.
Click here to read the Market Impact.
Originally published on Saugatuck Lens360 blog on August 28, 2014. Published with permission.