“With just 10 percent of IT allocated to generating new business value, incumbents are not battle ready when it comes to contending with nimble tech players. As any investor would tell you, place your resource bets where you believe there is value.”
Three-quarters of the organizations surveyed by Gartner increased customer experience (CX) technology investments in 2018. Customer analytics continues to be one of the biggest investments, with 52 percent intending to increase funding in 2019, focusing on customer journey analysis, customer needs analysis, voice of the customer (VoC) and digital marketing.
“Bain research has found that only 12% of all corporate transformations achieve their targets, and, while we are in the early days with many stories still being written, digital transformations appear even harder.”
via Bain & Company
The top agility inhibitors in IT and other business services functions is mediocrity. One reason is that IT is almost exclusively trying to improve by reducing complexity; it’s doing next to nothing to change its culture.
“Our research at the MIT Center for Information Systems Research has found that companies cannot scale new digital business models if they have not digitized. In other words, they need core systems, processes, and data that provide operational excellence.”
via Sloan Review
IDC estimates that the lack of available IT skills will result in over $90 billion in lost revenue annually in Europe by 2020. Across the globe, there is a huge demand to attract the right emerging skillsets needed to excel in digital transformation.
via IDC UKI