The industrial enterprise has one of the most compelling stories for digital transformation (DX). If you can’t fail fast, make sure you succeed slowly: The statements that speed is king, that action is … Q&A with Don Peppers: A CX Expert’s View on Digital Transformation and the Customer Experience. Despite the economic contraction, 70% of businesses plan to sustain or increase their 2020 investments in digital transformation, according to a survey of 3,000 global executives published … Looking back at 2020, most forecasts were simply discarded. Announcing: Our Shopify integration is available now! There’s a lot of technologies today that cannot be realized to their fullest due to … (CBInsights), 25. The average number of applications used in each organization is 900, making it very difficult for companies to provide a connected experience. Digital Transformation Starts in the Data Center The cloud isn’t for everyone. Ten years ago, telling people you could reduce their pain with a … By 2020, more than 40% of all data analytics projects will involve customer experience. Yet another important factor that business leaders must consider when investing in digital transformation is employee productivity – and that productivity depends on having digital skills. Here are the top key takeaways from the 2020 connectivity benchmark report: 1. For this report, Flexera has synthesized data from its industry-leading 2019 State of the Cloud, 2020 … At an MIT Sloan CIO Symposium panel earlier this year, Rodney Zemmel, global leader, McKinsey Digital of McKinsey & Company, identified December, 2019 as a time of “peak cynicism about digitization.” But then he went on to say, in 2020, “COVID accelerated the migration to digital.” Additionally, social commerce startups, resale platforms, and virtual shopping tools all received attention to improve the online shopping experience. On average, higher-maturity organizations’ digital transformation efforts are twice as broad as those at lower-maturity organizations (maturity is defined as the level of benefit derived from digital transformation efforts). Organizations using a step-by-step approach to digital transformation (having one foot in the existing business model while trying a new one) have reported only a 16 percent progress toward business change objectives, despite having worked toward business model transformation for 12 months. Digital transformation is the integration and adoption of digital solutions and technologies throughout an organization, transforming both internal operational efficiencies as well as how value is delivered to customers. This is the third of three blog posts looking at how the turmoil of 2020 has created divides between successfully digitally transformed enterprises and those who are falling farther behind. Healthcare Digital Transformation Trends. Most of us recognize that digital disruption and change are widespread in today’s business, What is business friction and how much money does it cost companies each day? … 5. It's a new network architecture for new interconnected centers of data. If you continue to use this site we will assume that you are happy with it. The digital revolution has opened up vast new possibilities for improving the customer experience. This inaugural Flexera 2020 Digital Transformation Planning Report examines how organizations are approaching digital transformation, including priorities, challenges and strategies. 26 Recent Digital Transformation Statistics [2020] - Acquire Organizations need to solve for increasing pressure on IT to open up bandwidth for delivering connected, personalized experiences for their consumers-from customers to partners to employees to developers. Only 34 percent of banks and insurers are including marketing in their transformation efforts. Digital transformation is driven by key business initiatives (Image: Mulesoft Connectivity Benchmark Report 2020) IT leaders recognize the need to accelerate digital transformation. The digital transformation market is expected to grow at a CAGR (compound annual growth rate) of 22.7 percent from 2019 to $3,294 billion by 2025. In some circles, "digital transformation" as a term was starting to wear out its welcome in 2019. Organizations need to solve for increasing pressure on IT to open up bandwidth for delivering connected, personalized experiences for their consumers-from customers to partners to employees to developers. For 39 percent of CIOs, digital transformation is the most important task given to them by their CEO. If we allow roughly 8 hours a day for sleep, that means we currently spend more than 40 percent of our waking lives using the internet. Analytics are the Competitive Advantage: Companies that still aren’t investing heavily in analytics by … Here are the top digital transformation trends that will impact how you manage data in 2020 and beyond. (Forrester), 20. In 37 percent of companies, CIOs lead transformation, while in 12 percent of companies, CMOs do. There’s a lot of technologies today that cannot be realized to their fullest due to … 1 Notes: 1 Our Digital Strategy Roadmap 2020 … This is the third of three blog posts looking at how the turmoil of 2020 has created divides between successfully digitally transformed enterprises and those who are falling farther behind. Digital transformation marks a radical rethinking of how an organization uses technology, people and processes to fundamentally change business performance, says George Westerman, MIT principal research scientist and author of Leading Digital: Turning Technology Into Business Transformation.Building and maintaining an effective data … Digital transformation is the integration and adoption of digital solutions and technologies throughout an organization, transforming both internal operational efficiencies as well as how value is delivered to customers. On average, they expect a 41% increase in top-line growth. 27% of companies say digital transformation is a matter of survival. Our Shopify integration is available now! The epidemic and government responses ripped through most market sectors. The three digital divides are digital enterprise, cloud migration, and big data … Figure 5: Digital TMT ecosystem value forecast 2015 2020 US$1.67 trillion US$2.36 trillion Voice/SMS Data Content and video loT and M2M … Companies move twice as fast on digital transformation when there is a shared understanding — among senior leaders, strategists and the organization as a whole — of the digital path ahead. The epidemic and government responses ripped through most market sectors. Digital transformation trends for 2020 When thinking about 2020, IT leaders should be prepared not only to lead a greater cultural shift in the enterprise, but also to prepare for DT-centric shifts in the IT service provider sector, get real about data … That business need begins and ends with the customer. We use cookies to ensure that we give you the best experience on our website. (Forrester), 7. Digital Transformation Statistics: 2020 Edition Here are a few digital transformation statistics that show why digital transformation matters and where it is headed: 65% of businesses … (Accenture), 23. December 7, 2020 (Forrester), 11. Insights and tools for digital transformation. A Year of Change: Digital Transformation Trends in 2020 The way we work and live has changed. More than a single exercise, true Digital Transformation … The MarketWatch News Department was not involved in the creation of this content. In short, these statistics and trends suggest that over the next several years, digital transformation will become even more important – and so will the digital skills needed to drive those initiatives. Insights and tools for digital transformation. December 7, 2020 It's a new network architecture for new interconnected centers of data. Online interactions, high-speed data processing, and data … In 2019, digital transformation is no longer a future state, or something to reconsider for the next fiscal year, it’s an initiative that needs to be woven into the very fabric of an organization. Organizations across industries — from financial services to retail — face … Treating patients with virtual reality. (Deloitte), 3. IoT is the essential digital transformation trend of the healthcare industry, as highlighted in our state of digital transformation 2020 survey. The industrial enterprise has one of the most compelling stories for digital transformation (DX). While 52 percent of companies plan to cut or defer investments because of COVID-19, just nine percent will make those cuts in digital transformation. Digital transformation is driven by key business initiatives (Image: Mulesoft Connectivity Benchmark Report 2020) IT leaders recognize the need to accelerate digital transformation. Dec 10, 2020 (Market Insight Reports) -- Selbyville, Delaware Global Digital Transformation Market Report … Digital companies continuously have to improve, transform, and automate their business processes, and digital … First and foremost, it pays to understand how customer expectations have changed, what is driving, What is the best way to streamline and maximize digital adoption through COVID-19? In this article, we will look at 20 digital skills and digital transformation statistics (2020 and beyond). (Research and Markets), 21. Digital transformation marks a radical rethinking of how an organization uses technology, people and processes to fundamentally change business performance, says George Westerman, MIT principal research scientist and author of Leading Digital: Turning Technology Into Business Transformation.Building and maintaining an effective data … Digital transformation has been an important business goal for years – there’s hardly an industry to be found that hasn’t tried their hand at applying advanced tech to transform their processes. New innovations and disruptions have driven digital transformation across the entire global economy, driving digitization, digital transformation, and digital adoption trends. (Gartner), 6. That’s probably why there’s a wealth of research out there producing hundreds of interesting digital transformation statistics – and it keeps evolving as new data comes to light. (IDG), 12. Three Kinds of Digital Transformation. 1. Organizations across industries — from financial services to retail — face … 20 Digital Skills and Digital Transformation Statistics [2020], Digital Transformation Statistics: 2020 Edition, Digital Transformation vs. Digital Shift: Why the Difference Matters, The Digital Shift Imperative: Transform or Fall Behind, How to Accelerate the Shift to Digital Channels: 3 Tips, How to Adapt to Changing Customer Expectations During COVID-19, 5 Tips to Help Ensure Full Digital Adoption Through COVID-19, 3 Ways to Improve Technology Acceptance in the Enterprise, Tips for Creating a Technology Acceptance Model Questionnaire, Digital Adoption Specialist 101: A Complete Job Profile, 5 Ways to Boost Digital Adoption Rates in the Workplace. Here are 5 of them you'd need to excel in the #digital workplace: https://t.co/ZHYsn0X8l8 pic.twitter.com/mKNRE0oxWZ. (IDG), 19. And, 37 percent of consumers are very likely to use telehealth in the future. Data silos are hindering digital transformation. Just 16 percent of executives say their company’s digital transformation efforts are succeeding. More than a third of CIOs anticipate difficulty in finding appropriate skillsets in the tech areas of cybersecurity and data science. Companies that use the Digital Factory approach report faster product launches, better customer experiences, and reduced tech development costs. Focus on soft skills: Just as digital transformation is more about people rather than technology, the … Eighty-one percent of insurers acknowledge that technology has become an inextricable part of the human experience. In its sixth year, Baker McKenzie’s 2020 Digital Transformation & Cloud Survey: The Future of Enterprise Data captures major trends and attitudes toward the use of data through a global lens of respondents … COVID-19 was the digital accelerant of the decade. Get the gist and four key takeaways to peruse at your own pace. According to Dell, 80% of organizations globally accelerated their digital transformation efforts in 2020… These days, digital transformation has become the norm, as reflected by the most current digital transformation statistics… Data silos are hindering digital transformation. intensity required to service the surging demand for mobile data. (McKinsey), 14. For some businesses, on-premises infrastructure upgrades simplify management, accommodate growth and improve the end … (Deloitte), 18. 1. Digital transformation trends for 2020 When thinking about 2020, IT leaders should be prepared not only to lead a greater cultural shift in the enterprise, but also to prepare for DT-centric shifts in the IT service provider sector, get real about data … Eighty-nine percent of CIOs say they’re more involved in leading digital transformation initiatives compared to their business counterparts (and 56 percent of counterparts agree). More than a single exercise, true Digital Transformation … Although 87 percent of senior business leaders say digitalization is a company priority, only 40 percent of organizations have brought digital initiatives to scale. For this report, Flexera has synthesized data from its industry-leading 2019 State of the Cloud, 2020 … Don’t have time to make sense of the stats? Read this e-book to learn what digital trends can help you maintain business continuity by enabling teams to … COVID-19 accelerated companies’ digital communications strategy by a global average of 6 years, with 5.3 years the UK average. Because of the COVID-19 pandemic, companies are moving previously on-premise tech to the cloud, and the migrated systems could remain there permanently. This inaugural Flexera 2020 Digital Transformation Planning Report examines how organizations are approaching digital transformation, including priorities, challenges and strategies. 50 Vital Digital Transformation Statistics: 2020 Spending, Adoption, Analysis & Data. The majority of company executives report that satisfying a specific business need is the primary catalyst for their digital transformation efforts. (PwC). Figure out which elements of digital transformation have worked (and which have failed). Forty-five percent of companies reporting a positive business impact of digital transformation also reported higher net revenue growth. The digital revolution has opened up vast new possibilities for improving the customer experience. Before the epidemic smashed into the world economy, there were rosy forecasts about the coming digital transformation. Q&A with Don Peppers: A CX Expert’s View on Digital Transformation and the Customer Experience. In this article, we’ll learn what business friction is, how it, In 2020, it became clear to many companies that they must accelerate the shift to digital channels. In its sixth year, Baker McKenzie’s 2020 Digital Transformation & Cloud Survey: The Future of Enterprise Data captures major trends and attitudes toward the use of data through a global lens of respondents … Insights and tools for digital transformation. The average number of applications used in each organization is 900, making it very difficult for companies to provide a connected experience. 96% of UK enterprise decision makers believe the pandemic sped up their company’s digital transformation… Here are the top key takeaways from the 2020 connectivity benchmark report: 1. Meanwhile, consumers expect consistent journeys across multiple channel… Digital transformation through data in 2020. Yet as most business professionals know, these digital trends have fueled the need for digital training – without digital abilities, after all, employee skills will fall short of the capabilities that employers need to drive digital change. (Gartner), 17. Retailers increased funding to e-commerce in Q2 of 2020 because of the pandemic. (Accenture), 4. Digital transformation is seen as a business driver for recovery by 4 out of 5 companies. (IDG), 13. Below, we’ll explore 20 of the most important statistics related to digital transformation and digital skills. Technology teams have demonstrated their abilities to enact major change in 2020; the challenge will be to ensure they remain at the heart of the new style of post-pandemic digital transformation. Improving customer experience and engagement is the top goal fueling digital transformation … In 2019, digital-first companies were 64 percent more likely than their peers to have exceeded their top 2018 business goal. Get a Sample copy of Digital Transformation Services Market research report@ https://bit.ly/34ZHQFY The report provides study at global and regional level to provide comprehensive … Before the epidemic smashed into the world economy, there were rosy forecasts about the coming digital transformation. More than 50% of the C-suite expect a return on digital transformation investments within 36 months. Conversational AI becomes a legitimate interface: I know, Siri still sucks (mostly), and it’s still near … Home » Digital Transformation » 20 Digital Skills and Digital Transformation Statistics [2020]. Get a Sample copy of Digital Transformation Services Market research report@ https://bit.ly/34ZHQFY The report provides study at global and regional level to provide comprehensive … The three digital divides are digital enterprise, cloud migration, and big data … A wonderful team of Digital Adoption, Digital Transformation & Change Management Experts. Dec 10, 2020 (Market Insight Reports) -- Selbyville, Delaware Global Digital Transformation Market Report … Digital transformation through data in 2020. Seventy-six percent of executives agree that organizations need to dramatically reengineer the experiences that bring technology and people together in a more human-centric manner. (Gartner), 10. (PwC), 15. Here are a few digital transformation statistics that show why digital transformation matters and where it is headed: These statistics clearly show that digital transformation is set to continue for the foreseeable future. Interested in becoming an Acquire Partner? At an MIT Sloan CIO Symposium panel earlier this year, Rodney Zemmel, global leader, McKinsey Digital of McKinsey & Company, identified December, 2019 as a time of “peak cynicism about digitization.” But then he went on to say, in 2020, “COVID accelerated the migration to digital.” (Forrester), 22. The global disruptions that began in 2020 have dramatically influenced the workplace. (Research and Markets), 8. We use cookies on this website to ensure you get the best experience. In some circles, "digital transformation" as a term was starting to wear out its welcome in 2019. The top digital transformation trends in 2020: * AI * DAP * Data * 5G * Xaas AI AI technology has advanced and it's accomplishing more than anticipated – from infant products to every aspect of … AI and Machine Learning Powering #2. Better understand the digital landscape – especially in a post-COVID-19 world with additional emphasis on remote work and. (McKinsey), 24. The MarketWatch News Department was not involved in the creation of this content. Online interactions, high-speed data processing, and data … Seventy-two percent of strategists say their company’s digital efforts are missing revenue expectations. (McKinsey), 9. Insights and tools for digital transformation. This research can help your company to: So, to help you form your own digital strategy – without having to scour through reams of percentages and graphs yourself – we compiled 26 of the most recent facts and statistics on digital transformation, both universal and industry-specific. AI, IoT, AR/VE, and cloud are growing trends in retail, (maybe even accelerated as a result of the pandemic). Looking back at 2020, most forecasts were simply discarded. Internet of Things (IoT) had the largest share of the overall digital transformation market in 2019, but AR/VR technology is predicted to have the fastest growth until 2025. Faster Connectivity. (Gartner), 16. 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