6 Common Pitfalls You Must Avoid To Succeed with Digital Transformation
A lot of money is flowing into Digital Transformation (DX) initiatives. Worldwide spending on the technologies and services that enable the digital transformation (DX) of business practices, products, and organizations is forecast to reach $2.3 trillion in 2023, based on an IDC spending guide. The IDC findings reveal that DX spending will steadily expand throughout the 2019-2023 forecast period, achieving a five-year CAGR of 17.1%. Yet 70% of all DX initiatives do not reach their goals. A WSJ survey of business leaders and executives found that digital transformation (DX) risk was their #1 concern in 2019. Why do most transformations fail? What can business leaders do to improve the odds of success? George Westerman, principal research scientist, MIT, defines DX as “using technology to improve an organization’s performance and reach radically.” Research from MIT shows that businesses that have become digital masters are 26% more profitable. According to Gartner, DX…
