Welcome!

@ThingsExpo Authors: Kevin Benedict, Elizabeth White, William Schmarzo, Liz McMillan, Pat Romanski

Blog Feed Post

The Impact of Digital Transformation

Digital transformation is a revenue growth engine according to fifty futurists we surveyed.  Many companies are already experiencing significant benefits and gaining competitive advantages. The futurists predicted the top five impacts of digital transformation on businesses by the year 2020 will be:
  1. Speed to market
  2. Competitive positioning
  3. Revenue growth
  4. Productivity
  5. New distribution channels 
Given the importance of these top-five on revenue growth and the future success of a business, who would not want to digitally transform their enterprise?  Non-believers that's who.  Non-believers, aka laggards, in our study of 2,000 executives don't believe in significant digital transformation now, or in the future.  They don't demonstrate a sense of urgency or a recognition of the massive changes happening around them today.  They seem blind to the fact companies are witnessing an increase in revenue already from their digital transformation investments.
Digital transformation-believers aka digital leaders, however, are investing significantly more now, and receiving positive ROIs on their investments already.  As a result, they plan to invest greater amounts in the future, and predict higher ROIs in the future relative to non-believers.
Based on our survey data, believers and non-believers are seeing alternative realities.  Non-believers, if they don't quickly become converts, are going to face increasing challenges staying competitive and relevant against digitally transformed competitors.
When we asked mid-level managers to list the top 10 mistakes companies are making regarding digital transformation today, they listed the following in order of rank:
  1. Moving too slowly
  2. Lack of clear digital strategy
  3. Company has the wrong leadership for digital transformation
  4. Investing too little in new technology
  5. Not focusing enough on cyber-security
  6. Culture that discourages innovation
  7. Lack organizational structures to drive digital transformation
  8. Ignoring fresh thinking from external sources
  9. Not educating the entire organization on digital transformation
  10. Neglecting to hire the right digital talent
This list describes the actions or non-actions we are seeing from non-believing companies.
Let's pull all our findings together and review once again:
  • Futurists see digital transformation as a revenue growth engine
  • Believers are already reporting positive ROIs, and as a result, plan even higher levels of investment and revenues in the future.
  • Non-believers are investing little today, seeing little ROI, and are planning relatively little investment in digital transformation in the future.
  • Mid-level managers report the biggest challenges are moving too slowly, a lack of a clear strategy, wrong leadership and too little investment in new technologies.
  • The revenue gap between what believers and non-believers predict in the future as a result of digital transformation is significant across all industries.  Survey participants believe the bulk of the revenue gains will be achieved by the year 2020, with incremental gains continuing thereafter.  That is only 3.5 years from now. Yikes! That reflects a view that more revenue is available now for fast movers.  It also suggests a realization that a lot of work needs done quickly.  Non-believers, because of inaction and/or a lack of investment, seem likely to miss out on these early revenue gains and will suffer competitively.
Businesses must invest the time and effort now to understand the impact of digital transformation on their industry, market and company.  Once there is situational awareness achieved and a clear vision articulated, a digital transformation doctrine needs to be developed and socialized so strategies can be developed to achieve the vision set forth in the doctrine.  What technologies should believers invest in over the next 3.5 years to achieve digital transformation?  In the opinions of over 2,000 survey participants the largest business impacts will come from the following technologies:
  1. Big data/business analytics
  2. Cyber-security
  3. Cloud
  4. Collaboration technologies
  5. Mobile technologies
  6. IoT/sensors
  7. Artificial intelligence
  8. Digital currency
  9. Sharing economy
  10. Social Media 
When asked for year 2025 predictions, survey participates anticipate a similar list, but with even higher business impacts from each.
It is interesting that core systems like ERPs, CRMs, HCMs and SCMs were not identified as driving high business impact.  I am wondering if companies still view digital transformation as "add-on" technology?  In my view, a business' ability to convert from "human-time" to "digital-time" and operate at a real-time operational tempo requires digital transformation across the entire ILS (information logistics system).  The ILS is the master or umbrella system that manages and processes data across the entire organization to optimize business performance and customer interactions.  This ILS system includes all the core systems that today, often involve legacy systems incapable of supporting the new world of digital-time.  It is my analysis that many companies will ultimately be required to replace legacy core systems in order to accomplish true digital transformation.
If you find yourself sitting in IT and business meetings every week listening to how existing legacy IT systems will not permit new business processes, new business services, new business models and new innovations required to compete and win, then you should recognize those are red flags and things can get ugly, quickly.
When the New Year's ball drops at midnight and year 2020 comes around, will you be found among the believers?  Stay tuned for my new report on digital transformation technologies and strategies.
Read more on digital transformation strategies here:
  1. Forces Driving the Digital Transformation Era
  2. Digital Transformation Requires Agility and Energy Measurement
  3. A Doctrine for Digital Transformation is Required
  4. The Advantages of Advantage in Digital Transformation
  5. Digital Transformation and Its Role in Mobility and Competition
  6. Digital Transformation - A Revolution in Precision Through IoT, Analytics and Mobility
  7. Competing in Digital Transformation and Mobility
  8. Ambiguity and Digital Transformation
  9. Digital Transformation and Mobility - Macro-Forces and Timing
  10. Mobile and IoT Technologies are Inside the Curve of Human Time

************************************************************************
Kevin Benedict
Senior Analyst, Center for the Future of Work, Cognizant Writer, Speaker and World Traveler
View my profile on LinkedIn
Follow me on Twitter @krbenedict
Subscribe to Kevin'sYouTube Channel
Join the Linkedin Group Strategic Enterprise Mobility
Join the Google+ Community Mobile Enterprise Strategies

***Full Disclosure: These are my personal opinions. No company is silly enough to claim them. I am a mobility and digital transformation analyst, consultant and writer. I work with and have worked with many of the companies mentioned in my articles.

Read the original blog entry...

More Stories By Kevin Benedict

Kevin Benedict is an opinionated futurist, Principal Analyst at the Center for Digital Intelligence™, C4DIGI.com, emerging technologies analyst, and digital transformation and business strategy consultant. In the past 8 years he has taught workshops for large enterprises and government agencies in 18 different countries, and is a keynote speaker at conferences worldwide. He spent nearly 5 years working as a Senior Analyst at Cognizant (CTSH), and 2 years serving in Cognizant's Center for the Future of Work where he wrote many reports, hundreds of articles, interviewed technology experts, and produced videos on the future of digital technologies and their impact on industries. He has written articles published in The Guardian, wrote the Forward to SAP Press' book titled "Mobilizing Your Enterprise with SAP", published over 3,000 articles and was featured as thought leader and digital strategist in the Department of Defense's IQT intelligence journal. Kevin lectures and leads workshops, teaches and consults with companies and government agencies around the world to help develop digital transformation and business strategies. Visit his website at C4DIGI.com.

@ThingsExpo Stories
Product connectivity goes hand and hand these days with increased use of personal data. New IoT devices are becoming more personalized than ever before. In his session at 22nd Cloud Expo | DXWorld Expo, Nicolas Fierro, CEO of MIMIR Blockchain Solutions, will discuss how in order to protect your data and privacy, IoT applications need to embrace Blockchain technology for a new level of product security never before seen - or needed.
Recently, REAN Cloud built a digital concierge for a North Carolina hospital that had observed that most patient call button questions were repetitive. In addition, the paper-based process used to measure patient health metrics was laborious, not in real-time and sometimes error-prone. In their session at 21st Cloud Expo, Sean Finnerty, Executive Director, Practice Lead, Health Care & Life Science at REAN Cloud, and Dr. S.P.T. Krishnan, Principal Architect at REAN Cloud, discussed how they built...
Nordstrom is transforming the way that they do business and the cloud is the key to enabling speed and hyper personalized customer experiences. In his session at 21st Cloud Expo, Ken Schow, VP of Engineering at Nordstrom, discussed some of the key learnings and common pitfalls of large enterprises moving to the cloud. This includes strategies around choosing a cloud provider(s), architecture, and lessons learned. In addition, he covered some of the best practices for structured team migration an...
Recently, WebRTC has a lot of eyes from market. The use cases of WebRTC are expanding - video chat, online education, online health care etc. Not only for human-to-human communication, but also IoT use cases such as machine to human use cases can be seen recently. One of the typical use-case is remote camera monitoring. With WebRTC, people can have interoperability and flexibility for deploying monitoring service. However, the benefit of WebRTC for IoT is not only its convenience and interopera...
SYS-CON Events announced today that Synametrics Technologies will exhibit at SYS-CON's 22nd International Cloud Expo®, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Synametrics Technologies is a privately held company based in Plainsboro, New Jersey that has been providing solutions for the developer community since 1997. Based on the success of its initial product offerings such as WinSQL, Xeams, SynaMan and Syncrify, Synametrics continues to create and hone inn...
Digital Transformation (DX) is not a "one-size-fits all" strategy. Each organization needs to develop its own unique, long-term DX plan. It must do so by realizing that we now live in a data-driven age, and that technologies such as Cloud Computing, Big Data, the IoT, Cognitive Computing, and Blockchain are only tools. In her general session at 21st Cloud Expo, Rebecca Wanta explained how the strategy must focus on DX and include a commitment from top management to create great IT jobs, monitor ...
The 22nd International Cloud Expo | 1st DXWorld Expo has announced that its Call for Papers is open. Cloud Expo | DXWorld Expo, to be held June 5-7, 2018, at the Javits Center in New York, NY, brings together Cloud Computing, Digital Transformation, Big Data, Internet of Things, DevOps, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
"Digital transformation - what we knew about it in the past has been redefined. Automation is going to play such a huge role in that because the culture, the technology, and the business operations are being shifted now," stated Brian Boeggeman, VP of Alliances & Partnerships at Ayehu, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and simple way to introduce Machine Leaning to anyone and everyone. He solved a machine learning problem and demonstrated an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intelligence and B...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
Cloud Expo | DXWorld Expo have announced the conference tracks for Cloud Expo 2018. Cloud Expo will be held June 5-7, 2018, at the Javits Center in New York City, and November 6-8, 2018, at the Santa Clara Convention Center, Santa Clara, CA. Digital Transformation (DX) is a major focus with the introduction of DX Expo within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive ov...
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, examined the regulations and provided insight on how it affects technology, challenges the established rules and will usher in new levels of diligence arou...
SYS-CON Events announced today that Evatronix will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Evatronix SA offers comprehensive solutions in the design and implementation of electronic systems, in CAD / CAM deployment, and also is a designer and manufacturer of advanced 3D scanners for professional applications.
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. In his session at @BigDataExpo, Jack Norris, Senior Vice President, Data and Applications at MapR Technologies, reviewed best practices to ...
"Evatronix provides design services to companies that need to integrate the IoT technology in their products but they don't necessarily have the expertise, knowledge and design team to do so," explained Adam Morawiec, VP of Business Development at Evatronix, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
No hype cycles or predictions of a gazillion things here. IoT is here. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, an Associate Partner of Analytics, IoT & Cybersecurity at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He also discussed the evaluation of communication standards and IoT messaging protocols, data...
22nd International Cloud Expo, taking place June 5-7, 2018, at the Javits Center in New York City, NY, and co-located with the 1st DXWorld Expo will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud ...
22nd International Cloud Expo, taking place June 5-7, 2018, at the Javits Center in New York City, NY, and co-located with the 1st DXWorld Expo will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud ...