Next two years crucial for digital transformation

If you want to transform your business, you better do it now.

Digital transformation is the number one priority for large enterprises everywhere, a new report by Forbes Insights and Hitachi Data Systems claims. A total of 573 senior executives have been polled for the report, and half claim digital transformation is essential for turning marginal growth into exponential growth. Digitisation of business is considered the accelerator for "bending the curve on productivity, time to market, deployment of new business models and revenue generation”. 

Most companies seem to be on the right track, the report claims, but has listed five steps which are identified as necessary for a successful journey. First, it is a must to make transformation a top strategic priority. Then, digital transformation needs to be driven by business outcomes. Then, the full potential of data and analytics needs to be used, followed by an enterprise-wide approach to digital transformation. And finally, companies need to learn how to marry technology with human resources.

“Digital transformation is now essential for corporate survival,” said Bruce Rogers, Chief Insights Officer at Forbes Media. 

“And it’s more about people and culture—about change management—along with investing in the technology.” “At the centre of transformation is data. It is both the creator and accelerator that has proven to be the currency of IT organisations. By failing to unlock the potential of data, organisations are falling short of their own transformation,” said Asim Zaheer, Chief Marketing Officer, Hitachi Data Systems. “Hitachi is at the centre of this customer transformation and the leader in data strategy, creating incredible opportunities for organisations to manage, govern, mobilise, learn from and ultimately transform insights into actions for business.”  

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