Succeeding at Digital Transformation in today’s world

1. Succeeding at Digital Transformation in today’s world

2. Succeeding at Digital Transformation in today’s world Critical Ingredient in Digital Transformation Digital transformation seems to be at the top of every firm’s priority list these days. Firms that transform with digital technologies gain a competitive advantage over their industry peers. Those that don’t are falling behind. But amidst all of the urgency, one of the most fundamental elements usually gets overlooked or misunderstood in this process, and that’s data. Analytical processes and models bring many forms of data together to produce insights and answers for business. And then why is this part of digital transformation so difficult and time-consuming? The answer lies in the difficulty in changing our habits, both for the enterprise and for the individual. For enterprises, the long-standing habits of gathering, hoarding, and protecting data by function or team make it nearly impossible to integrate as an enterprise-wide asset. As individuals, we tend to trust the intuition and judgement we’ve developed over our entire careers. The idea of using data to support our decisions can be a hard adjustment. Sometimes the data we’re presented with run counter to our intuition, putting us in a quandary, and because we don’t all have Ph.D.’s in statistics, the advanced analytical models can be intimidating, causing distrust and suspicion. So, two points to remember: First, data and analytics are the bedrock foundation of any digital transformation. They need to be looked after early on. Second, digital transformationis much more about culture and behavior change than technology.

3. Succeeding at Digital Transformation in today’s world Succeeding in Digital Transformation Digital transformation is a $1.5 trillion industry as of 2021. And you know what? Approximately 70% of all digital transformation projects fail. That’s a horrible percentage in terms of failure. We can’t think of any industry that would be fine with that. And yet, this is something that we all live with for two very simple reasons. One, because understanding what digital transformation entails is a constant source of consternation. And if you’re not really clear about what you’re doing, you’re not necessarily setting yourself up for success. And then the second thing is the clarity of how to execute, which is something that’s evolving because digital capabilities and transformation are relatively new subjects, and the field is still evolving. Driving clarity on what digital transformation is and how you execute it is important. And I’ve made my fair share of mistakes before coming up with a model, which I call my five-stage model for digital transformation. 90% of the challenge is organizational change. And so, you have to bring in HR organization change methodology, and that needs to be the holistic execution necessary for digital transformation. So, what you can do, given this horrible 70% failure rate, is firstly, get very, very disciplined about understanding the latest in how to define digital transformation and how to execute it.

4. Succeeding at Digital Transformation in today’s world Technology is changing the way business is done.  Gain insights into the impact of technology and prepare to move into the future with Digital Transformation. Cigniti has masterfully spearheaded enterprise-wide digital transformations both at the Quality and Control levels of the project phases. Cigniti is at the forefront of Digital Transformation towards its esteemed customers, transforming the way they do business by leveraging its flagship solution initiatives like Digital Assurance and the BlueSwan suite. Need help? Talk to our Digital Transformation experts to learn more about succeeding at digital transformation in today’s world. Read Full Blog at: https://www.cigniti.com/blog/succeeding-digital-transformation