XT … Digital Transformation + Consumer Trends
Digital transformation is the shiny new object for every company out there. The numbers are staggering. Businesses spent more than $1 trillion on digital transformation initiatives in 2017, a number that’s forecast to grow to $1.7 trillion by 2019. They’re chasing quite a prize: the World Economic Forum estimates the potential global impact of digitalization as being $100 trillion.
However, despite all this, only half of leaders feel they’re successfully executing their digital strategies, with one in five secretly thinking the projects are a waste of time!
Of course there are many reasons why projects fail: a resistant culture, lack
of leadership, technical or operational complexity. But here we’d like to offer four reasons why too often the focus on ‘digital transformation’ misses the point, and show how injecting a consumer trend perspective can help increase your chances of success above that 50% mentioned above. Kind of important when spending your slice of that $1.7 trillion.