Digital Transformation is still accelerating. Read through these stats to quickly catch up on the state of digital, and what to expect in the future.
The popularity of Digital Transformation increased by over 50% in the past year. Digital will soon become the new normal. Now is the time to stack up on your Digital Transformation stats.
“Digital transformation is the profound and accelerating transformation of business activities, processes, competencies and models to fully leverage the changes and opportunities of digital technologies and their impact across society in a strategic and prioritized way.”
Sprinkle everyone at the coffee machine and in the boardroom with some Digital Transformation stats to let them know you’re on top of the game. A colleague claims European companies are more digitally mature than North American companies…
Boom! You’ve got the stats to prove him wrong.
Here is a list of stats will teach you 4 important things about the state of Digital Transformation: how far organizations have come in adopting Digital Transformation, what organizations are trying to achieve with Digital Transformation, which obstacles companies are facing, and which in direction digital is likely to go in 2017.
We’ve ordered the stats according to these categories.
- Current adoption
- Future steps
Take a couple of minutes to read through this list of stats and transform yourself into a Digital Transformation expert.
1. Current adoption
26% of organizations are ‘completely ready’ to execute digital strategies
Only 10% of companies describe themselves as fully digital
47% of companies haven’t started to embark on Digital Transformation
7% of European companies rate their digital maturity as ‘advanced’, while 19% of North American companies do
44% of B2B high tech firms take a holistic approach to testing data, while 29% of other firms do
Digital Transformation initiatives are currently led by: CMOs (34%), CEOs (27%), CIOs/CTOs (19%), CDOs (15%), CXOs (5%)
70% of executives have started the Digital Transformation of their supply chains
88% of firms are using third-party providers for at least one component of their Digital Transformation
87% say that Digital Transformation is a competitive opportunity
5% say they have mastered digital to a point of differentiation from their competitors
56% of businesses assess the impact of digital in relation to customer experience
45% of executives expect digital to grow their revenue, and 25% of executives expect digital to create better customer experiences
Factors having the greatest influence to set Digital Transformation priorities (source)
55% of those that haven’t started their Digital Transformation say they’ll adopt one in the coming year
81% say digital maturity efforts have definitely differentiated their company
84% rank developing a whole customer view as a as very important investment in next 3 years
Around 88% of companies with emergent digital maturity rank developing a ‘whole customer view’, ‘predictive marketing’ and ‘attribution modeling’ as (very) important, while around 97% of digitally advanced companies do.
39% say implementing a digital strategy across the organization is their biggest Digital Transformation challenge
43% say developing new business models and strategies to increase connectivity and engagement is their biggest Digital Transformation challenge
Many executives see too many competing priorities (43%), the lack of an overall strategy (33%), security concerns and insufficient technical skills (25%), and a lack of organizational agility (25%) as the top five barriers keeping their organization from taking advantage of digital trends
29% of businesses currently see ‘metrics and measurements’ as critical to their digital success
Percentage of companies saying different types of digital marketing initiatives are challenging (source)
43% of organizations with a mature digital strategy see internal departments competing to own digital as the most significant barrier to Digital Transformation
40% say they need to increase senior leadership sponsorship and oversight to reach their Digital Transformation objectives
39% say they need to establish the right organizational and governance model to reach their Digital Transformation objectives
41% say gathering the resources needed to advance digital maturity is challenging
32% say recruiting employees with the right digital skills is their biggest Digital Transformation challenge
34% say finding or developing the necessary talent is an obstacle to reaching their Digital Transformation objectives.
4. Future steps
By the end of 2017, two-thirds of the CEOs of Global 2000 companies will have Digital Transformation at the center of their corporate strategy
39% of marketers plan to increase their digital budgets without increasing overall marketing spend, essentially reallocating existing budgets into digital channels
55% of companies without an existing Digital Transformation program say the timeframe to adopt one is a year or less
33% of companies are developing their plans for Digital Transformation, but won’t execute in the next 12 months.
Importance of capabilities or investment areas over the next 3 years (source)
By 2017, 60% of companies with a Digital Transformation strategy will deem it too critical for any single one functional area and create an independent corporate executive position to oversee the implementation
92% of business say that intelligent automation (the combined use of artificial intelligence and automation) will be put to wider use within their company during the next 12 months
88% of companies say creating a connected experience is a priority for 2017
28% plan to invest in ALL of structure, people, processes, and tools to advance digital maturity
Ready to align your Digital Transformation goals and tasks top to bottom?