How To Create A Digital Ecosystem

A practical approach to Digital Transformation and best practices by leading CIOs

- Shrikanth G

Last year an Accenture study said that: “Companies no longer perceive digitization as an end state. Instead, it is an ongoing process aimed at two objectives: Greater operating efficiency and new customer experiences. Realising the potential of digitization, 96 percent of the senior executives surveyed by Accenture globally, said that they are investing in digital to pursue these twin goals. Some of the leading retail companies, interviewed in India for the purpose of the report, for example, have started leveraging digital technologies such as virtual reality to enhance in-store customer experiences and drive sales simultaneously adopting digital to optimize operations and achieve higher operational efficiencies.”

ADOPTION DYNAMICS 

So clearly digital is the way forward and both supply and demand side of It is gearing for it. let’s look at some more numbers. For instance, IDC says, worldwide spending on the technologies and services that enable the digital transformation (DX) of business practices, products, and organizations is forecast to be more than $1.1 trillion in 2018, an increase of 16.8% over the $958 billion spent in 2017. DX spending will be led by the discrete and process manufacturing industries, which will not only spend the most on DX solutions but also set the agenda for many DX priorities, programs, and use cases.

In the newly expanded Worldwide Semiannual Digital Transformation Spending Guide, International Data Corporation (IDC) examines current and future spending levels for more than 130 DX use cases across 19 industries in eight geographic regions. The results provide new insights into where DX funding is being spent as well as what DX priorities are being pursued.