Best way to understand digital transformation (DX) is to see the facts & stats about it so you can understand
Based on a survey of 1,200 mid to large scale US companies, the average digital transformation budget was $14 million in 2018 and it is expected to increase. Knowing more about digitization can help you make more data-driven decisions about your digital transformation investments.
Our comprehensive list of digital transformation stats for business leaders and researchers comes from authoritative sources such as Gartner, Mckinsey, etc. These can help you better assess your digitalization needs, start taking actions and stay ahead of the competition.
According to most research and consulting firms, digital transformation is an even more important topic after the pandemic. Businesses are likely to invest more in emerging technologies such as AI, IoT, and AR/VR in upcoming years.
Though a larger proportion of companies are still at the beginning of their transformation process, they acknowledge that a digital-first business strategy can lead them to success.
Customers are at the core of the digital transformation. As businesses enhance customer experiences, they will gain a competitive edge that will help them surpass their competitors in the increasingly competitive marketplace.
Customers expect businesses to be at where they are. With that said, omnichannels enable businesses to provide a centralized experience across all channels and touchpoints for customers. Thanks to omnichannel retailing, organizations can increase their revenue by retaining their customers.
To get the most from digital transformation, companies need to know the challenges and avoid pitfalls such as resistance to chance, challenges in finding the right skill set, compliance concerns slowing down initiatives or the difficulty of measuring its ROI.
Most digital transformation efforts and pilot initiatives fail that’s why learning the best practices is important.
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