Why Digital Transformation Is a Make-or-Break Proposition

This article talks about how there is a growing global community of digital citizens that are demanding more from businesses, and that meeting these demands can be make-or-break for the business. Jeremy Burton, president, Products and Marketing, at EMC, gives five make-or-break attributes that companies must gain through digital transformation:

1. The capability to predictively spot new opportunities in markets
2. The capability to demonstrate transparency and trust
3. The capability to innovate in agile ways
4. The capability to deliver unique and personalized experiences
5. The capability to operate in real time

For each of the attributes mentioned above, less than 15% of business leaders believe their company is doing well in that area. By 2020, 30 billion devices will have created 44 trillion gigabytes. There is serious value to be gained from this data that will help companies gain the five attributes, but “49% of business leaders admitted they do not know how to turn all of their data into actionable information.” Do you think companies are truly performing that poorly in these areas or are the business leaders not confident in their company’s performance? In what ways could a company improve in any one of the five areas? How can they begin to turn their data into actionable information?