Here’s a hard truth about digital transformations: Many are failing. Organizations fail because they build an analog mindset into digital. Digital technology is not a simple software upgrade. It demands a complete transformation.
A lot of times that organizations decide to tackle the 800-pound gorilla called Digital Transformation, they have no clue where to start.
We dug a bit of research for you, and this blog is a brain dump that aims at exposing the various granular levels at which you can start your Digital Transformation journey at your organization. Basically, there are four starting points for every digital transformation.
The four starting points are not mutually exclusive, but rather, overlap with one another. For example, the connected starting point makes data more transparent and available, which are capabilities needed for autonomous as well. Each starting point is also categorized by the predominant focus of value. For example, while connected tends to focus more on how value is delivered, there are business model elements associated with connected as well (making data more available is a capability).
The success stories that are floating around, will practically blow your mind.
For example, who should you trust more with your life — a human or a machine?
A human, right?
In the case of cardiac arrest, where every minute that goes by reduces the chances of survival by 10%
This is the true story behind Copenhagen’s virtual agent called Corti, who helps identify cardiac arrests with 95% accuracy. A human doctor, on the other hand, reaches a sub-par 73%
Now, anyone can be a doctor for real. Another example would be TytoCare – an app that empowers patients to do their own medical exams.
We’ve explored a few more of such case studies.
What’s more important than staying updated on popular case studies is working with business leaders to find a starting point. This helps you use strategic priorities as a guide. For example, a focus on growth would point to the programmable or empowered starting points.
And more importantly, stay real!
Chances are good that leaders in your organization believe they are already transforming. Many leaders (66%) desire to transform, but only 11% are actually delivering digital business transformation.
It is all too easy for a leader to say something like, “Change is easier for startups because they are smaller and not under the same regulations that we are.”
Instead of being vague about your vision, tell stories about organizations like Volkswagen, BBVA, the City of Copenhagen and DNV GL. These large organizations operate under tight regulations and yet have found a way to begin the transformation journey.
Digital business synergizes so many opportunities for new ways of doing business that it can be hard to know where to start. One of the best ways that CIOs can lead digital business transformation, right now, is to tell stories that help the organization imagine where to start.
This creates urgency for change and true transformation.
Want to learn more about how you can spike your organization’s profits with digital transformation?