The rules that have governed how companies operate for the past 150 years are changing and no one is really certain of what comes next. Companies need to have leaders and organizations who are comfortable operating with uncertainty and can rapidly evolve to adapt to changing markets and directions. Snapshot Research provides innovative analysis capturing the current state of mind of digital professionals.
Each month we will conduct research into a different timely topic. A list of all previous research topics and their findings can be found here.
Digital Transformation Levels and Speed
This month, we ask about the progress of your Transformation and the speed of change in your industry.
Digital Transformation occurs in five key steps (awareness, direction, challenging, developing and competitive). In this analysis, we will learn about common progress of digital transformation. Additionally, in the Digital Economy, the speed of change has compressed industry "predictability" - the ability to foresee changes in the environment so as to better control the outcomes of your actions. Predicting outcomes is very difficult when the Speed of Change is very fast.
What is your Transformation progress and Industry speed of change? How does that compare with others?
Results: Digital Organizational Viability
Our last Snapshot Research focused on Digital Organizational Viability – How do you measure Organizational Success in the Digital Era? Measuring organization performance is fundamental to determining success and viability in one's industry or sector. Here is how you rated “traditional measures.” On a scale of 1 to 4, with 4 being the highest:
As you can see, “Customer Satisfaction” is the clear winner with “Contribution to Society” seen as not very important.
Traditional measures of success, based on cost accounting information, provide some support to organizations on their digital journey, but they do not map performance and improvements seen by the customer. In a successful digital organization, performance should be measured by the factors that contribute to improvements seen by the customer as well as by the results delivered to other stakeholders, such as the shareholders. Here is how you rated “non-traditional measures” on a scale of 1 to 4 with 4 being the highest:
For non-traditional measures, the results are flatter with no clear winner. Having a Clear Digital Vision is the most important, but the separation between each measure is rather small.