Why most companies suck at digital transformation [Video]

Digital transformation (DX) is one of those buzzwords we don’t understand. It’s also being applied to most IT transformation projects. So, let’s look at the best definition of DX—mine.

Digital transformation means making computer-based systems systemic to an organization’s products, processes, and strategies. The core idea is to bring value back to the business through better engagement with the workforce, the customers, and the customer’s customers. The desired outcome is more operational efficiency and cost optimization and to drive net innovations to define the future of the business.

DX is essential stuff. It’s crucial. We’re going to see prominent companies go belly up due to their inability to get their DX strategies working while their competitors figure it out. The ability to do digital right ends up being everything.

Companies spent $1.6 trillion in 2022 on digital transformation (by whatever definition, I guess), which is expected to reach $3.4 trillion by 2026, according to Statista research. However, the research shows …