Unlock Business Opportunities: Become a Data-Driven Digital Enterprise
Leading organizations have embraced the opportunity to accelerate digital transformation to advance beyond their competitors over the past two years. Looking at the enterprise strategy through the lens of data and digital enablement to align with the way in which customers interact and employees’ live (lifestyle) has created tangible results.
Key Trends in Leading Enterprises
Shift the vision and accountability for digital transformation to the CEO and align with cross-departmental enterprise business goals/KPIs (IT, marketing, sales, product, data, finance, operations, engineering, etc.).
Address employee and customer experience to deliver human experience (EX+CX=HX) for the remote work and business economy. This means holding the same standard for all audiences served by the enterprise, including third-party ecosystem partners.
Continue the right investments in IT and application modernization.
Prepare data through data management and governance to ensure readiness for analytics (diagnostic, predictive, and prescriptive), be it basic data analytics (to answer the questions of what happened/why did it happen?), or predictive analytics (to answer the questions of what can happen next/what is the best that could happen?).
Who owns digital transformation in leading enterprises?
The CEO has become accountable for the vision, cross-enterprise strategy, and alignment of direction with measurable business goals.
CIOs and CTOs maintain a critical role in modernizing IT and improving operational agility, upgrading technology, and delivering reliable, modular, cloud-enabled solutions that promote business flexibility.
Chief Data Officers (CDOs) and Chief Data and Analytics Officers (CDAOs) come of age. The organization’s data leader assumes a role in the C-suite, typically originating from demonstrating measurable results in marketing/sales, finance or operations.
CMOs are waning as the digital transformation lead, but retain ample and expanded responsibilities to meet its marketing client’s - the enterprise customer’s - needs, through personalization, unified messaging across channels (and new channels), in-product experiences, and automation in partnership with sales, customer success, and product teams.
How to Deliver Business Transformation Results
Mature data practices at scale to set the foundation for enterprise decision-making.
Unify Agile process across a collaborative enterprise. Democratize standard method of delivery to accelerate iterative value.
Ensure marketing, sales, and product share the same metrics, including revenue, customer satisfaction, cross/upsell opportunities, etc.
Consider human experience as a foundational tenet of digital transformation.
Insights | Take Aways
Leading enterprises have already changed in meaningful ways. To compete, organizations will need to:
Assess and transform their cultures from ones of fear related to change, interruption, and disruption (from technology and data/analytics/AI), to a posture of candor, interoperability, and learning/re-skilling across the organization.
Radically shift to break down silos, honestly assess skill sets, and plan for change ahead as a renewed, cohesively led organization, and one that may have to partner externally with ecosystem capabilities.
Embrace their data moment: the moment they realize data is mainstream, the corporate lifeblood, and the forward direction to ensure the long-term viability, and value proposition, of the evolving organization.
All organizations will follow course to meet the forces of change and disruption, or be interrupted by those that do.