Business strategy is digital, and digital is business strategy
Forrester Vice President and Principal Analyst Brian Hopkins discusses the relationship between successful digital transformation and business strategy — and how technology is accelerating the pace of change.
93% of firms are taking on digital transformation. Think about that — 93% of firms are in motion, seeking to act like, operate like, and deliver customer value like a digital entity. The catalysts of this are well known: to meet customer demand; to thwart or co-opt disruption; to achieve the next round of operational efficiencies; and to use digital to drive growth and gain share.
But this is not a linear strategy. Instead, it is — as the title suggests — transformation. Companies, their leadership teams, operations, and norms will come out the other side different than they began.
These firms are signing up to corral and exploit technology that is changing at a faster and faster clip. Digital is increasingly following Moore’s law, which rules that the pace of change quickens at an exponential pace. That means that digital transformation is not a single transformation; it’s not simply a high-five and then we rest. Transformation creates the underlying capabilities to change constantly: developing new experiences, retiring products, entering new markets, and continuously advancing products and the business technology that delivers customer experiences.
Business strategy is digital, and digital is business strategy.
In this episode, Brian Hopkins discusses the implications of the technology revolution for companies that see digital leverage as inseparable from company success. And in the spirit of the holidays, Brian lays out the gift of quantum computing. Cheers!
VP, Principal Analyst