Digital is immediate
Organisations can shift their operational models by leveraging digital resources, but they need to respond quickly to change and keep engagements fresh.
Digital is customer-centric
The central tenet of digital transformation is great customer experience. The level of customer experience your organisation needs to achieve is benchmarked to the best experience the customer has had anywhere - not just your direct competitor.
An interesting side-effect of digital transformation is that “the customer” has become more nuanced and more difficult to know. People’s personas vary depending on context. We are all customers but behave differently online, in game, in person. Identities can be hidden behind a device. Businesses need to recognise and respond to that.
The value of data in digital transformation
Data is key for digital. If you become more data centric you are better able to make fast, agile, quality decisions. And if you understand the value of your information then you understand how much to invest in using it, protecting it, and doing more with it.
Digital technologies in the NZ context
There are enabling technologies here now - cloud, mobile, social, analytics - and new ones coming that provide more opportunities, including cognitive and machine learning, augmented reality and internet of things (IoT). Worldwide, digital technologies drive 30% of all ICT spending.
NZ companies are doing relatively well in cloud (ahead of others), mobile and analytics, but are lagging in adoption of social – we haven’t really understood it well here.
Digital transformation and the C-suite
Reporting lines can affect an organisation’s readiness for digital transformation. In New Zealand, 30% of CIOs report not to the CEO but to other areas – marketing, operations, finance. But different members of the executive have different drivers when it comes to digital. Line of business owners and CMOs are looking to digital for benefits and innovation. While this is also important for CIOs, they must weigh this against concerns like security and compliance, which may not be valued highly or understood by other areas.
Adam Dodds wrapped up his presentation with six key considerations for digital transformation:
- Digital experience
- Data and information
- Rapid delivery
Contact Theta’s digital experts today to discuss how your organisation can make the most of the digital transformation opportunity.