You have a vision for digital transformation. Real digital transformation. You’re taking your cue from companies that are leading the charge. Among them: Capital One shaping the future of banking; McDonald’s changing the face of the fast-food experience; Ford anticipating vehicle maintenance needs.
You know that successfully changing how your business operates in order to optimize the customer experience is not just about automating a couple of processes or replacing some legacy systems. There’s no magic pill that will make digital transformation happen for a company. Businesses that have seen success to
date have been working years on their efforts, and neither they nor you nor any other company on the planet will ever finish the job.
Digital transformation, you see, is an ongoing process. It means that a company must continually evolve the way it responds to – indeed, predicts – what their customers want.
But how to kick-start things? Technology – realtime analytics and reporting, artificial intelligence, IoT devices – must be holistically integrated across the business. And good data and coherence practices for governing it are key to gaining insight that will enable businesses to act on opportunities to improve clients’ and buyers’ experience.
The question is: Are you sure that you can trust your data and the processes surrounding it? If not, your company must determine how it can restore confidence in data and the policies that guide its use.
That doesn’t mean to put a halt to every action related to digital transformation. An important task to undertake is to invest time and money into changing employees’ mindset about how they work, moving outside of their departmental cocoons to become part of cooperative enterprise teams. McKinsey & Company has noted that 70% of complex digital transformation programs don’t reach their stated goals, pointing out that a major change in thinking and behaviors is required for that to happen.
At the same time, you can get moving on building a solid data foundation to underpin digital transformation.
Your vision of your company’s digital future can – and will – be realized when you know you can count on your data.
Get ready to join the ranks of the digital transformation leaders!
of executives say that having a strong master data management program is important to ensuring their future success.
of executives believe their organizations are underinvesting in their enterprise-wide data strategy.
of executives say their organizations rely on more than 6 data types that are essential to business operations.
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