Most of us are aware that we are in the midst of the fourth industrial revolution. Digital Transformation is impacting every company, every industry, and almost every aspect of our daily lives. Many products or services we have taken for granted are being disrupted or superseded by innovative start-ups.
How are businesses reacting to this revolution and the great opportunity – and possibly threat – it represents? After surveying 4,000 business leaders across 16 countries and 12 industries, we have collected what they told us in the Digital Transformation Index.
The Digital Transformation Index
First, the revolution is already here, and the pressure is on established companies to act. About half (52%) of respondents have not only experienced significant disruption to their industry as a result of digital technologies, but also say they don’t know what their industry will look like in 3 years’ time. In addition, 78% of businesses believe digital start-ups will pose a threat to their organization.
So how are businesses reacting? Researchers plotted the progress of all 4,000 respondents along a digital business benchmark that shows that there are five types of businesses traveling the path towards their digital future. The five types:
- Leaders – represent just 5% where digital transformation is engrained in the DNA of the business.
- Adopters – represent 14% and have a mature plan with a number of programs driving their digital futures.
- Evaluators – represent 34% and are gradually embracing innovation.
- Followers – represent 32% and are still at the very early stages of their journey.
- Laggards – represent 15% and resist change.
Looking at the results, you can clearly see that despite knowing that their industries are changing, the vast majority are just commencing their digital journeys.
To advance their digital business transformation, 73% of companies agree that a centralized technology strategy needs to be a priority and 66% are planning to invest in IT infrastructure and digital skills leadership. 72% percent are expanding the size of their software development capabilities and plan to invest in Converged Infrastructure, Flash, Data Lakes and IOT technologies over the next few years.
With change comes opportunity
So, what should you do? Whether you are a leader or a laggard: take advantage of the opportunity during these challenging times. Read the results – we have set up a great web experience – and adjust your portfolio and your strategy accordingly. DellEMC delivers technology that enables you to realize your digital future.