why companies are adopting dx how much companies are spending ...

What’s Powering Digital Transformation? Digital Transformation or “DX.” CIO magazine says it’s “the acceleration of business activities, processes, competencies and models to fully leverage the changes and opportunities of digital technologies and their impact in a strategic and prioritized way.” But what’s driving this new era of transformation? Consider these surprising DX statistics:

WHY COMPANIES ARE ADOPTING DX

HOW MUCH COMPANIES ARE SPENDING ON DX

COMPANIES REPORT THESE TOP DX DRIVERS:1

DX SPENDING IS ON A RAPID RISE

55

53

%

$2.1 Trillion

%

EVOLVING CUSTOMER BEHAVIORS AND PREFERENCES

49

THE WORLDWIDE SPENDING ON DX TECHNOLOGIES BY 20194

GROWTH OPPORTUNITIES IN NEW MARKETS

42

%

%

INCREASED COMPETITIVE PRESSURE

18

NEW STANDARDS IN REGULATORY COMPLIANCE

41 37 37 32 30

%

IN 2016

BECAUSE THEY REALIZE THESE TOP DX BENEFITS:2

%

28

%

IN 2018

AMOUNT CIOS ARE SPENDING OF THEIR BUDGET IN SUPPORT OF DIGITALIZATION5

INCREASED MARKET SHARE

FASTEST DX GROWTH INDUSTRIES IN THE U.S.

6

% % %

POSITIVE IMPACT TO EMPLOYEE MORALE

RETAIL

INCREASED CUSTOMER ENGAGEMENT IN DIGITAL CHANNELS

%

GREATER VOLUME OF WEB AND MOBILE TRAFFIC

%

INCREASED CUSTOMER REVENUE

TELECOMMUNICATIONS

HEALTHCARE PROVIDERS

DIGITAL TRANSFORMATION SPENDING GROWTH IS OUTPACING IT SPENDING

2.5 to 1

7

TO REALIZE THESE BENEFITS, COMPANIES HAVE PRIORITIZED THESE TOP DX INITIATIVES:3

81

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BUT IT’S ONLY THE BEGINNING

%

MODERNIZING IT INFRASTRUCTURE

79

%

INNOVATION

ONLY 3 IN 20 COMPANIES HAVE A CLEAR DIGITAL STRATEGY.8

80

%

JUST 1 IN 20 COMPANIES FEEL THEY HAVE MASTERED DIGITAL TO A POINT OF DIFFERENTIATION9 ONLY

29

IMPROVING OPERATIONAL AGILITY

%

ARE COMPLETELY READY TO EXECUTE ON A DIGITAL STRATEGY10

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1, 2, 3 ALTIMETER, 2016 STATE OF DIGITAL TRANSFORMATION

4 IDC WORLDWIDE SEMIANNUAL DIGITAL TRANSFORMATION SPENDING GUIDE, JANUARY 2016 7 IDC FINANCIAL INSIGHTS, JUNE 2015

8 MIT SLOAN MANAGEMENT REVIEW

5 GARTNER 2017 CIO AGENDA SURVEY, OCTOBER 2016

6 IDC WORLDWIDE SEMIANNUAL DIGITAL TRANSFORMATION SPENDING GUIDE, JANUARY 2016

9, 10 FORRESTER, DIGITAL TRANSFORMATION IN THE AGE OF THE CUSTOMER, OCTOBER 2015