IDC released the IDC FutureScape: Worldwide Digital TRansformation 2019 Predictions, a study that identified two digital transformation clusters based on specific trends and attributes. Transformational leaders are those organizations that have aligned the necessary elements of people, process and technology for success. By contrast, laggards have not developed the business strategy needed to align the organization for transformation.
Company analysts Bob Parker and Shawn Fitzgerald discussed ten industry predictions that will impact the digital transformation efforts of CIOs and IT professionals over the next five years and offered guidance for managing the implications and priorities of IT investment:
Forecast 1: By 2020, at least 55% of organizations will be digitally determined, transforming markets and reinventing the future through new business models and digitally enabled products and services.
Forecast 2: By 2022, the CDO title will be on the wane as digital will have become fully integrated, but more than 60% of CEOs will have spent part of their careers leading digital initiatives.
Forecast 3: the paramount importance of customer advocacy will result in 60% of B2C brands adopting net promoter score as their key success metric by the end of 2020.
Forecast 4: By 2020, 80% of companies will create data management and monetization capabilities, enhancing company functions, strengthening competitiveness and creating new revenue streams.
Forecast 5: By 2020, 30% of the G2000 companies will have implemented advanced digital twins of their operational processes, which will allow for smoother organizations and one-third fewer knowledge workers.
Forecast 6: By 2023, 35% of workers will begin working with bots or other forms of artificial intelligence, requiring company leaders to overhaul operational processes, performance metrics and recruiting strategies.
Forecast 7: By 2020, 30% of G2000 companies will have a capital budget equivalent to at least 10% of revenue to fuel their digital strategies.
Forecast 8: By 2021, prominent industry value chains enabled by blockchains will have extended their digital platforms to all of their omnidirectional experience ecosystems, reducing transaction costs by 35%.
Forecast 9: By 2021, around 30% of manufacturers and retailers worldwide will have built digital trust through blockchain services that enable collaborative supply chains and consumers to access product histories.
Forecast 10: By 2023, 95% of entities will have incorporated new digital KPI sets – focusing on product/service innovation rates, data capitalization and employee experience – to navigate the digital economy.
“With digital transformation investment spending of US$ 5.5 trillion in the years 2018 to 2021, this topic remains a core area of business leadership thinking; The 2019 forecasts represent our perspective on key transformation trends for the next five years. With nearly 800 business use cases spanning 16 industries and eight functional areas, our spending guides illustrate where the industry is prioritizing digital investments and where we expect to see the most growth in Platform 3 and innovation-accelerating technologies,” said Shawn Fitzgerald. , director of research at Worldwide Digital Transformation Strategies.
Company analysts Bob Parker and Shawn Fitzgerald discussed ten industry predictions that will impact the digital transformation efforts of CIOs and IT professionals over the next five years and offered guidance for managing the implications and priorities of IT investment:
Forecast 1: By 2020, at least 55% of organizations will be digitally determined, transforming markets and reinventing the future through new business models and digitally enabled products and services.
Forecast 2: By 2022, the CDO title will be on the wane as digital will have become fully integrated, but more than 60% of CEOs will have spent part of their careers leading digital initiatives.
Forecast 3: the paramount importance of customer advocacy will result in 60% of B2C brands adopting net promoter score as their key success metric by the end of 2020.
Forecast 4: By 2020, 80% of companies will create data management and monetization capabilities, enhancing company functions, strengthening competitiveness and creating new revenue streams.
Forecast 5: By 2020, 30% of the G2000 companies will have implemented advanced digital twins of their operational processes, which will allow for smoother organizations and one-third fewer knowledge workers.
Forecast 6: By 2023, 35% of workers will begin working with bots or other forms of artificial intelligence, requiring company leaders to overhaul operational processes, performance metrics and recruiting strategies.
Forecast 7: By 2020, 30% of G2000 companies will have a capital budget equivalent to at least 10% of revenue to fuel their digital strategies.
Forecast 8: By 2021, prominent industry value chains enabled by blockchains will have extended their digital platforms to all of their omnidirectional experience ecosystems, reducing transaction costs by 35%.
Forecast 9: By 2021, around 30% of manufacturers and retailers worldwide will have built digital trust through blockchain services that enable collaborative supply chains and consumers to access product histories.
Forecast 10: By 2023, 95% of entities will have incorporated new digital KPI sets – focusing on product/service innovation rates, data capitalization and employee experience – to navigate the digital economy.
“With digital transformation investment spending of US$ 5.5 trillion in the years 2018 to 2021, this topic remains a core area of business leadership thinking; The 2019 forecasts represent our perspective on key transformation trends for the next five years. With nearly 800 business use cases spanning 16 industries and eight functional areas, our spending guides illustrate where the industry is prioritizing digital investments and where we expect to see the most growth in Platform 3 and innovation-accelerating technologies,” said Shawn Fitzgerald. , director of research at Worldwide Digital Transformation Strategies.
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