Progress and Frost & Sullivan Release Research on Digital Transformation
Progress announced the findings of a comprehensive survey on the State of Digital Transformation in the Latin America and Caribbean (CALA) region, conducted by Frost & Sullivan and commissioned by the company. The research presents a study on the main disruptive technologies and makes recommendations on how to choose the best strategy for digital transformation.
According to the report, digital transformation is no longer something "nice to have". It has become a critical element in the corporate world, which already touches most sectors and which is expected to transform the face of the global economy even further over the next decade. This trend has been further advanced by the rapid rise of Big Data analytics and cloud computing and the recent emergence of the Internet of Things (IoT).
In Latin America, for example, only 8% of companies say they have not migrated at least one application to the cloud, according to a 2015 survey of 507 executives conducted by Frost & Sullivan. At the same time, the advancement of Big Data analysis and the widespread exponential flow of data through business applications are producing volumes of data never before seen and processed. Frost & Sullivan estimates that 90% of the world's data has been generated in the last two years and the expectation is that in the future, 90% of the world's data will be created in the space of months or even days.
In its various manifestations, digital transformation is opening up new market opportunities – the impact of the Internet of Things (IoT) on the global economy alone is expected to exceed US$ 1 trillion in revenue and cost savings. At the same time, according to Frost & Sullivan, only 7% of Latin American companies are using IoT, while 44% say they are still "watching and learning".
"Today, the confluence of these new technologies has undeniably changed many businesses and markets. Their impact is most visible when we look at the reasons behind the success of today's disruptive companies that were born digital and whose businesses are based entirely on cloud technologies and applications The effects of this new digital reality have not spared any sector or company, including those traditional ones that are already being affected by digitalization and the new behavioral models of generation Y, born in the digital age. These new customers expect a new type of service and experience , in which fast, dynamic and personalized interactions with them is the rule, not the exception", said Matthew Gharegozlou, Vice President of Progress for Latin America and the Caribbean.
Recommendations for success in this area focused on both the company's internal and external environment – ranging from establishing a true transformational environment, investing and developing the right talent, to choosing the best partner with global and local expertise to jointly develop the the right digital transformation strategy and roadmap.
While digital transformation does not rely solely on technology, IT is still an important part of the strategy. Success in this area does not depend on focusing on providing solutions to specific problems, but on integrating the various aspects of digital technologies into a single coherent business transformation strategy.
For more information and to download the full Frost & Sullivan white paper in English, click here.
According to the report, digital transformation is no longer something "nice to have". It has become a critical element in the corporate world, which already touches most sectors and which is expected to transform the face of the global economy even further over the next decade. This trend has been further advanced by the rapid rise of Big Data analytics and cloud computing and the recent emergence of the Internet of Things (IoT).
In Latin America, for example, only 8% of companies say they have not migrated at least one application to the cloud, according to a 2015 survey of 507 executives conducted by Frost & Sullivan. At the same time, the advancement of Big Data analysis and the widespread exponential flow of data through business applications are producing volumes of data never before seen and processed. Frost & Sullivan estimates that 90% of the world's data has been generated in the last two years and the expectation is that in the future, 90% of the world's data will be created in the space of months or even days.
In its various manifestations, digital transformation is opening up new market opportunities – the impact of the Internet of Things (IoT) on the global economy alone is expected to exceed US$ 1 trillion in revenue and cost savings. At the same time, according to Frost & Sullivan, only 7% of Latin American companies are using IoT, while 44% say they are still "watching and learning".
"Today, the confluence of these new technologies has undeniably changed many businesses and markets. Their impact is most visible when we look at the reasons behind the success of today's disruptive companies that were born digital and whose businesses are based entirely on cloud technologies and applications The effects of this new digital reality have not spared any sector or company, including those traditional ones that are already being affected by digitalization and the new behavioral models of generation Y, born in the digital age. These new customers expect a new type of service and experience , in which fast, dynamic and personalized interactions with them is the rule, not the exception", said Matthew Gharegozlou, Vice President of Progress for Latin America and the Caribbean.
Recommendations for success in this area focused on both the company's internal and external environment – ranging from establishing a true transformational environment, investing and developing the right talent, to choosing the best partner with global and local expertise to jointly develop the the right digital transformation strategy and roadmap.
While digital transformation does not rely solely on technology, IT is still an important part of the strategy. Success in this area does not depend on focusing on providing solutions to specific problems, but on integrating the various aspects of digital technologies into a single coherent business transformation strategy.
For more information and to download the full Frost & Sullivan white paper in English, click here.
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