Digital Transformation (DX) is not necessarily about digital technology, but about the fact that technology, which is digital, allows people to solve their traditional problems. And they prefer this digital solution to the old solution.
The transformation stage means that digital usages inherently enable new types of innovation and creativity in a particular domain, rather than simply enhance and support traditional methods.
In a narrower sense, “digital transformation” may refer to the concept of “going paperless” or reaching a “digital business maturity” affecting both individual businesses and whole segments of society, such as government, mass communications, art, medicine, and science.
While the impact of this on businesses has been profound, many are struggling to realise the full potential of what digitisation and this is also clearly divided by Geography. According to the McKinsey Global Institute’s Industry Digitization Index, Europe is currently operating at 12% of its digital potential, while the USA is operating at 18%. Even within the leading economies of Europe there are also some significant differences as, according to the study, Germany operates at 10% of its digital potential, while the UK is almost on par with the US at 17%. This clearly demonstrates that, while business processes are undergoing great change making much progress in the adoption of digitisation, even advanced economies are struggling to exploit the full potential of digitisation.
One comment on “Digital Transformation: What you need to know”
TDAdmin
January 14, 2019 at 10:16 pmI like to transform my business, how do I proceed?