A Study of the Impact of Digital Transformation on Business Growth: CMO Speak
Digital transformation is a growing area of interest among businesses, and it is definitely changing the way organizations interact with their customers. Digital transformation is forcing them to adopt new business models and adapt to the changing market reality, which puts the customer at the forefront. In order to collect and analyze data, drive intelligent processes and better decision making, and, above all, center on the customer experience, digital transformation requires leveraging AI, automation technologies, Big Data, and other digital technologies.
Digital transformation varies for every organization. A digital transformation strategy attempts to create the capacity for an organization to fully utilize the potential and opportunities of new technologies and their influence in the future sooner, better, and in a more creative manner. The digital transformation journey requires a tiered approach with a definite plan and involves a range of stakeholders. In reality, digital transformation is a continuous process.
Digital transformation or ‘the speed of technology change’ is a relatively new field but it is advancing at a rapid pace. There is still a lot of unchartered waters out there and while it offers a lot of potentials, it also comes with its share of threats to an organization. We had a number of discussions with Chief Marketing Officers and other high-ranking executives from across the world to better comprehend these worries and this digest brings to you their thoughts, insights, and observations.