The Essential Components of Digital Transformation

The digital revolution forced every organization to reinvent itself, or at least rethink how it goes about doing business. Most large companies have invested substantial cash in what is generally labelled "digital transformation." While those investments are projected to top $6.8 trillion by 2023, they're often made without seeing clear benefits or ROI. Although these failures have multiple causes, they are generally the result of underestimating the various steps or stages required to successfully execute a transformation agenda. For example, common errors include the naïve assumption that by simply buying technology -- or investing in any of the fancy tools or shiny new objects of the booming tech market -- organizations will somehow transform.