When building and expanding a digital business, CIOs will benefit from being more specific about the ambition of the digital business strategy. Is the goal to transform the business model or to optimize the existing one? Digital transformation and digital business optimization what do these terms mean to your enterprise? Many CIOs and digital business leaders are at a stage where they need to get more specific about how far their enterprise will pursue digital business. Said another way, what is the digital ambition of the enterprise?
Too many businesses believe that their digital business strategy is actually a roadmap, or a series of IT projects. Being digital is a capability – in your business it impacts the culture, metrics, organization, skills, and finally – the technology. As a CIO, one of the most important roles you'll play is helping to make the business FAST – removing friction points from processes and enabling new capabilities to be developed as required by the customer, partners, and business stakeholders. Too often technology is one of the (many!) bottlenecks in our ability to quickly meet customer needs or respond to changing or new competitive threats. I recently had the chance to spend some time with some senior technology leaders in Sydney discussing the need for quality when delivering digital business outcomes.
Every year I talk to hundreds of Splunk customers -- it's my favorite part of the job. I want to understand what drives them, what their challenges are, how they're solving them, and how we can make their lives easier. Throughout the course of my 30-year career, these answers have changed based on the technological and business imperatives at the time. I remember when companies were scrambling to upgrade their hardware and software systems in preparation for Y2K; the emergence of online business triggering companies to make investments in front and back-end user experience; the industry moving to virtualization; and the spread of mobile technology expanding accessibility,changing how enterprises do business. Now, it's a given that our customers are conducting business online, dealing with a range of models -- on-premises, cloud and hybrid.
In the age of the customer, the next generation customer experience will be powered by artificial intelligence. When everyone and everything is connected to the Internet, companies must leverage information and digital technologies including cloud computing, mobile, social, Internet of Things (IoT) and AI to transform how they connect with customers in a whole new way. Per Gartner, 89% of marketers expect to compete primarily on the basis of customer experience. Customer experience is a top priority and managed as a team sport. Digital business transformation will require an experimental and technology-led mindset that must be inclusive of the entire business - marketing, sales, services, IT, R&D and customer and partner communities.
Looking for a cool space to examine and discuss the work in the future? We know just the place. At the Cognizant Center for the Future of Work, experts discuss the future of everything--from business strategies, markets, competition, enabling technologies, work practices and individual points of view.