COVID-19 accelerated companies’ digital communications strategy by a global average of 6 years, with 5.3 years the UK average. If you continue to use this site we will assume that you are happy with it. Digital transformation vs. digital shift – is there a difference between the two terms? Ten years ago, telling people you could reduce their pain with a … Below, we’ll explore 20 of the most important statistics related to digital transformation and digital skills. In some circles, "digital transformation" as a term was starting to wear out its welcome in 2019. (Gartner), 16. Digital transformation is seen as a business driver for recovery by 4 out of 5 companies. (Forrester), 7. Data silos are hindering digital transformation. Faster Connectivity. Analytics are the Competitive Advantage: Companies that still aren’t investing heavily in analytics by … Seventy-six percent of executives agree that organizations need to dramatically reengineer the experiences that bring technology and people together in a more human-centric manner. For this report, Flexera has synthesized data from its industry-leading 2019 State of the Cloud, 2020 … Insights and tools for digital transformation. 5. There’s a lot of technologies today that cannot be realized to their fullest due to … Just 16 percent of executives say their company’s digital transformation efforts are succeeding. 27% of companies say digital transformation is a matter of survival. What’s more, the world’s internet users will spend a cumulative 1.25 billion years online in 2020… But after stay-at-home restrictions and social distancing suddenly forced more collaboration and commerce online, over 80% of companies now indicate that accelerating their digital transformation is a strategic necessity. If … … There’s a lot of technologies today that cannot be realized to their fullest due to … 1 Notes: 1 Our Digital Strategy Roadmap 2020 … The top digital transformation trends in 2020: * AI * DAP * Data * 5G * Xaas AI AI technology has advanced and it's accomplishing more than anticipated – from infant products to every aspect of … Treating patients with virtual reality. For some businesses, on-premises infrastructure upgrades simplify management, accommodate growth and improve the end … Improving customer experience and engagement is the top goal fueling digital transformation … Better understand the digital landscape – especially in a post-COVID-19 world with additional emphasis on remote work and. Although 87 percent of senior business leaders say digitalization is a company priority, only 40 percent of organizations have brought digital initiatives to scale. Meanwhile, consumers expect consistent journeys across multiple channel… We use cookies on this website to ensure you get the best experience. This research can help your company to: So, to help you form your own digital strategy – without having to scour through reams of percentages and graphs yourself – we compiled 26 of the most recent facts and statistics on digital transformation, both universal and industry-specific. (Accenture), 23. In 2019, digital transformation is no longer a future state, or something to reconsider for the next fiscal year, it’s an initiative that needs to be woven into the very fabric of an organization. AI and Machine Learning Powering #2. 1. Before the epidemic smashed into the world economy, there were rosy forecasts about the coming digital transformation. In 37 percent of companies, CIOs lead transformation, while in 12 percent of companies, CMOs do. Eighty-nine percent of CIOs say they’re more involved in leading digital transformation initiatives compared to their business counterparts (and 56 percent of counterparts agree). Survey on the State of Digital Transformation, … New innovations and disruptions have driven digital transformation across the entire global economy, driving digitization, digital transformation, and digital adoption trends. Digital Transformation Starts in the Data Center The cloud isn’t for everyone. Here are the top key takeaways from the 2020 connectivity benchmark report: 1. On average, higher-maturity organizations’ digital transformation efforts are twice as broad as those at lower-maturity organizations (maturity is defined as the level of benefit derived from digital transformation efforts). Digital transformation is the integration and adoption of digital solutions and technologies throughout an organization, transforming both internal operational efficiencies as well as how value is delivered to customers. 65% of businesses currently have initiatives to encourage collaboration between data science teams, analytics teams, and the business (, 62% of companies are working to embed analytic processes into their businesses in order to better automate business processes (, 91% of businesses are engaged in some form of digital initiative (, 87% of senior business leaders say digitalization is a priority (, 40% of organizations have brought digital initiatives to scale (, 51% of digital transformation efforts are fueled by market pressure and growth opportunities (, 70% of businesses chose to increase or maintain digital transformation spend during the pandemic (, 58% of businesses that had not yet begun a digital transformation program said that COVID-19 has accelerated their digital plans (, 76% of businesses plan on long-term IT changes as a result of COVID-19 (, More than a third of 2021 tech budget increases will be influenced by COVID-19 (, 97% of IT decision-makers are involved in digital transformation initiatives (, By 2024, 25% of CIOs at large enterprises will become accountable for digital business operational results, or “COO by proxy” (, Top strategic tech trends that will drive disruption and growth include hyperautomation, multiexperience, democratization, and human augmentation, among other things (, 69% of employers say they prefer employees with data science skills than those without (, 55% of employers most worried about digital skills say innovation is hampered by a lack of key skills (, Over the next five years, the global workforce can absorb around 149 million technology-oriented jobs (, 85% of Americans believe that digital skills will be important to success in today’s workplace (, 54% of all employees will need significant reskilling by 2022 (, By 2022, everyone will need an extra 101 days of learning (, 44% of Europeans between 16 and 74 do not have basic digital skills (. The MarketWatch News Department was not involved in the creation of this content. Our Shopify integration is available now! Because of the COVID-19 pandemic, companies are moving previously on-premise tech to the cloud, and the migrated systems could remain there permanently. That business need begins and ends with the customer. (McKinsey), 14. Insights and tools for digital transformation. 1. At an MIT Sloan CIO Symposium panel earlier this year, Rodney Zemmel, global leader, McKinsey Digital of McKinsey & Company, identified December, 2019 as a time of “peak cynicism about digitization.” But then he went on to say, in 2020, “COVID accelerated the migration to digital.” During the 2020 pandemic, there was a 15 percentage point increase in use of digital tools for health support by consumers. Across multiple channel… faster connectivity important task given to them by their.. 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