2019 Digital Business Research
The second annual IDG Digital Business study was conducted to gain a better understanding of where organizations are in their digital-first approach. The findings show that establishing a digital business is top of mind, as 91% of organizations have adopted, or have plans to adopt, a “digital-first” business strategy – which is up slightly from 2018. The study also looks at the strategies and technologies businesses are adopting to ensure digital success, and the important role that customer experience improvement play in digital business objectives. New to this year’s study we also examined workforce transformation.
Key findings include:
- The top objectives for a digital business strategy include creating better customer experiences (67%), improve process efficiency through automation (53%), and driving new revenue (48%).
- On average, organizations plan to spend $15.3 million on digital initiatives over the next 12 months. Of this, 59% will be allocated to technology, and 41% will be dedicated to people and skills.
- Emerging technologies and solutions such as 5G, Artificial Intelligence and Machine Learning are the top technologies being researched by organizations to become a digital business.
- There are various factors that inhibit digital business success including too many competing priorities, lack of sufficient budget, and lack of staff and/or correct skill sets.
- Workforce transformation – a strategy to change internal processes, departmental structures, incentives, skills, culture and/or behaviors – is implemented by 37% of organizations.
To request an in-depth research briefing on the full study, please fill out the form to the right.