What is digital and why is it now so important? How are CEOs thinking about business, IT and digital? What is Digital Business Strategy (aka – what should CxOs be doing to ensure their organisation can benefit from the challenges and opportunities presented by Digital)? Ps. how much of this is hype versus actual reality?
These are the sort of questions regularly asked of top research analysts, and a couple of weeks ago we heard some answers, and more, at a recent BCS London event featuring two leading analysts from Gartner. Mark Raskino, (VP and Gartner Fellow), focused on the outcomes and insights from the Gartner’s CEO Concerns 2013 survey, and Dave Aron, (VP and Gartner/BCS Fellow) discussed the urgent need for digital business strategies. Below are some highlights from their presentations:
- Multiple uncertainties of the last 12-18 months are starting to lift, and CEOs feel better able to plan and invest – there is renewed focus on profitability, plus there is money available to invest
- After a decade of IT service performance and tight cost control, good digital strategy is emerging as a key enabler for forward looking organisations. “There has to be more to the future of IT than endlessly babysitting ERP” – Dale Kutnick, Gartner EVP
- Digital is a mixture of various themes, which include: mature forces (i.e. e-commerce, e-service, online), contemporary forces (i.e. social, mobile, cloud, information), and emerging forces (e.g. Internet of Things, 3D printing, robotics, data science), all with a common “revenue winning” focus.
- CIOs beware – new C-level information and technology roles (e.g. CDO/CIO or Chief Digital/Data/Innovation Officers) are emerging to fill the void left by traditional roles in the age of Digital
- ‘Digital’ is a much misused (and often restrictive) term which actually encompasses “…all electronic forms and uses of information and technology” – Dave Aron, Gartner.
- Digital business strategy answers the question: how will your business survive and thrive in a time of digital disruption? It is and integral part of business strategy.
- Business processes are a terrible way to innovate in a time of disruptive digital innovation. “Business models are a more natural way to think of digital strategy”
- Gartner’s Annual CIO survey 2013 indicates that, over the next decade or so, smaller ‘long tail’ firms will be most influential partners on the journey to digital!
The above are just a small sample of the thought provoking content covered during this most excellent, value for money event. As usual, I just had to ask the question of how Intellectual Property (IP) will likely influence and / or be influenced by the rise of digital, and the answers (which are recorded in a post event video interview) could become the topic of a future blog post. Watch this space.