Chapter 1. How a Multi-Cloud Strategy Enables Digital Transformation
When news broke that Amazon was acquiring Whole Foods, brick and mortar retailers panicked. Many industries are feeling pressure to undergo digital transformation for fear of being “Amazoned” (acquired by an online competitor). The International Data Corporation (IDC) forecasts worldwide spending on digital transformation technologies will grow to more than $1.2 trillion in 2017 (an increase of 17.8% over 2016). IDC’s Worldwide Semiannual Digital Transformation Spending Guide reports that many industries have been affected by the frenzy, too, with manufacturing leading the pack, followed by retail, health care, insurance, and banking. No one wants to be “disrupted.”
Defining Digital Transformation
Surprisingly, despite the anxiety around digital transformation and the money being invested, the term is not well defined. George Westerman, principal research scientist with the MIT Sloan Initiative on the Digital Economy, defines digital transformation as “using technology to radically improve the performance and reach of an organization.” Technology, however, is accelerating at such a fast pace that it makes it difficult for businesses to keep up and stay ahead of the curve.
Digital Transformation in Practice
How do businesses unlock the power of rapidly evolving technology to maximize their investment? One answer, according to the 2017 Digital IQ survey, which looked at top performing IT and business leaders ...
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