Digital Transformation opportunities and themes from the DTI (2019/03) - Maximizing return on Digital
Feb 2022 - this post is permanently moved to https://architectfwd.com, my new site, and can be found here - https://architectfwd.com/architecture/enterprise-architecture/digital-transformation/dti2019review/2022/02/01/digital-transformation-opportunities-and-themes-maximizing-return-on-digital/ please go and bookmark that site for all of my future content.
Themes
The DTI notes that the following are key themes that have emerged from the analysis of digital transformation across 13 industries (health, retail, professional services amongst others):
- Maximizing return on digital - the topic of this post.
- Digital Consumption
- Digital Enterprise
- Platform Economy
- Societal Implications
- Unlocking Digital Value to Society
I will post on each of these themes aspects I find particularly insightful over a number of posts.
Maximizing return on digital
Investing in new technologies..
DTI notes that Compound Annual Growth Rate for business spend on new technologies could rise 13% to $2.4 trillion through to 2020! Growth areas include 3D printing, robotics and IoT, and decreases likely in the mobile / social space.
- ..creates new efficiencies, through modernising, improving or streamlining business processes and optimizing use and cost of assets and resources.
Here I see value as follows. Technology such as cloud and AI can be used to improve value stream stages, and other efficiencies in business process redesign to make optimal use of technology in streamlined operations and reduction of costs. - ..enhances customer experiences,
Here I see the value delivered through omnichannel, new channels, enhanced process, product and solution value propositions which focus on delighting the customer and meeting high expectations of tailored service offerings. Think of cloud and how netflix delivers TV and film to any device, form factor and with video quality and an experience to suit the form factor. - ..builds new business models.
Investing in new business models is difficult and where faster moving startups excel, but finding new technologies to improve the channel, value proposition or delivery through technology providing, for example a platform as a key asset helps to drive revenue and open or expand customer segments. I plan on writing something up regarding the Business Model Canvas as another blog entry. The book "Business Model Generation" was so useful to me in understanding this area, and I hope to continue learning more.
DTI notes that Compound Annual Growth Rate for business spend on new technologies could rise 13% to $2.4 trillion through to 2020! Growth areas include 3D printing, robotics and IoT, and decreases likely in the mobile / social space.
DTI notes that some key enablers are required, such as building ecosystems of partners and suppliers, technology infrastructure build-out, agile and digital leadership, strong data access and management and forward thinking.
It is incredible to think how Digital Transformation can benefit customers and business, and how technology can assist in realizing these outcomes! In my next post I'll discuss one the other themes listed in the Digital Transformation Initiation report - Digital Consumption.
Cheers
QuintesQuintes van Aswegen Togaf 9 Certified Architect, Professional Scrum Master I (PSM I) Certified
