Most digital transformations fail. Various studies from academics, consultants, and analysts indicate that the rate of digital transformations failing to meet their original objectives ranges from 70% to 95%, with an average at 87.5%. Yet, digital transformation has been at the top of corporate agendas for at least a decade and shows no sign of slowing down. On the contrary, many commentators have highlighted the accelerating impact of the Covid-19 period on digital transformation.
3 Stages of a Successful Digital Transformation
You have to walk before you can run.
September 20, 2022
Summary.
The most under-appreciated reason that digital transformations fail is by going too big, too fast. There’s a learning curve to digital transformation, and most companies need to walk before they can run. The key is to start with modernization efforts that don’t transform the business—much less create a new one—but which create the capacity to succeed in more ambitious efforts later on.