Last week, we discussed the rapidly approaching digital economy and outlined the nine new agenda items for CEOs. We also drilled down into the 3 CEO agenda items related to new customer requirements. In this blog, we’ll explore the three new capabilities needed to compete in the digital economy, the new critical infrastructure, and new ecosystems.
The digital economy has been eagerly anticipated for years, but felt to be in the distant future. As we look towards 2020, we can see the digital economy appear on the horizon. By 2023, products and services from digitally transformed enterprises will account for more than half of the global GDP, according to IDC’s research, signalling digital supremacy.
With the onset of digital supremacy just 3 years away, CEOs will quickly find themselves running a new type of organization. And with that new organization comes a new agenda.
Artificial intelligence (AI) is poised to transform the way that marketing professionals work, and how organizations target, engage and connect with customers and prospects. Just like how marketing automation created new tasks and job functions, AI will revolutionize the way marketing is performed – and dictate a new set of job needs and skills.
Being in the middle of a digital transformation can be a time of excitement, confidence and risk-taking. Businesses are evolving, employee career paths are expanding and the way we market to our customers is changing. Even buyers’ journeys are taking a turn down a path that may not have existed several years ago.
This post originally appeared on IDC’s UK Blog, and concentrates on European data. To see the original post, click here.
“Digitally determined” organizations no longer ask if something is possible. They assume it is. Corporate leaders identify what they wish to achieve. Those goals are broken into use cases. The organization then works backward to determine what technologies are needed. IT suppliers need to be on board with these use cases. Many suppliers say they put customers first and that they work backward from business goals to create their products.
IT has always had to support audits and certifications and navigate through what seems like constantly changing requirements. Compliance was visible to the board and IT had to answer to the board. That visibility, though, was rarely outside the building – and historically more top of mind for the CFO, the audit committee, internal audit and the CIO.
In the United States today, women account for 47% of the overall workforce, yet only 25% of IT workers are female according to the Bureau of Labor Statistics (BLS). The tech industry’s efforts to raise the inclusivity of women as employees have been sporadic and inconsistent over the last 50 years, though the issue has certainly gained more notoriety in recent years. Yet despite employers’ efforts to introduce numerous programs to help educate, hire and retain women in technology, women remain significantly underrepresented at all levels.
For CIOs, metrics are a key means of measuring the performance and effectiveness of their IT organizations in support of organizational improvement. During the recent IDC web conference ” New Metrics & KPIs for the Digitally Transformed IT Organization,” my colleague Bill Keyworth and I shared the results from our latest IDC MeasureScape survey and discussed new metrics and KPI’s for digitally transforming IT organizations working on infrastructure modernization and cloud adoption.
Customer Experience (CX) will have a greater influence over future purchase decisions, say 93% of tech buyers. CX improvement must become a top initiative for CMOs or marketing will be the proverbial canary in the coal mine – the first to be blamed if the pipeline erodes due to customers’ poor experience. The CMO’s conundrum? Marketing can’t do this alone. To succeed, companies must integrate into an adaptable, team-based, organization focused on customer success.
