What is digital transformation?
Digital transformation involves using digital technologies to remake a process to become more efficient or effective. The idea is to use technology not just to replicate an existing service in a digital form, but to use technology to transform that service into something significantly better.
Digital transformation can involve many different technologies but the hottest topics right now are cloud computing, the Internet of Things, big data, and artificial intelligence.
How important is digital transformation?
Worldwide spending on digital transformation technologies -- hardware, software, and services -- hit $1.3 trillion in 2017, according to IDC. The tech research company expects spending to almost double between now and 2021, when the total amount spent on digitalisation globally will surpass $2.1 trillion.
In a survey of 460 execs by IT analyst Gartner, 62 percent said they had a management initiative or transformation program to make their business more digital. Just over half (54 percent) said that their digital business objective is transformational, while 46 percent said the objective of the initiative is optimization.
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