Thousands of organizations all over the world underwent digital transformations during pandemic-related shutdowns as a means of survival. Now, as they emerge from lockdowns, many are beginning to use digital transformation as a tool for growth. Moving forward, organizational leaders need to determine key metrics that can help them meet their growth goals. Here are six metrics they should consider, according to The Enterprisers Project.
- As one-time transformation metrics are evolving into ongoing transformation metrics, your organization should determine how to scale digital transformation in a way that adds value across products and services.
- Automation and cloud-native tools can make your organization more adaptable. Implementing end-to-end processes in the cloud can help your organization learn from human interaction and quickly adapt to users’ evolving needs.
- Determine how and where to invest revenue—whether it’s building a direct-to-consumer retail platform or deciding how innovation is affecting your earnings.
- Track the percentage of your most vital AI-supported business processes and systems. This will help you appropriately scale the use of your AI capabilities.
- Explore different ways you can invest in digital transformation to enhance employee experience and productivity.
- Implement digital transformation initiatives that will help you reach your business model’s sustainability goals. This could include tracking your technology footprint across infrastructure, apps, and data, as well as implementing platforms that measure sustainability for clients and markets.
- Lastly, how your organization leverages digital transformation for growth will depend on your unique needs.
“While digital native companies focus on how to deliver value to the edge, others can turn to technology that offers an instant impact by making processes more efficient–perhaps developing digital models for traditional retailers or escalating supply chain processes for fluctuating in-demand products and services,” writes Dean Stoecker, co-founder, former CEO and executive chairman of Alteryx, in Forbes.
The Next Phase of Digital Transformation Will Be Human Centered
As organizations prepare for growth, they need to shift their focus away from the technological aspects of digital transformation to the human ones.
“Amid this rocky start to the new decade, we’re embarking on the next iteration of business evolution—Digital Transformation 2.0,” Stoecker writes. “Unlike its 1.0 predecessor, this next attempt at transformation will benefit from putting more trust in humans and their ability to engage with technology to produce results.”
For this next iteration of digital transformation to smoothly unfold, organizations must focus on effective change management. As employees quickly adapt to new technologies and processes, leaders need to adjust to the new demands of their workforce, ensuring that workers have the right coaching, training, and mentoring. Otherwise, employees may grow frustrated and take their talent elsewhere.
Many organizations are upskilling their existing workforces to meet the new demands of digital transformation. The global professional services firm PwC, for example, has taken an internal approach to digital transformation by investing in data-focused training for its employees, rather than hiring outside talent to fill these roles.
Digital transformation will continue to accelerate across industries. By focusing internally on specific areas where digital transformation is most needed and supporting their human needs, organizations can successfully leverage digital transformation for growth.
Prepare Your Organization for Digital Transformation
Get your organization ready for digital transformation. The IEEE five-course program, Digital Transformation: Moving Toward a Digital Society, is aimed to foster a discussion around how digital transformation can transform various industries and provide the background knowledge needed to smartly implement digital tools into organizations.
Contact an IEEE Account Specialist to get access for your organization.
Interested in the course for yourself? Check out the courses below on the IEEE Learning Network.
- Understanding Digital Transformation: The Key Concepts
- Forecasting Digital Transformation: Tools and Methods
- Drivers of Digital Transformation: Communications, Big Data, and AI
Overby, Stephanie. (26 May 2021). Digital transformation: 11 skills CIOs need to get it done. The Enterprisers Project.
Stoecker, Dean. (12 May 2021). Digital Transformation For A New Decade, Powered By Humans. Forbes.
Overby, Stephanie. (5 May 2021). 10 digital transformation metrics to measure success in 2021. The Enterprisers Project.