Idea generation is important for the progress of any organization.
This fact applies more to today’s fast-moving trend, where complete execution has become a nightmare for many in run for future developments.
Experts at the recently-concluded MIT Sloan CIO Symposium in Cambridge emphasized on the same challenge in Digital Transformation (DX) journey.
“Success is about being able to execute constantly changing strategy– not the strategy itself,” said Jeanne W. Ross, principal research scientist, MIT Sloan Center for Information Systems Research, in her address to IT business leaders on digital arena.
4 Basic Factors that IT business leaders recommend considering in DX journey:
1) DX is not just about digital products
The first and foremost factor that hinders the success of DX journey is ‘misconception’ over DX and digital products.
If you think DX is all about gathering digital assets, then you should rethink! To avoid this, clearly define parameters around your transformation journey, get actionable DX market insights and think well on experimentation.
Best ways to achieve this is by sharing awareness and responsibilities among teams. All you need is resources that support your end goal and business value!
2) Match customer expectations
Firms with successful Digital Transformation (DX) journey report following five key factors:
- Share customer insights unlike data silos
- Strong operation backed by technology to handle core operations
- Dedicated digital platform to recreate and innovate
- Being accountable
- External support to extend in case of urgencies
“Especially in B2B, when you’re developing, you’re going to think you have a brilliant idea. Your customer may not agree,” says Ross.
The data you use to promote your company’s product should not divert the customer’s attention to something else and focus on the enhanced experience. Ensure your business has the solution that customer tries to meet, for a better deal!
3) Platform is important
CIOs and IT business leaders opine that the right platform to implement is as important as introducing new offerings in a DX journey.
And, the platform should be ideally supportive for both customers and new partners joining you. Beyond everything, the idea and execution should be customer-centric.
4) Cross-team collaboration is key
No one would wish to waste time and team resources on initiatives that add no value. However, there is a way to empower your teams to experiment and learn something new. Business leaders recommend making teams work cross-functional, offering scope for different perspectives across the business chain. They say ‘collective intelligence’ can make any experiment successful, minimizes time to resolve an issue and increases productivity.
On an EndNote
These four factors play a very important role in the successful implementation of the DX Strategy. Looking for any support? Veritis Digital Transformation (DX) Solutions can show a path for successful DX implementation.
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