What Is the Success Criteria for Digital Transformation?
What are the typical success criteria for businesses undergoing a Digital Transformation?
[Jason Chisholm] Can you talk to us about some success criteria associated with digital transformation? As an organization is going through this exercise, what are some of the things that we can look at as ways of measuring if it's working or not?
[Chandler Stevens] I think the primary measurement is this notion of agility when adopting a new business process, technology, or product. Having the agility to really be able to see end-to-end, what is this new process going to do for our organization? Digital transformation lends itself to be able to have that picture and not necessarily have to take a guess or estimate about what that effort would look like. Digital transformation allows the organization to really say, how are we doing against the current processes, and how have we improved time over time? Same follows true for this notion of making informed decisions based upon new insights that are gathered from analytics, from digital transformation processes. Digital transformation lends itself to being able to collect data in a variety of different ways and really provide some insights on top of that information so that more informed decisions can be made and not decisions made, again, based on guessing or guesswork or with invalid data.
[Jason Chisholm] So having an understanding of things that you want to accomplish, whether those are goals or milestones, as an organization helps you figure out what's working and what may not be working.
[Chandler Stevens] Yeah, absolutely. I think that for the organizations that are data-centric and can really have a very good picture of their end-to-end processes, whether they be a manufacturing floor or a financial services organization. Having that data in hand and being able to apply analytics against it is a huge differentiator for those organizations embracing digital transformation versus the ones that have a lot of data, but they're not really doing anything with it—they're just simply stockpiling it, and they're not really providing analytics against it to make those decisions.
[Jason Chisholm] Right, so knowing what you want helps you determine if there's success or possibly failures.
[Chandler Stevens] Having those goals in mind at the beginning is important, but also having the patience to understand that those goals may evolve over time as well. What you think you know today based upon the current data that's being collected or the current analytics being collected may very well change in six or 12 or even 18 months' time. So it's important to have some agility, some flexibility, in embracing what you don't know today and things you can learn for tomorrow.
[Jason Chisholm] Wow, great points, and thank you for sharing your insight.
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