The third annual State of Digital Transformation Report (2017), by Brian Solis, provides an interesting overview of the extent to which organisations are investing in digital strategies, initiatives and operational models.
While a growing number of businesses are currently investing in innovation strategies to uncover new growth opportunities, most companies are not responding fast enough to keep pace with the pervasive changes taking place in consumer buying behaviour.
In many of the companies surveyed, there is a lack of digital leadership and purpose with most struggling with the technological and human challenges of Digital Transformation (DT).
The pace of innovation, in response to the rising expectations of constantly connected customers, is being held back by poor digital literacy, together with a short-term focus on costs rather than the long-term investment required to remain competitive.
Risk-averse company cultures, lack of urgency, politics, egos and fear have also emerged as major barriers to successful digital transformation.
Please see The 2017 State of Digital Transformation Report for a more detailed summary of key findings, with the full report being available as a pdf download.