by Karen Graham, Digital Journal (excerpt)
“Altimeter principal analyst Brian Solis noted that while a growing number of companies are investing in new innovation strategies as a way to uncover new growth opportunities, they are also falling down on their efforts to understand digital transformation and its purpose.
One of the things Solis points out is that while many businesses cite ‘evolving customer behaviors and preferences’ as the top driver of digital transformation less than half invest in understanding digital customers. This may be because less than 31 percent of companies surveyed in the new report viewed digital transformation as a fixed cost in their business…”
This lack of a budget and resources can actually hinder any advancement in transformation and in turn hinder a company’s growth. Another hindrance is a lack of digital talent and surprisingly, especially in this day-and-age, a lack of interest in changing a company’s culture.