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Why digital is at the top of the business agenda

MFT ready

MFT ready

UPDATED 11/13/18

“Digital business” is a term that has been around for decades. In fact, it was mentioned in the second session of the 84th U.S. Congress in 1957, more than a decade before ARPANET (the network that was the basis for the Internet) was established. Also, 36 years before the debut of the World Wide Web that we know and depend on today. But only in the past few years has it become one of the hottest topics across the business landscape, with almost every major research house making bold predictions about the expected digital business transformation in the coming years.

Why digital business?

But what exactly is a digital business, and why should it be at the top of organizations’ agendas? That’s a question we’ll attempt to answer in this blog post, the first in a series about digital business and what it means for organizations in today’s business landscape.

Gartner defines the term as “the creation of new business designs by blurring the digital and physical worlds.” That’s a start! But it doesn’t paint the complete picture about the real benefits delivered by digital businesses. Forrester revealed that 74% of business executives say their company has a digital strategy, but only 15% feel they have the skills and capabilities to execute it – so clearly organizations’ ambition far outweighs their talent in regards to embracing a digital business model.

This also means that with many businesses struggling to implement digital technologies, a significant opportunity exists for early movers to become leaders in their industry. But to truly understand how organizations can benefit from becoming a digital business, it’s helpful to start by looking at the driving forces behind the movement.

Driving forces

Ultimately, embracing digital business has become a necessity for organizations today. This is the most direct way to answer the question of why it should be at the top of their agendas. In the next few blog posts, we’ll dig deeper into how organizations can implement a digital business strategy and succeed from it.

Learn more about digital transformation here.

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