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Digital Transformation Defined. Findings From 10 Industry Thought Leaders

Digital Transformation Defined. Findings From 10 Industry Thought Leaders

December 11, 2017
Last year, we noted that a significant market challenge was the lack of a clear digital transformation definition. On the surface, digital transformation simply means the transformation of a business to a more digital state. The problem we identified, however, lies in defining what exactly that state is and how a business should go about getting there. This problem persists, as studies from the current year show that a lack of a clear and consistent definition continue to slow digital transformation’s development in many corporations. In our compilation of definitions from top thought leaders last year, we found that most agreed that digital transformation was based around adjusting operations to meet customer expectations. What we found lacking in definitions overall was the role of leadership and culture, challenges that continues to plague digital transformation. While the challenge persists, however, the best minds in the business are constantly working to [...]
Digital Transformation Challenges – An Opportunity for Consultants

Digital Transformation Challenges – An Opportunity for Consultants

November 27, 2017
Experts in the business world agree that digital transformation is an opportunity for businesses of every size. Customers’ buying habits have changed dramatically with the introduction of digital and mobile devices. Businesses must therefore change the way they develop, sell, and distribute their products or services in order to match these buying habits. One would expect, therefore, that most business leaders across the board would take pains to prioritize digital transformation efforts. Early results, however, show that the majority of businesses are experiencing digital transformation challenges. Moreover, those businesses that are putting real efforts towards digital transformation are failing to keep stride with their customers’ buying habits. Altimeter, a branch of Prophet consultancy that specializes in helping companies with innovation and digital transformation, recently released its 2017 report on the State of Digital Transformation. The report summarized the key findings with the statement, “Many companies surveyed in 2017 are [...]
Digital Transformation in the Consulting Industry Ebook

Digital Transformation in the Consulting Industry Ebook

October 26, 2017
There’s no denying that digital transformation has reached buzz word status. It’s in the news, in commercials (the Dell commercials with Jeffrey Wright are great), and it’s at peak popularity in Google Trends. However, business leaders and consultants shouldn’t allow the over-saturation of the term to daunt them. There is real opportunity behind it and real potential for digital transformation in the consulting industry. A conservative estimate from Zion Market Research estimates that in 2015, the entire digital transformation market (defined as cloud computing, big data, mobility and social media) was valued at $150B. According to Zion, “Global digital transformation market to top USD 431.71 billion by 2021, growing at a CAGR of 19.2% between 2016 and 2021.” That’s a significant driver of economic growth. Consultants have rightly established their own foothold in the area. In 2017, the digital transformation consulting market was valued at $23B globally roughly 18% [...]
Recruiting Consultants, Why It’s A Whole New Game

Recruiting Consultants, Why It’s A Whole New Game

October 5, 2017
Acquiring top talent is critical for the consulting industry. In fact, the traditional consulting business model relies on firms being able to market themselves as warehouses of top talent. As firms become more digital, putting thought into recruiting consultants is only becoming more essential. The jobs that businesses consider critical are starting to change. Data mining, for example, is becoming more important in virtually every industry, and consulting is no exception. In order to build the workforces they need for the future, therefore, firms cannot afford to wait. They need to quickly fill the talent gaps they identify based on the change that digitization brings. The Rise of Millennials The millennial generation (those born between circa. 1981-1996) is entering the workforce in rising numbers. In 2015, millennials surpassed Generation X as the most represented generation in the workforce, and by 2020 they are predicted to be nearly half. It [...]
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