The economic value of transformation could be worth as much as $20 trillion or more than 20 per cent of global GDP according to research outfit International Data Corporation (IDC).
However the majority of companies at still at the start of their transformation journey say the analysts.
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IDC today announced the roll-out of the IDC Digital Transformation (DX) Taxonomy across industry verticals represented by 14 Digital Missions, 60 Strategic Priorities, 160 Programs, and over 450 specific Use Cases.
The company’s DX maturity benchmark of over 1,600 companies indicates that 67 per cent per cent are in the early stages of their transformation as “digital explorers” or “digital players,” meaning less than 5 per cent of companies are fully transformed. The full disruptive impact of DX has not yet been realised but is well on its way and is going to fundamentally change business markets and how companies attract, delight, and retain customers.
It provides structured guidance on how industry and government verticals are creating and enabling digital transformation success in the digital economy. While the taxonomy is an extensive representation, it is not exhaustive and will evolve over time as technology matures and opportunities present themselves.
IDC’s DX taxonomy is a four level model:
- Digital Mission (one per industry). The digital mission is the business organisation’s overarching aspirational goals and objectives. Each industry has its own unique mission.
- Strategic Priorities (several per digital mission). There are several strategic priorities that describe what organisations expect to accomplish over an extended time period in order to achieve their digital mission.
- Programs (several per strategic priority). Supporting each strategic priority are several programs. Each represents a long-term plan of action to achieve the strategic priorities through a series of use cases.
- Use Cases (several per program). Under each program are a set of use cases. These are discretely funded efforts supporting a program objective. Use cases can be thought of as specific projects employing line of business and IT resources including hardware, software, and IT services. Each use case is organised by the use case name, current situation, business goals and objectives, key technologies used to enable desired business outcomes, and a summary of the results.
For technology buyers, this collective body of expert guidance identifies where and how to craft a winning DX business strategy and execution roadmap.