Only companies which become thoroughly digital and data driven from sensor to motor will be able to understand their markets and their customers at a deeper level and become truly intelligent, sustainable and valuable enterprises and leaders in their industries.
Leaders of the digital transformation know how to activate data as the 4th production factor - to become a data-driven business, catapulting themselves to the front of their industries. They understand their markets and their clients with unprecedented clarity and predict demands much better than their peers. They see the world and their business through data and have gained knowledge and understanding which helps them to develop, design and deploy products and services with unmatched precision. Their production machines are able to monitor their own health and pinpoint any predictable failure or quality deficiency with great accuracy before they occur. They are able to play their pricing strategies with great finesse and reap margins beyond anything possible with any classic approach, while their competitors are still guessing.
While the laggards are struggling with large, sluggish and expensive IT infrastructure projects, digital leaders have understood that they already possess most of the ingredients for their data-driven business. They will find that there is an elegant way to make that quantum performance leap, and that all they need to do is use the right recipe, the right design for their digital business.
Horváth performed the “Digital Value” study from April to May 2019. 300 executives from 14 industries took part.