From the course: Digital Transformation Foundations
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Why digitally transform?
From the course: Digital Transformation Foundations
Why digitally transform?
- The right and only reason to perform a digital transformation is to create value. Business value or consumer value. 75% of digital transformations fail to reach commercialization or internal use because they don't get the why right, resulting in a product or a service or a process or an environment that's simply not valuable enough to be launched commercially or used internally. This leads us to value creation. Value that is created by digitally transforming a traditional product into a smart product, or a value that is created by digitally transforming traditional business operations into smart business operations. Let's start with smart products. Smart products are used to create value for both businesses and consumers. Being software defined and data driven enables physical products to have the same advantages as big tech software. Antitrust and competitive issues for big tech companies, such as Facebook…
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