The digital revolution is reaching beyond simple ecommerce to recast business models and turn entire industries upside down. And the pace of change is only picking up. Already, business leaders are confronting the next phase of technology as robotics, artificial intelligence and the Internet of Things make their way into the mainstream.
To capitalize on digital opportunities and avoid its threats, businesses must proceed from knowledge — not guesswork. Successful businesses assess and then act on digital opportunities in three tranches: digital readiness, digital strategy and digital transformation.
Prepare your business for digital change. The result will be an improved understanding of where your digital capabilities and offerings stand today. You’ll also get a sense of your current and future digital needs, plus an ability to get the full value from digital strategies and tactics.
Identify and plan for digital disruption. You’ll acquire greater engagement with your customers and influence on digital channels along with the evidence that your goals are realistically achievable. In addition, you’ll gain a systemic way to prioritize investments in digital technology so that it meets customer needs, drives revenue and improves business performance.
Modernize your business for the digital age. Benefits include materially improved customer service, new products and services, reduced friction in customer interactions, and a purchase experience that’s unique to each customer. Another payoff: a higher return on digital investments.
L.E.K. can help you better understand the digital world in which you operate and make it a core dimension of your business.