It is well known that digitization is disrupting almost every conceivable industry, as well as individual roles. But to gauge the exact numbers, a study was conducted by consultingfirm- Bain. The study revealed that nearly three-fourths of respondents feel that digital is affecting operations by increasing speed and responsiveness. A slightly smaller number feels that it is reducing costs, and a similar number feels that it is improving on the ability to forge business innovations. Only a third however feel that it is there to transform existing business models. Companies are facing a massive conundrum. They are not sure whether to invest immediately or wait for the tide settling in. The latter risks falling behind competition or fully shutting down, while the former is also challenging as future requirements may be quite different. The need of the hour is to identify digital leaders who will identify two or three trends which will have substantial growth in the future. Any company requires both the Doers as well as the Dreamers. The former execute the operations, while the latter help in developing a vision for the future. Ambitious targets need be set with year-on-year growth targets above ten percent. Companies must invest in digital skills such as automation, business analytics and the Internet-of-Things.

Source:http://www.bain.com/infographics/digital-operations/

Uploaded Date: 30 may 2018