Market Leaders and Fast Followers Prepare for Digital Business In 2014
Conversations at Constellation’s Connected Enterprise last week validate a larger trend in the market place. The audience of 220+ early adopters with 75% representing line of business and 25% in IT highlighted the convergence of the five forces of consumerization described in 2009 and 2010. This convergence of these five pillars of digital business now form the foundation of all future digital business strategy and drive customer experience, matrix commerce, future of work, data to decisions, consumerization of technology, and digital marketing (see Figure 1.). In fact, market leaders and fast followers have embraced this strategic direction in their 2014 planning.
Figure 1. Convergence Of The Five Pillars Drive Digital Business Strategy
Emerging Trends In 2014 Digital Business Strategy Reflect The Shift To Digital Business
As Constellation works with leaders to define their 2014 business strategies, digital transformation plays a key role. Many organizations will:
- Recognize that they no longer sell products and services, as buyers seek experiences and outcomes.
- Democratize the data to decisions pathway to enable innovation.
- Realize that B2B and B2C are dead. It’s a P2P and M2M world.
- Focus on context as right time relevancy beats real time information overload.
- Shift from engagement to personalization at scale.
(A full update will be posted in Harvard Business Review soon)
The Bottom Line: Organizations Can Expect The Rise Of Chief Digital Officers