An annual survey conducted by PwC’s Advisory practice provides a compelling look at changes in the digital space as well as the development of a corporation’s Digital IQ. One would expect that today’s companies have a much better Digital IQ than they did in 2007. The reality is surprisingly, no.
In a recent PwC survey, executives say they look to digital initiatives primarily to increase revenue and reduce costs. This means there’s less priority being placed on innovating and implementing the latest technologies into their products, however.
Source: Harvard Business Review, May 29, 2017.
While management recognizes the importance of the digital transformation, technology has also accelerated at a breakneck speed, making it more difficult for businesses to keep up with the curve, much less stay ahead of it.
How can companies translate these efforts into results going forward? The answer PwC found is simple, if not a bit ironic: focus on the human experience.