IT Governance and Executive Strategies
|We're closing in on a decade since the Great Recession of 2008. And I remember a focus group in Phoenix in 2017 where small business construction firm owners foreshadowed what was to come as high raw material end energy costs cut profit to the bone and left them little financial cushion when the wheels came off in the fall of 2017. After ten years, the global economy has been steadily improving, though of course pockets of problems are still around (ask the unemployed young people in…|
While IT spending is broadly heading in the right direction this year, thanks to upgrade cycles for cloud and mobile, there’s a lot of underlying activity across vertical industries which makes analysing and identifying opportunities a more complex exercise. In fact, having access to a full view of your target markets by industry and company size should be required reading for any strategic or tactical planning exercise. Only by understanding the direction of IT spending at an industry level can you hope to formulate a complete picture of upside and downside scenarios for both the short and the long term.
IT Spending Growth: Financial Services
At a high level, total IT spending growth is currently led by financial and professional services firms. This includes cloud service providers, most of which are classified in the professional services vertical (exceptions are Amazon and some telco providers), and which are once again ramping up their spending in infrastructure as end-user demand for public cloud services continues to account for a growing proportion of IT budgets across various other…
While a lot of attention has rightly shifted to the long-term promise of new technologies like IoT, artificial intelligence and augmented reality, we haven’t yet reached the endgame in terms of the opportunities surrounding the migration to cloud and mobile platforms which have largely driven the IT market since 2012. In fact, vendors which have gone through the sometimes painful process of shifting their business focus to the 3rd Platform over the past five years should be rewarded with improving fortunes in the next 12-18 months.
Last Year's Weaker Period for IT Spending and Today's Upturns
Cloud Services and Software
The last year or so has been a weaker period for IT spending, overall. Cloud service providers took a breath after several years of aggressive infrastructure investment, with some waiting for the next Intel cycle (Purley) before upgrading their core datacenter equipment. Software-defined everything has also begun to take a bite out of infrastructure hardware spending. But end-users are still migrating…
Welcome to Part 2 of this 5-Part series on digital transformation (DX) in the enterprise. Read on to learn the new IT capabilities required for DX and how enterprise leaders can help implement them.
In Part 1 of this Digital Transformation (DX) blog series, the strategic priorities of a digital strategy were introduced. Today's strategic priorities help you drive innovation at scale by innovating, integrating, and incorporating digital platforms into existing systems and service capabilities.
New IT Capabilities for DX and the Leadership Role
Whether IT is leading the digital transformation or not, IT brings several critical elements to the table:
1) Recommending emerging…
This blog identifies four core elements and poses essential questions for enterprise executives to focus on to achieve operational excellence in the enterprise. Focusing on these core elements will help you accelerate digital transformation in your organization.
IDC research shows that a unified approach between IT executives and managers and LOB and product teams accelerates transformation outcomes, notably around speed, quality, and customer experience outcomes.
By placing emphasis on four core areas: leadership, collaboration, culture, and metrics; enterprise executives can unite IT and LOB to streamline digital transformation (DX). The main goal is to create an environment where the organization can continue changing down the line,…
ICT Industry trends from 2015 - 2020, based on data from IDC's Worldwide Black Book (3rd Platform Edition). Learn 3rd Platform Opportunities, Impact on IT Spending by Innovation Accelerators and a broader view of worldwide ICT Spending.
ICT Industry Marked by Slower Growth
In the past few years, it has become clear that the overall ICT industry as defined by the Worldwide Black Book has entered a period of long-term slower growth. This has followed a consistent pattern, in which a short-term economic slowdown leads to new ways of ‘doing more with less’ on the part of IT buyers and a focus on technologies which reduce the need to increase spending as much as in the past. After the 2001 dotcom recession, it was outsourcing…
I recently spoke with Forbes Insights about some of the findings from IDC's research into business maturity with digital transformation. The following has been edited for length and clarity.
The original version of this article was published in Forbes Insights' Digital Transformation: Using Data-Driven Insights for Exceptional Customer Engagement. Click here to access the document.
IDC has conducted a lot of research into the maturity levels of businesses around digital transformation. Where in that framework do most businesses fall?
It varies by industry, but in aggregate, when we look at total digital transformation maturity, about 67% of organizations are really exploring and…
ERP systems have a scary reputation. Over the years many enterprises have initiated massive ERP implementations and upgrades, only to find themselves behind schedule, way over-budget and only using portions of the ERP functionality. Some of these initiatives have been abandoned mid-project or even ended in litigation. As a result, CIOs must carefully evaluate requests to make major changes to functioning, albeit woefully outdated, ERP systems.
Intelligent ERP (i-ERP) applications are ERP applications or suites that use machine learning and advanced analytics with curated data sets to manage resources and business processes. They feature an assistive and conversational user experience, and automate a set of high-volume repeatable tasks and augment (via human-machine interaction) the performance of less frequent, more novel tasks. Intelligent systems and applications are capable of processing, analyzing, and acting on…
The new blog series from IDC will inform IT and business leadership teams of the latest IT capabilities required, priorities of a digital transformation strategy, skills to master, and key technology investments needed. Part 1 identifies the top goals of digital transformation for enterprise executives and their leadership teams.
Big Bold Bets
Over the past three years, organizations have toiled away on their digital strategies. They have placed big bets, evolved their cultures, and laid the foundations for new business models. We see evidence of this labor with brand name companies reinventing themselves before our eyes:
- Under Amour has invested close to $800 million over the past two years in health and fitness applications to build the world's largest digital health-and-fitness community.
- BMW, through its…
The rapid emergence and spread of digital “innovation accelerators” such as AI/cognitive computing, robotics, and IoT has many businesses scrambling —in a highly competitive and often volatile marketplace — to figure out where and how these innovative technologies fit into their business and technology strategies for digital transformation (DX). Many businesses are exploring or innovating digitally enabling products and services; others are creating new digitally enabled products, services, and customer experiences. Often, this experimentation and product development is taking place in labs or limited test bed prototypes.
To attain business benefit, however, the products of these innovation efforts must be transitioned into the existing enterprise platform. Success hinges on IT’s art of integrating — in a systematic fashion — speed, agility, and customer responsiveness with predictable, optimized IT infrastructure and operations. Integration enables a full-spectrum IT leadership framework that can manage continuous transitions from old to new, from unstable to stable, and from experimental to operational. Lack…
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