(Source: InfoWorld)
While these definitions are valid, they are also too
broad and high level, especially for executives who
are trying to grasp where and how to get started or
move forward on this journey. Therefore, we propose
a more grounded and practical definition:
If you do an online search for "digital transformation definition," you get
about
133 MILLION results, including the following examples:
(Source: CIO)
Digital Transformation is application of
digital capabilities to processes, products,
and assets to improve efficiency, enhance
customer value, manage risk, and uncover
new monetization opportunities.
Digital transformation is
the application of digital
technologies to fundamentally
impact all aspects of business
and society
Digital transformation is
taking action to:
• Eliminate waste from the value
chain, which includes eliminating
manual and paper-based business
processes;
• Break down the silos between
functional groups and IT systems
and enable true collaboration
and intelligence sharing between
them;
• Integrate electronically with all
trading partners, preferably in
a cloud- and network-based
platform, using modern
technologies such as APIs and
web services;
• Treat data as an asset and
develop processes and a
governance structure to manage
data quality;
• Leverage network-based business
intelligence, optimization, and
analytics tools to convert data
into actionable intelligence.
