Digital transformation is no longer a buzzword, but a reality, but technology alone can't help. Mindtree's Krishnakumar Natarajan writes.
Digital transformation, a marketing buzzword in recent years, has morphed from a gimmick into a central component of modern business strategy and a means of gaining competitive advantage. Recent research by Forbes revealed that while only 44 per cent of companies see themselves as being advanced in data and analytics, over 90 per cent of those surveyed have already seen revenue increases due to its use.
Enterprises are finally beginning to understand that technology is just not a business enabler but the business itself. Along the same lines, digital transformation is not just about the technology, it is as much about the reshaping of how individuals work and the culture of the organisation themselves. As technologies keep evolving, it is essential for businesses to build capabilities to stay curious and have the courage to experiment and fail.