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Inc.Digital and Transparent Partners Create a Platform for Digital Transformation Success for the 82% of Corporations Who Are Not Thriving (Yet)

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Inc.Digital and Transparent Partners Create a Platform for Digital Transformation Success for the 82% of Corporations Who Are Not Thriving (Yet)

Using framework and cloud-based software from the authors behind the bestselling book, The Digital Helix, Inc.Digital and Transparent Partners offer a complete platform to architect successful digital transformation based on best practices.

PR Newswire

SEATTLE, Aug. 22, 2018 /PRNewswire-PRWeb/ -- Primary research in May and June of 2018 with Global 2000 Executives and leaders done by Inc.Digital shows that the number of corporations seeing extraordinary results from their digital transformation efforts has only reached 18%. That is a growth of only 2% since the original research for The Wall Street Journal bestseller, The Digital Helix was done. Currently, more than 98% of large corporations are attempting to digitally transform and re-organize their business practices around digital technologies like AI, big data and automation. In 2017, these organizations spent more than $1.7 trillion on those efforts, according to IDC.

"The 18% of organizations that are thriving are seeing extraordinary results in all areas of digital transformation," said Michael Gale, Partner at Inc.Digital. "This includes brand strategy and culture to processes to digital as a growth engine to traditional economics. Every major corporation we researched showed some level of positive results for anything digital they were doing. However, the gap between the digital leaders and the rest was enormous. We were able to confirm with the algorithm that these leaders, or 'thrivers,' also make up 91.25% of the group of corporations that had exceptional growth in 2017 in their industries. This conclusively shows that thriving digitally statistically connects to an organization's potential growth."

The primary research measured success using 26 independent metrics and over 135 variables in order to plot the specifics of what was driving digital success across each of the eleven industries. Inc.Digital was able to measure the digital DNA behind each of the leaders' extraordinary success and show the gaps the remaining 82% need to fill. Interestingly enough, the main issue was not the intent to transform, but the processes and investments in technologies and methodologies that mattered for each corporation at their stage of digital transformation. Overall, the best performers, or the thrivers, were able to extract returns four times or higher than their competitors, especially in sectors such as healthcare/pharma, banking/finance/insurance (BFIC), consumer product goods, industrial product categories and even in technology/telecommunication corporations. We also saw subtle differences showing how having the right people and titles in place (like chief digital officers) was critical in sectors like healthcare/pharma.

The platform partnership between Inc.Digital and Transparent Partners includes software, digital transformation consulting and architecture services, professional services support, and it offers corporations struggling with a research-based pathway and architecture to build their own digital DNA for sustained success. In sectors like healthcare and pharma corporations, for example, the research shows that leveraging the digital drivers was three times more powerful for driving change. Thrivers in this sector also had a unique combination of chief digital job titles that contributed to their success.

"The pressure is on to get transformation right as winners are being created in every industry right now," said Brandon Starkoff, CEO of Transparent Partners. "This is especially true in the marketing technology and data fields where there is so much pressure. Yet, no tools or capabilities for mapping their digital journey exist today. The good news is that this platform can show them the hundreds of successful routes and processes to help any organization succeed. Seeing the right information, specific to your industry, with an independent team to architect your journey, is the key to getting transformational results today."

Having a platform as a single point of independent truth in each of the eleven industries gives leaders the choices they need for success. This enables corporate leaders to guide and invest in the right areas for their next digital moves and drive success based on solid data, not intuition. In addition, the research looked at key elements, such as information sources used for decisions, the range of relevant job titles and budget ownership in over 500 of the Global 2000 organizations. Research with the corporate leaders showed the power of managing these journeys utilizing differing strategies and investments at each point in a complex journey.

The partnership will continue to update the platform and application on an annual and global basis starting in 2018. Also, the platform will be updated with specific algorithms for digital transformation in marketing/technology, sales, and product and services development, as well as load in new case studies and insights from the research and ongoing work.

"Walmart and other leading brands have credited us with uncovering new ways to create value due to our unique approach and understanding of trends in the digital landscape," said Starkoff. "We see this partnership as a significant step towards enhancing these capabilities based on a proven digital roadmap and framework. Using the data and best practices from industry leaders in this algorithm, there is no doubt this partnership between Inc.Digital and Transparent will uncover new ways to create value for our clients' digital businesses."

Sample Data Points From The Digital Helix Algorithm Research

  • Leaders in major corporations on average use 1.75 sources of information for decision making on digital transformation. From a list of 20 alternatives, the number one source of information for thrivers is books on the subject followed by business websites.
  • The industry sectors where thrivers have been the most successful compared to their peers are banking, finance & insurance (BFI), consumer product marketing (CPG), industrial products manufacturing, construction and IT/technology/telecommunications.
  • 38% of major corporations significantly lag other corporations in their sectors. Despite them recognizing the need to transform, they've barely gotten past isolated experiments.
  • Thriving healthcare/pharma corporations are twice as likely as their peers to be adjusting their strategy and delivery for the changing demographics of a digital world. They are also 60% better at organizing around the fact that patients and customers for their products and services have very different ways of measuring the value of their experiences with these companies.
  • Thrivers in major consulting and professional services corporations are three times better than their peers at working the idea that customers have very different ways of measuring the value of their experiences in a digital age.
  • Thrivers in CPG are nearly two and half times better than their peers at recognizing that supply and demand systems need to be extremely close and almost instant in a digital world. These CPG thrivers have also fully embraced the idea that change is a constant and not just a momentary transition.
  • IT/technology/telecommunications corporations who are thrivers are 86% better in terms of paying attention to the potential power of digital first start ups in their sector.
  • Executive leadership at thriving IT/technology/telecommunications corporations is seen as being three times more likely to be leading from the front as digital explorers than their peers.
  • Thrivers in retail/distribution corporations index at 176 or 76% over average for how they are working the ideas of digital innovation into their daily business practices to generate parallel changes in customer experiences, cost effectiveness and deeper innovation changes at the same time. This is ten times better than those peer corporations that are poor at digital transformation.

About Inc.Digital
Inc.Digital's focus is the application of research-based insights and tools to help inspire and prepare corporations to thrive with their own digital transformation initiatives. Based on the award-winning principles in The Wall Street Journal bestselling book, The Digital Helix, our IP and engagement focuses on utilizing a cloud-based application across 11 industries and 95+ segments to drive digital transformation success. This helps reveal and guide what is possible for organizations and sets them up for digital success. You can contact us at http://www.Inc.Digital and learn more about The Digital Helix book at http://www.TheDigitalHelix.com.

About Transparent Partners
Transparent is an independent marketing technology and data consultancy focused on safely guiding corporations through digital transformation by aligning platforms, people and process to create top line growth and improve bottom line operational efficiencies. Transparent has worked with 10 of the Fortune 100 companies and brings nearly 70 years of collective digital and technology experience to solve the complexities of technology, data and organizational culture that challenge successful business transformation. You can contact us at http://transparent.partners.

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SOURCE Inc.Digital

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