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The Competitive Advantage of Digital Transformation
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It’s not the hardware or the software that presents the biggest risk—it’s the wetware or the human element that presents the biggest risk
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Digital transformation is the operational transformation of a traditional company into a digital-traditional company. The digital operating partner uses high technology such as the internet of things and data science such as analytics, AI and machine learning to deliver digital initiatives designed to increase enterprise value.
Digital transformation is hard, but it’s due to reasons that may seem counterintuitive.
Tech such as Internet of Things (IoT) and data science is on the cutting edge, so of course it’s a challenge, but tech is a manageable challenge with the right experience and development partners. It’s not really the hardware or the software that presents the biggest undertaking; it’s the wetware. As in any operational transformation, it’s the human element that presents the biggest risk.
That said, experience has shown that when employees are in the right environment, this risk can be mitigated.
Author of The Private Equity Digital Operating Partner: Using Digital Transformation for Value Creation.
Mar 29 2021
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