What makes decision-makers invest in transformation and innovation, even in uncertain times? The pandemic showed the growing importance of digitization: companies with highly digitized business models could better adapt to the crisis, whereas more traditional organizations were compelled to transform themselves quickly in a difficult economic environment. Today, more than ever, organizations are aware that they must become more resilient, agile, responsible, sustainable, customer- and employee-centric, and efficient.
Unlocking the value of data has been a central goal for organizations’ digital strategies. Not surprisingly, valid and trusted data is at the heart of any digital transformation. It forms an essential basis for many innovation areas, be it the Internet of Things (IoT), artificial intelligence (AI), or sustainability.
Resilience has been a significant objective for organizations since the pandemic; broken supply chains and energy crises have shown the vulnerability arising from unpredictability. Given the drastic and unexpected challenges, organizations' top priorities are more transparent and resilient supply chains and increased agility and flexibility. Because of highly uncertain future developments, they remain important targets for strategic initiatives.
The need to protect the digital supply chain, products, data, and working streams against internal and external attacks has become a matter of course for most companies. Our study reflected the high importance of cybersecurity-related goals. Even if cybersecurity is usually considered as less differentiating compared to, for example, customer experience, it is seen as a 'must-have‘ investment.
Digital projects are also strongly focused on efficiency goals related to internal processes. Increased automation not only helps increase efficiency and reduce failure rates; it fights the omnipresent skills shortage.