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Global value creation stories
eight insights
Digital transformation
in the Experience Age
Corporate website
©2023 Eight International
Authors
We’re all familiar with the concept of digital transformation (DX). Specifically, most of us are aware that businesses have had to digitalize their operations and processes, and that it’s an ongoing process. That’s because the rapid pace of technological advancement is constantly creating new industries and profoundly altering existing ones – disrupting business models and changing customer expectations along the way.
But not everyone realizes that DX is increasingly associated with a paradigm shift that’s taking us away from the so-called Information Age and into the Experience Age. If the Information Age was all about creating, capturing, and processing information, the Experience Age is about being connected. It’s about how our immersive experiences dictate what, where, and how we consume information.
We are, of course, more connected than ever. Forecasts suggest that by 2025 there will be more than 75 billion devices connected to the Internet of Things.
The benefits are clear: connection dramatically improves communication and collaboration. But it also brings more cybersecurity risks. And global crises – the pandemic and the war in Ukraine are good examples – are demanding much more agility from organizations and businesses to innovate and respond to disruption.
• Metaverse
• Artificial intelligence
• Internet of Things
• Social media
• World Wide Web
• Personal computers
• Powered machines
• Steam engine
• Mining
Experience Age
Industrial Age
Information Age
Agricultural Age
• Hand tools
animals
• Domesticated
• Settled farming
These two crises have severely disrupted supply chains and triggered inflation – with no end in sight. This challenging economic environment has accelerated DX. It’s forced some businesses to speed up the introduction of e-commerce platforms and make further investments in digital marketing. Savvier businesses started their DX journey some time ago, and already have a reliable data architecture and DX culture in place. As a result, it’s been easier for them to use artificial intelligence and machine learning to absorb shocks and thrive in unpredictable times.
Ultimately, a good DX strategy is about creating value and changing the culture. DX in the Experience Age can therefore be defined as follows:
- The iterative application of new or emerging IT capabilities to improve operating efficiency or commercial effectiveness and thereby create value.
- A cultural change that requires us to continuously challenge the status quo to leverage new capabilities.
DX accelerated
Download
the white paper
DX is complex and needs to be planned carefully. Our white paper, Digital transformation: Realizing the potential, contains eight key takeaways, including how to estimate the benefits of DX, how to ensure value creation, how to stay on top of cybersecurity risks, and how to identify and use business-critical data sources. For more information, don’t hesitate to reach out to our experts!
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Corporate website
©2023 Eight International
Related articles
READ MORE
Crystal clear?
Looking at business
through an ESG lens
READ MORE
What’s trending in M&A
Authors
Download
the white paper
DX is complex and needs to be planned carefully. Our white paper, Digital transformation: Realizing the potential, contains eight key takeaways, including how to estimate the benefits of DX, how to ensure value creation, how to stay on top of cybersecurity risks, and how to identify and use business-critical data sources. For more information, don’t hesitate to reach out to our experts!
But not everyone realizes that DX is increasingly associated with a paradigm shift that’s taking us away from the so-called Information Age and into the Experience Age. If the Information Age was all about creating, capturing, and processing information, the Experience Age is about being connected. It’s about how our immersive experiences dictate what, where, and how we consume information.
We are, of course, more connected than ever. Forecasts suggest that by 2025 there will be more than 75 billion devices connected to the Internet of Things.
The benefits are clear: connection dramatically improves communication and collaboration. But it also brings more cybersecurity risks. And global crises – the pandemic and the war in Ukraine are good examples – are demanding much more agility from organizations and businesses to innovate and respond to disruption.
These two crises have severely disrupted supply chains and triggered inflation – with no end in sight. This challenging economic environment has accelerated DX. It’s forced some businesses to speed up the introduction of e-commerce platforms and make further investments in digital marketing. Savvier businesses started their DX journey some time ago, and already have a reliable data architecture and DX culture in place. As a result, it’s been easier for them to use artificial intelligence and machine learning to absorb shocks and thrive in unpredictable times.
Ultimately, a good DX strategy is about creating value and changing the culture. DX in the Experience Age can therefore be defined as follows:
- The iterative application of new or emerging IT capabilities to improve operating efficiency or commercial effectiveness and thereby create value.
- A cultural change that requires us to continuously challenge the status quo to leverage new capabilities.
DX accelerated
We’re all familiar with the concept of digital transformation (DX). Specifically, most of us are aware that businesses have had to digitalize their operations and processes, and that it’s an ongoing process. That’s because the rapid pace of technological advancement is constantly creating new industries and profoundly altering existing ones – disrupting business models and changing customer expectations along the way.
Global value creation stories
eight insights
Digital transformation in the Experience Age