It is estimated that the recent IT failures afflicting BA will cost the company £80 million. That’s the number reported to shareholders by chief executive Willie Walsh as the airline tries to recover from the IT outage which stranded thousands of passengers during the last bank holiday.
Businesses are missing out on the potential benefits of technological developments such as Internet of Things (IoT) and big data because they lack the skills and understanding to develop meaningful projects.
Spending on business analytics designed to support digital transformation will grow 50% every year on its way to becoming a $187 billion industry by 2019.
High street banks will spend $20 billion by 2019 to improve the in-branch banking experience, following the customer experience path largely being defined by Digital Transformation projects.
Business technology will soon be so efficient thanks to digital transformation projects that the practice of using offshore outsourcing purely to reduce labour costs will become “obsolete”.
Research by IDC shows that digital transformation is so pivotal to business success that it has transcended from I.T. challenge to become a cornerstone of the corporate strategy.