The Digital Transformation Playbook Rethink Your Business for the Digital Age

Synopsis

Rethink your business for the digital age.

Every business begun before the Internet now faces the same challenge: How to transform to compete in a digital economy?

Globally recognized digital expert David L. Rogers argues that digital transformation is not about updating your technology but about upgrading your strategic thinking. Based on Rogers's decade of research and teaching at Columbia Business School, and his consulting for businesses around the world, The Digital Transformation Playbook shows how pre-digital-era companies can reinvigorate their game plans and capture the new opportunities of the digital world.

Rogers shows why traditional businesses need to rethink their underlying assumptions in five domains of strategy-customers, competition, data, innovation, and value. He reveals how to harness customer networks, platforms, big data, rapid experimentation, and disruptive business models-and how to integrate these into your existing business and organization.

Rogers illustrates every strategy in this playbook with real-world case studies, from Google to GE, from Airbnb to the New York Times. With practical frameworks and nine step-by-step planning tools, he distills the lessons of today's greatest digital innovators and makes them usable for businesses at any stage.

Many books offer advice for digital start-ups, but The Digital Transformation Playbook is the first complete treatment of how legacy businesses can transform to thrive in the digital age. It is an indispensable guide for executives looking to take their firms to the next stage of profitable growth.

Summary

Chapter 1: The Digital Imperative

* Explores the transformative power of digital technology and its impact on businesses.
* Example: Amazon's dominance in e-commerce disrupted traditional retail models and established a new paradigm for customer experience.

Chapter 2: Defining Your Digital Strategy

* Guides businesses in developing a coherent and actionable digital strategy.
* Example: A manufacturing company integrates IoT sensors into its equipment to monitor performance, predict maintenance needs, and optimize production.

Chapter 3: Building a Digital Foundation

* Emphasizes the importance of technology infrastructure, data management, and cybersecurity.
* Example: A financial institution upgrades its IT systems to ensure secure and reliable online banking services for customers.

Chapter 4: Digital Customer Experience

* Focuses on the role of digital touchpoints in improving customer engagement and loyalty.
* Example: A healthcare provider creates a patient portal where patients can view medical records, schedule appointments, and communicate with doctors online.

Chapter 5: Digital Products and Services

* Explores the opportunities and challenges of creating and delivering digital offerings.
* Example: A transportation company launches a ride-sharing app that connects riders with drivers in their area.

Chapter 6: Digital Business Models

* Discusses the potential for digital technology to transform business models and create new revenue streams.
* Example: Netflix's shift from DVD rentals to streaming services revolutionized the entertainment industry.

Chapter 7: Data Analytics and Artificial Intelligence

* Highlights the value of data analytics and AI in unlocking insights, improving decision-making, and predicting customer behavior.
* Example: A retail chain uses AI algorithms to analyze customer purchase patterns and provide personalized product recommendations.

Chapter 8: Digital Workforce

* Addresses the impact of digital technology on the workforce and the need for reskilling and upskilling.
* Example: A technology company invests in training programs to enhance employee skills in data science, cloud computing, and agile development.

Chapter 9: Managing Digital Transformation

* Provides a framework for managing the complexities of digital transformation and overcoming potential challenges.
* Example: A company establishes a dedicated team led by a Chief Digital Officer to oversee digital initiatives and ensure alignment with business strategy.

Chapter 10: Measuring Success

* Emphasizes the importance of defining and measuring key performance indicators (KPIs) to track the progress and impact of digital transformation.
* Example: A manufacturing company uses metrics such as increased production efficiency, reduced downtime, and improved customer satisfaction to evaluate the success of its digital initiatives.