The Digital Transformation: Staying Competitive

Today´s information technologies accelerate the speed at which enterprises make decisions, process information, and collaborate to solve problems, but do they provide a competitive advantage? Only if the organization transforms how it does business--using the same old approaches with new software aren´t sufficient. The pace of collaboration, problem solving, innovation, and value creation has been increasing as new enabling tools emerge, resulting in a cycle in which innovation leads to new inventions. For example, the development of knowledge bases presented an innovative way to collaborate, which in turn lead to inventions in many fields. Some might assume that this process creates an advantage, but in reality, almost everyone else is developing these tools at the same time. New capabilities are evolving in the context of an ecosystem of competitors, all of whom are trying to do the same thing. The key is to leverage new tools and approaches faster than others in your industry, creating differentiated value for the customer.