Digital leaders are far more likely than followers to have seen a payoff from their digital investments: new or improved capabilities to rapidly change pricing, products and other key aspects of their business model; more efficient manufacturing, distribution, support, marketing, and other key business functions; better approaches to customer segmentation and channels management; and a more open workplace environment. But a key question remains: Why are leaders better able to do all the above?
We believe one reason is that in all six aspects of the way they do business, leaders value a range of digital technologies – not just one or two. That is, many more leaders than followers attached high importance to Big Data and analytics, mobile, social media, cloud, and AI/robotics in being able to make fundamental changes. (See Exhibit IV-12)
In just about every case, leaders see all five digital forces as critical to making changes in their business models, products and services, processes, and so on. In contrast, followers view only one technology — typically Big Data or social media – as crucial in each case.
Exhibit IV-12: Leaders Leverage All Five Digital Technologies; Followers Typically Embrace Only One