Overall, 51% of our survey participants said each business function has its own digital strategy, and another 7% said they have no digital strategy at all. Thus, what one might consider to be a state of digital anarchy reigns in 58% of companies. On a more comforting note, another 41% said one digital strategy guides all the firm’s digital initiatives that relate to how the firm connects with customers.
While no industry stands head and shoulders above all others in having one all encompassing digital strategy, three are better than the others:
- High tech (48% of respondents have one overarching digital strategy)
- Industrial manufacturing (47%)
- Banking and financial services (46%)
Industries least likely to have one overarching digital strategy are media and entertainment (only 26%), consumer packaged goods (30%), and energy (32%). That only about one quarter of media and entertainment firms have an overarching digital strategy is surprising given how much digital technology is forcing them to rethink their business.
How are Digital Initiatives Organized? It Varies by Industry
Overall, 50% of respondents have centralized digital activities in a unit in charge of digital (not in IT); 24% of respondents have centralized digital activities in one business function (other than the IT function); 23% have decentralized digital initiatives within business functions; and 3% said “other”.
Having a unit outside of IT responsible for all digital initiatives is more likely to be found in media and entertainment (63%), utilities (54%) and industrial manufacturing (54%). That structure is least likely to be found in the travel-related (46%), telecom (47%), and high tech (47%) industries.