Companies Investing Heavily in Digital Strategies

By Dennis McCafferty  |  Posted 08-07-2014 Email

Organizations are allocating staggering amounts of money toward digital investments to better reach—and engage—customers, according to a new survey from Tata Consultancy Services. The accompanying report, "The Road to Reimagination: The State and High Stakes of Digital Initiatives," reveals that virtually all organizations are deploying digital platforms in some form. However, it appears that the amount they are willing to invest is separating the "haves" from the "have nots." To elaborate, the Tata report breaks down many results according to companies that are considered "leaders" or "followers" in this space. By giving digital initiatives the short stick, the latter is missing out on revenue-building opportunities, findings show. "The world economy is in the midst of a tectonic shift from the Internet economy to the digital consumer economy," says N. Chandrasekaran, CEO of Tata Consultancy Services. "Five key digital technologies are driving this shift: Big Data and analytics; cloud computing; mobile and pervasive computing; social media; and robotics and artificial intelligence. Individually, these technologies are undoubtedly powerful. But, when combined, they have the potential to fundamentally change how enterprises develop products, market themselves and engage with customers across every major industry." Executives representing more than 800 global corporations participated in the research. For more about the findings, click here.

Dennis McCafferty is a freelance writer for Baseline Magazine.


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