The Road To Reimagination: The State and High Stakes of Digital Initiatives!

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Digital, Insurance, Channels, Social, Social Media, Mobility, Study, 2014, Big Data, Analytics, AI,Cloud, TCS, Tata Consultancy Services, Digital Study, Digital Insurance, Digital Strategy

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The Road To Reimagination: The State and High Stakes of Digital Initiatives!

  1. 1. Digitalinitiatives arecrucialtobusinesssuccessthisdecade,accordingtoourrespondents Companiessaytheirdigital initiativesareeitherthemost importantfactorintheirrm’s successorof’major’importance 70% Aselectgroupofcompanies(4%) willspendatleast$1billioneach thisyearondigitalinitiatives,and thesamepercentageplanto spendasmuchin2017 $1bn Companieswillinvestthismuch thisyearindigitalinitiativesthat givethemanonlineconnectionto customersandtheproductsthey selltothem $113mn $ Vastmajorityofcompanies(95%) seedigitaltechnologiesasacriticalwaytoconnecttotheircustomers 50%connectthroughtheirmobile appsforcustomers’devices 34%connectviadigitalproducts/servicesthat customersbuyanddownload 50%connectthroughcontinuous monitoringofsocialmedia Digitalinitiatives=morerevenue Digitalleadersspendthreetimeswhatfollowerswillspendondigitalinitiativesthisyear Leaders $290mn 71% 50% $49bn Followers $93mn 7% 20% $22bn Averagespend Increasedrevenue dueto digitalinitiatives Averagerevenue Averageincrease inrevenue Digitalleadersareahead Companieswiththegreatestsuccessfromtheirdigitalinitiatives putcustomercentricityatthecoreoftheirdigitalstrategy Haveasingularlong-term strategythatputscustomer valueatthecenter Leveragemore technologies Centralizedigital initiatives Integratedigital technologieswith existingsystems Majorityofcompanies havealreadybroughtadigitalproductorservicetomarket ofcompanieshavealreadydoneso 59% $234mninaveragerevenuecurrently fromthesedigitalofferings 75% ofhightechcompanies 74% ofmediacompanies 66% oftelecomcompanies Thebiggestdigitalinvestors Mediaandentertainment,telecom,andhightecharemorelikelytohavenewdigital productsorservices.Whileonly8%ofcompaniessaid‘digitalreimagination’wastheir digitalstrategytoday,32%saiditwouldbebytheendofthedecade Spendondigitalinitiatives Overthenextthreeyears,companiesworldwidewillspendmoreoftheirdigitalbudgets onBigDataandanalyticstechnologytounderstandtheircustomersdigitalhabits BigDataand analytics Socialmedia Mobileand pervasive computing Cloudcomputing Robotics andAI Across13global industries Toknowhowtheyleveragethe DigitalFiveForces Corebusinessmodels Productsandservices Businessprocesses Customersegmentation Channelstomarket Workplaces Toreimaginetheirbusinesses BigData and analytics Mobileand pervasive computing Social media Cloud computing Robotics andAI Wesurveyed 820respondents NA LATAM Europe APAC In4regions oftheworld Ourextensivedataondigitalinitiativesatthesecompaniesprovidednumerousinsightsonstrategies,impacts, investments,andfutureplans.The ndingsbelowarethosethatwebelievearemostimportant. KEYFINDINGS ATCSGlobalTrendStudy-July2014 TheRoadtoReimagination: TheStateandHighStakesofDigitalInitiatives www.tcs.com/stateofdigital #TCSDigital #DigitalReimagination

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