Digital transformation marks a radical rethinking of how an organization uses technology, people and processes to radically change business performance, says George Westerman, principal research scientist with the MIT Sloan Initiative on the Digital Economy.
A new video series from MIT Sloan Management Review and Deloitte Insights follows the creation of an aviation part as it moves along the “digital thread,” creating a growing knowledge base of data and feedback as it evolves from design to final testing.
Digital technologies, and digitalization, in general, are completely changing the face of business. Embracing digital transformation is the only way to adapt to today’s digital era and transform your business to stay ahead of the competition. One of the vital contributors to digital transformation, along with a few other factors, is innovation management.
“It is not the strongest of the species that survives, nor the most intelligent that survives; it is the one that is the most adaptable to change.”