Enterprises struggling with digital business transformation can most easily pursue digital business by creating a vision for their own industry.
According to Gartner's 2016 CIO Agenda, executives expect that 41 percent of enterprise revenue will come from digital business by 2020, almost double what it was in 2015.
Yet, in 2016 many enterprises have not started a digital business transformation. To take this approach, CIOs who have been put in charge of digital business need to understand what an industry vision for digital business involves.
What does it take to be a digital enterprise? 4 key digital transformation checklist goals, according to Gartner!
Concept: An industry vision seeks fundamental change that will affect many dimensions of the business and operations.
Capabilities: The enterprise needs a new set of capabilities to make the digital business work. These capabilities will require expertise that the enterprise doesn't already have.
Assets: The enterprise needs a different set of assets to execute the business, including people, data and intellectual property (IP).
Research: The new digital business is not static; it will expand into new areas. The enterprise will have to maintain a research program designed to add to the business and will need to experiment continually with new digital business possibilities.
Additional information is available to Gartner clients in the report "Create an Industry Vision for Digital Business." This report is part of the Gartner Special Report "Industry Visions for Digital Business Set the Terms of Competition," a collection of research designed to help CEOs and CIOs redefine what it means to be an industry.