A recent study by WNS revealed the necessity of digital transformation strategies in order to boost business productivity and improve the way people work and socialize.
Indeed, 73% of leaders surveyed stated that expect to complete all of their digital transformation programs within five years, while 97% declared having started to deliver their digital transformation strategies.
On the other hand, 90% of enterprises that did not accelerate digital transformation due to the pandemic lost business. By being slow to adapt to this new digital business landscape, 37% of respondents said these companies lost a great deal of business and 26% said they were struggling to survive.
To increase knowledge around these digital tools some companies have implemented data literacy training as well as launched company-wide data literacy programs. Besides, some are also planning to hire data translators. This is even more vital as only 1% of respondents described their level of data governance maturity as ‘expert’, showing that enterprises need to increase the knowledge and awareness of individual data governance responsibilities.
Moreover, many companies expect their cloud migrations to be completed in the coming years. However, it was reported that the main challenges around digital transformation projects have been created as a result of a lack of executive support for cybersecurity improvements.