The Road to Reimagination: The State and High Stakes of Digital Initiatives
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Learn how Global 2000 companies are using 'digital five forces' to improve their business and relationship with customers. The TCS Global Trend Study 2014 [ http://on.tcs.com/stateofdigital ] surveyed over 800 corporations about their digital strategies, investment and future plans.
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The Road to Reimagination: The State and High Stakes of Digital Initiatives
- 1. THE ROAD TO REIMAGINATION TCS Global Trend Study 2014 July 2014 The State and High Stakes of Digital Initiatives tcs.com/stateofdigital
- 2. The study is based primarily on an extensive online survey of 820 executives in 13 global industries across 10 countries in four regions of North America, Europe, Latin America and Asia-Pacific and, in-depth interviews with nine executives who are leading (or who led) their companies’digital initiatives. Mean revenue 820Companies 13Industries 4Regions $26bn9 Key Findings TCS Global Trend Study 2014 tcs.com/stateofdigital
- 3. of companies for whom digital initiatives are important or most important to business average per- company spend on digital initiatives 70% $113mnDIGITAL INITIATIVES CRUCIAL TO BUSINESS SUCCESS 1 3 $ TCS Global Trend Study 2014 tcs.com/stateofdigital
- 4. DIGITAL TECHNOLOGIES KEY TO CONNECTING WITH CUSTOMERS 2Customer Engagement: 95% 50% 34% connect through mobile apps for customers’devices, or via social media (for continuous monitoring) connect via digital products/services customers buy and download of companies are using digital platforms to connect with customers 4 TCS Global Trend Study 2014 tcs.com/stateofdigital
- 5. 2014 2020THREE INDUSTRIES MAKING THE BIGGEST DIGITAL INVESTMENTS 3 Media, Telecom, and High-Tech most likely to More than 1/3rd of all companies in reinvent business models roll out digital offerings boost digital revenues as % of total revenues Banking Retail Insurance Utilities $ 5 TCS Global Trend Study 2014 to Digitally Reimagine business models tcs.com/stateofdigital
- 6. Companies investing heavily in the Digital Five Forces, with Big Data and analytics taking the lion’s share 28% 20% 20% 19% 13% Spend allocation across Digital Five Forces: Big Data and analytics Mobile computing and miniature digital devices Social media and online communities Cloud computing services Artificial intelligence, machine learning, and robotics BIG DATA CENTRAL TO DIGITAL INITIATIVES 4 6 TCS Global Trend Study 2014 tcs.com/stateofdigital
- 7. MAJORITY HAVE ALREADY LAUNCHED DIGITAL OFFERINGS 5 of companies have launched a digital product or service average revenue they expect to generate as a result 59% $234mn 7 TCS Global Trend Study 2014 tcs.com/stateofdigital
- 8. 70% 7% Leaders spend 3X Followers Revenue growth 10X Followers average spend $290 $93 Leaders Followers FollowersLeaders digital revenue growth GOING DIGITAL IS EXPENSIVE BUT REWARDING 6 8 TCS Global Trend Study 2014 mn mn tcs.com/stateofdigital
- 9. DIGITAL LEADERS MORE LIKELY TO HAVE GAINED CRITICAL BUSINESS CAPABILITIES 7 Digital Followers seek to improve accuracy in demand forecasting, and identify product improvements, new offerings seek to market and sell their offerings + Digital Leaders $ $ 9 TCS Global Trend Study 2014 tcs.com/stateofdigital
- 10. of Digital Leaders have one unified view of how they connect with their customers of Digital Followers let individual business functions decide their digital strategy 57% 50% DIGITAL LEADERS HAVE A SINGULAR DIGITAL STRATEGY 8 10 TCS Global Trend Study 2014 tcs.com/stateofdigital
- 11. DIGITAL REIMAGINATION MUST BEGIN NOW 9 of the companies are Digitally Reimagining their businesses right now intend to do so before 2020 8% 32% ONLY BUT 11 TCS Global Trend Study 2014 tcs.com/stateofdigital
- 12. 12 Copyright © 2014 Tata Consultancy Services Limited The Road to Reimagination The State and High Stakes of Digital Initiatives #TCSDigital #DigitalReimagination www.tcs.com/stateofdigital Download the TCS Global Trend Study 2014 Join the conversation on Twitter Share this study on Twitter tcs.com/stateofdigital TCS Global Trend Study 2014