What's needed for digital transformation

EMBARKING on digital transformation is like asking the pilot of a small biplane to fly a Dreamliner. While the principles of operating a plane still apply, new knowledge is required and different checks need to be made before the jetliner can be flown without issue.

Companies are struggling with digital transformation in the same way, trying to go straight to the cockpit of the jetliner, without the necessary checks and knowledge in place first. On the other side, they need to be flying the Dreamliner and embarking on their digital transformation journey as soon as possible.

The impact of the digital revolution on business is beyond anything we have ever seen or imagined: many organisations are not ready for its impact, and will likely fail as a result. A study from the John M Olin School of Business at Washington …