Digital Business Era
The Digital Business Era
What Does Digital Business Mean?
A digital business is one in which value creation is based and dependent on the use of digital technologies, from digitally enhancing internal and external processes, to engaging with stakeholders, to new digital ways to attract and retain employees, and to the delivery of new digital products, services, and experiences. For European companies, the most important business outcome from digital investments is revenue growth (Source: IDC WW Digital Sentiment Survey, October 2022 (n=303 EMEA organizations).
From Digitally Transforming to Running a Digital Business
A new era has started. In this digital business era, the focus will be less on transforming the business and more on running a digital business. In the DX era, the focus was mostly on transforming the business, experimenting with technology, and ensuring that technology investments were able to deliver results. In the digital business era, however, the focus is on running a digital business and on innovation and growth. In a digital business, technology and business strategies are intertwined to define new digital business models and drive new revenue streams.
The Digital Business Platform to Support and Deliver Value in the Digital Business Era
IDC defines the Digital Business Platform as a multi-layered enterprise-wide technology architecture, integrating different systems and applications (from different vendors) to enable use cases that ensure business competitiveness and innovation. Three are the main layers of the platform:
- The foundational IT is designed on key underlying tech design principles and tech components including key infrastructure building blocks and applications
- The use cases to build resilience and remain competitive on the market through risk mitigation, cost efficiencies, process and operations improvement
- The use cases to accelerate designed to deliver growth through Digital Innovation, new Business Models, new Products & Services
How to Unlock Value in the Era of Digital Business in EMEA
In this IDC Webcast Giulia Carosella, Erica Spinoni, Angela Vacca and Nathan Budd provides an overview of the new Digital Business Platform highlighting key characteristics and components and illustrating where organizations are positioned in their Digital Business and Platform journey.
6 Criteria That Will Drive Digital Use Case Reprioritization in 2023 in Europe
Amid financial discipline and uncertainties, organizations are looking to criteria to prioritize their digital investments. Download this infographic to check IDC’s prioritization checklist for digital investments.
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