Enterprise goals – from workforce diversity, financial returns, environmental targets, and general revenue growth – could be achieved more efficiently by leveraging cutting-edge digital technologies. There’s no denying that the two are closely intertwined: digital transformation enables companies to drive improved financial performance along with other key metrics that define an organization’s success.
With that in mind, here are 50 impressive statistics that show the impact of digital transformation in 2024.
Digital Transformation Statistics
Getting strategists, senior leaders, and other stakeholders on the same page is key to smooth digital transformation and implementation. With the digital transformation of different operations and processes comes a significant shift in people’s responsibilities and roles. Therefore, it is paramount to train them and provide them with adequate resources.
- 55% of CIOs plan to increase full-time IT employees to accelerate digital transformation initiatives in 2021, including analytics platforms, security operations, and analytics platforms.
- Implementing digital technologies augments the progress towards company goals by 22%. (Deloitte)
- Businesses that focus on the cultural aspect of change are 5x more likely to attain breakthrough performance than those that overlook it. (BCG)
- 53% of businesses reported that a significant percentage of their workforce would need to revise their capabilities and skills in light of digital progress. (Deloitte)
- 15% of organizations have prioritized digital transformation. (Forrester)
- Companies are expected to increase customer interactions via digital platforms by 40%. (Forrester)
- 76% of managers agree that companies need to radically reengineer the experiences, bringing people and technology together in a more human-centric way. (Accenture)
- 87% of senior executives believe digitalization is an organizational priority. (Gartner)
- 40% of companies have brought digital transformation initiatives to scale. (Gartner)
- 52% of enterprises plan to defer or cut investments due to the COVID-19 pandemic, 9% of them will do that in the digital transformation arena. (PwC)
- 54% of enterprises worldwide said they prioritize digital transformation initiatives regarding technology strategies. (Flexera)
- Businesses move twice as fast on their digital transformation journey once the staff and management collectively understand the importance of their digital path ahead. (Gartner)
- 20% of CEOs named “digital” their primary concern, compared to 17% in 2020 and 15% in 2019. (Gartner)
Technology & Digital Adoption Statistics
Business leaders believe that transforming digitally augments the overall capacity, helping them collaborate, communicate, and deliver services more effectively and efficiently. As a result, companies can better retain customers and keep up with the market trends along with increased profitability and improved bottom line.
- Data-driven companies are 23x likely to acquire more customers. (McKinsey)
- 27% of managers believe that digitization is no more a choice but a matter of business survival. (Digital Marketing Institute)
- 70% of companies stated that “using tech to simplify workflow and manual processes” to reduce costs is the utmost priority in the future. (Open Text)
- 53% of companies are starting their robotic process automation journey. Among these, 78% plan to increase their investment in the upcoming three years. (Global RPA Survey)
- 30% of Business tech buyers are willing to use virtual assistants and chatbots. (Forrester)
- 85% of executives said their company has significantly or somewhat accelerated the implementation and adoption of technologies. (McKinsey)
- 68% of managers say that collaboration between AI and people is vital to the business’s future and success. (Fujitsu)
- 95% of digital leaders have implemented considerable cloud capabilities and continue to leave their competitors behind. (Accenture)
- 40% of all companies won’t survive in the next ten years if they fail to figure out how to change and transform their business to accommodate the latest technologies. (East Innovations)
- Work overload reduces productivity by 68%, making it vital to invest in new technologies that can help boost productivity by eliminating commute times, administrative tasks, and other monotonous jobs. (East Innovations)
- 25% of enterprises worldwide have adopted cloud-distributed systems on a large scale. (KPMG)
- 56% of organizations say that digital improvements and innovations have already increased profits. (Tech Republic)
- Firms that have advanced digital maturity report 45% revenue growth, which is 15% for lower maturity firms. (Deloitte).
- For some companies, the pandemic expedited the development and adoption of digital tools by almost seven years. (McKinsey
Change Management Statistics
With a well-structured change management plan in place, an organization can achieve its maximum potential. Right organizational processes, change management tools, and training can effectively enable companies to embrace digital change, ensuring they achieve their goals and objectives. Here are some statistics that show how change is being managed by corporations and employees from around the world.
- 60-70% of all change initiatives taken up by organizations fail. (Harvard Business Review)
- 73% of employees affected by change experience medium to high levels of stress. (Gartner)
- 62% of employees don’t like leaving their comfort zone. (Forbes)
- 45.6% of employees experienced information overload during a change, and 35.6% faced challenges adapting to digital trends and new technologies. (Gartner)
- 70% of all change programs fail due to employee resistance and lack of support from the management. (McKinsey)
- 69% of successful change programs reported offering training before and after go-live. (Google)
- 75% of change destinations were reached when employees were included in early planning. (McKinsey)
- 49% of change management executives suggested that corporate culture is a barrier to the successful implementation of change initiatives. (IBM)
- Companies are 2.5 times more likely to financially outperform their peers when a good change management practice is in place. (Towers Watson)
- 143% of the expected ROI is achieved from organizations with an effective change management program, while organizations with little or no change management only achieved 35% of expected ROI. (McKinsey)
- 81% of projects implementing effective change management practices meet the allocated budget while the ones that don’t, show a negative fiscal impact. (Prosci)
- Organizations with an excellent change management strategy are 6 times more likely to meet or exceed objectives. (Prosci)
- 93% of companies with excellent change management strategies met/exceeded objectives as compared to 15% of companies with poor change management strategies. (Prosci)
- 48% of organizations have completed at least one change initiative in the last 24 months. (KPMG)
- 27% of change leaders agreed that their leadership is trained to lead change. (Change Synergy with Deakin University)
- 14% of organizational change failures are due to the employee’s inability to cope with technology. (PMI)
- 17% of organizational change failures are due to improperly defined objectives. (PMI)
- 20% of organizational change failures are due to a lack of effective communication. (PMI)
- 32% of organizational change failures are due to poor project management skills. (PMI)
