Digital transformation is coming up against a harsh reality, as businesses face a tug-of-war between the need for investment and the desire for results. With 59% of IT decision-makers stating that their digital initiatives are yet to show value, the pressure is on for companies to demonstrate the benefits of digital transformation.
A new study by Couchbase highlights the challenges. It reveals that 92% of digital decision-makers believe their organisation needs to develop new ways to use data more effectively. The study also found that 86% of respondents believe digital projects will fail without significant investment in technology.
Moreover, the study shows that IT leaders are under immense pressure to deliver results. More than half (51%) of respondents said they could lose their jobs if digital transformation efforts do not yield results in the next year.
The study suggests that businesses are having to balance the need for investment in digital transformation with the demand for results. It indicates that this is a major challenge for companies, as they strive to harness the benefits of digital transformation while dealing with the realities of business.
In the end, the study highlights that businesses need to find new ways to use data more effectively, invest significantly in technology, and deliver results quickly to succeed in their digital transformation efforts.