A Forrester study reveals that CEOs are more interested in bolt-on digital strategies than full-scale digital transformation. The study, involving 1,254 global business executives, discovered that only 21% of respondents are implementing or upgrading core business systems to improve digital experience. The majority are opting for bolt-on solutions, with 74% investing in front-end interfaces and apps to enhance customer interactions.
The report also found that 73% of firms are investing in customer analytics, but only 42% are using the data to improve online customer experiences. Additionally, only 45% of firms use the data to enhance offline customer experiences.
The study suggests that whilst companies are investing in digital technologies, many are not fully utilising these tools to improve customer experiences. This indicates that businesses are still in the early stages of digital maturity, with many yet to fully embrace digital transformation.
Forrester advises that to achieve digital mastery, firms must invest in business technology (BT) agendas that focus on improving customer experiences. By doing this, companies can better engage with their customers and gain a competitive edge in the increasingly digital marketplace.
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