The Apigee Institute, a research and strategy organization dedicated to helping global 2000 companies extend their leadership in today's app economy, released the results of its Three Keys to Digital Transformation research, a survey of over 300 executives in companies with over $500M in annual revenue late last year.
In announcing the results of the research, Bryan Kirschner, Director of the Apigee Institute, said, “As mobile technology and data analytics completely reshape the business landscape, building a truly digital business DNA is an imperative for survival in today’s competitive app economy. Many companies are seeking CDOs to lead this enterprise-wide transformation. In fact, our research reveals that 83 percent of top digitally performing companies have an explicitly and formally appointed digital leader. As the role evolves, this study offers insights into the traits and habits that are the most likely indicators of success. Only by finding the right kind of digital leader can companies turn ‘digital transformation’ from theory into reality.”
Apigee outlined seven habits its research results suggest an effective CDO should exhibit. These habits were determined based on analyzing the traits that correlated to both market success and to perceived internal success at digital transformation.
- Earn company wide commitment for digital transformation.
- Develop a digital strategy mission statement that can serve as a guiding light for the whole company.
- Embrace data-based experimentation, and be willing to adapt quickly and make decisions iteratively.
- Connect with experts, and turn to the professional community, industry and academia to build a strong network of innovators and experts across domains.
- Promote digital transformation across departments and functions.
- Speak multiple business languages. Apigee suggests that CDOs should be “fluent in IT, marketing, strategy and finance in order to create the organizational alignment that is necessary to deliver digital experiences to customers, partners and employees.
- Strive for tangible goals, such as a new revenue stream, higher efficiency or faster time to market.
The Apigee research also found that being tech savvy, a risk taker and having intellectual curiosity do not necessarily correlate to the highest level of success as a digital transformation leader, suggesting that candidates who are visionary, persuasive, adaptable and have a strong network have better opportunities for CDO jobs.
What do you think? Do you agree with the findings of the Apigee research? Would you add or delete any habits of effective CDOs, and do you agree with Apigee’s view of the profile of new CDOs that will lead digital transformations?