Warren Buffet is reported to have said that digital transformation is a fundamental reality of business today. McKinsey says that 70% of digital transformation projects fail. Both suggest the need to reset expectations about what digital transformation means and what success looks like in the inevitable transition to a more digitally-enabled global economy.
My colleagues at PYMNTS and I have been tracking the shift to digital, worldwide, across 37 distinct activities since March of 2020, when the physical world abruptly shuttered and consumers and businesses were forced to rely on digital methods to go about their day-to-day.