The Digital IQ of your customers may be decreasing all the time. In a time when digital transformation is the focus of many technology discussions, keeping pace with new developments and accompanying risks may mean that some of your customers are slipping behind in terms of having a complete understanding of the digital realm.
There’s no objective measure of any company’s Digital IQ. It simply measures a company’s self-assessment of preparedness in the current environment and expected future developments. It’s a good measure of how your customers’ IT professionals are feeling about their ability to keep pace with new technology and remain competitive in their industries.
The idea of a Digital IQ comes from PwC, which in 2007 decided to reach out to companies to ask how prepared they felt related to technological developments. As the digital aspect of IT departments’ responsibilities kept growing, their Digital IQs, as a whole, declined.
In 2014, 67 percent of a total of 1,393 company executives responded that their level of preparedness was “strong.” In 2015, 66 percent of executives designated their preparedness as strong, and by 2016, only 52 percent of executives believed their organizations demonstrated a strong level of preparedness. It’s not that these organizations are falling behind, but it does appear their commitment to digital education and integration standards is not enough to help them maintain pace with the industry.
The change reflects a struggle to keep up with ever-changing technology and advancements related to digital transformation. Technologies are combining and advancing at rates that IT professionals cannot match with implementation.
Executives at the biggest enterprises are recognizing the need to close the gap between the Digital IQ and the ongoing digital transformation. Every respondent to the survey worked for a company with revenues of at least $500 million. 38 percent worked for enterprises that had a revenue of between $500 million and $1 billion, and 62 percent had more than $1 billion in revenue.
The results of the survey and the shrinking of Digital IQ as digital transformations takes center stage state may indicate a need for changing the focus of IT teams and the possibility of managed services. The need to master a particular technology may make way for prioritizing the customer experience. The quickly-changing landscape of digital technology means that mastering one technological development is less helpful for Digital IQ than focusing on the customer experience and the interactions between representatives of the company and the customers they serve.
Some companies may soon see a top leadership team that consists of the three main drivers of the organization: the CEO, the CIO and the Chief Experience Officer, or CXO. These three executives will ensure that customers have the ideal customer experience through superior technology and productivity.
If you’d like to know more about improving Digital IQ and keeping your customers apace, talk with our consultants at eXemplify. While the development of new technology is moving quickly, we can help you make priorities that serve to improve both your Digital IQ and that of your customers.