Lead Digital Business Transformation in 2024

Foundry’s 2024 State of the CIO Study recently revealed the top priorities for IT leaders with digital transformation initiatives (28%) coming in at first.

Among the other top priorities are to upgrade IT and Data security to reduce corporate risk (27%), strengthen IT and business collaboration (27%), research and implement AI-enabled products (23%), and improve customer experience (22%).

It’s becoming clear that without the right strategy, talent and tools, your business risks falling behind.

Companies that fail to adapt will struggle with inefficiencies, missed opportunities, and diminished competitive edge. Especially in an era where technology is the backbone of business growth, where ensuring your IT initiatives align with organisational goals is critical.

The solution? Embrace the future with a robust digital transformation strategy, supported by expert data, software, and ML engineering. 

Here’s how these disciplines can drive your success.

The CEO Mandate: Lead Digital Transformation

In 2024, leading digital transformation stands as the top priority for IT leaders at 28%. 

Which reveals that CEOs recognise the critical role technology plays in achieving business objectives. But are still struggling to get there.

As Lawrence Bilker, CIO of Lift Solutions Holding, articulates, IT initiatives must deliver better experiences for employees and customers, generate insightful data for smarter decisions, and enhance operations through intelligence. 

This approach aims to create a leaner, more profitable organisation.

Bilker’s team exemplifies this by integrating disparate data sets into a data lakehouse, enhancing automation, analytics, and AI capabilities with high-quality data. This model is what CEOs are increasingly demanding – a seamless fusion of business and IT strategies.

  • Revenue Growth: Gartner reports that 56% of CEOs attribute revenue increases to digital improvements.
  • Adoption Rates: An impressive 89% of companies have either adopted or plan to adopt a digital-first business strategy.
  • Customer Satisfaction: Adobe notes that experience-led companies enjoy 1.6x higher customer satisfaction rates and 1.9x higher average order values.

The Role of Data Engineers

Data is the lifeblood of digital transformation. 

  • Critical Asset: Gartner predicts that 90% of corporate strategies will explicitly mention information as a critical business asset and analytics as a critical competency.
  • Integrated Strategies: 39% of outperforming companies have fully integrated digital-physical strategies, emphasising the role of data in bridging the gap between digital and physical operations.
  • Decision Making: Data analytics drives digital transformation by enabling fast, informed, data-driven decisions, which are crucial for competitiveness and prosperity.

Data engineers are crucial in building the infrastructure necessary for storing, processing, and analysing vast amounts of information. By creating data pipelines and ensuring data integrity, data engineers enable businesses to derive actionable insights that inform strategic decisions.

For instance, by consolidating data into a unified platform, companies can achieve comprehensive analytics and foster AI-driven decision-making. 

This empowers organisations to react swiftly to market changes, optimise operations, and provide personalised customer experiences.

*Need our Data Engineers to turn your raw data into gold? Check out our services.

The Power of Software Engineering

Software engineering is at the forefront of technological advancements, including AI, cloud computing, decentralisation, IoT, open-source development, low-code/no-code platforms, and cybersecurity.

They design and implement solutions that automate processes, improve efficiency, and support new business models. With a focus on scalability and security, software engineers ensure that IT infrastructure can grow with the company and withstand evolving threats.

By leveraging modern development practices, such as DevOps and agile methodologies, software engineers facilitate continuous improvement and rapid innovation. 

This agility allows businesses to respond quickly to customer needs and market trends, maintaining a competitive edge.

Accelerating Transformation with ML Engineering

Machine Learning (ML) engineers bring intelligence, innovation and scale to digital transformation initiatives.

  • Global Market Growth: The global machine learning market is projected to reach £76.28 billion by 2027, reflecting a CAGR of 43.8% from 2020 to 2027.
  • Revenue Generation: Businesses leveraging machine learning engineering can see improved performance, increased revenue streams, and market expansion, with the global market expected to reach £92.44 billion by 2027.

By developing algorithms and models that can learn from data, ML engineers give businesses the ability to automate complex tasks, predict outcomes, and uncover patterns that would be impossible to detect manually.

For example, predictive maintenance models can reduce downtime and extend the lifespan of equipment, while customer segmentation algorithms can enhance marketing strategies. 

The integration of AI and ML into business processes not only improves efficiency but also drives innovation and growth.

*Get ML expertise with our professionals!

Digital transformation is not a distant goal

Rather, it’s an immediate necessity. 

By aligning with expert data, software, and ML engineering, your organisation can lead the charge into a digitally-driven future. Embrace this transformation to unlock new levels of efficiency, innovation, and competitiveness. 

Ready to transform? Partner with us and turn your digital vision into reality.

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