Learn from these digital transformation business cases to help you face DX challenges better.
The Need to Transform is Increasing
No matter what avenue of industry you may be in today, digital transformation lurks behind every corner of your business needs. You have two choices, that is to either adapt or to accept extinction. Of course, you’d rather adapt than go otherwise.
Organizations today face both the pressure of the market demands and the technology advancements. As much as technology advances, the gap in which you need to catch up lengthens. Indeed, there is no better time than today to catch up with the transformation fever.
Challenges are inevitable in any business venture. In fact, according to an Everest group study, more than 70% of DX efforts failed to provide business value. Many factors contribute to these failures. Perhaps not getting everybody’s buy-in, failure of digital adoption, and the indefinite goals of transformation. Everyone has its own story of failure.
But, whichever is the case, you can win out these failures. The key is to learn from them, instead. That is why, in this post, we will be learning from digital transformation business cases.
Digital Transformation Business Cases: Examples to Learn From
Back in the time when there is still no video streaming site, Netflix started out as a pay-per-rental business. The original business began in 1997. Netflix services include DVD sales and rental, and rent-by-mail.
Today, Netflix rules the world’s video content providers. In 2007, the company started to digitally transform by launching its video-on-demand streaming services. This feature back then was made available only to their subscribers. Until today, Netflix rings the global web in providing high-quality video content, next to Youtube, Hulu, and Amazon.
All the more during the pandemic, people are all packed inside their homes binge-watching. As a result, Netflix received an unprecedented growth in monthly users even in time of the pandemic. For example, in the 2nd quarter of 2020, the company had more than 15 million global paid net subscribers, according to Statista 2021.
You may have heard of Adobe in terms of pictures and also with documents. Whichever comes to your mind, this legendary tech giant services since 1982. They aim to provide software solutions to both business and individual users.
Since then, this company uses a licensed-based model. This way, they sell their software by licenses and CDs. Adobe, as you may know, specializes in photo editing, vector editing, and video editing.
However, the company took a great leap of change in 2008. Adobe changes from license-based to cloud-based, which is how the company provides services until today. For instance, Adobe has three subscription-based models running in the digital media today:
- Creative Cloud
- Document Cloud
- Marketing Cloud
This huge leap of transformation welcomes more than triple the company’s stock price. Single digits amazingly increase into double digits. In 2020 alone, the company reached an annual revenue worth $12.87 billion for its 15% year-over-year growth.
Both Adobe and Netflix took the huge leap of an overall culture change. That change welcomes more changes- change in revenues, growth, and business value. Turning digital is truly transforming businesses in unprecedented numbers.