Learn how Global 2000 companies are using 'digital five forces' to improve their business and relationship with customers. The TCS Global Trend Study 2014 [ http://on.tcs.com/stateofdigital ] surveyed over 800 corporations about their digital strategies, investment and future plans.
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The Road to Reimagination: The State and High Stakes of Digital Initiatives
1. THE ROAD TO
REIMAGINATION
TCS Global
Trend Study
2014
July 2014
The State and High Stakes
of Digital Initiatives
tcs.com/stateofdigital
2. The study is based primarily on an extensive
online survey of 820 executives in 13 global
industries across 10 countries in four regions
of North America, Europe, Latin America and
Asia-Pacific and, in-depth interviews with
nine executives who are leading (or who led)
their companies’digital initiatives.
Mean revenue
820Companies
13Industries
4Regions
$26bn9 Key
Findings
TCS Global
Trend Study
2014
tcs.com/stateofdigital
3. of companies for whom
digital initiatives are
important or most
important to business
average per-
company spend
on digital
initiatives
70% $113mnDIGITAL
INITIATIVES
CRUCIAL TO
BUSINESS SUCCESS
1
3
$
TCS Global
Trend Study
2014
tcs.com/stateofdigital
4. DIGITAL
TECHNOLOGIES KEY
TO CONNECTING
WITH CUSTOMERS
2Customer Engagement:
95%
50%
34%
connect through mobile apps for
customers’devices, or via social media
(for continuous monitoring)
connect via digital products/services
customers buy and download
of companies are using digital
platforms to connect with customers
4
TCS Global
Trend Study
2014
tcs.com/stateofdigital
5. 2014
2020THREE INDUSTRIES
MAKING THE
BIGGEST DIGITAL
INVESTMENTS
3
Media, Telecom, and High-Tech most likely to
More than 1/3rd of all companies in
reinvent
business
models
roll out
digital
offerings
boost digital
revenues as % of
total revenues
Banking
Retail Insurance
Utilities
$
5
TCS Global
Trend Study
2014
to Digitally Reimagine business models
tcs.com/stateofdigital
6. Companies investing heavily
in the Digital Five Forces,
with Big Data and analytics
taking the lion’s share
28%
20%
20%
19%
13%
Spend allocation across Digital Five Forces:
Big Data and analytics
Mobile computing and
miniature digital devices
Social media and online
communities
Cloud computing services
Artificial intelligence, machine
learning, and robotics
BIG DATA
CENTRAL TO
DIGITAL
INITIATIVES
4
6
TCS Global
Trend Study
2014
tcs.com/stateofdigital
7. MAJORITY
HAVE ALREADY
LAUNCHED DIGITAL
OFFERINGS
5
of companies
have launched a
digital product
or service
average revenue
they expect to
generate
as a result
59% $234mn
7
TCS Global
Trend Study
2014
tcs.com/stateofdigital
8. 70% 7%
Leaders spend 3X Followers
Revenue growth 10X Followers
average spend
$290 $93
Leaders Followers FollowersLeaders
digital revenue growth
GOING DIGITAL
IS EXPENSIVE
BUT
REWARDING
6
8
TCS Global
Trend Study
2014
mn mn
tcs.com/stateofdigital
9. DIGITAL LEADERS
MORE LIKELY TO
HAVE GAINED
CRITICAL BUSINESS
CAPABILITIES
7 Digital Followers
seek to improve
accuracy in demand
forecasting, and
identify product
improvements,
new offerings
seek to market and
sell their offerings
+
Digital Leaders
$
$
9
TCS Global
Trend Study
2014
tcs.com/stateofdigital
10. of Digital Leaders
have one unified
view of how they
connect with their
customers
of Digital Followers
let individual
business functions
decide their
digital strategy
57% 50% DIGITAL
LEADERS HAVE
A SINGULAR
DIGITAL STRATEGY
8
10
TCS Global
Trend Study
2014
tcs.com/stateofdigital
11. DIGITAL
REIMAGINATION
MUST BEGIN
NOW
9 of the companies
are Digitally
Reimagining
their businesses
right now
intend to do so
before 2020
8%
32%
ONLY
BUT
11
TCS Global
Trend Study
2014
tcs.com/stateofdigital