Digital Transformation: Why Projects Fail, Potential Best Practices and Successful Initiatives

Abstract

The World Economic Forum predicts that digital transformation initiatives will lead to more than $320 billion of value for the mining and cement industries, a 610 million ton reduction in CO2 emissions, and 1,000 lives saved as worker safety improves. But no one is talking about the fact that most digital transformation initiatives fail before they're fully implemented. The problem isn't isolated either: a recent Gartner study showed that across all market segments, 85% of big data projects fail. How can a company `go digital' safely? This paper will examine the main roadblocks encountered in digital transformation projects: From lack of holistic vision and clear definition of corporate digital strategy, to talent deficits, failure to plan for scalability, and internal resistance to change. We will share some simple ideas that work for our customers, provide information about `ready-to-implement' technologies, and help construct a basic roadmap for implementing digital transformation projects.