AI and Data Analytics are Reshaping Business Models

 

  • 80% of digital transformation is now being driven by the need to meet customer expectations and 47% believe this presents an opportunity to ‘reinvent’ their business
  • 57% of organisations are rethinking their business models as a result of new technology such as AI, APIs and data analytics
  • Two-thirds (65%) of survey decision makers say they don’t have the skills to service these new models

Nimbus Ninety, the UK’s independent research community for disruptive business and leading cloud solutions and hybrid IT services provider, Ensono, today reveal that more than half of companies are rethinking their business models due to advances in technology from automation to data analytics and artificial intelligence, and the need to meet customer expectations is driving this change.

The overwhelming driver of digital transformation is the need to meet customer expectations. 80% of the 250 senior UK business decision makers surveyed said this was why their organisation needs to undertake a digital transformation strategy. This year’s survey also highlighted a new desire to ‘reinvent’ business models and 47% cited this as a key reason, up from 6% last year. Reducing cost is no longer a factor; only 18% stated this as a reason.

[easy-tweet tweet=”43% of companies view keeping pace with technology change as their most significant challenge” hashtags=”NewTechnology,AI”]

While new technologies are felt to be fundamentally changing revenue models and operational structures, the report also found 43% view keeping pace with technology change as their most significant business challenge for the year ahead. This is reflected in the spending priorities for 2017, which focused on infrastructure and processes to support the implementation of new applications. Spend on the cloud (44%), infrastructure (43%) and agile transformation (35%) were in the top five priorities, helping companies to establish a more agile technology foundation so their businesses can implement new services and enable customer-focussed teams to better respond to customer needs.

Simon Ratcliffe, Principal Consultant, Ensono commented: “Companies that address their technology infrastructure – be it cloud, legacy or the connections between the various elements – can adopt new disruptive technologies and build momentum. As this research demonstrates, companies now understand the business value of improving customer experience. The next step on the journey is to execute these new business models, and for companies to find ways to find the skills needed to do this.”

The report also highlighted this need for new skills in digital transformation. While 39% rely on in-house skills for the broader set needed for transformation, only 35% believe their organisation has the right skills in place. 41% said they are working with a solutions vendor and more than a third are working with a consultancy or design agency to help plug gaps in skills.

To download the full report, please visit: https://www.ensono.com/downloads/uk/digital-trends-2017

+ posts

Marketing Manager for Compare the Cloud

Unlocking Cloud Secrets and How to Stay Ahead in Tech with James Moore

Newsletter

Related articles

Driving the Future of Connectivity with Data Centres

As an astonishing matter of fact, there are 5.3 billion people...

Willow’s Breakthroughs in Quantum Stability

The Start of a New Era Have you heard the...

Cloud Computing Demands Robust Security Solutions

Modern organisations are increasingly reliant on cloud computing to...

Unlocking the future of manufacturing; AIOps network optimisation

Global manufacturing activity has failed to show signs of...

Why is the hybrid cloud the future of computing?

Have you ever wondered how companies can benefit from...