The 2020 pandemic forced a dramatic acceleration in the digital transformation (DTX) of business — advancing the overall timeline for DTX of the business world more than five years in a matter of months in early 2020. But the rapid shift to remote and decentralized workplace models also exposed major gaps in digitization — as well as major remaining opportunities for digitization.
According to Forrester, less than 0.5% of all data is ever analyzed and used — and a typical Fortune 1000 company could see $65 million in additional net income if it could boost data use by just 10%. The problem today isn’t one of data collection — it’s one of data integration.
More specifically, the opportunity lies in automating the process of collecting, integrating, and using all that data to draw actionable insights. McKinsey estimates that across all occupations in the U.S., workers spend more than one-third of their time collecting and synthesizing the data and information they need.