12 Digital Transformation Strategies from GE, Domino’s, Scotiabank

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digital transformation

Lessons learned from three companies that are well along on their digital transformation journeys (hint: learn to fail fast).

The digital revolution is shaking up almost every industry, promising companies huge improvements in operating efficiency through innovations such as big data analysis and the digitization of internal and external processes.

But as companies rush to digitize, they could be missing a vital component of that transition: ensuring they have a workforce that’s digitally adept. If your staff is stuck with an old-world skill set, you can’t hope to succeed in a fast-moving digital age. In fact, your business is probably going to face extinction.

Companies are handling this leadership challenge in various ways. Some are hiring all new people. Others are retraining existing staff. Organizations manage digital transformation differently, but the successes of early adopters are yielding some tried-and-true strategies for getting the whole organization on board and thinking digitally. We spoke to executives at three companies that are well along on their digital transformation journeys to find out what they’ve learned. Here are twelve tactics and strategies that worked.

GE builds digital foundry

General Electric is executing on a sweeping program to transform itself into what CEO Jeffrey Immelt calls a “digital industrial” company.
Although GE’s business is healthy, executives realized years ago that the company was vulnerable to disruption unless it learned to use data for strategic advantage. GE decided to solidify its customer relationships and develop new revenue streams by mining the treasure trove of information generated by its industrial equipment.

Immelt declared that GE needed to become a software and analytics company. Today, software is a $6 billion business for GE and growing, thanks to innovations like sensors in aircraft engines. GE uses data from these sensors to create customized maintenance schedules that save customers money and keep aircraft aloft longer.

To transform its workforce, GE chose to go outside for new talent. It realized that its risk-averse, quality-oriented Six Sigma culture wasn’t compatible with the fail-fast style of Silicon Valley startups. So GE invested $1 billion in a software development center in San Ramon, California, and hired 1,500 Valley vets to drive its digital transformation.

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Samantha Keller

Samantha Keller

Director of Marketing and PR at EnhancedTECH
Samantha Keller (AKA Sam) is a published author, tech-blogger, event-planner and mother of three fabulous humans. Samantha has worked in the IT field for the last fifteen years, intertwining a freelance writing career along with technology sales, events and marketing. She began working for EnhancedTECH ten years ago after earning her Bachelor’s degree from UCLA and attending Fuller Seminary. She is a lover of kickboxing, extra-strong coffee, and Wolfpack football.Her regular blog columns feature upcoming tech trends, cybersecurity tips, and practical solutions geared towards enhancing your business through technology.
Samantha Keller

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