20 Mar 2017
IDC Insights Launches Worldwide Digital Transformation (DX) Strategies Taxonomy
FRAMINGHAM, Mass., March 20, 2017 – International Data Corporation (IDC) today announced the roll-out of the IDC Digital Transformation (DX) Taxonomy across industry verticals represented by 14 Digital Missions, 60 Strategic Priorities, 160 Programs, and over 450 specific Use Cases.
IDC estimates the economic value of DX to be $20 trillion or more than 20% of global GDP.
IDC's DX maturity benchmark of over 1,600 companies indicates that 67% are in the early stages of their transformation as "digital explorers" or "digital players," meaning less than 5% of companies are fully transformed. The full disruptive impact of DX has not yet been realized but is well on its way and is going to fundamentally change business markets and how companies attract, delight, and retain customers.
IDC's DX Taxonomy provides structured guidance on how industry and government verticals are creating and enabling digital transformation success in the digital economy. While the taxonomy is an extensive representation, it is not exhaustive and will evolve over time as technology matures and opportunities present themselves.
The 14 industries represented in this set of taxonomy documents are:
- Capital Markets
- Life Science
- Manufacturing: Asset Oriented Value Chains (AOVC)
- Manufacturing: Brand Oriented Value Chains (BOVC)
- Manufacturing: Engineering Oriented Value Chains (EOVC)
- Manufacturing: Technology Oriented Values Chains (TOVC)
- Oil & Gas
- Smart Cities
IDC's DX taxonomy is a four level model:
- Digital Mission (one per industry). The digital mission is the business organization's overarching aspirational goals and objectives. Each industry has its own unique mission.
- Strategic Priorities (several per digital mission). There are several strategic priorities that describe what organizations expect to accomplish over an extended time period in order to achieve their digital mission.
- Programs (several per strategic priority). Supporting each strategic priority are several programs. Each represents a long-term plan of action to achieve the strategic priorities through a series of use cases.
- Use Cases (several per program). Under each program are a set of use cases. These are discretely funded efforts supporting a program objective. Use cases can be thought of as specific projects employing line of business and IT resources including hardware, software, and IT services. Each use case is organized by the use case name, current situation, business goals and objectives, key technologies used to enable desired business outcomes, and a summary of the results.
For technology buyers, this collective body of expert guidance identifies where and how to craft a winning DX business strategy and execution roadmap.
For technology vendors, these taxonomies provide a fully contextualized understanding of how and where key software, hardware, and IT services enable DX business outcomes and success.
To learn more, click here to visit IDC's Worldwide Digital Transformation (DX) Strategies page.
Learn more about IDC Insights by clicking here: www.idc.com/idcinsights
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG), the world's leading media, data, and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC.