A staggering 70% of digital transformations have failed as per McKinsey. The key reason why enterprises are failing in their digital transformation journey is because there is no standard framework existing in the industry that enterprises can use to transform themselves to digital. There are several books that speak about technologies such as Cloud, Artificial Intelligence and Data Analytics in silos, but none of these provides a holistic view on how enterprises can embark on a digital transformation journey and be successful using a combination of these technologies. FORMULA 4.0 is a methodology that provides a clear guidance for enterprises aspiring to transform their traditional operating model to digital. Enterprises can use this framework as a readymade guide and plan their digital transformation journey.
This book is intended for all chief executives, software managers, and leaders who intend to successfully lead this digital transformation journey. An enterprise can achieve success in digital transformation only of it can: create an IT Platform that will enable them to adopt any new technology seamlessly into existing IT estate; deliver new products and services to the market in shorter durations; make business decisions with IT as an enabler and utilize automation in all its major business and IT processes. Achieving these goals is what defines a digital enterprise — Formula 4.0 is a methodology for enterprises to achieve these goals and become digital. Essentially, there is no framework existing in the market that provides a step-by-step guide to enterprises on how to embark on their successful digital transformation journey. This book enables such transformations. Overall, the Formula 4.0 is an enterprise digital transformation framework that enables organizations to become truly digital.