This year, digital transformation solutions are leading the way for business innovation in the B2B distribution and manufacturing market. Transformations are improving efficiency, increasing customer satisfaction, and ultimately increasing profitability. With the implementation of these projects, there is a need to consider all variables that come into play with digitization. In doing so, it’s easy to lose sight of the initial business objectives and strategies. With this in mind, how is the success or failure of a digital transformation being measured?
As more B2B businesses continue to invest in digital solutions, it has become evident that less than 15 percent of companies can accurately calculate the impact or success of their digital transformation projects. Measuring the success or failure of any digital transformation can be a challenging task due to complex data and an abundance of information. Creating clear and concise objectives for such a transformation is important to ensure the program maximizes on the original investment. The success of digital transformation projects can be simplified by using analytics and data depending on business objectives, and here are four key metrics to consider: