This book focuses on why and how to achieve digital transformation for enterprises and organizations by introducing cases in China. Its purpose is to highlight the importance and improve the understanding for digital transformation and related issues, like human resource allocation, and how to improve the efficiency and success rate in a low-cost and low-risk way. In this way, the cases in the book avoid the most common traps during the digital transformation process, enabling R&D and business personnel, and data practitioners in the organization to figure out the implementation and processes involved, and hence better understand how to work with senior management team when implementing the transition plan. The middle and senior level managers such as company executives, presidents in banks and universities, and officials in government, are also the target audience.
Author(s): Xiaodong Ma
Series: Management for Professionals
Publisher: Springer
Year: 2023
Language: English
Pages: 340
City: Singapore
Preface
Contents
Part I Why Do You Implement Digital Transformation?
1 The Significance of Digital Transformation
1.1 Five Drivers of Digital Transformation
1.1.1 The Demographic Dividend Is Disappearing Fast, and Innovative Development Is Inevitable
1.1.2 Persisting Trade Conflicts Between China and the U.S. Drive Corporate Restructuring
1.1.3 A Higher Market Supply Than Demand Enhances Consumption Upgrading
1.1.4 A Stark Urgency in Ecological Protection Creates the Need for Companies to Transform
1.1.5 New Technologies Foster the Digital Transformation of Companies
1.2 Dividend Beyond Conformism—Biggest Dividend of Digitalization
2 Three Types of Digital Disruptions to Traditional Companies
2.1 Disrupting Traditional Industries from the Strategic Level
2.2 Disrupting Traditional Industries from the Efficiency Level
2.3 Disrupting Traditional Industries from the User Experience
2.4 Two Misconceptions of Digital Transformation
Part II When Do You Implement Digital Transformation?
3 New-Born Species of Digitalization
3.1 Digitalization Accelerates the Industrial Evolution
3.1.1 The Prevalence of Digital Intelligence Speeds Up the Obsolescence of Industries
3.1.2 Leading Industries of Digital Companies
3.2 Digitalization Drives the New Industrial Giants
3.3 Digital Transformation Boosts the Newly Emerging Industrial Companies
4 Two Primary Reasons to Speed Up Digital Transformation
4.1 The “Construction of New Infrastructure” Initiative Has Sped Up the Pace of Digitalization
4.2 The New Coronavirus Pandemic Spurs the Pace of Digitalization for Companies
5 When Do You Implement Digital Transformation?
5.1 Opportunities for Digital Transformation
5.1.1 Price Scissors Theory
5.1.2 Matthew Effect of Digitalization
5.2 Timeline for Reference of Digital Transformation for Each Industry
5.3 Misconceptions of Digital Transformation: If the Cost of Adding Staff Is Low, Then the Solution Is to Add More Staff
Part III What Is Digital Transformation?
6 The Elements of Digital Transformation
6.1 Intelligent Business Operating System—Building Digital Capabilities
6.1.1 The Importance of an Intelligent Business Operating System
6.1.2 Relationship Between the Intelligent Business Operating System and Digital Transformation
6.2 The Barrel Theory Applies to Digital Transformation
6.3 Digital Transformation Is a Systematic Project
6.4 Six Indispensable Elements of Digital Transformation
6.4.1 Data
6.4.2 Applications
6.4.3 Talents
6.4.4 Tools
6.4.5 Experiences
6.4.6 Digital Platforms
Part IV Should You Implement Digital Transformation?
7 Self-assessment of Digital Transformation
7.1 Digital MAX Maturity Model and Assessment
7.1.1 Six Levels of the Digital MAX Maturity Model
7.1.2 Assessment of the Levels of Digital Operations
7.2 Nine Dimensions of the Digital Self-readiness Model
7.2.1 Whether the Leaders Have Any Awareness of the Digital Transformation
7.2.2 Whether the Company Has Any Digital Transformation Talents
7.2.3 Whether the Company Has Any Digital Transformation Culture
7.2.4 Whether the Company Has Prepared Any Digital Transformation Budgets
7.2.5 Whether the Company Has Any Cumulative Capabilities of Digital Transformation
7.2.6 Whether the Company Has Any Implementation Methods for Digital Transformation
7.2.7 Whether the Company Has Any Technical Facilities for Digital Transformation
7.2.8 Whether the Company Has Any Advisory Committee for Digital Transformation
7.3 Four Misconceptions About Digital Transformation
7.3.1 Misconception 1: There Is No Necessity for Digital Transformation as Their Profits Are Currently Ideal
7.3.2 Misconception 2: Digital Transformation Is Only for the Leading Companies
7.3.3 Misconception 3: Leading Companies in the Industry Do Not Require Digital Transformation
7.3.4 Misconception 4: As There Are Few Success Stories of Digital Transformation Among Companies, There Is No Need for Any Digital Transformation
Part V Who Is Responsible for Digital Transformation?
8 The Main Driver of Digital Transformation
8.1 How Does a Board of Directors Drive the Company to Implement Digital Transformation?
8.1.1 Three Challenges of Digital Transformation Facing the Board of Directors
8.1.2 How to Build Digital Competitive Advantages
8.2 How to Build a Leadership Organization for Digital Transformation
8.2.1 Understand the Limitations of Hierarchical Leadership
8.2.2 Build a Digital Leadership Organization
8.3 How Does a CEO Build a Leadership Organization for Digital Transformation
8.3.1 The Role that a CEO Plays in Digital Transformation
8.3.2 How Does a CEO Build a Leadership Organization for Digital Transformation
8.4 How to Hire and Retain Talents
8.5 How to Determine the KPIs for Digital Transformation
8.5.1 Determination of Criteria and Principles of KPIs for Digital Transformation
8.5.2 Quantify the Digital Returns in All Sectors
8.5.3 Build Strategic Capability to Face Future Challenges
8.5.4 Five Noteworthy Points in Determining KPIs
8.6 How to Drive the Advancement of Digital Transformation
8.7 Common Misunderstandings of Digital Transformation from the CEO
Part VI How to Implement Digital Transformation?
9 Failures of Digital Transformation
9.1 Four Types of Non-linear Growth Curves Depicting Failures of Digital Transformation
9.2 Six Types of Failures in Digital Transformation
10 How to Achieve Digital Transformation at Low Costs
10.1 Bigger Resistance for Data-Driven Businesses
10.2 Recipe of Success to Achieve Digital Transformation at Low Costs
10.3 Misconception of Digital Transformation: Experience Cannot Be Reused
11 Six-Map Planning Method of Digital Transformation
11.1 Strategy Map
11.1.1 Sort Out Existing Strategies, Define New Strategic Goals, and Drive United Actions
11.1.2 Summarize the Strategic Objectives and Vision
11.1.3 Allocation of Labor, Financing, and Other Resources to Achieve the Strategic Objectives
11.2 Business Map
11.3 Requirement Map
11.4 Application Map (Data Intelligence)
11.5 Algorithm Map
11.5.1 The Significance of Constructing the Algorithm Map
11.5.2 Review the Algorithmic Models and Construct the Algorithm Map
11.6 Data Map
11.7 Misconceptions of Digital Transformation: Lacking Digital Transformation Solutions Results in Mutual Accusations Between Each Department
12 To Whom Should Digitalization Be Empowered?
12.1 Digital Transformation Empowers the Frontline Employees
12.2 Digital Transformation Empowers the Sales Team
12.2.1 How Does Digital Transformation Empower 2C Sales Revenue?
12.2.2 How Does Digital Transformation Empower a 2B Sales Company?
12.2.3 The Value of Digital Transformation for Sales Revenue
12.3 Digital Transformation Empowers the Operations
12.4 Digital Transformation Empowers the Product Managers
12.5 Digital Transformation Empowers the Finance Team
12.6 Digital Transformation Empowers the Operations Team
12.7 Digital Transformation Empowers the Ecosystem
13 How Does a CDO Execute Digital Transformation?
13.1 The First 200 Days of Digital Transformation
13.1.1 Devise a Comprehensive Execution Plan for the First 200 Days
13.1.2 Determine the Goal-Setting Outcomes of Each Phase
13.1.3 Execute a 200-Day Plan
13.1.4 Assess the Effectiveness of the Execution of the 200-Day Plan
13.2 The Key Capability of a CDO Is Communication
13.2.1 Two Key Areas for a CDO to Strengthen His Communication Capability
13.2.2 Understand His Skill Deficiencies and Reinforce the Construction of the Team
13.3 How Does a CDO Lead His Team?
13.4 How Does a CDO Purchase Appropriate Digital Platforms and Tools?
13.5 How Does a CDO Manage the Quality of Data?
13.5.1 Standardize Indicators and Develop Quality Accountability
13.5.2 Build a Data Analytics Model and Devise Improvement Plans for the Quality of Data
13.5.3 Estimate the Cost of Data Quality and Return on Investment
13.6 How Does a CDO Review the Algorithms?
13.6.1 Procedures in Reviewing the Algorithms
13.6.2 How Does a CDO Drive Algorithmic Business Growth?
13.6.3 Precautions in Driving Algorithmic Business Growth
14 How Does a CTO/CIO Control Digital Transformation?
14.1 Requirements of Digital Transformation for a CTO/CIO
14.1.1 Self-improvement
14.1.2 Countermeasures
14.2 How Does a CTO/CIO Select the Models?
14.2.1 IT Provides Infrastructure Support for the Construction of a Data Platform
14.2.2 DT Provides Technical Architecture Support for the Construction of a Data Platform
14.2.3 Issues to Be Noted While Selecting a Data Platform
14.2.4 Recommendations for a CTO/CIO in the Selection of a Data Platform
14.2.5 Examples of the Selection of a Data Platform
14.2.6 Technical Score Sheet for Data Platform Suppliers
14.3 How Does a CTO/CIO Govern the Data?
14.3.1 Procedures of Data Governance
14.3.2 Standardized Construction of Data Governance
14.4 How Does a CTO/CIO Organize and Form a Data Team?
14.4.1 The Formation of Members in a Data Team
14.4.2 The Working Approach of the Data Team
14.5 Common Decision-Making Mistakes of a CTO/CIO on Digital Transformation
14.5.1 The Formation of an IT Vicious Circle
14.5.2 Indistinct Positioning of Roles in the Technical Department
14.5.3 Huge Technological Investment But No Apparent Business Value
15 Insights from Alibaba’s Digital Transformation
15.1 Data Use and Digital Advancement Process of Taobao
15.1.1 Five Phases of Taobao’s Data Use
15.1.2 Six Phases of Alibaba’s Digital Advancement
15.2 Learning References from Alibaba’s Digital Transformation
15.2.1 The Evolution of Technical Architecture
15.2.2 The Evolution of Organizational Structure
15.2.3 Business Innovation Models
15.2.4 Manifestation of Technical Value
15.2.5 Reasonable Allocation of Talents
15.2.6 The Evolution of Data Culture
Part VII Critical Tools of Digital Transformation—Data Platform
16 The Development Phases of a Data Platform
16.1 Strategic Significance of a Data Platform
16.2 How to Define a Data Platform?
16.2.1 Multi-dimensional Interpretation of a Data Platform
16.2.2 Nine Basic Capabilities of a Data Platform
16.2.3 Three Types of Applications of a Data Platform
16.2.4 Confusion of a Data Platform—Fake Digital Platform, Imitated Digital Platform, and Enclosed Digital Platform
16.3 Ten Misconceptions About the Data Platform
16.4 Recommendations for the Construction of a Data Platform
16.5 Common Failures in the Construction of a Data Platform
17 Interpretation of the Role of a Data Platform
17.1 A Data Platform from the Perspective of a Managing Director
17.2 A Data Platform from the Perspective of a CEO
17.3 A Data Platform from the Perspective of a CTO/CIO
17.4 A Data Platform from the Perspective of an IT Architect
17.5 A Data Platform from the Perspective of a Data Analyst
18 Five Elements of a Data Platform
18.1 Data
18.1.1 Building a Data Asset Management System
18.1.2 Constructing a Data Quality System
18.2 Business
18.3 Algorithm
18.4 Application
18.4.1 The Effects of Digital Applications
18.4.2 Constructing a Digital Application System
18.5 Organization
18.5.1 Unlocking the Construction Approach of an Agile Organization
18.5.2 Equipping Digital Professionals
19 Implementation Path of a Data Platform
19.1 Design Concept of a Data Platform
19.1.1 Three Key Factors in the Construction of a Data Platform
19.1.2 Planning and Design Concepts of a Data Platform
19.2 Building the Data Organization Capability
19.3 Comparison of Data Construction
19.3.1 Traditional Integrated Data Construction Approach
19.3.2 The Data Construction Approach of a New Data Platform
19.4 Principles and Concepts in the Construction of a Data Platform
19.4.1 Traditional Principles and Concepts in Constructing a Data Platform—“Construct, Govern and Apply”
19.4.2 New Principles and Concepts in Constructing a Data Platform—“Apply, Govern and Construct”
19.5 Pitfalls of a Data Platform
Part VIII Case Studies of Digital Transformation
20 Marketing Cloud Intelligence Helps New Retail Companies Achieve Transformation
20.1 Project Background
20.2 Analysis of Pain Points
20.3 Solutions
20.4 Final Results
21 Building a Marketing Intelligence System for New Retail Companies
21.1 Project Background
21.2 Analysis of Pain Points
21.3 Solutions
21.4 Final Results
22 A Renowned Retail Company Creates an Industrial Internet Platform
22.1 Project Background
22.2 Analysis of Pain Points
22.3 Solutions
22.4 Final Results
23 A University Builds a Digital Campus
23.1 Project Background
23.2 Analysis of Pain Points
23.3 Solutions
23.4 Final Results
24 An Urban Merchant Bank Builds a Digital Bank
24.1 Project Background
24.2 Analysis of Pain Points
24.3 Solutions
24.4 Final Results
Architectural Diagrams of Digital Transformation Solutions for Nine Major Companies
