U.S.-based technology company, Riverbed, has revealed in its Digital Performance Global Survey 2018 how business leaders across the world are feeling about their company’s digital performance, with most agreeing that although acting on their digital strategies is critical to their business, a number of challenges are preventing them from moving forward.
The research was conducted through an online survey of 1,000 decision makers at companies with $500 million or more in revenue: 200 across the U.S., and 100 each in Australia, Brazil, China, France, Germany, India, Singapore and the UK.
Nearly all respondents agreed that the delivery of digital services and apps is a critical component to the future of their business, but 80% say that these services and apps are failing at least a few times each month, with nearly one in four of these experiencing failures several times a week.
Business leaders are well aware of the impact these failures can and are having. The consequences include loss of sales and revenue, delayed product launches, loss of customers, loss of brand loyalty and loss of employee productivity.
Major barriers—including budget constraints, legacy networks and a lack of visibility—are said to be holding companies back from delivering the performance and customer experience required in today’s digital world. Challenges include an overly complex or rigid legacy IT infrastructure, a lack of available or appropriately-skilled personnel, and a lack of buy-in from leaders on prioritizing digital initiatives.
Looking ahead and a significant number of decision makers identified cloud solutions and emerging technologies as key drivers of digital experience. They would like to see their company invest in emerging technologies, including data analytics (60%), the Internet of Things (59%), blockchain technology (48%), machine learning (47%), artificial intelligence (47%), virtual reality (36%) and 5G (21%).
“This survey underscores the tremendous opportunity that maximizing digital performance can have on the user experience and bottom line, while simultaneously highlighting the real challenges companies face today,” said Subbu Iyer, CMO of Riverbed Technology. “Those who hesitate to embrace digital strategies and processes will quickly fall by the wayside, and those who drive digital performance will see significant business outcomes.”
Many companies are taking action. The key areas business decision makers see themselves making investments in the next 12 months include modernizing networks and infrastructure to drive greater agility, improving their ability to better monitor and manage the end user’s digital experience, improving service desk capabilities and accelerating the development of applications.