Company
Date Published
Author
Deb Cobb
Word count
1503
Language
English
Hacker News points
None

Summary

Hybrid cloud offers an ideal model for driving digital transformation by allowing businesses to maintain control of operational data while leveraging the public cloud for insights and analytics, and on-premises applications for critical business initiatives. Digital transformation investments are expected to reach $6.8 trillion between 2020 and 2023, with a Compound Annual Growth Rate (CAGR) of 16.5% for 2022-2024. The key elements driving digital transformation adoption include rising marketing outreach investments and changing consumer intelligence landscapes that impact business agility. To succeed in this environment, businesses need to collect, analyze, and incorporate customer data into their operations and processes, while also adapting to the shift to a self-directed customer journey where consumers seek personalized and relevant content. Digital transformation is essential for businesses to innovate, improve business performance, power innovation, deliver insights, and ensure positive business outcomes. The business model shapes digital transformation strategies and vice versa, with new revenue streams emerging through data monetization, subscription-based services, e-commerce, new products and services, optimized distribution channels, personalization and customization, agile operations, and collaborative ecosystems. Hybrid cloud models that incorporate both on-premises infrastructure and cloud-based resources have become the enterprise norm, enabling businesses to design a unique configuration that works for their specific needs.