Digital IQ is an assessment of how well companies understand the value of technology and weave it into the fabric of their organization. Growing your Digital IQ entails more than merely adopting the latest tools or having a large IT budget—it is about integrating technology into the way a company plans, innovates, measures results, interacts with customers, and ultimately creates value.
Businesses must raise their Digital IQ now, or fall further behind
As a result of our research, we have identified seven dimensions that comprise an organization's Digital IQ: four technology components and three process components.
Mobility. The firm's ability to provide mobile solutions to employees and customers, and "bake" mobility into the core processes of the organization.
Social media. How well a company leverages social networks to inform all aspects of its operations.
Cloud computing. The extent to which firms use cloud computing to make their businesses more flexible, adaptive and competitive.
Business intelligence. How broadly executives think about the types of data sources—both internal and external—used to make critical decisions and set strategies.
Strategic planning. This entails not only setting a corporate strategy that is well-communicated across the enterprise, but ensuring that IT is front and center.
Mobilization. A critical and often missed step whereby executives set out a roadmap and align the resources required to execute the corporate strategy.
Roadmap execution. The ability to not only deliver products and projects on time, on budget and to scope, but to ensure that the end result—even during times of dynamic change—creates overall value for the business.
56% of respondents say they will be investing more in the coming year to collect customer data.
45% say they will invest more to measure operational performance.
Chris Curran a Principal at PwC who works closely with clients on many of their most fundamental IT challenges. Chris co-leads the advisory practice’s investments in new product offerings and technology innovation.
Chris spearheads PwC’s “Digital IQ Study,” in which 730 C-level business and technology executives express their beliefs about IT’s role in economic competition.
A sought-after speaker and thought leader, Chris regularly contributes to a variety of industry journals, including the CIO Leadership Forum, CIO Insight, Investor’s Business Daily, Baseline, InformationWeek, and Insurance and Technology. In addition, he is an active sponsor of the Center for Information Systems Research (CISR) at the Massachusetts Institute of Technology (MIT) and serves on the MIS Quarterly Executive Advisory Board.
Dr. John J. Sviokla is Principal and Innovation Leader at PwC. He also serves on PwC’s investment and innovation committee. Dr. Sviokla was previously the vice chairman of Diamond Management & Technology Consultants and served as the firm’s global managing director of innovation and research.
As a knowledge leader in strategy and marketing, Dr. Sviokla's most recent research initiatives included the Diamond studies Business Design 2010 (with Paul Blase & Stacy Sachen), Diamond Digital IQ (with Chris Curran & Caroline Calkins), and a recession study entitled Don’t Waste a Crisis: Emerge a Winner by Applying Lessons from the Last Recession (with Paul Blase & Anand Rao).
Prior to joining Diamond, Dr. Sviokla was a professor at Harvard Business School for 12 years. In this capacity, he authored more than 100 articles, case studies, videos, and teleseminars, along with editing numerous books. His seminal articles in the Harvard Business Review, "Managing in the Marketspace" and "Exploiting the Virtual Value Chain," were among the first harbingers of the growth of the Internet world.
Dr. Sviokla is a frequent contributor to the Harvard Business Review and serves on the editorial boards of several journals. He has consulted with firms around the world and lectures at many institutions, including Northwestern University, the University of Oxford, and the Massachusetts Institute of Technology. He is an active conference and corporate speaker, lecturing on topics such as innovation, competition, and leadership.
Dr. Sviokla earned his bachelor of arts degree with high honors from Harvard College's Department of Visual and Environmental Studies. At Harvard Business School, he earned an MBA with distinction and a doctor of business administration with a major in management information systems.
4th Annual Digital IQ Survey
The 4th Annual Digital IQ Survey includes respondents from nearly 500 US companies about the current state of their technology-related activities and plans for the future
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