Developing and implementing effective digital transformation strategies is becoming more and more imperative not only for growth but also for survival in many industries. If your organization does not become capable of fully leveraging the opportunities offered by new data technologies in innovative ways, your competitors will. Also, new competitors will emerge with the ability to readily adopt new technologies. Where relevant, this is being largely realized by executives who are making digital transformation strategies a corporate priority. However, to what extent are their approaches helpful or actually detrimental to the progress of their organizations?

Throughout my experience in the energy industry, which is pretty data intensive, I have noticed that the technology-driven transformations can easily be derailed by the same strategies that aim to support them. Some of these pitfalls can be more tragic than others of course but some combination of two or more typically collide to reinforce the natural resistance to change. Here the top four I’ve observed over the years:

As the digital revolution unfolds, leaders are challenged with having to develop and implement transformation strategies while learning from their own mistakes. The importance of dynamically understanding and managing the wholesale cultural and commercial implications of this transformation can not be overstated.