You’re the last one to arrive to a networking event. Everybody’s already talking and swapping notes.
You sheepishly walk over to a group who are discussing something in an animated fashion.
As soon as you arrive, everyone turns to look at you. One person asks, “so what results are you seeing from your digital transformation?”
You freeze. You don’t have anything to say. The wheels are in motion, but it’s just taking a lot longer than expected.
STOP. As uncomfortable as that situation might feel, you’re not alone. IDG’s 2018 Digital Business research reveals that only 44% of organizations have fully implemented their digital-first business strategy.
But there are some that are leading the way. Secure identity cloud provider Okta has shared some interesting data on digital adoption by industry from within their network.
It reveals five industries in particular who are trailblazing in the adoption of digital innovation.
Digital adoption by industry
According to Okta, companies are investing in digital security and collaboration tools in a big way. Not only that, but enterprises are using more apps than ever before.
“Our data also shows that organizations across all industries are adopting developer tools, building their own apps and moving to the cloud.” Okta
Their digital adoption by industry data highlights five industries as prioritizing technology adoption.
1. Media and entertainment
Media and entertainment companies have adjusted to the digital demands of modern consumers. Millennials expect quality content services that are convenient and on-demand.
“For the last three years, media and entertainment companies on our network have been climbing the ranks when it comes to the median number of apps used.
“And, 68.7 percent of our customers in media and entertainment are using at least one developer tool, which makes it the second-highest industry taking advantage of those tools.” Frederic Kerrest, Okta
Okta’s data reveals that the biotech / pharma / healthcare industry saw the biggest growth (36%) from 2016 to 2017 in the number of apps used.
Industry regulators have established new rules. This is due to the rising number of data breaches in healthcare, plus the sensitive patient data that is often at stake.
“Faced with new industry standards, clinicians and healthcare institutions have no choice but to arm themselves with advanced technology and security services.” Frederic Kerrest, Okta
3. Finance and banking
Banking and finance came second to healthcare in terms of app growth (33%), according to Okta.
“This rapid adoption of apps and developer tools shows that banking is not what it used to be.” Frederic Kerrest, Okta
Since forty percent of Americans haven’t physically entered a bank or credit union in the last six months, digital growth in this industry is unsurprising.
Online education tools like Lynda.com, Coursera, and Pluralsight have brought education into the digital age. 31% of Okta customers accessed online learning courses in 2017, either for corporate or personal use.
COO of Okta, Frederic Kerrest, says, “with the edtech market expected to reach $1.83 billion by 2020, this is an industry to watch.”
This is an obvious one. The tech industry used the highest number of distinct apps in 2017 at 1,910
Frederic Kerrest says, “technology companies are embracing other technologies to enhance security, speed up (or fully automate) processes and increase employee efficiency.”
Rapid tech innovation brings adoption challenges
So the growth of digital in the business world is exponential. But with new apps, tools, and systems come new challenges.
With the number of apps used by enterprises growing, employees are drowning in digital processes and features. This can actually lead to employee burnout.
Training time: the learning curve
Another issue posed by the digital revolution is the learning curve. It takes time to adopt tools and learn how to use them comfortably and productively.
Traditional training methods are proving to be inadequate for digital adoption. Digital technology is not at the mercy of geography, time zones, or diary management. But traditional training methods are.
Training inefficacy: the forgetting curve
The “forgetting curve” describes the decline of memory retention in time. It shows how information is lost over time when there is no attempt to retain it.
This tends to occur with traditional training methods. When training is completed, trainees return to their usual routine. Then when the time comes for them to put their new training into practise, they struggle to recall it.
Benjamin Doxtdator Retweeted Routledge Education Research
“Novices need guidance. Experts, not so much.
Teachers need professional, contextual knowledge, especially about their students.”
How a Digital Adoption Platform (DAP) is helping enterprises nail their digital transformation
First conceptualized by WalkMe, a Digital Adoption Platform (DAP) is an algorithmic tool that can be applied to any digital system or application.
Using insights, automation, and machine learning, the DAP learns the user’s behavior and provides guidance and tips to them at their time of need. It can be used internally for onboarding employees, or externally to train customers.
Enterprises that apply a DAP to their digital tools overcome all of the above challenges posed by rapid technology implementation. These companies are the future. And that concludes our exploration of digital adoption by industry.