A new survey of more than 200 enterprise business professionals confirms it’s anything but business as usual in 2020, with not just small businesses, but all businesses being affected.
In a May 2020 poll, 91% of respondents across various industries said Covid-19 has had some or a significant impact on their organization’s business continuity, with 44% saying it’s been significant. In relation, 91% said Covid-19 has had some or a significant impact on their organization’s customer experience and customer engagement, with 38% saying the impact has been significant.
Digital Transformation Timelines Change
If they hadn’t been already, businesses are now focused on digital transformation, which includes defining and developing data-driven digital business models. Seventy-nine percent (79%) of respondents said the impact of Covid-19 has accelerated their organization’s digital transformation efforts, with 68% confirming that their use of analytics has increased in 2020 as a direct result of the pandemic.More than one-third (35%) believe cloud applications including cloud analytics can best alleviate the pressures caused by ongoing business changes, with data-centric applications coming in second (18%), followed by apps to measure productivity (15%).
Ventana Research CEO Mark Smith says that many organizations won’t do enough though. “By 2022, after a decade of concerted efforts in digital transformation,” Smith asserts, “one-half of organizations will not have established business continuity as an investment priority and will not be prepared to operate in a future pandemic or crisis, which will lead to increased operational risks.”
To help ensure your organization stays in the successful 50%, get Smith’s and Ventana Research SVP David Menninger’s recommendations in this on-demand webcast. For additional results from MicroStrategy’s Covid-19 impact survey, follow MicroStrategy on Twitter.