Why do 70% of companies fail in digitalisation?
One example of a failed digitalization is the project of the global giant Nike in 2000. They invested about 400 million to upgrade their ERP system. But quality control problems and a tight development timeline led the project to negative results. Due to the failure, the system predicted product demand incorrectly: too many Air Garnett trainers were produced and the Air Jordan line models were in short supply. The system failed to correctly forecast balances and demand, causing the company to lose $100 million in revenue. Additionally, the company faced lawsuits and its stock price dropped 20 percent.
Today, moving to a digitised version of doing business is not just a fashionable trend, but a vital necessity for everyone. A company that doesn't pay attention to digital runs the risk of dropping out of the market altogether.
Digitalisation is a general term used to describe the digital transformation of society and the economy. It is also the transition from analogue technology and the industrial age to an era of knowledge and creativity, characterised by digital technology and business innovation, among other things.
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