In our 2016 survey, the rate of success was 20 percent in 2014, 26 percent and in 2012, 20 percent. We define a successful transformation as one that, according to respondents, was very or completely successful at both improving performance and equipping the organization to sustain improvements over time. Years of research on transformations has shown that the success rate for these efforts is consistently low: less than 30 percent succeed. Transformations are hard, and digital ones are harder These categories suggest where and how companies can start to improve their chances of successfully making digital changes to their business. These characteristics fall into five categories: leadership, capability building, empowering workers, upgrading tools, and communication. The results from respondents who do report success point to 21 best practices, all of which make a digital transformation more likely to succeed. While our earlier research has found that fewer than one-third of organizational transformations succeed at improving a company’s performance and sustaining those gains, the latest results find that the success rate of digital transformations is even lower. Yet success in these transformations is proving to be elusive.
To adjust for differences in response rates, the data are weighted by the contribution of each respondent’s nation to global GDP. Of them, 1,521 have been part of at least one digital transformation in the past five years at either their current or previous organizations.
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The online survey was in the field from January 16, 2018, to January 26, 2018, and garnered responses from 1,793 participants representing the full range of regions, industries, company sizes, functional specialties, and tenures. In a new McKinsey Global Survey on digital transformations, more than eight in ten respondents say their organizations have undertaken such efforts in the past five years. As digital technologies dramatically reshape industry after industry, many companies are pursuing large-scale change efforts to capture the benefits of these trends or simply to keep up with competitors.