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Analyst Report

Lifecycle Insights: Digital transformation offers overwhelming ROI

Reading time: 30 minutes
As today’s products become more complex, so do the processes and organizations required to support their development. Customers demand smart and connected products, regions keep implementing more regulations and industry disruption is constant. This is the reality across industries, and for everyone ranging from startups to large enterprises.

The answer to today’s complexity challenges: digital transformation. But where do you start, who does it affect, and is it worth it?

Read this exclusive benchmark report by Lifecycle Insights to learn more.

Drivers of digital transformation

What drives the need for digital transformation? There are many factors that require organizations to invest in digital transformation initiatives. This benchmark report touches on the issues that are inspiring change in development processes. These issues include:

  • Demand for smart, connected products

  • Eco-friendly requirements, regulations and sustainability incentives

  • Disruption of product development norms

Who wins with digital transformation?

Change doesn’t automatically translate to success. Within The ROI of Digital Transformation, Lifecycle Insights analyzes its tangible benefits. The respondents surveyed for this report were split into groups to reveal best practices and the relative performance of companies and investment strategies when compared against their peers. These groups are:

  • Least progressive

  • Moderately progressive

  • Most progressive

Learn why advanced technology, like the comprehensive digital twin, and greater investment in digital transformation initiatives enables the most progressive companies to meet or exceed performance targets more often than others.

Discover how digital transformation initiatives helps achieve value and manage complexity

Success is dependent on translating digital transformation efforts into actionable tactics to improve different aspects of product or plant development. What specific practices and technologies can companies use to support product design, manufacturing and production, and service and maintenance tasks?