DX Law #1: It's About Business Models, Not Just Business Processes
Digital Transformation is about reinventing and innovating business models, not just optimizing existing business processes.
Solely optimizing existing business processes is a "paving the cow path" mindset, where organizations simply apply new digital technologies to replace existing human-intensive operational processes, without taking into full consideration where and how new sources of customer, product, and operational value can be created. And while "paving the cow path" can yield marginal improvements in your business model (a Horizon 1 effect that we will discuss later in the chapter), marginal improvements won't win the day from a business model reinvention and digital transformation perspective.
Digital Transformation is about creating and leveraging new digital assets (data, analytics, and insights or propensities about customers, products, and operations) to reinvent...
