The Chief Digital Officers are a new breed of executives that can create a digital edge by combining digital information and physical resources in new ways to create value and revenue.
Having a digital edge matters: firms with above their industry average levels of digital revenue outperform their peers. They grow faster. They have higher net margins. They are more capital efficient and deliver more to shareholder equity. They deliver more because leaders think broadly about how digital technology creates value and revenue. They think about how it will combine to create new capability rather than replace old operations. That is the essence of a digital strategy.