The ‘born digital’ companies, have a digital strategy pretty much the equivalent of their business strategy. On the other hand, the traditional company needs to make a deliberate effort to include digital capabilities and outcomes into their business strategy.
For the traditional business, Information Technology has thus far automated processes that support the making of traditional physical products and services. Digital strategy though, is lot beyond digitizing the products and services or relating and transacting with customers over digital channels. That’s table stakes .. keeping up with times.
Rather, it is the deliberate strategy to leverage data, digital technologies (social, mobile, analytics, cloud, IOT being the most obvious ones and the more forward looking ones such as robotics, Artificial Intelligence), in addition to digital channels, software enabling your products and services, all of this with demonstrable value added to your customers.
A sound digital strategy points out how you intend to leverage data and digital technology to innovate on new business models and secure new revenues in the future.