Our unique methodology
By developing a diagnostic survey tool aligned with a framework for benchmarking performance excellence and maturity in a given field or discipline, our economists can develop valuable analytical insights and tools for executives. Our economists have created models that assess the benefits from going cashless in cities, the impact of the future of work on business performance, and the ROI of digital investment for financial institutions. We have used this approach for a range of topics, from digital transformation to supply chain management, customer centricity, cybersecurity, and smart cities.
If, for example, we are asked to analyze the impact of digital transformation on the performance of companies across industries, our economists first identify where these firms fall on the “digital maturity” spectrum based on their progress in key business areas, such as transformation process, people and culture, technology adoption, customer centricity, and back-end efficiencies. Drawing on the responses to a series of questions around each business area, we can develop a scoring method to determine a company’s maturity stage. We then use this score to classify firms into digital maturity groups, such as “laggards,” “transitioning,” and “leaders.” By comparing responses from firms at various stages of maturity, we can identify what distinguishes digital leaders and provide an evidence-based roadmap to digital excellence.
We then build on this analysis by quantifying the ROI of digital transformation for firms as they move along the maturity curve We do this by including questions in the survey that explore the impact of digital innovation on a firm’s performance, such as revenue, costs, and productivity. This enables us to not only measure the ROI of digital transformation, but also to identify the approaches that offer the highest payback. We are also able to calculate the penalty (in terms of commercial results) that firms pay by moving too slowly.
The results of this analysis can be incorporated into an online benchmarking tool. The tool walks users through the same questions that were used to classify survey respondents, determining what type of firm they represent, and then estimating the impact for that firm of moving along the curve. The tool offers companies insightful and valuable information about how they compare with their peers and the potential benefits of improving their digital maturity.