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Digital product development is moving faster than ever, and many businesses are just getting started. Research shows that investments in optimization remain at the top of executive priority lists, driving estimates that efficiency will increase by an average of 19% over the next five years. These enhancements are also expected to accelerate time to market (+17%) and lower costs (-13%).
Efforts to bring these gains to fruition have been, in many cases, focused on investments in digital tools. The predominant belief around operational enhancement has been that, when empowered by data and digital tools, teams across sectors will be able to iterate, release new features, and respond to customer feedback in real time. The inevitable result, of course, must be enhanced outcomes and market performance. The first part is true. The second, not as much.
Correcting the record
Though speed and innovation have reached an all-time high, many organizations still struggle to translate digital initiatives into real business value. On average, just 48% of an enterprise’s digital initiatives meet or exceed the business’s target outcomes. This puts the fallacy in the accepted digitalization narrative on full display.
If efficiency is up and teams are still falling short of their strategic goals, then efficiency alone cannot be the key to meeting objectives. So, what is? The answer, from what I can see, is alignment.
In the rush to iterate, innovate, and enhance with technology, leaders have mistaken connectivity for guaranteed cooperation. Digital tools certainly can improve strategic alignment, but cross-functional partnership is not guaranteed without additional adjustments.
Though emphasis on efficient delivery and productivity gains does accelerate timelines, continued visibility gaps prevent teams from seeing their work in the larger context. The result is a culture that rewards progress for its own sake, encouraging teams to keep moving even when that effort conflicts with overall objectives. Sure, it may get new solutions and updates to market more quickly, but it can wreak havoc on overall organizational health if sustained over time.
The importance of alignment
Take, for example, a product team with two choices:
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Louise K. Allen
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