Digital transformation impacts all areas of a business, resulting in fundamental changes to how businesses operate and deliver value to customers. It enables companies to tap into new markets and compete with new entrants that are leveraging technology to disrupt traditional business models.

For instance:

• IDC studied the value and benefits that organizations using Oracle Cloud Infrastructure received and concluded that these organizations realized discounted benefits worth US$5 million per organization per year
• In a recent Gartner survey, AI was reported as the most impactful new technology among CEOs for the third year in a row and by 2025, it will be the top category driving infrastructure decisions, resulting in a tenfold growth in compute requirements
• Gartner also estimates that by 2023, organizations that promote data sharing will outperform their peers on most business value metrics, and by 2024, 75% of organizations will have established a centralized data and analytics center of excellence
• In December 2021, Oracle reported that they had 8,500 Oracle Cloud Applications customers and expected this number to be 30,000 customers in the next five years

Findings like these highlight how embracing digital transformation is no longer an option but a necessity for organizations in order to compete effectively and stay ahead of the curve.