IDC: 77% of Canadian retailers have no innovation strategy

By zaymalz malz

A new report from the International Data Corporation (IDC) Canada has revealed that Canadian companies need to more readily adopt new technologies and embrace digital transformation to avoid falling behind on the global stage.

According to the survey, based on interviews of 31 representatives from Canadian enterprises with more than $500mn in revenue, less than one in four retailers across the country currently have an innovation strategy in place.

See also:

Further, of the five technologies that are considered to act as key disruptors moving forward (AI, Cloud, IoT, big data analytics and blockchain), most companies are only considering data to be of key importance.

“Organizations will need to choose between weathering the storm, developing digital transformation competencies and becoming a disruptor, and becoming a fast follower of disruptors,” IDC Canada states in the report.

Less than one third of Canadian companies view IoT as an important technology to implement when looking to more readily grasp certain markets and remain competitive.

As a result of these findings, the IDC advises that companies need to outline and pursue key strategies when it comes to the use of digital technologies.

Share

Featured Articles

Broadridge study reveals huge impact of AI on C-suite

Broadridge Financial Solutions spoke to 500 C-suite executives from across the globe, many of whom said AI was significantly changing the way they work

PwC's Kathryn Kaminsky – the role of boards on social issues

As Vice Chair Trust Solutions Co-Leader at PwC, Kathryn Kaminsky says boards play an important role in helping businesses take action on social issues

Why your business needs a Chief Transformation Officer

Responsible for driving growth and change, the Chief Transformation Officer is the latest addition to the C-suite as business undergoes major change

12 top AI and ML trends for the enterprise in 2023 – Dataiku

Technology & AI

From NYC to Hong Kong, the rise of the private members' club

Leadership & Strategy

Meet the CEO: Jill Stelfox of Panzura, exclusive interview

Leadership & Strategy