We have witnessed three major waves of digital that swept the business landscape, bringing acute disruption across most industries. The first wave began in 2007 and marked the advent of omnichannel experiences, owing to the introduction of the iPhone. The second wave was about the establishment of digital revenue with the help of platform-oriented business models.
The third wave, which we call Digital HyperExpansion (DHX), is the culmination of digital transformation efforts from the first two waves and results in the enterprise becoming a digital platform that enables portfolio and lifecycle management of all campaigns, brands, products, business units, and infrastructures.
The infographic below sheds light on the impact of the Third Wave of Digital on industries and how the COVID-19 pandemic catalyzed Digital HyperExpansion. It reveals what an ideal technology framework for Digital HyperExpansion looks like. It shows the various facets of digital lifecycle management that are crucial to move beyond digital transformation and achieve the Digital HyperExpansion target state. Further, it highlights some industry leaders that have successfully created new competitive advantages in the third wave.