CIOs could waste millions on failed digital projects in 2019, says Couchbase

New research from Couchbase has highlighted the millions of dollars CIOs are likely to waste on misguided digital projects in 2019.

Over half of the survey participants - digital transformation leaders from the United States, the United Kingdom, France and Germany - agreed that fixation on rapid technology change will lead to ill-thought-out projects siphoning cash.

With average spend planned at $28mn, a large proportion of that amount will end up being wasted - 95% of respondents believe that digital transformation can seem an insurmountable task.

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The importance of integrating digital services remains as mission critical as ever, though, with 86% of businesses aware that they will have to adapt in the next 12 months or accept they will become less relevant.

"We are entering the era of the massively interactive enterprise where every part of an organisation, from sales and marketing, to HR, finance and logistics, is built around engaging digital experiences," said Matt Cain, CEO of Couchbase.

"The revolutionary potential of digital transformation will have a hugely positive impact for those organisations that can do it well. However, the pressure to transform at speed means organisations have a higher risk of taking a rushed, reactive approach, driven by the fear that the organisation will lose relevance, that results in substandard experiences and wasted investments.

"Transformation is not a destination. It’s a continuous process that, at its best, is proactive, driven by the needs of the business as a whole, and underpinned by the right data infrastructure. By adopting this approach, and not letting the pressure faze them, organisations can join the ranks of the leading 25 percent."