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To identify the key factors 

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that drive success 

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in a digital transformation,

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BCG recently surveyed 

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over 800 senior executives globally

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across all major industries, 

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and studied more than 70 digital transformations

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supported by BCG. 

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The study showed that only 30%

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of digital transformation efforts

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achieved success. 

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However, there are six key factors that,

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if addressed adequately, 

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can flip the odds of success 

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in a digital transformation 

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from 30% to 80%.

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One of these six success factors

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is effective monitoring of progress 

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towards defined outcomes. 

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BCG research reveals that companies

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that track progress against clear goals 

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are over 70% more likely 

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to succeed in their digital transformation efforts

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than those that do not. 

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Quantifying the expected value of transformation outcomes 

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is the crucial first step for ensuring

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the effort is targeting areas of real value. 

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Tracking progress is the next step, 

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and its importance cannot be overstated.

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A staggering 75% of successful transformations 

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have effective monitoring, 

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which allows for about 50%

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improvement in dynamic adjustment of financing 

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throughout the transformation. 

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Our research also shows 

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that having a strong central entity,

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such as a Transformation Management Office,

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improves monitoring by almost 30%.

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But what else does it take 

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to make monitoring effective? 

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Based on our empirical research, 

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we have developed a set of Yes/No questions

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that define the key drivers behind effective monitoring 

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and can help you assess 

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what your organization 

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already has in place. 

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These key drivers are:

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having a trusted reporting 

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entity with a clear activist mandate,

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metrics linked to the strategic intent,

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accountability for delivery, 

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and a single source of truth for data.

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And BCG has a structured approach

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to help you answer 

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"Yes" to these defining questions. 

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There are a few other 

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considerations to keep in mind 

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regarding progress monitoring 

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as you proceed with a digital 

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transformation effort:

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Set up your initiatives for success.

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Ensure that initiatives are specific enough

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to assign and track owners, 

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and that they have clear business cases 

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with a solid understanding 

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of the starting point 

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aligned with all 

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relevant stakeholders. 

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Minimize the burden on the organization. 

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Be simple in terms of what you track,

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and where possible,

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automate the monitoring process.

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A simple process that minimizes 

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tracking effort and gets it done

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is better than the perfect one that doesn't.

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Empower the data owners.

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Initiative owners must own 

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all information and actively call out 

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impediments to reaching goals. 

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Focus on resolving issues. 

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Tracking is a means for pushing 

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the transformation forward. 

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Ensure there is full transparency 

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on what needs to be fixed, 

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and view flagging of roadblocks as requests for help,

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not causes for reprimand. 

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Be hypervigilant. 

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Value monitoring is a game of stamina.

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Be strict about following 

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the tracking processes 

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and keep leadership attention on them, 

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especially when facing 

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early complications. 

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As one of our senior clients puts it: