The $900 billion reason GE, Ford and P&G failed at digital transformation

I am fascinated by the data that leads to this conclusion: 70% of investment in digital transformation is wasted. I have no doubt that there are inefficiencies and mis-steps. But such a large number baffles me.

https://www.cnbc.com/2019/10/30/heres-why-ge-fords-digital-transformation-programs-failed-last-year.html

Despite its critical importance, a surprising number of transformation efforts are failing, even at some of the world’s most profitable, innovative organizations. Last year alone, companies poured $1.3 trillion into transformation initiatives — 70% of which was wasted on failed programs at companies like GE, Ford and Procter & Gamble. Among those that didn’t fail outright, only 16% saw improvements in their performance and ability to sustain change over the long haul. Even for digital-first industries like high-tech, media and telecom, only 26% saw success.