As we progress more and more into the future, the average lifespan of companies is also shrinking. "The average lifetime of companies is shrinking. If you were listed in the S&P 500 in 1935, the lifespan of a company was 90 years. Today, it is 18 years. Every two weeks a company is going off that system," Barton said at the 2nd Economic Times Global Business Summit. But why do these large companies cease to exist? Global businesses need to transform how they operate through the digitalization of every business unit to remain competitive. Economist Schumacher tackled this issue in his book published in 1975, Small is Beautiful. In his book, he exposed the inefficiencies of large corporations and started a movement of appropriate technology. Schunacher maintained, “What characterizes modern industry is its enormous consumption to produce so little … it is inefficient to a degree that goes beyond imagination!”It is important to note that every business has its own goals and challenges when it comes to digital transformation. In this blog post, we’ll explore the driving force behind the trend and what companies can do to adapt their businesses to the technology of the future. "Technology has led to fundamental business change for everyone. This is driven by data. Every two days we collect more data than we did in the last 2000 years. About 95% of that may be useless, but we are getting better and better at using it. We are also seeing massive improvements in computing powers. With 3.5 billion people wired up, we will see significant disruption," says Barton
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