As the nature of legacy burden varies from product to product, the transformation strategy will also vary accordingly. It is not an easy to task to come up with the right transformation strategy, as there are often conflicting levers and priorities.
Any transformation strategy must start with a comprehensive analysis, that looks at markets, technologies, and current state of the product including application architecture, technical debt and obsolescence. Based on this analysis, one must identify priorities and formulate a transformation strategy to achieve the targeted goals.
Based on the nature of legacy burden, and various technology or business drivers, product transformation strategies can be broadly classified into:
Drivers for Product Transformation
The nature of legacy burden varies from a technology and solution perspective. There are distinct drivers for product transformation, which can be broadly clubbed under:
Technology push: The changing enterprise needs, the advent of digital accelerating technologies such as IoT, AI, ML, AR, VR etc., proliferation and popularity of a new generation of robust programming languages, and flexible application architectures have emerged as some of the key technology drivers for product transformation.
Business model pull: As every business is transforming into a digital business, enterprise digital needs can be met only with sophisticated systems of innovation (or engagement) that can support consumerization and personalization. The onset of platform business models and new opportunities to offer software-enabled services to digital businesses have emerged as key business drivers for product transformation.