Harvard Business School Professor Suraj Srinivasan studied the value that publicly traded, non-technology firms derive from "going digital," or adopting a digital transformation strategy. Professor Srinivasan used a novel approach to identify companies embarking on a new digital venture —he captured mentions of keywords such as big data, artificial intelligence, digital transformation and other terms in company 10K filings, earnings calls and investor call transcripts.

Using this data set, he found positive relationships between companies that launch a digitization effort and their long-term value. He also learned that more companies than ever are investing in digital tools and that companies with tech-savvy executives tend to perform better than companies that place a lower priority on promoting technology managers. Professor Srinivasan's study is: "Going Digital: Implications for Firm Value and Performance." It's featured in the Harvard Business Review.