Though there is huge excitement around Digital Transformation, but it is only an "enabler" to your business needs. So, what really matters are how we are identifying the specific business needs that can be enabled by specific digital solution. It is never going to be 'all-encompassing' generic solution. If it is not tailored to a specific business needs, it does not add incremental value.
As Leaders, one must stay focused on the time-tested fundamental of only doing what matters to add value to your business. Otherwise, there will always be the risk of doing fancy stuffs which will be detrimental to the business.

Both of the earlier responders, rightly so, look at the digital transformation as an enabler for growth. I think we will all agree that companies only grow when they can sell more goods. The justification to go digital must be in alignment to create opportunity to sell more. If I place sensors all over my manufacturing equipment that aid in the prediction of unscheduled downtime, then I can schedule maintenance in a way that helps me increase throuput and productivity. This is easily justified. Providing all of my sales staff with the latest smart phone, when they are incapable of using 1% of the computational power, is less justifyible.

Organizational culture is a far bigger contributor to successful digital transformation than "build it and they will come." If a company's culture is accepting of migrating toward data driven decision making, the transformation will be successful. In the above example of sensors on machines; If my maintenance manager and production manager ignore the data and analysis provided by the technology I bought, and do not schedule the necessary maintenance time, I will still experience unscheduled downtime - and miss customer deliveries. Commitment to go digital relys upon commitment to act upon the data and analysis.

Innovation without execution is futile.

Like any kind of change, transformation or not, there has to be a real business need, felt strongly enough by people who care about making it happen. John Kotter calls this Urgency in his change leadership model - it's more than excitement about technology or frustration at performance

Secondly, if it's genuine transformation, you can't plan and control your way to the future - you have to experiment and evolve to find what really works.

Most people don't have enough genuine urgency, and stifle experimentation with politics and control. Either that or they invest in shiny technology that doesn't address real customer/business needs.

Technologies can always be fixed - it's the people stuff that will kill you.