Digitalization signifies using digital technologies to enhance a company’s business techniques, products and services. While there are many positive aspects to digitization, it also poses a number of obstacles.

Advantages of digitization

Digitization may improve a company’s internal processes by eliminating manual tasks and reducing costs through automation. Additionally , it can help a company gain new customers or develop its existing customer base.

Negatives of digitization

A key drawback to digitization is the fact that digital information can be easily structured differently and removed. This can result in errors and misunderstandings.

Additionally , a company could become overly dependent on technology. This can lead to a loss in human skills and lessen the pace of production.

The emergence of the digital overall economy has led to an elementary shift in the way businesses produce and market their products and services. In contrast to classic industries, which rely on expense and labor resources for their products and offerings, an electronic economy functions with efficiency.

Hence, it is crucial to have a obvious vision by what the digitalization of a company will include and use it intentionally.

The significance of digitalization on a firm’s value creation, proposition and capture were investigated in two distinct industries, the media and automotive industry, applying qualitative empirical info collected via 12 critical informants. A conceptual environment https://cloudycrowd.net/2020/03/23/business-digitalization-implications-and-solutions/ depending on dynamic features was adopted to structure the empirical study (see Figure 1).