Digitalization indicates using digital technologies to boost a company’s business processes, products and services. While there are many positive aspects to https://cloudycrowd.net/2020/04/01/digital-transformation-of-the-market-the-data-room-is-the-technology-1/ digitization, it also poses a number of obstacles.
Advantages of digitization
Digitization can easily improve a company’s internal procedures by eliminating manual tasks and reducing costs through automation. In addition , it can help a firm gain clients or develop its existing customer base.
Down sides of digitization
A key disadvantage of digitization is the fact that that digital information can be easily changed and taken out. This can result in errors and misunderstandings.
Additionally , a company could become overly dependent on technology. This can bring about a loss in human experience and delay production.
The emergence with the digital overall economy has led to an elementary shift in the way companies produce and market their products and solutions. In contrast to traditional industries, which in turn rely on high costs and labor resources for their products and offerings, an electronic economy operates with effectiveness.
Hence, it is vital to have a obvious vision by what the digitalization of a enterprise will entail and implement it intentionally.
The effects of digitalization on a firm’s value creation, proposition and capture were investigated in two different industries, the media and automotive industry, employing qualitative empirical data collected from 12 crucial informants. A conceptual setting based upon dynamic capacities was used to frame the scientific study (see Figure 1).