Digitalization indicates using digital technologies to improve a company’s business processes, products and services. While there are many advantages to digitization, it also poses a number of complications.
Advantages of digitization
Digitization can improve a company’s internal operations by eliminating manual tasks and reducing costs through automation. In addition , it can help an organization gain new clients or grow its existing customer base.
Disadvantages of digitization
A key disadvantage of digitization is the fact that that digital information can be easily changed and wiped. This can result in errors and misunderstandings.
In addition , a company may become overly dependent on technology. This can result in a loss of human proficiency and decrease the pace of production.
The emergence of the digital economy has led to a fundamental shift in the manner corporations produce and market goods and services. In contrast to classic industries, which will rely on high costs and labor resources for goods and companies, an electronic digital economy runs with productivity.
Hence, it is crucial to have a crystal clear vision by what the digitalization of a firm will implicate and put into action it intentionally.
The effects of digitalization on a firm’s value creation, proposition and capture had been investigated in two eye-catching industries, the media and automotive industry, employing qualitative empirical data collected out of 12 primary informants. A conceptual environment https://cloudycrowd.net/2020/04/01/digital-transformation-of-the-market-the-data-room-is-the-technology-1/ based upon dynamic functions was adopted to frame the scientific study (see Figure 1).
