Digitalization is a process of modifying business functions, functions and activities by leveraging digital technologies. It is actually characterized by the creation and wider use of digitized data, that can be turned into cleverness and useful knowledge (remember DIKW? ).

Digitalization enables firms to improve their worth creation and value idea. It is also a means to fulfill consumer needs better and enhance their competitive advantages by using digital equipment and strategies, which are based upon real-time info.

In addition , digitalization has led to a big change in provider relationships with customers and employees. It also enhances the need for interdisciplinary co-operation within and between corporations as well as with partners in the field of digitalization.

Staff members are the step to a successful digital transformation in companies. They have to be trained to deal with digital technology and reorient their requirements accordingly.

Creating new business styles through digitalization is an effective approach to generate earnings for this company and to captivate potential new customers. However , it requires a lot of time and energy.

To start with, the firm has to prepare a comprehensive business case. This will allow the finance office to make a strategy decision about the enactment of digital solutions plus the costs involved.

In addition , it is necessary to consider sustainability goals when planning digitalization. This can include lowering power usage, for example by transitioning away power-hungry data center infrastructure. Considering alternative strength options is another way to reduce the business’s influence on the environment.