Digitalization implies using digital technologies to boost a company’s business techniques, products and services. During your stay on island are many positive aspects to digitization, it also poses a number of concerns.
Advantages of digitization
Digitization can improve a company’s internal processes by eliminating manual tasks and reducing costs through automation. In addition , it can help a business gain clients or increase its existing customer base.
Disadvantages of digitization
A key drawback to digitization is the fact that that digital information can be easily transformed and wiped. This can bring about errors and misunderstandings.
In addition , a company can become overly dependent on technology. This can lead to a diminished human experience and lessen the pace of production.
The emergence of your digital economy has led to an elementary shift in how companies produce and market their products and products. In contrast to traditional industries, which rely on high costs and labor resources for goods and providers, a digital economy manages with performance.
Hence, it is necessary to have a clear vision about what the digitalization of a firm will entail and put into practice it smartly.
The ramifications of digitalization on a firm’s value creation, proposition and capture had been investigated in two different industries, the media and automotive industry, using qualitative empirical data collected out of 12 primary informants. A conceptual establishing innovative business models based upon dynamic capacities was adopted to body the scientific study (see Figure 1).