Digitalization is the process of changing business techniques, functions and activities simply by leveraging digital technologies. It really is characterized by the creation and larger use of digitized data, which may be turned into cleverness and useful knowledge (remember DIKW? ).

Digitalization enables firms to improve their benefit creation and value proposition. It is also a method to fulfill client needs better and increase their competitive advantages by using digital equipment and methods, which are based on real-time info.

In addition , digitalization has led to a big change in organization relationships with customers and employees. It also increases the need for interdisciplinary cooperation within and between firms as well as with partners in neuro-scientific digitalization.

Employees are the key to a successful digital transformation in companies. They need to be trained to handle digital technologies and reorient their skills accordingly.

Creating new business versions through digitalization is an effective approach to generate income for the business and to get potential new clients. However , it will require a lot of time and effort.

To start with, the company has to prepare a comprehensive business case. This will allow the finance team to make a knowledgeable decision regarding the setup of digital solutions and the costs involved.

In addition , it is vital to consider sustainability goals preparing digitalization. This could include lowering power utilization, for example by simply transitioning away power-hungry data center system. Considering alternative energy options is another way to reduce the business’s impact on the environment.

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