The implications of business digitalization are increased efficiency, better data analytics, enhanced customer service and engagement and the capability to automatize processes. In addition, digitalization of business enables businesses to run low-cost experiments involving innovative strategies and ideas in a risk-free environment.
Not that long ago the majority of business records were written in ledgers, or handwritten into paper documents – and if you wanted to share that data with colleagues the process was accomplished by physically delivering the document to someone else or sending it via fax. As computers became more widespread and more companies began to convert their paper ink documents into digital computer files. This process is referred to as digitization, and is the foundation of many current tools and business practices.
Increasing Efficiency
Digitalization can help people work more efficiently and quickly and www.cloudycrowd.net/ efficiently, allowing them to finish projects and meet deadlines in a timely manner. Digitalization can also help businesses cut costs by automating some processes and freeing up employees to concentrate on more important tasks.
Improved Customer Service and Engagement
Digitalization has enabled companies to collect data on their customers’ interactions with their products and services. This information can be used to enhance the customer experience and increase sales and loyalty. Digitalization also lets companies provide customized services and products to every customer.
It’s important to note the difference between digitalization and digitization, as the former refers to changing data into digital format and the latter involves the use of that data to drive change in business processes and models.