Digitalization has numerous implications for business, including increased efficiency, better data analytics, enhanced customer service and engagement as well as the ability to automate processes. Business digitalization also enables businesses to experiment with new ideas and strategies in a low-cost environment.
In the past, most documents for business were written down or handwritten into ledgers. To share this information with colleagues, you had to physically send or fax the document. As computers became more common businesses began to convert their paper-based ink documents into digital files. This process is known as digitization and is the foundation of many current tools and business practices.
Improve Efficiency
Digitalization lets people work more quickly and efficiently and efficiently, allowing them to meet deadlines and complete projects in time. In addition, digitalization can help businesses cut costs by automatizing some processes, allowing employees to concentrate on important tasks.
Improve Customer Service and Engagement
Data on the interactions of customers with services and products can be collected by businesses through digitalization. These data can be used to improve customer experience, boost revenue and boost loyalty. Digitalization also allows companies to provide customized products and experiences to each customer.
It’s important to note the distinction between digitalization and digitization, since the former is the conversion of data into digital form, while the latter is the use of this information to drive transformation in business processes and models.
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