https://cloudycrowd.net/2020/07/30/business-digitalization-by-board-room/
Digitalization has numerous implications for business, including greater efficiency, better data analytics, better customer service and engagement and the ability to automate processes. Business digitalization also enables businesses to experiment with new strategies and ideas in a a low-cost environment.
Not too long ago, most business information was handwritten in ledgers or typed into paper documents. if you wanted to share the information with colleagues, it was done by physically delivering the document to another person or sending it by fax. When computers became more common and more companies began to convert their ink-on-paper documents into digital files. This process, also known as digitization, is the base for many modern tools and practices for business.
Increasing Efficiency
Digitalization helps people work more efficiently and quickly and efficiently, allowing them to finish projects and meet deadlines. Digitalization can also aid businesses in reducing costs by automatizing some processes, allowing employees to focus on more important tasks.
Improve Customer Service and Engagement
Information about interactions of customers with services and products can be collected by businesses by using digitalization. This data can then be used to improve the customer experience, increase revenue, and boost loyalty. Additionally, digitalization allows businesses to provide personalized products and experiences for each customer.
It is important to understand the distinction between digitization and digitalization, since the former is converting data to digital form while the latter is the use of this information to drive transformation in models and processes for business.
