There is no way around digitization: “In order to successfully shape the digital transformation in a company, a holistic introduction of new processes and modern media is required.”
This digital transformation is characterized by strategic and structural changes and a restructuring of business processes and business models with the aim of significantly increasing the performance and reach of companies and organizations. Added to this is the further development of the customer experience. Traditional business models are suppressed and rendered obsolete by disruptive innovations. The many examples of this shape our lives: Marketplaces for services such as Airbnb and Uber leave well-established providers far behind. Companies like Alphabet and Facebook are among the most powerful in the world, with countless abstract services, offerings and revenue models. But not only are B2C markets affected, but also in the B2B sector, digitization is shaping all sectors. Digital transformation is now affecting every sector of the economy and threatens companies that have been relying on allegedly secure business models for decades. But entrepreneurs of established organizations can counter that - if they see the digital transformation as an opportunity and evolve into a digital pioneer through continuous business model innovation.
Digital Transformation's competitive advantages also translate into better than ever possible collection and analysis of data using digital tools to make better predictions and decisions, or to create a precise customer profile (such as how customers interact with a brand).