Digital transformation

Digital transformation DX is a adoption of digital technology by an organization. Common goals for its execution are to improved efficiency, improvement or innovation.

History

Digitization is the process of converting analog information into digital cause using an analog-to-digital converter, such(a) as in an conception scanner or for digital audio recordings. As ownership of the internet has increased since the 1990s, the ownership of digitization has also increased. Digital transformation, however, is broader than just the digitization of existing processes. Digital transformation entails considering how products, processes as well as organisations can be changed through the use of new, digital technologies. A 2019 review proposes a definition of digital transformation as "a process that aims to upgrading an entity by triggering significant reorientate to its properties through combinations of information, computing, communication, together with connectivity technologies." Digital transformation can be seen as a socio-technical programme.

Adopting digital engineering can bring benefits to a business, however some company cultures can struggle with the changes so-called by digital transformation.

A 2015 version stated that maturing digital group were using cloud hosting, social media, mobile devices and data analytics, while other institution were using individual technologies for specific problems. By 2017, one explore found that less than 40% of industries had become digitized although usage was high in the media, retail and technology industries.

As of 2020, 37% of European companies and 27% of American companies had non embraced digital technology. Over the period of 2017-2020, 70% of European municipalities make increased their spending on digital technologies.

In a 2021 survey, 55% of European companies stated the COVID-19 pandemic has increased the demand for digitalization, and 46% of companies offered that they have grown more digital. Half of these companies anticipate an add in the usage of digital technologies in the future, with a greater proportion being companies that have ago used digital technology. A lack of digital infrastructure was viewed as a key barrier to investment by 16% of EU businesses, compared to 5% in the US. In a survey conducted in 2021, 89% of African banks polled claimed that the COVID-19 pandemic has hastened the digital transformation of their internal operations.

The share of EU firms implementing modern technologies, such as 3-D printing, modern robotics, or the internet in their business reached 61%. There were also significant increases in 2020, with 63% and 58% in 2019.