2 papers analyzed
These studies suggest digitalization reduces economic costs and transforms business models, emphasizing the importance of understanding value creation, delivery, and capture.
Digitalization is transforming the business landscape by leveraging digital technologies to enhance economic activities and business models. This transformation is driven by the reduction of various economic costs and the integration of advanced technologies such as the Internet of Things (IoT) and predictive analytics. The following synthesis presents key insights from recent research on how digitalization impacts business operations and models.
Reduction in Economic Costs:
Business Model Innovation:
Digitalization in business is primarily driven by the reduction of various economic costs and the necessity for business model innovation. To fully benefit from digital technologies, businesses must innovate their models, particularly in service-oriented directions, and further research is needed to understand how these transformations can contribute to sustainability.
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