Digitalization
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The Impact of Digitalization on Business Models and Industry Practices
Digitalization and Business Models: Evolution and Trends
Digitalization has significantly influenced business models across various industries, leading to new forms of cooperation, product and service offerings, and customer relationships. Research indicates that digitalization has been a growing field of study, particularly since 2010, with a notable increase in academic literature exploring its impact on business models. This trend is evident in the identification of three thematic clusters: technological innovation, strategic management, and digital transformation, which highlight the most influential contributions in the field.
Digitalization in Energy Sector: Technological Integration and Benefits
The energy sector has seen substantial digitalization in production, distribution, and consumption, driven by technologies such as data mining, machine learning, smart grids, and the Internet of Things (IoT). This digital transformation has led to improvements in health, safety, environmental impact, process efficiency, and cost reduction. The systematic review of literature in this sector underscores the magnitude and recent acceleration of digitalization efforts, particularly in the last five years.
Digitalization in Daily Life: Smart Technologies and E-Services
Digitalization extends beyond business models to everyday life, integrating technologies into smart homes, e-healthcare, smart mobility, and smart cities. This integration enhances personal and professional relationships, as well as interactions with government services. The goal is to align digital services with customer needs, thereby creating new revenue and value-producing opportunities.
Business Model Innovation through Digitalization
Digitalization pressures companies to rethink their strategies and explore new business opportunities. Empirical studies in the media and automotive industries reveal that digitalization influences value creation, proposition, and capture, while also presenting challenges related to organizational capacities and employee competencies. Despite the pressures and opportunities, the application and exploitation of digitalization for business model innovation remain challenging.
Historical Perspective and Future Directions in B2B Digitalization
The digitization and digitalization of business-to-business (B2B) firms have a long history, with recent research focusing on how digitization capabilities enable data-driven growth and business model transformation. This historical overview highlights the ongoing evolution and the need for further research to consolidate and expand this knowledge.
Systematic Approach to Digital Transformation
A systematic approach to digital transformation involves positioning the company within the digital landscape, defining goals, analyzing the current state, and implementing a roadmap to achieve these goals. This iterative process helps companies manage the changes associated with digitalization and leverage its benefits effectively.
Opportunities and Challenges for Business and Information Systems Engineering
The convergence of social, mobile, analytics, and cloud (SMAC) technologies has driven a wave of digitalization, creating opportunities for innovation in business and society. However, this wave also presents challenges, as the integration of digital technologies requires careful management and strategic planning.
Clarifying the Concept of Digitalization
Digitalization is often used interchangeably with similar terms, leading to misconceptions. A clear definition distinguishes digitalization as the adoption of digital technologies to enhance competitive advantage and operational efficiency. This clarity is essential for understanding the impact of digitalization on business landscapes and for guiding future research.
Digitalization in Accounting: A New Wave of Technological Advancements
In accounting, digitalization represents a third wave of technological advancements, influencing integrated information systems and decision-making processes. This shift has led to changes in the boundaries of accounting, power relations, and knowledge production, highlighting the need for further research in these areas.
Conclusion
Digitalization is reshaping business models, industry practices, and daily life through the integration of advanced technologies. While it offers numerous benefits, such as improved efficiency and new business opportunities, it also presents challenges that require strategic management and continuous adaptation. Future research should focus on addressing these challenges and exploring the evolving impact of digitalization across different sectors.
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