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Digitalization has numerous implications for businesses, such as increased efficiency, improved data analytics, enhanced customer service and engagement and the ability to automate processes. Furthermore, business digitalization enables businesses to run low-cost experiments using innovative strategies and ideas in a safe, secure environment.

In the past, the majority of business data was typed or written in ledgers. To share this information with colleagues, you needed to physically mail or fax the document. As computers became more widespread and more companies began to convert their paper ink records into digital computer files. This process is referred to as digitization and is the basis of many modern tools and practices in business.

Increase Efficiency

Digitization allows people to work more efficiently and quickly, making it easier for them to finish projects and meet deadlines on time. Additionally, digitalization can aid businesses in reducing costs by automatizing certain processes and freeing up employees to concentrate on more important tasks.

Enhancing Customer Service and Engagement

Digitalization has enabled businesses to collect data about their customers’ interactions with their products and services. This information can be used to enhance the customer experience as well as increase customer loyalty and revenue. Digitalization also enables companies to provide personalised products and services to every customer.

It is essential to know the difference between digitization and digitalization. The first is the transformation of data into digital form. The latter refers to the use and transformation of the data in business models and processes.

https://cloudycrowd.net/2020/04/01/digital-transformation-of-the-market-the-data-room-is-the-technology-1/

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