Digitization is the conversion of analog or physical products to digital resources. Companies may transition their products and processes to the cloud or a virtual network for the opportunity to reach more customers. Doing so can also result in cost savings or reduced environmental impacts. Digitization is a form of dematerialization.
Examples include:
Converting to digital allows companies to capitalize on emerging trends like big data or the Internet of Things (IoT).
Situation:
Challenges:
Solution:
Key benefits: