There is no universal definition of digitalization, but the one I coined and share with my clients is simple:
Digitalization is leveraging digital tools to achieve business objectives.
Notice that this definition is:
· Technology agnostic
· Business agnostic
· Industry agnostic
· Orientation (internal/external) agnostic
Such definition means that digitalization is nothing else but yet another tool in the business’ toolbox. Thus, like with every tool, digitalization can be suitable for some tasks and not for the others. Depending on the objective(s) selected by the business, progress and success rate of a digitalization activity can be measured either by traditional financial tools (e.g. ROI analysis) or other more qualitative measures (e.g. impact on society).
Note: Digitalization should not be confused with digitization, which is a process of converting from analogue to digital.
Let me know in the comments section what you think. Especially, if you know a better definition!
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