Digitization
• Digitization is the process of converting analog information to digital
format.
• Example: Audio and video to photography and data storage.
• The advent of digital technology has revolutionized many industries
Digitalization
• Digitalization is all about moving existing/analog
processes into digital technologies.
• Digitization is for information, whereas digitalization is
for processes.
• Gartner defines it as using digital technologies to alter a
business model and create new opportunities for
revenue and value.
• Digital technology is applied to everyday tasks to
improve efficiency and productivity.
Examples: Digitalization
• Ex- Automating tasks that were previously done manually,
such as using a software program to generate reports instead
of using spreadsheets or paper-based processes.
• Using digital devices to complete tasks previously done
offline, such as using a smartphone to make a restaurant
reservation or buy movie tickets.
• With digitalization, businesses can streamline their operations
and make them more efficient.
Digitalisation
• Digitalization is the use of digital technologies to change a
business model and provide new revenue and value-
producing opportunities;
• it is the process of moving to a digital business.
Digital Transformation
• Digital transformation is the process by which companies
embed technologies across their businesses to drive
fundamental change.
• The benefits? Increased efficiency, greater business agility and,
ultimately, the unlocking of new value for employees, customers
and shareholders.
DT…..
• Digital transformation is the process of
streamlining a company’s core operations and
customer value propositions using emerging
technologies/ disruptive technologies
• Drives innovation, invention
• It’s a comprehensive strategy
• It requires changes to culture, structure,
processes, and governance.
DT..
• The integration of digital technology into all areas of a
business resulting in fundamental changes to how
businesses operate and how they deliver value to
customers.
DT……it is different….
• Digital transformation is the process of using digital using digital
technologies to transform existing traditional and non-digital business
processes and services, or creating new ones, to meet with the
evolving market and customer expectations, thus completely altering
the way businesses are managed and operated, and how value is
delivered to customers.
Why DT is important?
• To remain competitive in their industry.
•
• Survival & Growth
What is this?
• In bank, every department is now connected digitally,
and customers have one single interface to seamlessly
interact with the bank through online means.
• The bank – Digital Transformed……
• Surprisingly, the answer is no!
DT…
• The ‘Digital’ in the digital transformation is actually redundant.
• A true digital transformation is a business model change that has occurred
because of the rise of technology.
A company is digitally transformed when it has redefined customer value
proposition, value-added processes, and people’s working methods.
• When a business finds new ways of creating value or identifies to serve a
new set of customers in a way that’s never been done before, that counts
as digital transformation.
• In essence digital transformation is actually a
business transformation.
Characteristics….
1. Extreme Customer Centricity
2. Command Over Ecosystem Data
3. Connected Products and Services
4. Digitalized and Experience-Centric Operations
5. Digitalized Workplaces
6. Cloud-Enabled IT Infrastructures
7. Secure Business Ecosystems
Thank you
