Digitalization is the generic term for the Digital Transformation of society and the economy. It describes the transition from an industrial age characterized by analogue technologies to an age of knowledge and creativity characterized by digital technologies and digital business innovation. Alongside business innovation, digitalization – the development of digital innovations – is one of the most important business trends for the future of the economy. Companies need to develop digital strategies and focus on what are the key success factors of digital transformation. Digitalization has many different aspects:
For example, the term digital transformation describes the gradual transition of existing economic and social systems into the digital age. The term Digital Disruption describes the radical changes triggered by innovative digital business models.