The rules of doing business are changing in the new era. The business mentalities and paradigms that prevailed before the new era are losing their validity. New digital technologies such as artificial intelligence, internet of things, cloud computing, big data and augmented reality become available in the business world and new business models powered by these technologies start to create devastating threats, forcing companies in every sector to transform without exception.
With the support of new technologies, a coffee machine producer is able to turn into a coffee machine lease company and even into a service and customer information seller and beat its competitors.
In our opinion, digital transformation is as much about technology, and perhaps more, of strategy and new business conceptions and concepts. Rather than refreshing the company's website, using new software, and increasing the processing power and bandwidth, it is about the difference that new technologies bring in view of competition and data concepts and the business model - the opportunities it offers in product innovation.
However, digital transformation is also transformation and it is comprehensive. And it requires a holistic approach to business strategy. Digital new technologies enable the development and strengthening of each component of the existing business model, while also enabling the innovation of brand new, unique business models.
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