Digital Transformation and Innovation : Driving Business Growth
DOI:
https://doi.org/10.32628/CSEIT241051077Keywords:
Digital Transformation, Innovation, Business Growth, Competitive Advantage, Technology AdoptionAbstract
This comprehensive article explores the symbiotic relationship between digital transformation and innovation in driving business growth. It examines the key components of digital transformation, including cloud computing, big data analytics, AI, IoT, cybersecurity, and digital platforms. The article discusses how digital transformation catalyzes innovation through data-driven decision-making, fostering experimentation, enhancing collaboration, and accelerating time-to-market. It outlines the competitive advantages of digital transformation, such as improved customer experience, operational efficiency, new revenue streams, agility, and talent attraction. Case studies of successful digital transformations are presented, along with an analysis of organizations' challenges and considerations in their digital transformation journeys.
Downloads
References
International Data Corporation (IDC), "Worldwide Digital Transformation Spending Guide," 2021. [Online]. Available: https://www.idc.com/getdoc.jsp?containerId=IDC_P32575
World Economic Forum, "Digital Transformation Initiative: Unlocking $100 Trillion for Business and Society from Digital Transformation," 2018. [Online]. Available: https://reports.weforum.org/digital-transformation/wp-content/blogs.dir/94/mp/files/pages/files/dti-executive-summary-20180510.pdf
Gartner, "Gartner Forecasts Worldwide Public Cloud End-User Spending to Grow 23% in 2021," April 2021. [Online]. Available: https://www.gartner.com/en/newsroom/press-releases/2021-04-21-gartner-forecasts-worldwide-public-cloud-end-user-spending-to-grow-23-percent-in-2021
Grand View Research, "Digital Transformation Market Size, Share, Growth & Trends Analysis Report By Solution, By Deployment, By Service, By Enterprise Size, By End-use, By Region, And Segment Forecasts, 2024 - 2030," Feb. 2022. [Online]. Available: https://www.grandviewresearch.com/industry-analysis/digital-transformation-market
McKinsey & Company, "The digital-led recovery from COVID-19: Five questions for CEOs," April 2021. [Online]. Available: https://www.mckinsey.com/capabilities/mckinsey-digital/our-insights/the-digital-led-recovery-from-covid-19-five-questions-for-ceos
NewVantage Partners, "Big Data and AI Executive Survey 2021," January 2021. [Online]. Available: https://www.supplychain247.com/paper/big_data_and_ai_executive_survey_2021
Harvard Business Review, "The Digital Transformation of Business," 2021. [Online]. Available: https://hbr.org/resources/pdfs/comm/microsoft/the_digital_transformation_of_business.pdf
MIT Sloan Management Review, "Strategy, not Technology, Drives Digital Transformation," July 2015. [Online]. Available: https://sloanreview.mit.edu/projects/strategy-drives-digital-transformation/
Harvard Business Review, "Digital Transformation Is Not About Technology," March 2019. [Online]. Available: https://hbr.org/2019/03/digital-transformation-is-not-about-technology
Boston Consulting Group, "Flipping the Odds of Digital Transformation Success," October 2020. [Online]. Available: https://www.bcg.com/publications/2020/increasing-odds-of-success-in-digital-transformation
Boston Consulting Group, "Flipping the Odds of Digital Transformation Success," Oct. 2020. [Online]. Available: https://www.bcg.com/publications/2020/increasing-odds-of-success-in-digital-transformation
IBM, "Cost of a Data Breach Report 2024," IBM Security, 2024. [Online]. Available: https://www.ibm.com/downloads/cas/1KZ3XE9D
Downloads
Published
Issue
Section
License
Copyright (c) 2024 International Journal of Scientific Research in Computer Science, Engineering and Information Technology
This work is licensed under a Creative Commons Attribution 4.0 International License.
How to Cite
