Analyzing and Visualising the Trends in Digital Transformation, Digitalization, and Digital maturity
Paper
In the last two decades, technological developments affected almost all aspects of society. These new developments have caused rapid changes in the business environment. Accordingly, the changes have been impacting how businesses operate, as well as have been encouraging firms to adopt digital technologies on a wider scale and under time pressure. Digital transformation leverages the implications of new technologies on how an organization operates to meet rising demands.
Additionally, the COVID-19 pandemic accelerated the adoption of digital technologies and digitalization of the companies. Digital technologies create novel opportunities for entrepreneurial or innovative companies.
On the other hand, the integration of digital technologies and the adaptation of digitalization processes put pressure on companies that are being outcompeted by their more digitally mature competitors.
The adaptation of digitalization or digital transformation is one of the biggest challenges that companies currently face (Rêgo, 2021), while at the same, it is one of the crucial ways to remain ahead of ever-changing digital trends to meet rising demands. Therefore, it is important to build an understanding of how digitalization, digital maturity, and digital transformation reshape the entire business landscape.