In our Digital Mindway whitepaper entitled, “The Digital Revolution of Society”, we’ve written that digitalization and digital transformation have a wide variety of definitions. In some cases, the explanations are far apart and range from the physical transformation of analogue information into digital data to the ab- stract exploitation of new possibilities.There is no ‘right’ or ‘wrong’ here, because the truth depends on the viewer. In purely conceptual terms, digitization describes the process of converting analog data (and processes) into digital. At the same time, digitalization means a transformation that encompasses much more than data or processes.Authors Prof. Dr. Daniel Schallmo and Prof. Dr. Andreas Rusnjak offer one of the most comprehensive definitions for digital transformation, cumulating a multitude of diverse definitions: “Within the framework of digital transformation, the networking of actors, such as companies and customers, across all stages of the value chain and using new technologies are essential components.""Building on this, digital transformation requires capabilities that include the collection, exchange, analysis, and transformation of data into information. This information is calculated to evaluate options in order to facilitate decisions and initiate activities. The digital transformation can take place for companies, business models, processes, relationships, products, etc., in order to increase the performance and reach of a company."The digital transformation can take place for companies, business models, processes, relationships, products, etc., in order to increase the performance and reach of a company.

- Prof. Dr. Daniel Schallmo & Prof. Dr. Andreas Rusnjak

What Does Digitalization Mean To You?

Digitalization Means NetworkingAs previously stated, separated systems will become more and more closely networked and lead to an increase in speed, adaptivity and productivity. Prof. Dr. Fredmund Malik sees this networking of millions of companies and organizations as the greatest challenge of the modern complex society.Digitalization Means Sharing The integration and coordination of important stakeholder groups have gained enormous importance with the digital transformation.Today’s trend is to work and communicate on common digital platforms, yet borders become blurred and their validity becomes blurred and their validity is increasingly limited temporarily. On the one hand, project work is becoming more and more common. On the other hand, there is no longer the one social norm. In this way even people with extraordinary interests or convictions can find a platform.Digitalization Means RethinkingDigital information allows us to fundamentally rethink and streamline economic and social pro- cesses, value chains and organizations.Digitalization Means The Opportunity For Increased Prosperity The use of digital technologies can not only save time and money, but also massively increase pro- ductivity. This can lead to both material prosperity and a better work-life balance.Digitization Mean Repurposed Digitized information can be distributed worldwide in real time (free of charge), promote globalization through comparatively low transaction costs, can be evaluated and processed mechanically thanks to mathematical algorithms and can lead to an overall increase in market transparency.All of this has an aggravating effect on competition: Innovation, creativity and performance are rewarded.Digitization Means AdaptationIn order to be able to follow the increased pace of the digital age, the maximum speed (digital processes, core systems, etc.) alone is not sufficient. Acceleration is crucial because human adaptability is very limited, compared to the increased development of new technologies.