Digitalization describes the phenomenon of how business and society are increasingly pervaded by digital technologies (such as Social Media, Big Data, Clouds, Smart Devices, or the Internet of Things), as well as the change in interconnectedness of individuals and the subsequent change in their behavior. Because of the pressure on firms to innovate and develop new technologies, digitalization requires sweeping changes in how companies think. In order to be successful in a digital world, companies need to reevaluate their current business models and introduce innovative solutions throughout their value chains. Challenges as well as opportunities arise from this development, for both business and society. It is crucial to deal with the challenges associated with the digitalization and to take advantage of its many opportunities.
We, the Research Center Finance & Information Management and the Project Group Business & Information Systems Engineering of the Fraunhofer FIT, have recognized this trend early on and have acquired scientific knowledge and practical experience revolving around the topic of digitalization for many years. This vast knowledge enables us to support and guide society and businesses in their digital transformation. Digital transformation describes the goal-oriented adjustment efforts that have become necessary in order to maintain a sustainable value chain in the light of advancing digitalization.
To support with this transformation process, we are able to access a multifaceted pool of expertise from our existing research groups which have conducted multiple digitalization projects in cooperation with several of our business partners. In addition to that, we have published numerous scientific papers in renowned publication outlets on the topic (for more details see below). Last but not least, we’re in a steady exchange with our colleagues from both research and practice. Based on this knowledge transfer we recently published the study “Digital Transformation – Changes and Chances”, in which we investigate the opportunities and challenges that arise from digital transformation, and identify the relevant fields of action that arise from it.