What does 'digital transformation' refer to in businesses? 🔊
'Digital transformation' refers to the process by which businesses integrate digital technologies into all aspects of their operations and interactions. This transition influences company culture, improves efficiency, and enables new business models and revenue streams. Organizations undergo digital transformation to enhance customer experiences, optimize workflows, and remain competitive in fast-changing markets. It encompasses shifts in strategy, technology adoption, and often necessitates a change in organizational mindset to embrace innovation.
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