June 2016 //
ZK Research defines digitization as the application of technology to build new operating models or processes by leveraging the convergence of people, business and things. Digital advancements are creating new product and services opportunities as well as transforming business operations, enabling organizations to generate more revenue, lower costs and achieve higher levels of efficiency to gain an advantage over their competitors.
Historically, maintaining a competitive advantage was based on having the best product, the lowest prices or the best people. However, this is no longer the case. In the digital business era, sustainable market leadership is based on an organization’s ability to recognize shifts in the market landscape and adapt quickly. According to a famous quote summarizing Charles Darwin’s 1859 book, The Origin of Species, “It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change.” Never has this statement been truer in the business world.