Digitalisation Digital Transformation

what do you think of when you first hear

the term

digitalization and digitization

numbers data technology or coding

well many people often mistake it as

merely as the absence of paper

while digitalization and digital

transformation is more than that in the

business world

and is closely linked to our daily lives

more than we think it is

before we dive deep into the topic i

would like to start off by defining a

few terms

digitization digitalization and digital

transformation

this is not a word play a few letters

make a massive difference in meaning but

all are closely linked

digitization according to bloomfire

is the conversion of analog information

into digital form with suitable

electronic devices so that information

can be stored

processed and transmitted through

digital circuits equipments and networks

to put it in similar terms for tech

delivered people out there

like myself it means to convert

information

into codes such as ones and zeros so

that can

a computer can store information for

example having sheets of information

all organized into an excel spreadsheet

this is still sound a little bit

confusing to you

well don’t worry because we won’t be

discussing about digitization

and the ones in the zeros we will leave

all the techy stuff to the computer

science professionals

today we’ll be discussing about digital

transformation in the business world

digitalization as gartner’s i.t glossary

defines it

is the use of digital technologies to

change a business model

and provide new revenue and value

producing opportunities

it is the process of moving into a

digital business

an example of this is having employees

shifting from working offline.word

documents

to storing information on cloud-based

servers like

google docs making it easier to update

and export information within the

workplace

digitalization is about the process of

applying technology to existing

businesses

digital transformation according to the

enterprisers project

is the integration of digital

technologies into all areas of business

fundamentally changing how you operate

and deliver value to customers

digital transformation includes all

aspects of business such as

consumer behavior growth strategies

performance

new business models and more digital

transformation isn’t simply about

the substitution of old tools it is more

about the evolution

of digital technology and the culture

changes in businesses

to make it simpler here is a diagram to

show the difference between

the three terms digitization

digitalization

and digital transformation

essentially digitization is converting

information from paper into numbers and

codes

which then can be transmitted and stored

digitalization is where businesses

change and adapt your business in a

digital form

and digital transformation is where

innovation and creativity comes in

where business models are developed and

involved

so after explaining and clearing out all

these terms

what does this mean to us in what ways

does this change how business

operate in the light of an era where

technology and i.t

is involved in every aspect of our lives

companies are shifting towards the

process of digitalization

due to its benefits here are the main

targets

firms try to achieve with digitalization

and digital transformation

efficiency improved decision making

agility

customer satisfaction and profitability

all these factors allow business to gain

a more competitive stance within

their market within the rapid changes to

our economy and market nowadays it is

important to

increase efficiency adjust quickly and

easily

based on the changing priorities and

aims of our businesses

this might still sound a little vague so

let’s bring into the context of the

convenience store market

in the past 40 to 50 years the

convenience store industry has not

experienced much change despite the

advancement in technology therefore it

is a great opportunity to build up a

strong stance

and within the market and blee phone

took this

opportunity beyond the phone directly

translates to

convenience bee it is a chinese

cashier-free convenience store operator

that was created in 2016.

in may 2020 last year it raised 100

million usd

in its series c putting the company’s

total capital raised at 1.5 billion usd

making ble fung one of the most

capitalized tech private tech companies

in china

and how did blepham achieve this within

four years

they did this with the help of digital

transformation

the ble fung system involves advanced

algorithm methods

the usage of big data management and

supply chains

and also shelving and the utilization

of a consumer to manufacturing model

which displays and

encapsulates the different techniques in

digital transformation

different from traditional convenience

stores such as 7-eleven

blephong sets out an example for us to

see how convenience stores

may operate in the future by fund’s

initiative is to allow consumers to gain

access to convenience stores by

increasing coverage across the country

making sure that consumers receive the

best service

and to reduce costs and also to maintain

and improve the quality of their

products

bluephone created this algorithm where

decisions and solutions can be

calculated and made quickly

however although the algorithm can come

up with somewhat

business plans it has still not achieved

the point where it can suitably apply to

solutions into real life contexts and

this is where

manual decision making is involved

humans have a good balance in decision

making when facing drastic and

unusual changes into their environment

however they cannot find solutions

as fast as a coded digital algorithm

therefore bionifol manages their system

using both technology

and human decision making in their

business model

this is applied to be on the phone’s

convenience store planning

different from traditional and normal

convenience stores

bme phones convenience stores does not

have storage rooms

when blue phone order items they will

consider the location of items on each

shelf they will consider the height and

the width of the shells and they

consider the length of each product they

will be displaying on their shelves

and all this data is stored in belly

film’s algorithm where they can

they are able to calculate the best

possible item shelving strategies

the shelving of items in bielefon’s

convenience stores are very important

if the items are scattered on shelves

there is a possibility that 10

of shoving space will be wasted meaning

that there will be a reduction in items

displayed and fewer choices for

consumers

therefore the utilization of their

system can reduce

storage area increase choices of items

maintain the quality of their products

and also to reduce costs and therefore

reduce prices for

of products for consumers bluefong’s

entire supply chain is fully digitalized

and also undergoes digital

transformation their system also

calculates the number of items needed to

be produced

every day and an estimate of the amount

of time needed for each product to be

produced

transported and then sold this not only

increases the efficiency within their

supply chain

but also minimizes the amount of voice

that is produced

other aspects such as the location of

convenience stores are also decided by

the system

where it can help is the ble phone’s

team to decide

where to locate their stores ble phone

would

assign their most capable worker to

calculate and find decisions with

regards to

several issues and to compare their

workers results with the system

if a mistake or bug appears in their

algorithm due to

the unpredictability and the

response as the complication of from our

markets

the system will be regenerated into a

more advanced system

what this means in simple terms for

consumers is that the cost of products

is reduced

less time is spent and we are able to

gain better products and experience

better services

this use of technology is example of

digital transformation

where decision making and solutions can

be made by digital systems

this helps business to achieve their

main targets of

efficiency agility consumer satisfaction

and profitability

their advanced system allows beyond

phone to experience digital

transformation

and allows bialyfong to achieve a huge

success in the convenience store

industry

digital transformation does not only

apply to the market of purchasing goods

it applies to many different types of

businesses and it has

unlimited possibilities the digital age

we are in right now requires businesses

to undergo digital transformation to

gain a more competitive stance within

the market

the world we are in is very

unpredictable and there are always rapid

changes in every hour

every minute and every second the

current pandemic is an example that has

changed our markets drastically

and our perspective of the world

therefore changes in the business model

and behavior is important

and taking advantage of the technology

we have is definitely a way in

which our businesses can move swiftly

with these changes

a business that experience digital

transformation can have

unlimited potential and endless

possibilities

thank you