Digital transformation uses digital technologies to create value and new services for
stakeholders, to support innovation and to have the ability to rapidly adapt to changing circumstances.
While digital transformation is predominantly used in business it also impacts other organizations such as governments and public sector agencies. It can also be used by organizations involved in tackling social challenges such as pollution and the aging of the population by using existing and emerging digital technologies.
It has led to a profound transformation in the way that business is conducted with impacts on organizational functions, competencies, processes and models. In practice, customer experience optimization, flexibility in operations and innovation are key drivers for this transformation, along with the development of new revenue sources and information-powered systems of value which will lead to business model changes and new forms of digital processes.