The Impact of Digitalization on Business Models

The fast-paced technological development allows industries to achieve higher efficiency and innovative strategies. The great deal of data generated every second opens up opportunities to understand what the customer really needs. Real-time analytics is the answer to the sustainable and innovation-seeking business models. The digital revolution has already took place while fostering markets by the supply of large amounts of data. The extensive computing power is necessary to stay competitive in the market. The real-time data result in instant changes in the business processes thus having an impact on business models.