A STUDY ON IMPACT OF DIGITAL TRANSFORMATION ON BUSINESS STRATEGY

Abstract

In today's rapidly evolving business landscape, digital transformation has become an imperative for organizations aiming to stay competitive and relevant. The convergence of advanced technologies, such as artificial intelligence, data analytics, and cloud computing, has ushered in a new era of business operations and customer engagement. This article explores the profound impact of digital transformation on the formulation and execution of business strategies. Traditional business strategies often struggle to keep pace with the ever-accelerating digital advancements. Many organizations grapple with questions about how to adapt, integrate, and harness these technologies effectively. Understanding the implications of digital transformation on business strategy is crucial for maintaining competitiveness. This study aims to analyze how digital transformation influences the strategic planning process, assess the role of data-driven decision-making in shaping business strategies, and explore the challenges and opportunities that organizations encounter during digital transformation.