Abstract
The ongoing globalization process has been intensified with the constant evolution of technology, which leads companies to face digital transformation as both mandatory to guarantee their survival and essential to create value for their customers. Starting from digital transformation, this chapter's mission is to promote a generic theoretical framework in this very relevant topic, supported on a literature review of the research that has been developed over the years. It will also present the case study of a Portuguese company, Consumers Trust, better known in Portugal as “O Portal da Queixa.” Qualitative research will be undertaken using interview and content analysis. Its main objective is to understand and explain the causes and effects of this concept that, despite having originated the scientific research mentioned, in particular in these last two years, as a result of the COVID-19 pandemic, have not been explored enough and therefore are not yet consensual.
TopLong ago, it dates to the oldest time of humanity, that the human being generates and stores information (data). When these are used through electronic technology, they become known as “Digital”, thus giving rise to the “Age of Digitization and Information”. Transformation is an act, process or instance of transforming or being transformed. We can then argue that digital transformation will be the way we transform the use of this data used through electronic technology. However, the existing literature shows that there are different understandings and meanings about what digital transformation is. Perdomo (2019) claims that the term has been widely used in recent years, and summarized, as can be seen in table 1, the perspectives of some authors.
Key Terms in this Chapter
Internet of Things: Well known by its acronym, IoT, it is the ability of some device, or “thing”, to be able to collect and transmit data, through an internet connection and Bluetooth.
Digital Transformation: Despite being a “digital” transformation, it is not only based on technological elements, since the true transformation is fundamentally human. It is a process of significant paradigm shift in the behavior and mentality of companies, with a structural change, in the search for efficiency and innovation, changing the way in which it operates and reaches its customers, using technology as a resource for your business solutions.
Artificial Intelligence: The concept concerns the use of technological solutions so that machines can simulate human capabilities linked to intelligence.
Disruption: New product or service that changes the market (or creates a new one) for customers, competitors, and market leaders.
aaS: It is the acronym for “as a service”. It is a business model in the cloud that is the technological essence of the on-demand offer, as the customer chooses the service it wants and pays a price for it, as a subscription. The customer receives the data to access the service while the provider is responsible for providing and maintaining the necessary structure.
Digital Maturity: Digital maturity is closely linked to the level of improvement that companies reach, after adopting new digital technologies to create process automation, operations, and internal/external customer satisfaction.
Business model: Description of how a company develops its activities, what it offers (value proposition), to whom (segmentation) and what it represents in financial terms (revenue streams and cost structure). It’s all about creating value for the company, customers, and society.
Digitalization: Digitalization is the transformation of something analog/physical to digital.