Digital Business Metrics
With the current trends in the global economy, organization digitalization of the business models has been at the forefront of reshaping business metrics in organizations thereof. Organizations are digitalizing most of their processes and operations since it is presumed that the digitalization of businesses is strongly aligned with higher performances and build-up of definite competitive advantage to the organization. The article Measuring Digitalization-Key Metrics by Marcin KOTARBA provides an analysis of metrics essential in measuring digitalization and associated activities (Kotarba, 2017). In this article, Marcin analyzes five levels of measuring digital activities by shifting the digital economy to societies, industries, enterprises, and clients. Through this article, digital entrepreneurs can understand the leading public and commercial metrics vital in evaluating digital progress. Furthermore, the article provides similarities and differences arising from key performing indicators, which facilitates the formation of concrete conclusions and potential improvements for the scope and maturity of the metrics.
From this article, I have gained two takeaways vital for my digital business career in the future. First, I have understood that companies and organizations investing in digital businesses have a higher chance of improving their performances and growth levels within 3 to 5 years of investment. Therefore, various governments are expecting the tangible benefits of digitalization to societies and individuals in general. The second takeaway from Marcin’s publication is that digitalization is used and defined differently by different economic participants. For instance, in digital economy metrics, there is the widespread usage of ICTs for e-business and e-commerce (Kotarba, 2017). That is why Marcin concludes that there were significant efforts directed towards the development of digitalization metrics. As the digital world evolves to impress the rapid changes in the world of business, there is a need to harmonize the details in digital business metrics for better measurements.
References
Kotarba, M. (2017). Measuring digitalization–key metrics. Foundations of Management, 9(1), 123-138.