Digital transformation: A multidisciplinary reflection and research agenda

Verhoef, Peter C.; Broekhuizen, Thijs; Bart, Yakov; Bhattacharya, Abhi; Dong, John Qi; Fabian, Nicolai Etienne; Haenlein, Michael

doi:10.1016/j.jbusres.2019.09.022

Cited by 2,486 publications

(2,015 citation statements)

References 81 publications

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“…In each economic industry the most progressive companies that embarked on the path of digital transformation are building new digital business models of direct network interaction. The synergy effect of systemic business interaction increases due to profit growth, customer satisfaction, improving business efficiency, and reduced transaction costs (Verhoef et al, 2019).…”

Section: Resultsmentioning

confidence: 99%

Features Of The Transformational Changes Of Business Structures In The Digital Economy

Efremova¹,

Petryanina²

2020

European Proceedings of Social and Behavioural Sciences

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Section: Resultsmentioning

confidence: 99%

Features Of The Transformational Changes Of Business Structures In The Digital Economy

Efremova¹,

Petryanina²

2020

European Proceedings of Social and Behavioural Sciences

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“…However, recent studies have shown that digitalization is a challenging endeavor since there are several and complex factors driving the digitalization of people [ 20 ]. Then, this complex patterns suggests that a multidisciplinary approach is required to address digitalization [ 5 ]. In doing so, as Delen & Zolbanin [ 22 ] argue, machine learning techniques complement to the traditional research methods to address this sort of research questions.…”

Section: Methodsologymentioning

confidence: 99%

“…Despite incorporating online distribution channels two decades ago, and in spite of the renewed digitalization wave, banks continue to develop more information and systems-oriented business models. Digitalization is not only focused on cost savings, but also includes process improvements to enhance customer experiences [ 2 – 5 ]. This effort is driven by both rival precedence [ 6 , 7 ] and changes in demand [ 8 ].…”

Section: Introductionmentioning

confidence: 99%

“…However, while the initial adoption of digital services could be examined using standard parametric statistical methods, examining customers’ digital journey is more complex. Digitalization is a challenging endeavor where several factors drive digitalization decisions [ 5 , 20 ]. Machine learning methods have emerged as powerful tools for data mining [ 21 – 24 ].…”

Section: Introductionmentioning

confidence: 99%

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A machine learning approach to the digitalization of bank customers: Evidence from random and causal forests

2020

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Understanding the digital jump of bank customers is key to design strategies to bring on board and keep online users, as well as to explain the increasing competition from new providers of financial services (such as BigTech and FinTech). This paper employs a machine learning approach to examine the digitalization process of bank customers using a comprehensive consumer finance survey. By employing a set of algorithms (random forests, conditional inference trees and causal forests) this paper identities the features predicting bank customers’ digitalization process, illustrates the sequence of consumers’ decision-making actions and explores the existence of causal relationships in the digitalization process. Random forests are found to provide the highest performance–they accurately predict 88.41% of bank customers’ online banking adoption and usage decisions. We find that the adoption of digital banking services begins with information-based services (e.g., checking account balance), conditional on the awareness of the range of online services by customers, and then is followed by transactional services (e.g., online/mobile money transfer). The diversification of the use of online channels is explained by the consciousness about the range of services available and the safety perception. A certain degree of complementarity between bank and non-bank digital channels is also found. The treatment effect estimations of the causal forest algorithms confirm causality of the identified explanatory factors. These results suggest that banks should address the digital transformation of their customers by segmenting them according to their revealed preferences and offering them personalized digital services. Additionally, policymakers should promote financial digitalization, designing policies oriented towards making consumers aware of the range of online services available.

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“…They focus on different aspects and analyze the topic from different points of view. In particular, the influence of digitalization on the activity of the enterprise is raised by Chudaeva et al [11]; Trasca et al [12]; Lerch and Gotsch [13]; Brennen and Kreiss [14]; Verhoef et al [15]; and Singh and Hess [16]. In turn, Majerova [17]; Rachinger et al [18]; and Verhoef and Bijmolt [19] investigate its innovative and digital business models.…”

Section: Literature Reviewmentioning

confidence: 99%

Digitalization of the Marketing Activities of Enterprises: Case Study

et al. 2020

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The pace and scale of the digitalization of today's global information society open up new opportunities for business. At the same time, they set new challenges for business owners and managers in the field of marketing. Given this fact, the purpose of the study was to present the impact of digitalization on the marketing activity of the enterprise in the field of services by promoting the use of online sales via electronic distribution channels, social networks, and mobile applications. A comparative system of estimating the parameters of the influence of digitalization on the marketing activity of the enterprise was proposed as a confirmation of this impact. Based on the developed "tree of goals," the dynamics of the digitalization of services were projected and the prospects of development of this sphere of activity were outlined. For testing the proposed methodology, the railway passenger transportation company (JSC "Ukrzaliznytsia") was chosen as the object of the research. Research methods used in the study include: (1) statistical; (2) SWOT analysis; (3) systematization, comparative, and structural-dynamic analysis; and (4) an expert survey. As a result of revealing the impact of individual elements of digitalization on the level of marketing activity, the number of recommendations regarding the development of digitalization of electronic ticket sales services and their accounting for enterprises dealing with railway passenger transportation were proposed.

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Digital transformation: A multidisciplinary reflection and research agenda

Cited by 2,486 publications

References 81 publications

Features Of The Transformational Changes Of Business Structures In The Digital Economy

Features Of The Transformational Changes Of Business Structures In The Digital Economy

A machine learning approach to the digitalization of bank customers: Evidence from random and causal forests

Digitalization of the Marketing Activities of Enterprises: Case Study

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