04/06/2015

Businesses and Industries Transformed by Digitization

Everywhere you look, companies and industries are being transformed by the digitization of information and products. You have probably already noticed it in your homes as you have stopped wearing watches and now use your smartphone to help you tell the time. It is also possible you carry an e-reader to read all of your favorite novels and papers. Another example, instead of reading this article in a magazine or on your desktop computer, you might be reading this on your tablet or other iDevice. This is because digitization has radically transformed the business world destroying decades-old business models for newer technology.

The News Industry

Everyone knows that the newspaper industry is in trouble. This is because people are increasingly getting their news online and for free. This has forced newspapers to figure out a way to adapt. Newspapers have resorted to giving news away for free online to keep their business viable. Furthermore, they are monetizing their sites through the use of advertisements, and some have resorted to becoming an online subscription service. Others have stopped producing content in print altogether and switched being to an online-only news source.



Camera Manufacturing

With the advent of digital cameras, the need for film and film development has decreased significantly. People are no longer taking pictures on rolls of film but are saving shots to their SD cards or with their smartphones. This is one of the reasons why Polaroid had stopped making their signature instant photo cameras. Photo developers have also had to change their model by offering digital upload services as well as printing for their customers.

Bookstores

One industry that was significantly changed by the digitization of information was bookstores. Many bookstores have gone out of business due to the invention of e-readers and digital books. Today, people can purchase, download, and read books all within a matter of seconds. Companies have found that customers still want to buy books, just in digital form. So, to compete with the online retailers, brick and mortar booksellers have had to make a change in the way they sell books. You will see companies like Barnes and Nobel offering digital books and e-readers to their customers as well as traditional books.

The Music Industry

When was the last time that you purchased an actual compact disk or other physical copy of a music album? It has probably been a while, and you probably transferred that CD to your iPod or another mp3 player. This is because the music industry has had a dramatic shift in the way that it sells its merchandise. Some bands give out their new albums for free to fans and make all their money off of promotional items. Another way in which the music industry has changed due to digitization is that they have begun selling millions of downloads of single songs rather than entire albums.

Travel Industry

One of the most drastically changed industries is the travel industry. They now offer more transparency in their prices because of how quickly customers can find these prices online. They have had to make their prices more competitive and have had to offer incentives to get customers to go with their company over another hotel or airline. It is an excellent opportunity for consumers who have been able to save money on vacations giving them more money to spend while away.

Author: Lautaro Martinez is a tech blogger who often discusses the ways in which digital technology has come to enhance our lives and our businesses. Another way in which digitization has made things better is in paperless technology, things like scanner software available at www.lucion.com. You can learn more about Lautaro on Google+.
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