Impact of Digital Technology on Business: A Research Skills Report

This report, focusing on research skills, examines the impact of digital technology on modern businesses. It delves into how digital tools and systems, such as smartphones and social media, are transforming various aspects of business operations. The report highlights the positive impacts of embracing digital technology, including cost savings, improved efficiency, and enhanced productivity through automation, data analytics, and digital workplaces. It also addresses the importance of digital transformation for staying competitive, the risks and rewards associated with digital strategies, and the benefits of digital tools in terms of global access, accessible banking, and increased knowledge and opportunities. The conclusion emphasizes the cost-effectiveness of digital technology, its role in enhancing revenue, reducing costs, and improving consumer experiences, while also touching on the significance of digital strategies in sustainability and safety within industries. The report includes references to support its findings.

Research Skills 1 – 010

TABLE OF CONTENT
Introduction.............................................................................................................3
MAIN BODY...........................................................................................................3
Conclusion................................................................................................................7
References................................................................................................................8

Introduction
Research skills focuses on the capability to search for, evaluate ,organise , locate as well
as use the present information that is appropriate a specified topic. Academic research is consider
as specific type of research as it is known as the process of detailed as well as methodical
investigation within some area of study. Present Report focuses on the digital technologies are
considered as electronic tools, resources, systems that able to generate process or store data
examples such as online games, social media as well as smart phones. Digital technology allows
immense amount of data that can be compressed on small storage devices that can be easily
transported as well as preserved and many more.
MAIN BODY
Digital Technology
Today’s Modern technology has transformed individual’s life by adding various benefits
to it. Nowadays people carry smart phones means they carry old age computer with them, a
camera with artificial intelligence and comfort and a storage device also. In today’s market
digital technology technologies are changes and evolving rapidly that turns in enhancing
competition as well as require for firm in order to innovate quickly.
Positive impact of embracing digital technology

In today’s business landscape is becoming more and more complex as it is the digital
strategy of a firm that can make or break an entity (Giones. and Brem, 2017). For the firm which
can be successful in 2020 and beyond that, it is crucial that to adapt several digital innovation in
order to aids them to accomplish their goals and objectives so that the firm can stay ahead of
their rivalries. While embracing digital technology can have various numbers of advantages for
the firm that pick up to do so.
Cost savings- Investing within the digital technologies can appears to be expensive but within
many cases it can be considered as cost effective decisions as it can aids to increases efficiency,
streamline processes, save business money and improves productivity. It can be complex to
embrace new technology ,especially when the entity is performing well in its current time. A
question came in mind that why fix something that is not broken? However, in short term
investing within digital can leads to long term business’s growth as well as decline if the
technology is not adopted rapidly (Knezović. and Greda, 2020).
Improved efficiency and enhance productivity- In order to achieve the success of the business,
productivity and efficiency plays a crucial role. It is the digital technology that aids improves
communication, content management, collaboration, access to social networking and analytics
data and consumers and employees experience. Successful firms are adapting technology in
order to creates digital workplaces that can improves business. Productivity ( maximizing output
and minimizes waste)- It is the digital technology that allows business to do more with less.
From data analytics to predictive maintenance, loT- enabled tracking to the automated
production lines, business can accomplish greater yield with fewer material, workforce and less
energy
It’s time for a digital transformation- Adapting complicated digital innovations can be also
concerns for many firms and thus they pick up to do nothing. As doing nothing within the fear of
the complexity in order to implementing digital technology can damage the ability of a firm to
succeed within future permanently. If a business if a firm grow in the 2020 then it is crucial to up
to date alongside digital technology. The phrase called digital transformation refers to the
activities of the innovative business in order to make the most of the opportunities presented
through digital technology. Adapting digital technology can transform positively the business

performance in order to enhance revenue, improves consumer experience and reduce costs
( Briken. And et.al., 2017).
Risk and reward
Digital must be at the heart of a business strategy as when making any transition to the strategy
of a business there will be risks and rewards both. Truth is that if someone want a form to
success regularly then one does not have a choice and require to adapt digital technology more
rapidly.
Keep individual updated
By the digital medium such apps, websites as several other digital platform no one can isolated
within the digital world. News and local events are updated consistently as users know what’s
happening around them as well as all over the world.
Speedy technology
Internet quality as well as speed has increased exponentially with the help of the digital
transformation strategy that leads to the advancements within the communication field. Faster
connection of the broadband provides the transfer of large amounts of information as well as data
all over the world. It makes it possible to stream audio and video files quicker and almost within
the real time. Sending large data files virtually from any part of the world are now considered as
matter of seconds. For example Apps and integration like WhatsApp and Google Assitant have
made our life so much resourceful and easier (Cottrell. and Morris, 2012).
Portable devices
One of the benefits of the modern digital technology is that it has made all gadgets and devices
handy and portable. The digital cameras, Smartphone, Bluetooth speakers, laptops , hard disk
drivers and many more that one can carry around are consider as some of the best example
regarding how digitalisation made people’s life more easier and simpler. Small data cards have
allows the storage of the massive amount of the data within very small spaces. Also large amount
of media, photos, videos, music, files, contact information as well as other documents can be
carried around on small devices such as Smart phones.

Automation
Digital technology enhancing making machines smarter leading to the higher production rate as
well as meet the expectations of the demand as well as supply curve. Within most of the cases ,
the modern machines no longer human involvement in order to operate as well as encourages
multi tasking among employees through giving them a chance so that explore others productive
areas.
Versatile
Within the digital age the nature of work has been transformed as increased connectivity has led
individuals in order to work online or home. Blogging, online selling and websites are
considered as various examples of how digital technology has transformed within various ways.
Compactness
Digital technology has allowed devices to be more compact, lighter, faster, and versatile. Large
amount of information and data can be stored or accessed remotely, locally, virtually instantly.
Global Access Advantage
Anyone with access to the internet now access to a huge proportion of the knowledge over the
web. Lesson and courses can now delivered online virtually (Cottrell. and Morris, 2012).
Accessible Banking finance
There is no doubt that digitalisation transformation has taken financial and banking matters
towards next level. Online buying, banking as well as selling, digital marketing and payments.
Digital signature can be easily utilised to validate integrity, authenticity of a digital.
Increased knowledge and opportunities
By the use of several digital tools , librarians, teachers can provides offers students increased
access to innovative opportunities and knowledge. The utilisation to the computer meditated
tools aids students from several geographical locations “talk” to each other as well as experts
from their own classrooms. There is an opportunity that can increases the learning process. In
addition to this Technology also offers students access of host of experience that cannot be

available by the traditional school formats (Hatlevik. and Christophersen, 2013). 3-D
Topographic maps, virtual museum tours, virtual dissection or several other rich experiences
tools enables individuals to extends their process of learning beyond the classroom without
avoiding or bunk the class room.
Sustainability meeting carbon challenge- by the help of the fully digitalised automated and
energy system in intelligent platforms enables businesses to monitor sustainability targets,
dramatically cut emissions, spot energy wastes. By the help of the right digital strategy, firms can
erases up to their carbon footprints up to 50%. Being sustainable not only protects the
environment but also at the same time strengthens brand image and consumer loyalty, enhances
share holder value and many more.
Safety i.e protecting workforce while encouraging efficiency
Within an industry, mining safety must never be an afterthought. In various dangerous situations
robotics can easily replace human intervention and virtual reality, artificial intelligence as well as
big data minimizes risks. From training by factory floor as well as hazardous mining operations,
it is the digital technology that can educate as well as protect the employees of the firm (Evers,
Cunningham. and Hoholm, 2014).
Conclusion
From the above it had been concluded that digital technology can appears to be expensive
but cost effective improves productivity. It Improved efficiency and enhance productivity also
enhance revenue, reduce costs and improves consumer experience. Digital technology also keep
individual updated, provides speedy technology, Faster broadband provides the transfer of large
data, stream audio and video files quicker. It made all devices portable, made people’s life easier
and enhancing making machines smarter, meet the expectations of the demand. It Encourages
multi tasking, devices to be more compact, faster, and versatile. The right digital strategy not
only protects the environment but also at the same time strengthens consumer loyalty ,protecting
workforce in dangerous situations such as robotics can easily replace human intervention and
saves the employees

References
Books and Journa
Briken, K., Chillas, S., Krzywdzinski, M. and Marks, A., 2017. Labour process theory and the
new digital workplace. Briken at al, pp.1-20.
Cottrell, S. and Morris, N., 2012. Study skills connected: using technology to support your
studies. Macmillan International Higher Education.
Evers, N., Cunningham, J. and Hoholm, T., 2014. Technology entrepreneurship: bringing
innovation to the marketplace. Macmillan International Higher Education.
Giones, F. and Brem, A., 2017. Digital technology entrepreneurship: A definition and research
agenda. Technology Innovation Management Review, 7(5).
Hatlevik, O.E. and Christophersen, K.A., 2013. Digital competence at the beginning of upper
secondary school: Identifying factors explaining digital inclusion. Computers &
Education, 63, pp.240-247.
Knezović, E. and Greda, N., 2020. Career development and affective commitment: a
comparative study of family and nonfamily businesses. Journal of Family Business
Management.