Digital economy as a foundation for creating digital strategies of enterprises

Abstract

This article delves into the pivotal role of the digital economy as a cornerstone for developing robust digital strategies within enterprises. The digital economy, leveraging cutting-edge technologies such as big data, artificial intelligence (AI), the Internet of Things (IoT), and cloud computing, is fundamentally transforming traditional business processes and significantly enhancing the competitiveness of companies. This transformation is not just a trend but a necessity for modern enterprises striving to remain relevant and competitive in an increasingly digital marketplace. The primary focus of this article is to explore the main components of an effective digital strategy. These components include assessing an enterprise's readiness for digital transformation, setting clear and achievable strategic goals, and developing a comprehensive plan for technology implementation.  Integrating digital solutions into existing business processes and establishing ongoing monitoring and optimization mechanisms are also essential steps to ensure the continuous improvement and adaptation of the digital strategy. Moreover, the article emphasizes the critical role of digital strategy within the overall business strategy. It highlights how digital strategies can enhance flexibility and adaptability, enabling enterprises to respond swiftly to rapid market changes and evolving customer demands. By integrating digital technologies, businesses can achieve greater operational efficiency, reduce costs, and unlock new opportunities for innovation and growth. Practical recommendations for implementing digital initiatives are provided, enabling enterprises to maximize the benefits of digital transformation. The proposed methodology for implementing a digital strategy covers all stages of the process, from the initial assessment of the current state of IT infrastructure to the utilization of advanced analytics for informed decision-making.