Digital Transformation Flashcards
Digitisation
process of converting analogue or physical material to a digital format.
Digitalisation
process of moving to a digital business by using digital technology and digitally enabled techniques to allow or enhance business models and processes.
example Netflix then turned to digitalisation when internet speeds became fast enough, and now you can subscribe to get movies and shows streamed at the click of a button.
Digital transformation
transforming the organisation’s corporate culture to thrive in digital.
Cloud computing
is characterised as the on-demand delivery of computational power, data storage resources, software, and other IT resources through an internet-based platform run on interconnected servers.
The Internet of Things (IoT)
set of network-enabled devices that don’t include conventional computers such as laptops and servers.
IoT devices include ‘smart’ appliances that gather various data sets and stores them locally or on servers in the cloud.
Such devices can include smart refrigerators and thermostats, home surveillance systems, computer peripherals such as webcams and printers, wearable technology such as Apple watches, routers, and smart assistant devices such as Google Home or Amazon Alexa enabled devices.
Big data and data modelling
Since data is essential for many IT applications, data modelling, which deals with efficient data storage for conventional data sources, is highly valuable.
Data analytics
The method of extracting meaning from raw data using advanced computer systems and software modelling is known as data analytics.
There are three types of data analytics: descriptive analytics, predictive analytics, and prescriptive analytics.
Descriptive analytics deals with data analysis to retain a description of historical data to provide valuable knowledge.
Predictive analytics uses complex algorithms and historical data to determine the probability of possible consequences of potential actions.
Finally, prescriptive analytics seeks the best way forward based on a problem’s constraints and goals.
Using data analytics to further extract information from big data can help organisations predict what customers’ requirements will be next.
It can also provide insight into how a business is performing and if its strategy is working.
Artificial intelligence and machine learning
are intricately linked. Because of this relationship, when you compare AI to machine learning, you are actually comparing their interdependence on one another.
Artificial intelligence
ability to imitate human cognitive processes such as learning and problem-solving.
Machine learning
is regarded as a branch of artificial intelligence. Machine learning is an example of an AI program. It’s the method of using mathematical data models to assist a machine in learning without direct guidance. This allows a computer system to learn and develop continuously on its own, based on its own experience.
5G
standalone networks provide ultra-reliable, ultra-high-speed, secured communications that meet business and mission needs to transfer all kinds of data.
Blockchain
rovide transactional databases that allow peers to transact with each other at any time. All of these connected databases need to approve the transaction, thus providing highly secure and private transactions to take place.
Cybersecurity
is therefore absolutely critical to implement throughout the entire technological stack. Securing data, access, IT networks, and the web, to name a few, will continue to be a challenge for organisations and countries wanting to participate in Industry 4.0.
