On the trail of change through Digitalization
The era of digitalization is connected to an increase in productivity, mainly because of an increase in speeds. This can be expressed through Moore’s Law, which says that every 18 months the performance of microprocessors doubles by constant prices. Additionally, Gilder’s Law further proves that point, since it says that every six months the data transfer rate doubles by constant network technology. Speed is only affected by one dimension, efficiency.
The effectiveness of processes is neglected in favour of higher speeds, true to the motto: “If we are fast enough, we can run through the process twice.” Since the introduction of PCs, the internet and the smartphone many branches received an enormous advance in innovation through digitalization. Disruptive innovations and small seed capital enable the fast conversion of new it business models which can promptly displace established business models.
We think that digitalization is a means to an end. The digital recording of knowledge and information as well as the created surpluses, risks and interactions often build the foundation for our scientific analyses.