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Digitization describes the pure analog-to-digital conversion of existing data and documents. Think scanning a photograph or converting a paper document to PDF format. The data itself is not changed, rather it is encoded in a digital format. On the other hand, Digitalization refers to transforming a business process by leveraging digital technologies,often resulting in opportunities for efficiencies and increased revenue.An example is using digital technology to transform a reporting process,collecting and analyzing data in real-time and using analytics to mitigate risk and promote efficiency in business.

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