Digital transformation is not a new idea; it has been around for a while. Back then, the first commercial applications of computer-aided design and production could be found in the late 1970s. Companies began to see opportunities to use digital technology to increase efficiency, reduce costs, and gain competitive advantage. Over the following decades, digital transformation developed from a buzzword to a business strategy and is now widely implemented in many industries.

Since each company's digital transformation may appear different. However, we can describe the theory of digital transformation broadly as the integration of digital technology into every aspect of a business has a significant impact on how businesses run and provide value to their customers. Organizations must reconsider ingrained habits and welcome experimentation, even if it means accepting the rare setback.

The concept of Digital Transformation is to make technology the focal point of corporate planning. Operating costs and inefficiency can be decreased with this strategy. It might potentially alter the direction of your company. Future goals are simpler to accomplish with a unified business and technological paradigm. Digital transformation refers to this reinvention of company in the digital age.

As a result of digital transformation, businesses embed technologies to drive a significant change that results in increased efficiency, greater agility in their business processes. Ultimately, unlock new value for their employees, customers, and shareholders by enhancing the efficiency of their business.

Digital technology is changing the five domains of strategy: customer, competition, data, innovation, and value. It impacts how businesses connect with customers and compete with others in and outside the same industry, while also viewing data, strategically, innovating to create new ideas, and providing value to clients.
In Simple words :
1) Customers – Leverage of client networks
2) Competition – Build platforms rather than just products to compete
3) Data – Convert data into assets
4) Innovation – Drive innovation by continuous experimentation
5) Value – Adapt value strategy