- Feasibility studies are important because they force you consider the big picture first and then think in a top-down fashion.
- In this way, one or two general starter questions lead to a host of additional, more detailed questions that become increasingly narrower in focus as you get closer to reaching an ultimate answer. For example, asking whether anyone will buy your new-and-improved product and whether it will generate a profit creates additional questions that force you to consider customer need and possible competition, and to identify risks that you may face. You must also describe your product and its benefits, define your target market, and calculate cost along with break-even and profit points..
The definition of digital transformation.
Digital transformation is the process of using digital technologies to create new — or modify existing — business processes, culture, and customer experiences to meet changing business and market requirements. This reimagining of business in the digital age is digital transformation.