THE IMPACT OF DIGITAL TRANSFORMATION ON BUSINESS PERFORMANCE
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THE IMPACT OF DIGITAL TRANSFORMATION ON BUSINESS PERFORMANCE
This study aims to: (1) examine the relationship between digital transformation and business performance, (2) identify key digital transformation strategies that enhance business performance, and (3) assess the role of technology adoption in driving performance metrics. A survey design was chosen for its ability to gather quantitative data from a broad audience, ensuring comprehensive insights into the impact of digital transformation. The sample size was determined using Taro Yamane's formula, resulting in a sample of 384 respondents from the population of businesses in Lagos, ensuring statistical significance and representativeness. The case study focuses on the retail sector, given its dynamic nature and high rate of digital adoption. The reliability coefficient score of the survey instrument was 0.87, indicating high reliability. Findings reveal that businesses engaging in digital transformation experience significant improvements in operational efficiency, customer satisfaction, and overall financial performance. The study recommends that companies should prioritize the integration of digital technologies, invest in employee training, and continuously monitor technological trends to sustain competitive advantage.
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