The Impact of Digital Transformation on Business Models and Strategies of Enterprises: Analysis of Trends and Challenges

The extensive advancement of digital technology within the framework of the fourth industrial revolution presents potential consumers and stakeholders with a plethora of tools. However, determining the optimal digital path for transforming business strategies and models becomes challenging. The objective of this study is to pinpoint the most advantageous areas for investing in the digital transformation of business activities. The use of cross-iteration ranking technology allowed us to identify a wide range of relevant independent expert resources (25 organisations), based on their personal ratings, a set of available digital solutions for transforming business models and strategies (36 digital tools) was formed. Among them, the optimal areas for investment financial flows (5 digital technologies) were selected, which have the highest potential for modernising business processes. The obtained potential investment areas are medium and independent. It was found that the key area of investment in the digital transformation of business models and business strategies is automation and cybersecurity. Further research is aimed at expanding the sample of expert organisations (to increase the level of reliability) and modelling the likely development of certain types of business structures affected by digital transformation (to develop tools for preliminary determination of appropriate areas of digital development). Limitations of the study include the methodological framework, as well as the timeframe and scope of the dataset, which may affect the overall context and universality of the results.