The Impact of Digital Transformation on Business Models: A Bibliometric Study

Main Article Content

Loso Judijanto

Abstract

This study explores the impact of digital transformation on business models through a bibliometric analysis of research indexed in the Scopus database, utilizing VOSviewer for data visualization. The analysis identifies "digital transformation" as a central theme, closely linked to emerging technologies such as artificial intelligence, big data, blockchain, and IoT, which are driving innovation and reshaping traditional business practices. Key research clusters highlight themes of strategic alignment, data-driven decision-making, and technological infrastructure as critical enablers of transformation. Additionally, sustainability and economic inclusivity emerge as new areas of focus, emphasizing the broader societal implications of digital transformation. Geographic and collaborative patterns reveal strong contributions from countries like the United States, China, and Germany, underscoring the global and interdisciplinary nature of the research. Despite the progress, challenges such as cybersecurity, cultural adaptation, and long-term resilience remain underexplored, offering directions for future research. This study provides valuable insights for academics and practitioners seeking to navigate the evolving landscape of digital transformation and business model innovation.

Article Details

How to Cite
Judijanto, L. (2025). The Impact of Digital Transformation on Business Models: A Bibliometric Study. The Eastasouth Management and Business, 3(02), 255–267. https://doi.org/10.58812/esmb.v3i02.424
Section
Articles

References

A. G. Frank, G. H. S. Mendes, N. F. Ayala, and A. Ghezzi, “Servitization and Industry 4.0 convergence in the digital transformation of product firms: A business model innovation perspective,” Technol. Forecast. Soc. Change, vol. 141, pp. 341–351, 2019.

V. Kozlovtseva, M. Demianchuk, V. Koval, V. Hordopolov, and D. Atstaja, “Ensuring sustainable development of enterprises in the conditions of digital transformations,” in E3S Web of Conferences, 2021, p. 2002.

E. Feyen, J. Frost, L. Gambacorta, H. Natarajan, and M. Saal, “Fintech and the digital transformation of financial services: implications for market structure and public policy,” BIS Pap., 2021.

X. Qiang, “Digital Transformation in the Financial Sector Through Fintech,” Adv. Econ. Manag. Polit. Sci., vol. 76, pp. 226–234, Apr. 2024, doi: 10.54254/2754-1169/76/20241656.

R. G. Fichman, B. L. Dos Santos, and Z. Zheng, “Digital innovation as a fundamental and powerful concept in the information systems curriculum,” MIS Q. Manag. Inf. Syst., vol. 38, no. 2, pp. 329–353, 2014, doi: 10.25300/misq/2014/38.2.01.

C. S. Cagatin, “The societal transformation: The role of social networking platforms in shaping the digital age,” Interdiscip. Soc. Stud., vol. 3, no. 3, pp. 103–107, 2024.

P. Delias and F. C. Kitsios, “Operational research and business intelligence as drivers for digital transformation,” Oper. Res., vol. 23, no. 3, p. 45, 2023.

L. Anatan and Nur, “Micro, Small, and Medium Enterprises’ Readiness for Digital Transformation in Indonesia,” Economies, vol. 11, no. 6, p. 156, 2023.

S. J. Berman, “Digital transformation: opportunities to create new business models,” Strateg. Leadersh., vol. 40, no. 2, pp. 16–24, 2012.

G. Westerman, D. Bonnet, and A. McAfee, Leading digital: Turning technology into business transformation. Harvard Business Press, 2014.

F. Li, “The digital transformation of business models in the creative industries: A holistic framework and emerging trends,” Technovation, vol. 92, p. 102012, 2020.

D. L. Rogers, The digital transformation playbook: Rethink your business for the digital age. Columbia University Press, 2016.

S. Vincent Jaiwant, “Changing Structure of Consumer Buying Behaviour and Expectation in the Digital Era,” in Industry 4.0 and the Digital Transformation of International Business, Springer, 2023, pp. 207–215.

A. Naim and H. Alqahtani, “Role of IoT in Industrial Transformation and Marketing Management,” in Global Applications of the Internet of Things in Digital Marketing, IGI Global, 2023, pp. 67–93.

G. George and S. J. D. Schillebeeckx, “Digital transformation, sustainability, and purpose in the multinational enterprise,” J. World Bus., vol. 57, no. 3, p. 101326, 2022.

P. C. Verhoef et al., “Digital transformation: A multidisciplinary reflection and research agenda,” J. Bus. Res., vol. 122, pp. 889–901, 2021.

Y. K. Dwivedi et al., “Opinion Paper:‘So what if ChatGPT wrote it?’ Multidisciplinary perspectives on opportunities, challenges and implications of generative conversational AI for research, practice and policy,” Int. J. Inf. Manage., vol. 71, p. 102642, 2023.

K. S. R. Warner and M. Wäger, “Building dynamic capabilities for digital transformation: An ongoing process of strategic renewal,” Long Range Plann., vol. 52, no. 3, pp. 326–349, 2019.

E. Oztemel and S. Gursev, “Literature review of Industry 4.0 and related technologies,” J. Intell. Manuf., vol. 31, no. 1, pp. 127–182, 2020.

M. Ghobakhloo, “Industry 4.0, digitization, and opportunities for sustainability,” J. Clean. Prod., vol. 252, p. 119869, 2020.

C. Loebbecke and A. Picot, “Reflections on societal and business model transformation arising from digitization and big data analytics: A research agenda,” J. Strateg. Inf. Syst., vol. 24, no. 3, pp. 149–157, 2015.

L. Li, F. Su, W. Zhang, and J. Mao, “Digital transformation by SME entrepreneurs: A capability perspective,” Inf. Syst. J., vol. 28, no. 6, pp. 1129–1157, 2018.

D. V Dimitrov, “Medical internet of things and big data in healthcare,” Healthc. Inform. Res., vol. 22, no. 3, pp. 156–163, 2016.

A. McAfee, E. Brynjolfsson, T. H. Davenport, D. J. Patil, and D. Barton, “Big data: the management revolution,” Harv. Bus. Rev., vol. 90, no. 10, pp. 60–68, 2012.

A. S. Bharadwaj, S. G. Bharadwaj, and B. R. Konsynski, “Information technology effects on firm performance as measured by Tobin’s q,” Manage. Sci., vol. 45, no. 7, pp. 1008–1024, 1999.

M. Aliardo, “The Challenges of Leadership in Indonesia in Implementing the Digital Transformation of Community 5.0 in the Context of Improving MSME Capacity,” Ilomata Int. J. Manag., vol. 3, no. 2, pp. 166–174, 2022.