Decision-making – Digitization – Industry 4.0

Description

The focus of this study is to illuminate the impact of digitalization that plays an outstanding role in Industry 4.0 on management’s decision-making. The fourth industrial revolution, often identified by industry 4.0 terminology, is increasingly forcing changes from all contributors to socio-economic ecosystems. These forced corrections affect households and government areas to varying degrees but are mainly reorganized by the operation of the corporate sector. The methodology of the research was a bibliographic analysis. The author comes to several conclusions based on the processing of relevant literature. First, because of Industry 4.0, the business sector is facing a paradigm shift. Second: Digitization has also positively affected all decision-making points, obtaining, processing, transmission, and ways to apply it in decisions. Third: Industry 4.0 does not fundamentally change the standard management features of the corporate sector, but leaders need to learn decision support applications. Fourth: The increasingly innovative digitization tools of the new industrial revolution facilitate critical management and high-quality decision-making.