Systematic Review of Digital Business Strategy Transformation in Innovation, Technology, and Industry 4.0 Models

Abstract

The advancement of digital technology has compelled organizations to fundamentally transform their business models and strategies to remain relevant in the era of Industry 4.0. This study aims to develop a thematic mapping of digital business strategies using a Systematic Literature Review (SLR) approach, analyzing scholarly articles published. The analysis reveals two main themes: digital innovation and data-driven approaches. Digital innovation, through the adoption of technologies such as AI, IoT, and big data, plays a critical role in value creation and competitive advantage. Meanwhile, data-driven approaches support analytics-based decision-making and the transformation of business models toward adaptive digital platforms. Three dominant strategic approaches identified are Digital Open Innovation, the Agile Strategy Framework, and the Co-creation Ecosystem Model. The study also highlights key challenges in implementing digital strategies, including limited analytical capabilities, organizational resistance, and ethical issues related to data use. Therefore, digital strategies must be holistic and focus on the synergy between technology, people, and leadership. This study offers both conceptual and practical contributions to the development of adaptive and sustainable digital business strategies.