Structural Equation Modelling of Digital Transformation Process of Thailand Agriculture & Food Industry

Abstract

The research objectives were to develop the digital transformation process measurement model and to study the correlation structure between the digital transformation process and firm outcomes. The population consisted of 466 agriculture & food industry companies in Thailand. Data were collected by online questionnaire from an entrepreneur/chairman/executive of each company, and 224 responses were received. The data were analyzed by exploratory factor analysis, confirmatory factor analysis, and path analysis. The results showed that the newly developed digital transformation process was consistent with the empirical data and this results in 3 steps of the digital technology operation process which are (1) the internet of things (2) big data (3) the platform business model. In addition, the digital transformation process had a statistically significant positive influence on firm outcomes. The digital transformation process could be a guideline for the digital transformation of the agriculture & food industry to be successful in the digital economy era.