What Is...Digitization?
Digitization is the process of converting a physical or analog object to an electronic format. For example, scanning a photograph or document is one step in digitizing an object, but it is not the only step, nor is it the first step. The first step in digitization is planning the project. Part of the planning process includes selecting an appropriate resolution for scanning and file naming convention. Once the project is planned, then you can move onto the scanning portion of the project. Next, metadata is added to make the object discoverable. Metadata may be embedded into the file directly, or stored in a separate document such as a spreadsheet with fields to connect to the file name. The digital files are saved in multiple places to keep them safe. The files are uploaded to a website or other Digital Asset Management System so that they can be accessed remotely by users. After the digital object is created and made available, there is still an ongoing maintenance regimen to ensure that the file does not become corrupt overtime.

Representations of 3-dimensional objects may be digitized as well through digital photography or video. Additionally, analog recordings such as cassettes or records can be digitized with proper equipment.
Metadata captured for a document might include the title, the agency to which the document relates, when it was written and more.
Metadata captured for a photograph might include the photographer, names of people in the photograph, the agency to which the photograph relates, and more.
Alternatively, born-digital media, is exactly what it sounds like: content that was created in a digital environment. It could be an email typed on a keyboard, a photograph from a digital camera, or a computer software system. While the first two can be printed out to create access copies, the digital nature of their original means that some information is lost when this is done. However, while these files do not need to be converted to a digital format, they may need to be reformatted to a different digital format. The e-mail might be saved as a PDF so that it can be accessed despite future digital obsolescence, without a password, and without risk of accidental alteration.
The advantages of digitization are numerous. Fragile objects can be scanned and the facsimile access copy used in their place preventing the risk of damage to the original item. Digital versions of objects may be posted online so that researchers from around the globe can access the digitized versions of items from the comfort of their own homes. Researchers can access content more quickly when it is available online.
The costs of digitization can add up quickly. They include the technological costs of scanners and hard drives, and long-term expenses to maintain cloud or other storage. They also include the cost of having trained staff planning the project, performing the scanning, writing the metadata, and conducting ongoing maintenance.
Learn More:
ARMA Magazine: QC-ing the QC
Library of Congress: Life Cycle Models for Digital Stewardship
National Archives and Records Administration: Webinar on Digitizing Permanent Records
Society of American Archivists: Dictionary of Archives Terminology