Open Source and Its Tools Are Critical to Modernization

I have always wondered what the exact definition of software modernization is. Is it upgrading the software technology stack to the current one? Is it bringing in process automation? Or, has it more to do with replacing custom build apps with COTS or vice-versa? Can it be as simple as bringing in a better hosting solution in the form of the cloud? On further reflecting on drivers and need for modernization, you realize that its more to do with:

Improving User Experience
Bringing in Agility and Efficiency
Reducing Cost
Entrusting better Operation Resilience

While many among us would have various definition of modernization, I would rather think of dividing modernization into five categories:

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