Replatforming is one-to-one technical migration without any incremental changes or improvements. It is simple and straightforward, but is not sufficient in terms of returns and doesn't mitigate the problems an organization has
Unlike replatfomring, refactoring combines migration and optimization. It yields better performance compared the replatforming, but is riskier and harder to implement. It also fails to solve the governance problem
Redesign is a complete system overhaul. Potentially it leads to the best possible performance and allows to solve the majority of problems, but is extremely costly and almost impossible to pull off in a timely fashion