What does "digital platform" mean in modern business? 🔊
A "digital platform" in modern business refers to an online environment that facilitates interactions between users, businesses, and services. This could encompass marketplaces, social media, or collaborative tools that enable transactions, communication, and content sharing. Digital platforms leverage data analytics and user-generated content to enhance user experiences and establish network effects, attracting more participants. Companies like Amazon and Airbnb exemplify this model, providing ecosystems that connect providers with consumers efficiently. Ultimately, digital platforms are transforming traditional business models by enabling greater connectivity and scalability.
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