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Definitions of digital business
Digital transformation refers to the changes associated with the application of digital technology in all aspects of human society.
Digital transformation may be thought as the third stage of embracing digital technologies:
Digitalization is the transformative process for turning digitized resources into new sources of revenue, growth and operational results. Creating a competitive premium is the goal of a digital business. Digital businesses create competitive edges based on unique combinations of digital and physical resources. Apart from that, Digital business process reefers to performing the business tasks using the internet sources that helps to meet the business outcome in less time and more creative manners (Palvia, 2009). This involves use of different sources like mobile, internet, social media and could compute. According to definition, it is been understand that digital business process is helpful for business organizations to expand the business by using the internet tools and different technologies of ICT that would be beneficial for managing customized approach and process of maintaining relations with the customers to have long term business.
Criticism of definitions
According to definitions, digital business is creative approach and process of planning and managing the business activities that supporting to achieve the objectives more customized manners but lack of understanding and knowledge about the utilization of functions affecting the business outcome. Digitalization is the transformative process for turning digitized resources into new sources of revenue, growth and operational results. However it is good for the business and expanding the business but it requires high amount of investment and team of experts to monitor the approach. It influences the imitational decision of organization to prefer digital business. Apart from that, I am agree with the definitions that provided by the different authors.
Real or marketing hype
According to me, digital business in current situation is just marketing hype as the organizations are promoting their business by using the internet and ICT tools. By using these tools of ICT the organizations managing the relations, collecting the feedback and offering the information to the potential group of customers (Jain.et.al. 2013).
As per the diagram, it is been considered that planning of the digital business is influenced by growth in different sectors that are using the ICT tools for marketing and offering the business information to the suppliers and customers. By following those trends the international business organizations are adopting the changes and implementing the digital business tools for marketing and creating the awareness in the areas of business to achieve the goal and objectives.
Disruptive trends of internet
Following are the major trends of planning and performing the digital business:
- Cloud computing: According to analysis, the lack of knowledge about the cloud computing tools and technology is major setback for the digital business planning and development. This is an emerging trend in the digital business which has potential to grow and meet the objectives of business.
- Internet of things: According to definitions of the digital business, internet has significant impact on the business planning of the organization but regular modification and changes in the business environment might affecting the process of digital business. The basic element of digital business is internet as communication and collection of the information is being done through this to create awareness (Kassim and Asiah. 2010).
- Social media: This is one of the most preferred digital business tools of ICT that helping in the marketing and built communication with the target people.
Characteristics of big data
- Volume: The quantity of generated and stored data. The size of the data determines the value and potential insight- and whether it can actually be considered big data or not.
- Variety: The type and nature of the data. This helps people who analyze it to effectively use the resulting insight.
- Velocity: In this context, the speed at which the data is generated and processed to meet the demands and challenges that lie in the path of growth and development.
Difference between web 1.0 and 2.0
Changes in site are difficult
Allows users to make changes
Simple in action
Low data traffic
High data traffic
Lack of social media appearance
Offering the tools for social media
Myths about cloud computing
Cloud is data centre: Most cloud decisions are not (and should not be) about completely shutting down data centers and moving everything to the cloud. Nor should a cloud strategy be equated with a data center strategy. If things are moved out of the data center, there are implications (Lawrence and Tar, 2010). It helps to manage and collect the data from the different sources and use according to need of the organization and management.
Books and journals
Palvia, P. 2009. The role of trust in e-commerce relational exchange: A unified model. Information & management. 46(4). Pp.213-220.
Jain, N., Ahuja, V. and Medury, Y., 2013. Effective Web Management for 82c E-commerce in India. Metamorphosis-A Journal of Management Research,12(1), pp.65-78.
Kassim, N. and Asiah. N. 2010. The effect of perceived service quality dimensions on customer satisfaction, trust, and loyalty in e-commerce settings: a cross cultural analysis. Asia Pacific Journal of Marketing and Logistics. 22(3). Pp.351-371.
Lawrence, J. E. and Tar, U. A. 2010. Barriers to E-commerce in Developing Countries. Information, society and justice journal. 3(1). Pp. 23-35.
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