Digital transformation, a process that reimagines business in the digital age, is crucial for organisations to remain competitive. Four strategic frameworks help guide this process: the SMAC stack, digital business ecosystem, the experience economy, and platform business models.
The SMAC stack (social, mobile, analytics, cloud) combines four technologies that drive digital business innovation. This stack is a foundation for digital transformation, offering a way to connect with customers, analyse data, and deliver services.
The digital business ecosystem is a network of businesses, individuals, and processes that interact to deliver value. It promotes collaboration, innovation, and value creation, helping businesses to adapt and thrive in the digital age.
The experience economy focuses on creating memorable experiences for customers. By offering unique experiences, businesses can differentiate themselves and build customer loyalty.
Platform business models use technology to connect businesses and customers. These models disrupt traditional industries by providing new ways of delivering services and creating value.
These four frameworks provide a comprehensive approach to digital transformation. By adopting these models, organisations can navigate the complexities of the digital age and ensure their continued success.
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