Defining a platform is complex due to the term’s broad usage across different contexts. A platform can be a product or service that enables other products or services, or it can be a foundation on which other applications, processes or technologies are developed. In technology, platforms are often categorised into three types: computing platforms, like operating systems; utility platforms, which provide a set of services via APIs; and interaction platforms, which facilitate interactions between multiple parties.
Platforms can also be classified based on their openness. Open platforms allow third-party developers to create services or products using their technology, while closed platforms restrict this. Additionally, platforms can be either internal, used within an organisation, or external, used by customers or partners.
Platforms have become an integral part of the digital economy due to their ability to create value by facilitating connections and interactions. They can generate network effects, where the value of the platform increases as more people use it. However, managing a platform can be challenging due to the need to balance the interests of different stakeholders.
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