Digital platforms have revolutionized the way businesses operate and connect with their customers. These “platforms” provide a digital space where individuals and companies can interact with each other. As well as exchange information and services, and engage in transactions. Platforms have been used by companies across industries that we commonly see. Ranging from e-commerce giants like Amazon to social media platforms like Facebook, Instagram, and Twitter. The success of these companies is due to the power of their platforms, which have enabled them to scale rapidly and capture a significant share of their respective markets. It is easy to say that these digital platforms rule humans and their social communications.
Digital Platforms; continuum
These platforms are designed to give a range of services to their users- including communication, collaboration, and transactional capabilities. They typically operate on a network effect, where the value of the platform increases as more users join and interact with each other. This creates a virtuous cycle where the platform becomes more valuable to its users, which in turn attracts more users. Digital platforms have also enabled businesses to reach new customers and markets. They create new revenue streams, and build strong brand recognition. The world is becoming increasingly digitized, as we know. It’s important to note that digital platforms is only expected to grow even further since technology is always advancing. Many companies looking to develop their own platforms or partner with existing ones to expand their reach and market share.
The article “What is A Platform, Anyway” written by Mae Rice states that “platform is often used to describe either the foundations upon which software products are built. As well as the digital infrastructures that facilitate valuable interactions between participants. Often in the form of marketplace businesses, like eBay, or social networks, like Twitter).” The digital platform is a way for content in all of its different forms. Whether it be a text, a post, image, audio, whatever it may be in order to distribute it throughout the internet. It also allows people who create these platforms to have free roam to pick and chose whatever that platform may be.