Chapter 6 Digital Business Models
Data is the new oil.
Clive Humby, 2006
A business model describes how a company expects to create and capture value through its strategy. It’s a core strategic choice every company must make: decide the specific customer problem it is attempting to solve (value creation) for which customers are willing to pay a price (value capture). Like businesses, business models have existed practically for ever. A company (or an individual) would use certain inputs to produce an output which it would then sell to customers for a profit; that’s its business model. What makes a business model digital is the use of digital technologies to create and capture value. Business models that used ...
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