How Legacy Businesses Can Compete in the Sharing Economy
By harnessing sensor data from the internet of things, providers of traditional products and services can participate in the sharing economy — boosting revenue in the process.
The term platform is commonly associated with vibrant ecosystems that connect various sets of users — drivers with riders (Uber), property owners with renters (Airbnb), searchers with advertisers (Google), sellers with buyers (Alibaba), or social groups with app developers (Facebook). These digital platforms have generated unprecedented value, overshadowing many established companies that have dominated their industries with produce-and-sell value chains. ...
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