Definition and synonyms of platform from the online English dictionary from Macmillan Education.. This is the British English definition of platform.View American English definition of platform.. Change your default dictionary to American English A business is defined as an organization or enterprising entity engaged in commercial, industrial, or professional activities. Businesses can be for-profit entities or non-profit organizations. . E.g. in Australia a Productivity Commission came to the conclusion that taxi plates (costing the taxi owner somewhere between $200,000-$300,000 depending on the location) translate intoThe first academic paper to address the platform business model and its application to digital matchmakers is said to be Platform Competition in Two-Sided Markets by Jean-Charles Rochet and Jean Tirole. [note 3] An early management research book on platforms was Platform Leadership: How Intel, Microsoft and Cisco Drive Industry Innovation, by Annabelle Gawer and Michael Cusumano (published in 2002). One of the academics most responsible for connecting those working in the emerging field of platform scholarship was professor Annabelle Gawer; in 2008 she held the first international conference on platforms at London.
A platform is a toolset for building technology services. This typically includes APIs and user interfaces for configuring, customizing, designing and developing software or infrastructure services. Platforms can be low level or high level, modern or legacy.The following are a common types of computing platform Platform definition: A platform is a flat , raised structure, usually made of wood, which people stand on when... | Meaning, pronunciation, translations and example Scholars have acknowledged platforms are challenging to categorise, due to their variety. A relatively common approach is to divide platforms into four types, based on the principle ways they add utility, rather than being concerned with which particular sectors they server. These four types are transaction, innovation, integrated, and investment. Other ways to categorize digital platforms are discussed in Digital Platforms: A Review and Future Directions 
When it comes to choosing the right payments platform for your business, you better do your research. Every business has different payment needs. Whether it's cross-border payments or recurring billing, there is definitely a payment solution that best fits your business.If you're in search for a solution, here are eight tips for business owners looking for the right platform Uber, meanwhile, is dogged by allegations that it does not support drivers and disavows itself of responsibility when riders are assaulted.Catherine Tucker is a professor of marketing at MIT Sloan. Her research interests include how technology allows firms to use digital data to improve their operations and marketing, and in the challenges this poses for regulations designed to promote innovation. She has expertise in online advertising, digital health, social media, and electronic privacy. She conducts much of her work at the intersection of marketing, economics, and law. She is co-editor of Quantitative Marketing and Economics, and a research associate at the National Bureau of Economic Research. She is chair of the MIT Sloan PhD program. Platform teams are cross-functional, with business, IT, and anything else that is needed, such as analytics, risk management, and so on. (Some companies call this a tribe.) They work in an agile manner , delivering the solution itself, enabling continuous business-led innovation, and developing and running all necessary IT
We have been talking about the platform business model without any technical gobbledygook so far. Big thing! And I am going keep it that way. This doesn’t mean that the technical design details of platforms are unimportant. The technical (and technological) design plays a role. But it is the part that can be copied most quickly.Businesses operating on some of the principles underpinning contemporary digital platforms have been in operation for millennia. For example, matchmakers who helped men and women find suitable marriage partners operated in China since at least 1100 BC. Grain exchanges from ancient Greece have been compared to contemporary transactional platforms, as have medieval fairs.  Examples of innovation platforms also predate the internet era. Such as geographic regions famous for particular types of production, institutions like Harvard Business School, or the Wintel technology platform that became prominent in the 1980s. A platform is a group of technologies that are used as a base upon which other applications, processes or technologies are developed. In personal computing, a platform is the basic hardware (computer) and software (operating system) on which software applications can be run During their early years, digital platforms tended to enjoy light regulation, sometimes benefiting from measures intended to help fledgling internet companies. The "inherently border-crossing" nature of platforms has made it challenging to regulate them, even when a desire has been there. Yet another difficulty has been lack of consensus about what exactly constitutes the platform economy. Critics have argued existing law was not designed to deal with platform based companies. They expressed concern about elements such as safety and hygiene standards, taxes, compliance, crime, protection of rights and interests, and fair competition. .
With the increasing centrality of digital platforms to the global economy following the 2008 financial crisis, there was an intensification of interest in assessing their impact on society and the wider economy. Many hundreds of reviews have been carried out: some by individual scholars, others by groups of academics, some by think tanks bringing together folk from a range of backgrounds, and yet others overseen by governments and transnational organisations such as the EU. Many of these reviews focussed on the overall platform economy, others on narrower areas such as the gig economy or the psychological impact of social media platforms on individuals and communities. In the context of digital platforms, ecosystems are collections of economic actors not controlled by the platform owner, yet who add value in ways that go beyond being a regular user. A common example is the community of independent developers who create applications for a platform, such as the many developers (both individuals and companies) that create apps for Facebook. With Microsoft, significant components of their ecosystem include not just developers, but computer and hardware peripheral manufactures, as well as maintenance and training providers. A traditional company embarking on a platform strategy has a head start in creating an ecosystem if they already have a list of partners, alliances and/or resellers. A startup company looking to grow an ecosystem might expose elements of its platform via publicly available APIs. Another approach is to have an easily accessible partnership sign up facility, with the offer of free or subsidised benefits for partners. So, how do they create value? Some say they are modern middleman. But that is far from complete. They need to add additional value to the overall exchange – and still be able to extract value – in order to be relevant. Many platforms have been struggling because they have not been able to do this. Here are some examples how platforms create value for their participants and capture value for themselves:Forbes Technology Council is an invitation-only, fee-based organization comprised of leading CIOs, CTOs and technology executives. Find out if you qualify at forbestechco…
Modern Business Intelligence platforms offer end-to-end capabilities, enabling users to take advantage of self-service to answer questions. Gartner defined modern BI in their most recent Magic Quadrant report, saying: The evolution and sophistication of the self-service data preparation and data discovery capabilities available in the market has shifted the focus of buyers in the BI and. . “This is a place where a platform strategy is not a crazy thing to want to implement, because if you’re successful, you’ll practically fix the market.”
Platforms tend to be a strong beneficiary of network effects; phenomena that can act to increase the value of a platform to all participants as more people join. Sometimes it makes sense for a platform to treat different sides of their network differently. For example, a trading platform relies on both buyers and sellers, and if there is say a shortage of buyers compared to the number of sellers, it might make sense for the platform operator to subsidize buyers, at least temporarily. Perhaps with free access or even with rewards for choosing to use the platform. Sometimes the benefits of network effects can be overestimated, such as with the so-called "grab all the eyeballs fallacy", where a large audience is attracted to a platform, but there proves to be no profitable way to monetise it. “Platform strategy is, in some sense, one of the most ambitious ways of entering a market you could have, because it requires coordinating the behaviors of multiple parties that might not know each other, that might not even want to know each other,” Azoulay says. “You’re sort of this orchestra conductor, and as a result of being very ambitious, it also fails very often.”
* Some economist are presenting this as indirect network effects. They say that writers are on the other side than readers. Such a distinction may make sense on platforms where there is a considerable distinction between writers and readers (e.g. Wikepedia, Medium). But on social networks where basically everybody is both roles all the time, this distinction is too theoretical. Additionally, same economists see telephone participants as on the same side of the phone network without distinguishing between callers and call receivers. We can safely consider ordinary users on social media as on the same side.Platforms help to sell products or services, to generate content and so on. But the platform owner as such does not manufacture the products that get sold (e.g. Ebay, Alibaba). They do not provide the services that get offered on their platform (e.g. Freelancer, Taskrabbit, Uber, Airbnb). They do not create the content that gets generated each day (Facebook, Twitter, YouTube). 1 : a level usually raised surface We hurried to the train platform. Visitors can observe wildlife from a platform. 2 : a raised floor or stage for performers or speakers 3 : a statement of the beliefs and rules of conduct for which a group stands The candidates discussed their party's platform. 4 : an arrangement of computer components that uses a particular operating system Keep scrolling for more More from Merriam-Webster on platform Thesaurus: All synonyms and antonyms for platform Rhyming Dictionary: Words that rhyme with platform Spanish Central: Translation of platform Nglish: Translation of platform for Spanish Speakers Britannica English: Translation of platform for Arabic Speakers Comments on platform What made you want to look up platform? Please tell us where you read or heard it (including the quote, if possible). Show Comments Hide Comments WORD OF THE DAY cowcatcher See Definitions and Examples » Get Word of the Day daily email! Test Your Vocabulary Yearbook Superlatives Quiz How might you best describe the Class Clown? risible diaphanousfatuous fractious Can you spell these 10 commonly misspelled words?
PLATFORM BUSINESS MODEL DEFINITION: a business model that creates value by facilitating exchanges between two or more interdependent groups, usually consumers and producers. Like Facebook, Uber, or Alibaba, these businesses don't directly create and control inventory via a supply chain the way linear businesses do Your platform pitch sounds great in the boardroom, but the reality is so much harder. A good platform strategy will help you dodge the traps, and may even send you in a more prosperous direction.
Platform, or Publisher? eye on the news Platform, or Publisher? If Big Tech firms want to retain valuable government protections, then they need to get out of the censorship business. Adam Candeub Mark Epstein. May 7, 2018. Technology and Innovation Murat Uenlue, PhD, Program Management Professional (PgMP), Project Management Professional (PMP). Currently program managing the most significant strategic innovation project for our company >$1 billion total value. Platform definition. The 'platform' metaphor has long been used in a variety of ways. In the context of platform economy, 21st-century usage of the word platform sometimes refers solely to online matchmakers - such as Uber, Airbnb, TaskRabbit etc. Academic work and some business books often use the term in a wider sense, to include non-digital matchmakers like a business park or a nightclub. E-commerce is a business model that focuses on doing business online, i.e., on the Internet. 'E-commerce' stands for 'electronic commerce.' The National Association of Sales Professionals has the following definition of the term: B2B is short for business-to-business platform: 1. Hardware: Foundation technology of a computer system viewed as a 'layered' device. The bottom (chip level) layer is called a platform such as an 'Intel Platform' or 'SunSparc Platform.' It is a broader view than system architecture which concentrates mainly on standard interfaces
Ideas Made to Matter Definition: Sales Platform. It is the main selling proposition upon which an entire sales campaign is built. It is the channel that is used for selling the product. There are many ways to sell a product to customers: One can sell through ecommerce websites, phone, a store, catalogues and using sales agents . Some books are even dedicated just to certain aspects of operating a platform, such as nurturing ecosystems. The work involved in creating a platform can be broadly divided into elements relating to technical functionality and network effects; for many but not all platforms, a great deal of effort also needs to go into the cultivation of ecosystems. Companies like Facebook, Apple, Amazon, and Google have achieved enormous scale in a matter of decades. Often their success is attributed to their tech and innovative cultures. However, while superior technology and innovation certainly help companies grow, it’s not the primary reason why these companies have reached such enormous valuations. Tech monopolies owe their success to their platform business model. Applico’s expertise in platform design, validation, and execution can help traditional companies build or acquire their own platform, without making costly mistakes early on in the process. Contact us today to learn more about how Applico can help a linear business develop its own platform.
The 'platform' metaphor has long been used in a variety of ways. In the context of platform economy, 21st-century usage of the word platform sometimes refers solely to online matchmakers – such as Uber, Airbnb, TaskRabbit etc. Academic work and some business books often use the term in a wider sense, to include non-digital matchmakers like a business park or a nightclub, and also to other entities whose function is not primarily to support transactions. Platform co-author Alex Moazed explains that “platforms don’t own the means of production, they create the means of connection.”  Platforms scholars Professor Carliss Y. Baldwin and Dr C. Jason Woodard have offered a generalised definition of economic platforms where the focus was on the technical side of the platform: "a set of stable components that support variety and evolvability in a system by constraining the linkages among the other components". Woodard and Baldwin have stated that at a high level of abstraction, the architecture of all platforms is the same: a system partitioned into a set of core components with low variety and a complementary set of peripheral components with high variety. Others define it based on the ecosystem perspective where the focus was on the actors around the platform ecosystem (e.g., buyers, sellers). For more discussion of definitions, see the paper Digital Platforms: A Review and Future Directions  . But it involves less efforts (still talking about Uber here). It is largely running some expensive marketing campaigns and providing free ride vouchers. (Cost of customer acquisition, CAC, is the major hurdle for start-ups.)
An ERP system, also called an ERP suite, is made up of different enterprise resource planning applications that talk to each other and share a database. ERP software system. ERP software - finance module. ERP software - sourcing and procurement module. ERP software - sales module. ERP software - manufacturing and supply chain module Most of the widely used platforms are owned by the private sector. In the 2016 GCE survey of platform companies valued over $1 billion, a total of 107 privately-owned companies were found, versus 69 public companies (public in the sense of being private sector, but publicly traded ). While more numerous, the privately-owned companies tended to be smaller, having a total market value of $300 billion, compared to $3,900 billion for the publicly traded companies. “Multi-sided platforms (MSPs) are technologies, products or services that create value primarily by enabling direct interactions between two or more customer or participant groups.”
The platform economy is economic and social activity facilitated by platforms. Such platforms are typically online matchmakers or technology frameworks. By far the most common type are "transaction platforms", also known as "digital matchmakers". Examples of transaction platforms include Amazon, Airbnb, Uber, and Baidu. A second type is the "innovation platform", which provides a common technology framework upon which others can build, such as the many independent developers who work on Microsoft's platform. No coincidence here. In economic theory, companies have a competitive advantage against individuals endeavouring the same (yes, economists really wonder about such weirdly-intriguing questions) by internalising most relevant transaction costs (this is where the wider definition of this term comes into play) and leveraging economies of scale on these transactions. Platforms help to reduce the advantage of companies to individuals (or very small entities). This is why I say that Uber’s key achievement is to develop a new supply (sub-)category.Much recent criticism focusses on major platforms being too big; too powerful; anti competitive; damaging to democracy, such as with the Russian meddling in the 2016 election; and bad for users mental health. In December 2017 Facebook itself admitted passive consumption of social media could be harmful to mental health, though said active engagement can be helpful. In February 2018, Unilever, one of the world's leading spenders on advertising, threatened to pull adverts from digital platforms if they "create division, foster hate or fail to protect children."    Europe is home to a large number of platform companies, but most are quite small. In terms of platform companies that were valued over $1bn, Europe was found to have only 27 in the 2016 global survey. So far ahead of Africa and South America, but lagging well behind Asia and North America. The platform could also be UNIX machines on an Ethernet network. The platform defines a standard around which a system can be developed. Once the platform has been defined, software developers can produce appropriate software and managers can purchase appropriate hardware and applications. The term is often used as a synonym of operating system
Having a first-mover advantage in creating a platform can also be critical, since most markets can only support one platform and the winner dominates. Overall, it's important to follow the core tenets above to create a popular, successful platform business.On the B2C side, over 100 million users subscribe to Amazon Prime and thereby access an entertainment streaming library (with both licensed and original content), free 2-day shipping on products bought on the marketplace, and other perks.
Although the same game may exist in different versions to be run on different systems, if that version is built to be run on Microsoft Windows, it won’t work if loaded on an Xbox.The platform business model is relevant for startups, young companies and established companies. For startups, it poses the opportunity to capture a share of established markets and grow large fast. But established companies too can use it with vast success. Apple is the best example. A portion of their iPod’s and iPhone’s success is based on the fact that they have used the platform business model. Prior to these two products the company was floundering for more than a decade.
Digital transformation is the process of using digital technologies to create new — or modify existing — business processes, culture, and customer experiences to meet changing business and market requirements. This reimagining of business in the digital age is digital transformation The platform business model is highly dynamic. And it is difficult to predict dynamic systems. I believe the best way to get started at this stage is to brainstorm the fundamental elements of the platform business model. Download the worksheets here and get your innovation idea started! Brainstorms the below & add to the table provided
Bring a business perspective to your technical and quantitative expertise with a bachelor’s degree in management, business analytics, or finance. A platform business model is a form of the horizontal business model. In this model, a biotech company might produce a tool such as a detection kit using a specialized bioindicator or unique disposable equipment like plates for specific arrays; they might design software for a specific biological use such as protein modeling . The phrase is sometimes used with a broad scope, to include traditional offline temporary and contract work; in that sense, parts of the gig economy are outside the platform economy. In the narrow sense of the phrase, the gig economy refers solely to work mediated by online labour market platforms, for example PeoplePerHour. In this narrow sense, an important sub division is between local and remote gig work. Local gigs require the worker to be present in person – as is the case for Uber or most TaskRabbit work. For remote work, also known as the "human cloud", tasks can be done anywhere in the world, as is generally the case with Mechanical Turk or the upwork platform. A 2017 study estimated that worldwide, about 70 million people have registered on the remote labour platforms. The global Gig Economy, in 2018, generated $204B in Gross Volume (with Transportation-Based Services (e.g., ride-sharing) comprising 58% of this value), while this number is expected to grow to $455B in 2023. Moreover, surveys yield that 5–9 per cent of adult Internet users in various European countries are involved in working through such platforms weekly, while annual growth rate of the gig platform users is forecasted to be 26 per cent. This 20-month MBA program equips experienced executives to enhance their impact on their organizations and the world.
An application can also be a platform if it is a base for other programs. For example, Web browsers accept third-party plug-ins, and the browser application becomes a platform to interface with Let’s look at Uber. One economic benefit is that it helps to utilise better idle-sitting assets.Thus, to run a bookkeeping program on a computer, one must purchase a bookkeeping software application that was developed for the platform on which it will be used.Developing the core technical functionality can sometimes be unexpectedly cheap. Courtney Boyd Myers wrote in 2013 that a platform with the core functionality of Twitter could be developed almost for free. A person who already had a laptop could take a $160 Ruby on Rails course, spend about 10 hours writing the code, and then host the Twitter clone on a free Web hosting service. A service that would have a chance of attracting a good user base, however, would need to be developed to at least the level of being a Minimum viable product (MVP). An MVP requires development well beyond a core set of technical functionality, for example, it needs to have a well-polished user experience layer. Boyd Meyers reported estimates that to develop an MVP for a platform like Twitter, the cost could range from $50,000 to $250,000, whereas for a platform needing more complex functionality such as Uber, the cost could range from $1 to $1.5 million. This was in 2013, considerably more has since been spent on technical development for the Uber platform. For other platforms, however, developing the needed technical functionality can be relatively easy. The more difficult task is to attract a large enough user base to ensure long term growth, in other words to create sufficient network effects. Network effects need to be actively fostered. It will not be enough to just remove friction. Engaging is essential to keep participants come back to the platform. Having just participants that rarely engage is not sufficient to achieve network effects. Here are some thresholds that platforms have realised are crucial for users staying active on their platform:
Trends attract a crowd. As digital platform-based firms emerge as some of the most profitable businesses in the last 20 years, startups and established companies alike are embracing the movement in great numbers. (Quick recap: a digital platform brings together two or more distinct groups of customers on a common online platform that creates value for all.) eBay, one of th Author platform is one of the most difficult concepts to explain, partly because everyone defines it a little differently. But by far the easiest explanation is: an ability to sell books because of who you are or who you can reach. Platform is a concept that first arose in connection with nonfiction authors. Sometime during the 1990s, agents and publishers began rejecting nonfiction book. Fulfillment by Amazon is yet another (and linear) source of revenue for Amazon that also improves the platform experience overall by ensuring that customers quickly receive items ordered on Amazon’s marketplace, no matter who sold the item. The Fulfillment By Amazon service allows sellers to store their inventory in Amazon warehouses and let Amazon handle shipping when a customer places an order, for a fee.
Similarly, the collection of the three-open source applications Elasticsearch, Logstash, and Kibana constitutes the ELK Stack, a platform used for logging purposes.If this is your first time registering, please check your inbox for more information about the benefits of your Forbes account and what you can do next!A joint program for mid-career professionals that integrates engineering and systems thinking. Earn your master’s degree in engineering and management.
The Commission states clearly that the regulations are not in the public interest (this was in 1999 and yet nothing much has changed, though since Uber has entered the country discussion may have been invigorated). ‘The public or consumer interest has suffered an estimated $20.67 million annual loss of wealth in 1993 [this refers to the city of Brisbane only], while between $11 million and $19.1 million of this loss has been picked up by the politically powerful licence holder lobby and between $1.48 million and $9.55 million has been lost to society with no group directly benefiting [the deadweight loss]’.Let’s first be clear what we are talking about: not every technological platform is a platform business.In the context of multi-sided platforms (=platform businesses), it is essential to realise that we distinguish between two different types of effects:An ineffective filter process can barrage participants with irrelevant listings like drivers an hour away on the other side of town, or rooms for rent in San Jose, California when your destination is San Jose, Costa Rica. Filters are coded algorithms that may not be sufficient for reducing the number of useless options available in your platform. A platform, as the New York Times recently pointed out, can take many forms. The Barbie doll is a platform as is the US Interstate Highway system. These are products or infrastructure that allow other products to be 'built on top' and can thus cha..
Open Platforms Vs. Closed Platforms Definition. In the world of software computing, an Open Platform is a software program that has provision for open application programming interfaces (API), or flexible scope to use the software for purposes other than as it was intended, or has an open source code that can be edited by users to tailor it to their needs, or allows free adoptability - usage. When asked how to get smarter, Buffett once held up stacks of paper and said, “Read 500 pages like this every week. That’s how knowledge builds up, like compound interest.”According to data from early 2016, only three home grown platform companies with a market capitalisation greater than $1bn had emerged in South America: these are MercadoLibre, Despegar.com, and B2W. The continent is however home to many start up companies. In Brazil, the Portuguese language gives an advantage to home grown companies, with an especially active start up scene existing in São Paolo. Argentina has been the most successful in creating platforms used outside its own borders, with the countries relatively small home market encouraging a more global outlook from its start up platform companies. Define online platform. online platform synonyms, online platform pronunciation, online platform translation, English dictionary definition of online platform. n. 1. a. A horizontal surface raised above the level of the adjacent area, as a stage for public speaking or a landing alongside railroad tracks. A city-based business content. Framework: A framework, or software framework, is a platform for developing software applications . It provides a foundation on which software developers can build programs for a specific platform . For example, a framework may include predefined classes and functions that can be used to process input , manage hardware devices, and interact.
Define platform. platform synonyms, platform pronunciation, platform translation, English dictionary definition of platform. n. 1. a. A horizontal surface raised above the level of the adjacent area, as a stage for public speaking or a landing alongside railroad tracks. b 11 synonyms of platform from the Merriam-Webster Thesaurus, plus 13 related words, definitions, and antonyms. Find another word for platform. Platform: a level usually raised surface This article by Murat Uenlue is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License. Every business is a digital one. At least, that's the premise of a digital business technology platform. Here's the idea: In some ways, every company is a software company because companies today must function in ways that many software or technology firms do, by embracing technology in-house The efforts of developing the platform are often more concentrated on one side. For some platforms this is on the demand side, for others, it is on the supply side. Platforms like Uber and Airbnb have created a whole new supply (sub-)category. Yes, sure, Taxis have long existed. But ride-hailing as such has not. The difference is that a taxi company is a registered business entity. The Uber driver is just an individual providing a commercial ride to a stranger.
Here's what the authors of Platform Revolution say make up the basic structure of every platform: Participants, plus Value Unit, plus Filter, equals Core Interaction. The Value Unit is what participants on one side of the platform create for others. In the case of Digital Market, this was the pricing and availability information about each electronic part entered by the distributors. With Airbnb, it’s listing the room you want to rent out.Additional concerns have been raised due to the increasing role of AI. Some scientists argue that AI is a block-box and often lacks explainability. AI can operate as a black-box in which principles of conduct and end decisions may not have been predicted or perceived by the AI’s creators, let alone users. Therefore, core operations carried out by AI in platforms can be criticized as biased and exploitative. The following threads of platform exploitation can be discerned: exploitation arising from relationship between algorithms and platform workers, from behavioural psychology tactics adapted to algorithmic management, and from information asymmetries enabling “soft” control. Some of the principles governing the operations of matchmaking platforms differ sharply when compared with traditional business models. The selling of products or services is central to most traditional businesses, whereas for transaction platforms, connecting different groups of users is the key focus. For example, a traditional mini cab company sells taxi services, whereas a platform company might connect drivers with passengers. Another distinguishing feature of the platform business model is that it emphasises network effects, and the inter-dependence of demand between the different groups that use the platform. So with a platform business, it often makes sense to provide services free to one side of the platform, e.g. to the users of a social media service like Facebook. The cost of this subsidy is more than offset by the extra demand a large user base generates for the revenue generating side(s) of the platform (e.g. advertisers).
The multisided platform business model connects customers to sellers directly. One big global success is Airbnb, which calls itself a community marketplace. It links travelers to rental properties, including many private homes. Image courtesy of Airbnb Facebook. Multisided platform (MSP) businesses are hot, no question Platform business models are a very different animal from traditional IT projects, they often involve the entire company and require multiple business units to come together and stay in close.
Over 90% of NGOs maintain a presence on the large privately owned social media platforms such as Facebook, with some also operating their own platforms. 2017 also saw increased critical attention towards the larger platforms from both European and Chinese regulators. In the case of China where several of the larger US owned platforms were already banned, the focus was on their biggest home grown platforms, with commentators expressing concerns that they have become too powerful. So what do you call traditional, non-platform companies? We call them linear businesses, because their operations are well-described by the typical linear supply chain. Linear companies create value in the form of goods or services and then sell them to someone downstream in their supply chain. A 5-step process to ideate — design — build platform business models. T he Platform Innovation Kit (PIKiT). Is a methodology we created in order to help startups and corporations invent, build. Traditional companies in other sectors such as the auto industry, media, and B2B distribution would do well to anticipate tech giant’s big moves into their industry. Already Amazon Business has achieved $10 billion in annualized B2B sales. Twitch has signed deals with live TV broadcasters to stream live programs on their platform so that Twitch users can provide personalized commentary to their fans, thereby fundamentally reshaping the way live TV media is consumed.
Each gaming platform will adhere to its own set of standards as well as rules and hardware restrictions. For example, developers may need to lower in-game graphics settings if the game engine is too heavy on a specific console’s hardware. Make your business a platform by facilitating transactions across your systems. 2. Expand the biz partners who can reach your customers. 3. Expand the customers who can reach your suppliers. Biz CustCust . 10 This is a really, really different business model due to network effects How are these related “People were selling plasma TV boxes with stones in them,” Tucker says. At the time, eBay saw itself as a matchmaker, not responsible for the quality of the products or the transactions. Today, the company offers disagreement resolution, buyer protection plans, and occasionally will refund wronged users directly, earning itself a reputation of reliability.The term sharing economy is also used with a wide range of scopes. According to Rachel Botsman, one of the prominent analysts of the sharing economy, the ‘sharing economy’ as a term has been incorrectly applied to ideas where there is just a model of matching supply with demand, but zero sharing and collaboration involved. There is a fundamental difference between platforms such as Deliveroo, Dashdoor which operates on the basis of meeting instant demand with a constant pool of labour and platforms like BlaBlaCar or Airbnb, which are genuinely built on the sharing of underused assets. So, mere delivery may not qualify as a sharing economy, but it is a mobile-driven version of point-to-point delivery. However, due to the positive connotations of the word "sharing", several platforms that don't involve sharing in the traditional sense of the word have still liked to define themselves as part of the sharing economy. Yet academic and some popular commentators define the sharing economy as only including activity that involves peer to peer transactions; in these narrow definition most of the platform economy is outside of the sharing economy.  
The term: Burning Platform is a business lexicon that emphasizes immediate and radical change due to dire circumstances. The origin of if the term comes from a story about a man on an oil platform in the North Sea. One night he is awakened by an explosion and resulting fire on the platform. Striving to escape the impending flames, he is able to. We’re constantly updating our feeds with the latest platform news and Applico announcements. Stay in touch!Additionally, more than 80% of all items listed on Amazon are from third-party sellers, meaning the marketplace is a significant factor in enabling the company to capture long-tail sales. Amazon also can use data on third-party sales to help it identify where to invest in its linear e-commerce business.Access our free download area with 20+ Free Downloads! More being added every few weeks. It includes the ebooks: “Uber Business Model Canvas,” “Airbnb Business Model Canvas” and the “Complete Guide to the Revolutionary Platform Business Model” and a lot more!! Wrap account An investment consulting relationship for management of a client's funds by one or more money managers, that bills all fees and commissions in one comprehensive fee charged quarterly. Wrap Account A brokerage account where the brokerage agrees to conduct transactions for the client for a flat fee, usually assessed on a quarterly or yearly.
A robust digital business platform can support these goals. A hybrid integration platform is key. Gartner has defined pervasive integration as the integration of on-premise and cloud applications and data sources, business partners, clients, mobile apps, social networks, and IoT devices to enable organizations to pursue digital business A platform is a group of technologies that are used as a base upon which other applications, processes or technologies are developed.
Make no mistake about it. We live in a world where the the platform economy isn't just disruptive, it's killing long-lasting and successful business models.Amazon shook up the retail industry, Napster and iTunes decimated the music industry, Uber and Airbnb are radically changing the transportation, hotel and travel industries.. But, what exactly is the the platform economy and. Read “Matchmakers: The New Economics of Multisided Platforms,” co-authored by MIT Sloan professor emeritus and dean emeritus Richard Schmalensee, and “How companies become platform leaders,” a classic and still-relevant 2008 MIT Sloan Management Review article by MIT Sloan Professor Michael Cusumano and University of Surrey Professor Annabelle Gawer.The Filter is how the other users find the Value Unit, and is usually some sort of search interface. In the case of Uber, the company can use your location to filter the Value Units -- available cars -- and display them quickly and easily on your mobile device.
Every business model and industry has its own set of important business management concepts. Many traditional businesses, for example, optimise integrated supply chains and manufacturing processes (and supply side economies of scale). For the platform business model, the concept of network effects (also called demand-side economies of scale) is of utmost importance.Airbnb has noticed that transactions sometimes fail because they don’t fit the host’s preferences for gap days in-between bookings. Based on this insight they have fine-tuned their search algorithms. The Platform Innovation Kit (PIK) is a new kind of business and strategy toolset allowing Executives, Innovation Teams and Startups to understand and build new digital growth engines.. It consists of 3 major components: Innovation-Plan - a step-by-step plan guiding you from ideation to growth Set of Canvases - over 12 canvases to facilitate discussions and team wor Computer Platform Defined. A computer platform is a system that consists of a hardware device and an operating system that an application, program or process runs upon. An example of a computer.
An intuitive, familiar interface. Apple products are intuitive and easy to use, which means they're also easy for your business to support. Our interface allows employees to use familiar actions like swiping, scrolling, and tapping to collaborate, stay organized, and adapt to new programs and procedures more quickly Tucker says she can tell right away that someone has a platform strategy if they have a plan to drive the first users to a platform “when there is nothing there.”
Murat Uenlue, PhD (Engineering), Program Management Professional (PgMP), Project Management Professional (PMP). Project managing the most significant strategic innovation project for our company >$1 billion. Best way to contact me is LinkedIn (click here) but please add a note that you are coming from this site! II. DEFINITION OF TERMS This section lists terms and definitions that pertain to Platform IT. GENERAL PURPOSE A system used for routine administrative and business applications, including payroll, finance, logistics, and personnel management applications. General purpose systems are normally no
Platforms are sometimes studied through the lens of their differing distributions and impact across the world's geographic regions. Some early work speculated that the rise of the platform economy could be a new means by which the United States could maintain its hegemony. While the largest platform companies by market capitalisation remain US-based, platforms based in India and Asia are fast catching up, and several authors writing in 2016 and later took the opposite view, speculating that the platform economy will help accelerate a shift of economic power towards Asia.   A technology platform is an environment for building and running applications, systems and processes. These can be viewed as toolsets for developing and operating customized and tailored services. The following are common types of technology platform. Operating systems provide the basic services required to use hardware When the demand side searches, the results can be executed and displayed in a rather crude way. Based on keywords, location or ratings. The early platforms like Craiglist can do this as well. But more advanced platform businesses constantly improve their search and matching algorithms in order to add more value.
An online marketplace that places one party in touch with another, such as buyers and sellers. Examples are eBay, Craigslist, Amazon Marketplace, Airbnb and Uber. The online system may be entirely. But who are the participant groups? Well, depends on the platform. In most cases, it helps to distinguish between supply and demand side.While there are a number of ways to seed users into a platform, the strategies all have the potential to backfire. For example, recruiting a marquee user to kickstart the platform and draw other users can backfire if that user usurps control of the platform’s governance. Or focusing on low prices or free services can backfire when users become accustomed to and anchored on that low price for the long run.Amazon also offers advertisers ad space on its marketplace. In 2018, Amazon was projected to make $4.61 billion in advertising revenue. Amazon’s revenue share from ads is growing on the back of its marketplace’s success. The marketplace commands the attention of over 300 million active users, making it attractive to potential advertisers.
A computer platform — also called digital platform or computing platform — generally refers to the operating system and computer hardware only. The Digital Platform Strategy engages your business and technology stakeholders to prioritize building the most valuable capabilities in a lean, incremental manner. The Pillars of the Digital Platform Strategy Our Digital Platform Strategy framework is a blueprint for platform building that is comprised of five essential pillars (focus areas)
In addition to a near-zero marginal cost of manufacturing, information goods today also have a near-zero marginal cost of distribution. Thanks to the Internet and connected technology, the cost to serve one additional customer is basically zero. Each customer visits a website (no rent!) or downloads the app from the cloud or a remote server (no shipping fees for catalogs or CDs). That is, which ecommerce platform you choose to power your business and ready it for scalable, long-term growth. For most growing mid-market businesses, this technology is typically provided by BigCommerce, Magento , Salesforce Cloud Commerce (formerly Demandware) or Shopify Having millions of users is one thing, but it’s another to have a viable business model that delivers value through your app and circulates money back into your company. Today, many apps are downloaded and used for free because they bring buyers and sellers together to enable the efficient delivery of a product or service. Examples include Uber, Airbnb and Pinterest. This kind of business model is a two-sided platform.Today, new mobile devices such as smartphones and tablets possess their own software and hardware. They operate independently of other systems and are capable of running their own apps, tools, and other software, hence they can be effectively considered as platforms.
Because on the other end of the spectrum, governing the platform to reduce negative network effects plays a very big role. Opening too widely, to the wrong parties or in the wrong way invites havoc. And that to a degree that will bring the platform down. If this wasn’t exactly what you expected in the “design” section, check out the links mentioned for more details. It will make a lot of sense.Thus, Uber had to expend significant efforts in order to make sure the new supply is safe, complies with laws, is insured, can process payments, locate the passenger and so on. Ooops, does that sound a lot like our transaction cost list from above?
According to authors Alex Moazed and Nicholas L. Johnson, BlackBerry Limited (formerly RIM) and Nokia lost massive market share to Apple and Google's Android in the early 2010s, as RIM and Nokia were acting as product companies in a world now best suited to platforms. As former Nokia CEO Stephen Elop wrote in 2011 "We’re not even fighting with the right weapons, ... The battle of devices has now become a war of ecosystems." Network effects are the incremental benefit gained by an existing user for each new user that joins the network. For example, when a new rider joins Uber, it benefits drivers on the platform. We’ve written an article that gets into the weeds about network effects that’s essential reading for anyone who intends to build and manage a platform. Linear Business: a business that takes in components, creates finished products/services and sells that good/service to consumers. platform product: Appliance or equipment (such as Palm's Palm Pilot and Sony's Walkman) whose basic design and some components are used in several products of a product family. See also augmented product Before giving a definition to what is a Digital Platform, let's take a few examples: Google search engine: advertising business model. Social platforms: Facebook, Twitter, Instagram, LinkedIn - advertising business model. Knowlegde platforms aka forums such as StackOverflow - advertising business model
The firm has launched its Digital Business Platform which it says operates at the interface between real-time business operations and changing customer and market requirements Not every platform company takes a pure platform approach,and not all aspects of products and services are best served through a platform. Some companies like Apple and Amazon take a hybrid approach that combines linear and platform business models. Combining these two business models can be tremendously effective and lucrative – allowing a business to capitalize on the strengths of each business model.Also known as the digital platform or online platform economy, the platform economy is economic and social activity facilitated by platforms. Such activity is wider than just commercial transactions, including for example online collaboration on projects such as Wikipedia. While scholarship on platforms sometimes includes discussion of non digital platforms, the term "platform economy" is often used in a sense that encompasses only online platforms. Tucker and Azoulay encourage students in their platform strategy class to think about where their company fits best within a platform ecosystem. Generally speaking, platforms create new connections and new opportunities for trade. All participants in a platform ecosystem stand to gain. Being a savvy, successful participant may offer a path to profit without the enormous risk of managing the platform itself, if you’re willing to cede the glory in favor of growth and stability. Just be sure you retain control of your data, Tucker says.
Definition - What does Platform Company mean? A platform company is the initial acquisition made by a private equity firm in a specific industry or investment type. This acquisition will serve as the foundation for a roll-up of other companies acquired in the same industry “That is a plan for how you get over the chicken and the egg problem,” she says. “If you’re the only person in the world on Uber, it’s really not that good. I so often find that many people, because they’ve got a product mentality, think about features. They show me pictures of their user interface and how the app’s going to be really cool and all these kinds of things. But rather than having a feature mindset, you have to have a seeding mindset.” SAS ® Certified Platform Administrator for SAS ® 9. For those who have the skills and knowledge necessary for the administration of the platform for SAS ® Business Analytics Successful candidates should be able to: Secure the SAS configuration on each server machine Tucker points to Axon as an example of a company reinventing itself as a platform leader with a unique value proposition. The company, formerly called Taser, still makes stun guns for law enforcement and for personal self-defense. But its new focus begins with body cameras and includes data storage and collaboration tools. Connections are built between police officers and other law enforcement staff and attorneys with the goal of boosting efficiency, such as reducing the time officers spending writing and filing reports.
What do Airbnb, Uber, Google, Facebook, YouTube, eBay, Alibaba, PayPal have in common apart from the fact that they are some of the most valuable start-ups of the recent (or coming) years? They are all platforms businesses! The success of these envied companies has made the platform business model the holy grail of business models. 1. The follow-the-rabbit-strategy builds on an existing non-platform success by using a demonstration of the company's track record. Consider Amazon, which, before becoming a platform business operated an effective pipeline business that used online product listings to attract consumers When search cost reduction helps matching two (or more) parties, lower transaction costs help them to enter an exchange between the two parties. Reducing transaction costs can even be more complex than search costs. I will keep it short at here but more transaction cost examples here.
See more words from the same year Dictionary Entries near platform plate wheel platework plat-eye platform platformally platform balance platform carForbes Technology Council is an invitation-only, fee-based organization comprised of leading CIOs, CTOs and technology executives. Find out if you qualify at forbestechcouncil.com. Questions about an article? Email email@example.com.The economics of information goods refers to the fact that information goods such as apps, digital music, and ebooks can be replicated at a near zero cost. For example, to create a mobile app, it might cost $500,000 to produce the original version, but creating a copy of that app for user #2 will cost next to nothing. In the language of economics, the app has near-zero marginal cost.Building trust can happen a number of different ways. Apple has strict developer guidelines for its app store. Airbnb rewards property owners for building up good reviews and posting accurate photos of their properties. The players may be different, but the platform must provide predictability and reliability.
Note that not all tech companies today are platform businesses. Technology is an important enabler for platforms, but using modern technology does not automatically make a business a platform.Until 2017, most mainstream assessments of the platform economy were largely positive about its benefits to wider society. There were some exceptions; a forthcoming techlash had been predicted by Adrian Wooldridge as far back as 2013. Further hardening of attitudes towards platforms from some commentators and regulators had been detectable from at least early 2015. There had been a few highly critical views, e.g. from Evgeny Morozov, who in 2015 described most platforms as "parasitic: feeding off existing social and economic relations". Yet such negative assessments were rare, especially from prominent commentators who had the attention of policy makers. This began to change in 2017. Across the world, the larger privately-owned platforms were subject to increasing questioning about their expanding role and responsibilities. Platform business models can be a powerful ecosystem for value exchange and innovation. Here is a primer on the definition and benefits of platform business models and some go-forward strategy. The On-Demand Economy Is Growing, and Not Just for the Young and Wealthy. Emerging markets Digital Article. New data shows a rapidly expanding consumer base. To Manage a Platform, Think of It as a.
I have covered this business model extensively over the last few weeks. Now, you are getting a comprehensive summary. These are all the elements of the platform business model you will learn about today.Monetisation is more complex than this and I am explaining this in more detail using Uber’s revenue model as and example as well as Airbnb’s revenue model.But Azoulay, who teaches competitive strategy and innovation strategy, among other courses, reminds students not to get starry-eyed.Platform business models have been around for a while, from telephone services to operating systems like Microsoft Windows. Those are two successful platforms, but there are lessons to be learned from failed platforms, too. In 1995, I helped start a company named Digital Market that was to be a platform for buying and selling electronic parts. The original Digital Market platform was free to buyers while the franchised distributors of electronic parts paid transaction fees for automated quotes and orders.