Exploring Concepts of the Digital Economy in Commerce Education
"Discover the fundamentals of the digital economy through topics like digital transformation, e-business, data utilization, digital platforms, and network effects. Learn how businesses innovate and enhance customer experiences using digital technologies at Dr. SNS Rajalakshmi College of Arts & Science, Coimbatore."
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Dr . SNS RAJALAKSHMI COLLEGE OF ARTS & SCIENCE (Autonomous) Coimbatore -641049 Accredited by NAAC(Cycle III) with A+ Grade (Recognized by UGC, Approved by AICTE, New Delhi and Affiliated to Bharathiar University, Coimbatore) DEPARTMENT OF COMMERCE WITH DIGITAL MARKETING AND DATA MINING Topic : Concepts of the Digital Economy 1/X Concepts of the Digital Economy Mithra . B B.COM DM&DM
Digital Transformation The process by which businesses and industries leverage digital technologies to innovate, improve efficiency, and enhance customer experience. Examples: E-commerce replacing traditional retail, cloud computing enabling remote collaboration. Concepts of the Digital Economy Mithra . B B.COM DM&DM 2
E-Business and E-Commerce E-Business: The use of digital platforms and technologies to perform business processes online, including supply chain management, customer relationship management, and data analytics. E-Commerce: A subset of e-business that focuses on buying and selling goods and services over the internet. Concepts of the Digital Economy Mithra . B B.COM DM&DM 3
Data as a Resource In the digital economy, data is often referred to as the "new oil." Organizations collect, analyze, and leverage large volumes of data (Big Data) to make informed decisions, optimize operations, and personalize customer experiences. Key Technologies: Data analytics, Artificial Intelligence (AI), Machine Learning (ML). Concepts of the Digital Economy Mithra . B B.COM DM&DM 4
Digital Platforms Platforms act as intermediaries that facilitate interactions between producers and consumers. Examples: Amazon (e-commerce), Google (search engine and ads), Facebook (social media and marketing). Concepts of the Digital Economy Mithra . B B.COM DM&DM 5
Network Effects This concept describes how a product or service becomes more valuable as more people use it. Example: Social media platforms like LinkedIn gain utility as more users join and contribute. Concepts of the Digital Economy Mithra . B B.COM DM&DM 6
THANK YOU Concepts of the Digital Economy Mithra . B B.COM DM&DM 7
