1. Big Data & Analytics: In digital business, big data and analytics play a crucial role in understanding customer behavior, market trends, and business performance. Big data refers to the vast amount of data generated every second from various digital sources. Analytics is the process of extracting meaningful insights from this data. Businesses use these insights to make informed decisions, predict future trends, and improve overall performance. For example, an e-commerce company can use big data analytics to understand what products are most popular, at what time of the day customers are most active, etc.

2. Mobile: Mobile technology has revolutionized digital business. It has not only provided businesses with a platform to reach customers anytime, anywhere but also opened up new avenues for business like mobile commerce, mobile payments, mobile advertising, etc. For example, many businesses now have mobile apps that allow customers to shop, make payments, and interact with the business directly from their mobile devices.

3. Cloud Computing: Cloud computing provides businesses with a cost-effective and scalable way to store, manage, and process data. Instead of investing in expensive hardware and software, businesses can use cloud services on a pay-as-you-go basis. This not only reduces costs but also allows businesses to scale up or down based on demand. For example, a start-up can use cloud computing to quickly set up its IT infrastructure without any upfront investment.

4. Social Media: Social media plays a key role in digital business as a platform for marketing, customer engagement, and customer service. Businesses use social media to reach out to their target audience, engage with them, and build brand loyalty. For example, a business can use social media to launch a new product, run promotional campaigns, or handle customer complaints. Social media analytics can also provide valuable insights into customer preferences and behavior.

Question

1. Big Data & Analytics: In digital business, big data and analytics play a crucial role in understanding customer behavior, market trends, and business performance. Big data refers to the vast amount of data generated every second from various digital sources. Analytics is the process of extracting meaningful insights from this data. Businesses use these insights to make informed decisions, predict future trends, and improve overall performance. For example, an e-commerce company can use big data analytics to understand what products are most popular, at what time of the day customers are most active, etc.

2. Mobile: Mobile technology has revolutionized digital business. It has not only provided businesses with a platform to reach customers anytime, anywhere but also opened up new avenues for business like mobile commerce, mobile payments, mobile advertising, etc. For example, many businesses now have mobile apps that allow customers to shop, make payments, and interact with the business directly from their mobile devices.

3. Cloud Computing: Cloud computing provides businesses with a cost-effective and scalable way to store, manage, and process data. Instead of investing in expensive hardware and software, businesses can use cloud services on a pay-as-you-go basis. This not only reduces costs but also allows businesses to scale up or down based on demand. For example, a start-up can use cloud computing to quickly set up its IT infrastructure without any upfront investment.

4. Social Media: Social media plays a key role in digital business as a platform for marketing, customer engagement, and customer service. Businesses use social media to reach out to their target audience, engage with them, and build brand loyalty. For example, a business can use social media to launch a new product, run promotional campaigns, or handle customer complaints. Social media analytics can also provide valuable insights into customer preferences and behavior.

Knowee AI · Accepted Answer

1. Big Data & Analytics: In digital business, big data and analytics play a crucial role in understanding customer behavior, market trends, and business performance. Big data refers to the vast amount of data generated every second from various digital sources. Analytics is the process of extracting meaningful insights from this data. Businesses use these insights to make informed decisions, predict future trends, and improve overall performance. For example, an e-commerce company can use big data analytics to understand what products are most popular, at what time of the day customers are most active, etc.

2. Mobile: Mobile technology has revolutionized digital business. It has not only provided businesses with a platform to reach customers anytime, anywhere but also opened up new avenues for business like mobile commerce, mobile payments, mobile advertising, etc. For example, many businesses now have mobile apps that allow customers to shop, make payments, and interact with the business directly from their mobile devices.

3. Cloud Computing: Cloud computing provides businesses with a cost-effective and scalable way to store, manage, and process data. Instead of investing in expensive hardware and software, businesses can use cloud services on a pay-as-you-go basis. This not only reduces costs but also allows businesses to scale up or down based on demand. For example, a start-up can use cloud computing to quickly set up its IT infrastructure without any upfront investment.

4. Social Media: Social media plays a key role in digital business as a platform for marketing, customer engagement, and customer service. Businesses use social media to reach out to their target audience, engage with them, and build brand loyalty. For example, a business can use social media to launch a new product, run promotional campaigns, or handle customer complaints. Social media analytics can also provide valuable insights into customer preferences and behavior.

Explain THE ROLES OF FOLLOWING IN DIGITAL BUSINESS Big Data & Analytics, Mobile, Cloud Computing, Social media

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Explain THE ROLES OF FOLLOWING IN DIGITAL BUSINESS

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