BU415 Chapter Notes - Chapter 4: Network Virtualization, Whatsapp, Positive Feedback
Document Summary
Networks are different: value in plentitude: value of network proportional to number of connected nodes i. e. instagram, fax machines, whatsapp, value tied in how many other nodes in network plentitude rather than how few (scarcity) Networks, marketplaces, and platforms: marketplaces, two-sided networks, demand and offer meet, each side waiting for other to grow prior to joining network, success requires the following, solving chicken-or-the-egg problem. Data and information: data codified raw facts, things that have happened coded as letters and number and stored, increasingly, by way of digital devices. Information data in context: data become information when have been given meaning and can be interpreted by individual users or machines. Classic information goods: products that customer purchases for sole purpose of gaining access to information they contain i. e. , software, books, music. Chapter 4: the changing competitive environment: simple test for recognizing to verify whether product can be digitized.
