Large digital multisided platforms (MSPs) such as Amazon, Alibaba, and Apple’s App Store have made it much easier for sellers to reach new customers, but as thousands of companies large and small have discovered, conducting business on them carries significant risks and costs. MSPs sometimes exploit sellers’ dependency on them
As we start a new decade, the top trends for business analytics platforms are cloud, artificial intelligence, automation, on-device (edge) analytics, and augmentation. Cloud ecosystems empowered with AI have matured greatly in recent years. Smart, augmented prediction and decision-making tools are at a stage where they are ready to be deployed across organizations, from the boardroom to the shop floor. The challenge is making sure your business is ready to use them.
Nearly two years ago, Seattle Sport Sciences, a company that provides data to soccer club executives, coaches, trainers and players to improve training, made a hard turn into artificial intelligence. It began developing a system that tracks ball physics and player movements from video feeds. To build it, the company needed to label millions of video frames to teach computer algorithms what to look for. It started out by hiring a small team to sit in front of computer screens, identifying players and balls on each frame. But it quickly realized that it needed a software platform in order to scale. Soon, its expensive data science team was spending most of its time building a platform to handle massive amounts of data.
In today’s ultra-competitive marketplace, every company whether they realize it or not, is creating multiple digital platforms. Why? Because platforms transcend traditional value chains and enable companies to create new business value. What this really means is companies are moving away from processes to platforms to create competitive advantages. The top 10 Fortune 500 companies are platform companies (Apple, Facebook, Google and Salesforce, for example). Moving forward, companies that master platform thinking and design will be the champions. Such is the power of this new way of thinking that most if not all firms are in the process of assembling and refining., If you and your company are to fully benefit from them, you need to understand why this is happening and how you can take advantage of it.
All of the most valuable firms in the world today are platforms, starting with Apple, Microsoft, Google, and Amazon. But platforms do not evolve in predictable ways, and there is a lot that managers and entrepreneurs can learn about past, present, and future platform strategies. To shed light on the