Digital Platforms make it easier to find customers. I think of how businesses are on social media for example Fashion Nova. The business is able to post products and customers would follow to see the content until they see items that they are interested in and make a purchase. The Network Effect is when a product gains more value because of more people using it. Examples are Instagram and LinkedIn. One of the biggest cons of Cloud Computing is Security. When your information is stored, there is the risk of it being hacked and used. Another con is availability. The pros of Cloud Computing are cost and ease of use. Oh, and collaboration between customer and business. Application Programming Interface (APIs) it is a way for computer programs to communicate with each other. A good example was the one Professor Sclarow mentioned when we use uber eats it communicates with google maps to help find our location and what restaurants are close to us. APIs build value because it makes it easier to access multiple ecosystems.
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Hi Isel,
I like your post, but especially the connection you made to Fashion Nova. Any time I’m on Instagram, I get lots of ads from clothing brands that I’ve never even heard of. I think especially when it comes to clothing brands like Fashion Nova, they look at your data to see if you’d be likely to buy their things and then they show you ads. I think that Fashion Nova, in a way, experienced a network effect because from what I remember they were pretty small and grew a lot due to social media. I actually just looked at their Instagram and I didn’t even know that they have a kid’s and men’s line too.