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Digital transformation (DT) is the process of adoption and implementation of digital technology by an organization in order to create new or modify existing products, services and operations by the means of translating business processes into a digital format.
Electronic business (also known as online business or e-business) is any kind of business or commercial transaction that includes sharing information across the internet. Commerce constitutes the exchange of products and services between businesses, groups, and individuals and can be seen as one of the essential activities of any business.
The digital economy is a portmanteau of digital computing and economy, and is an umbrella term that describes how traditional brick-and-mortar economic activities (production, distribution, trade) are being transformed by the Internet and World Wide Web technologies. [1] [2]
Typical e-commerce transactions include the purchase of products (such as books from Amazon) or services (such as music downloads in the form of digital distribution such as the iTunes Store ). [1] There are three areas of e-commerce: online retailing, electronic markets, and online auctions.
A digital ecosystem is a distributed, adaptive, open socio-technical system with properties of self-organization, scalability and sustainability inspired from natural ecosystems. Digital ecosystem models are informed by knowledge of natural ecosystems, especially for aspects related to competition and collaboration among diverse entities. [1 ...
The term "Digital Marketing" was coined in the 1990s. Digital marketing was formally known as and referred to as ' online marketing ', 'internet marketing', or 'web marketing'. Worldwide digital marketing has become the most commonly used term and has taken off in the business industry, especially after the year 2013.
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