Whereas traditional business has been done by one company selling products and services to a customer, the platform changes the traditional dynamics of doing business.
Platforms uncover new sources of supply and demand and create network effects. This empowers exponential numbers of buyers and sellers to engage through the platform. The more users on the platform, the more powerful and valuable it becomes.
There are many manifestations of the platform business model, but essentially it presents new possibilities to create business value and competitive advantage.
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