How does technology drive changes in traditional business models? 🔊
Technology drives changes in traditional business models by enabling digitization and fostering new revenue streams. For instance, companies can leverage e-commerce and digital marketing to reach broader audiences, while subscription models allow for continuous customer engagement. Moreover, technologies like cloud computing and big data analytics facilitate operational efficiencies, enabling businesses to reduce costs and improve decision-making. Consequently, traditional businesses can adapt and evolve to meet modern consumer expectations and competitive pressures.
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