Digital Economy 2023

  What is E-Commerce? E-commerce (electronic commerce) is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the Internet. These business transactions occur either as business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer or consumer-to-business. Reference: https://www.techtarget.com/searchcio/definition/e-commerce#:~:text=E%2Dcommerce%20(electronic%20commerce),or%20consumer%2Dto%2Dbusiness .   Advantages of Using E-commerce Faster buying process. Store and product listing creation. Cost reduction. Affordable advertising and marketing. Flexibility for customers. No reach limitations. Product and price comparison. Faster response to buyer/market demands. Reference: https://sell.amazon.in/seller-blog/advantages-of-ecommerce   An e-commerce platform that a new gym can use: GloFox’s Benefits to a Gym: Create a phone app for members, Glofox can ad...

  Reference: https://www.crushpixel.com/stock-photo/engagement-word-written-on-wood-2741750.html  What is engagement? Social media engagement is a term for actions that reflect and measure how much your audience interacts with your content. Social media engagement can include likes, comments and shares, but varies by platform. Reference: https://sproutsocial.com/insights/social-media-engagement/#:~:text=Social%20media%20engagement%20is%20an,shares%2C%20but%20varies%20by%20platform .   Key to Engagement It's important as it boosts brand visibility, builds a loyal community, and enhances the effectiveness of your online efforts. The key to engagement is Authenticity, consistency, and value are key. Publish meaningful, relatable content often and on a schedule, and actively respond to audience comments. This will foster genuine connections, driving higher engagement. Reference: https://blog.hootsuite.com/social-media-engagement/#:~:text=Social%20media%20en...

 ­­­­­­­­­­­­­­­­­­­­­  ­­­­­­­­­­­­­­­­­­­­­­­­ The definition of big data is data that contains greater variety, arriving in increasing volumes and with more velocity. This is also known as the three Vs. Big data is composed of larger, more complex data sets, especially from new data sources. These data sets are so voluminous that the traditional data processing software cannot manage them. Reference: https://www.oracle.com/ie/big-data/what-is-big-data/   Ethical Challenges Ethics refers to well-founded standards of right and wrong that prescribe what humans ought to do, usually in terms of rights, obligations, benefits to society, fairness, or specific virtues.   Informed Consent To consent means that you give uncoerced permission for something to happen to you. Informed consent is the most careful, respectful and ethical form of consent. It requires the data collector to give participants a reasonable and accurate understanding of how their da...

  “Salesforce Trailhead is an online learning platform that helps employees gain new skills virtually.” Trailhead is an online database that allows users to gain and improve upon skills and earn credentials from anywhere around the world at their own pace. Individuals who use Trailhead can earn a salesforce certification and expand upon their CVs. Trailhead offers a large variety of modules, projects, trails, and quests that individuals can filter regarding their skill level, products, and roles.  The individual can choose between 10-minute-long programs to 25-hour programs depending on the time available and their willingness to learn about the relative skill. The website is easy to use, the material is spread out on the page, and each area is divided up into separate sections meaning you do not have to take on the entire 25-hour module, you can divide it up within the sections and spread it out across several days. At the end of each section there are two questions to evalua...

  ­­­­­­­­­­­In this blog we will be discussing three examples of companies who have successfully implemented ERP systems to support their business strategy and business model. An ERP system stands for Enterprise Resource Planning, it is used by companies to customise, oversee and automate the time-consuming daily tasks within the business’s operation. Examples of business functions ERP systems are involved with are: human resource, inventory management, risk management, and supply chain management.   Amazon Business model: order management, financials, HR, purchasing, and receiving/inventory control. ERP type used: Systems Analysis and Program Development (SAP) and Oracle Fusion Cloud ERP Name of software provider : Oracle Corporation Details of how the system helped to provide the benefits: Amazon switched to using SAP software when they could not meet their long-term goals with their then-existing system. Amazon uses Oracle as their ERP. It has a huge database that holds ...

Information Systems are a “critical tool for all businesses. They allow you to monitor profitability, manage inventory and products, respond to customer demands, improve financial management, and provide banks, partners, investors, and key stakeholders with vital and timely information”. (1) Although an information system may be running efficiently and smoothly, the cost of maintaining, implementing, and running over a long period may be over their initial budget. Sometimes companies may run over budget before they complete the system. Time frame, a company may underestimate the time frame to create and implement their information system, by being behind in their time frame it can impact its budget, delivery date, and overall budget. An example of when it went over budget and past its time frame is: “the FiReControl project  “They wanted to “build nine networked high-tech control hubs for the fire brigade in England, replacing 46 existing centers”.  However, “The UK gove...