New to the term digital economy? Here are some frequently asked questions to fill you in;
What is a digital economy? Digital economy refers to an economy that is based on digital computing technologies. Also known as Internet Economy, the New Economy, or Web Economy, this being a relatively new concept.
In Bournemouth, digital marketing companies like ‘digitalSHIFT’ or ‘3 SIDED CUBE’ manage the transition between a software product and sales to a viable target audience. In tern, this boosts the financial worth of the Bournemouth area.
When did the phrase digital economy become relevant? The term ‘Digital Economy’ was coined in Don Tapscott’s 1995 book The Digital Economy: Promise and Peril in the Age of Networked Intelligence. It was among the first books to consider how the Internet would change the way we did business.
Essentially the growth of Bournemouth’s economy has been affected digitally since the start of the 21st Century, peaking in the last 4 to 5 years.
What makes up a digital economy? A digital economy has three main components: supporting infrastructure, which is hardware, software, telecoms, networks, etc that provide the substance for consumers. E-business: That is how business is conducted, any process that an organization conducts over computer-mediated networks. Finally, E-commerce which is the transfer of goods, for example when a book is sold online.
Bournemouth’s ‘American Red Cross Blood Donor App’ which won the ‘the Best Health App title 2016’ (Webby Awards) is a software component. A local example of E-commerce would be 3 SIDED CUBE’s role in the marketing process to turn creativity into online profit.