Digital Strategy (AQA A-Level Business): Flashcards
📚Flashcards
Practise the cards
10 cards from this deck
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Practise the cards
10 cards from this deck
2 factors when evaluating new digital tech
2 factors when evaluating new digital tech
ROI (return on investment) & impact on operations
Importance of timing in tech adoption
Importance of timing in tech adoption
As important as selecting the right technology itself
Major cost disadvantage of digital innovation
Major cost disadvantage of digital innovation
High development costs with potential financial losses
Example of tech market rejection (1992)
Example of tech market rejection (1992)
Sony MiniDisc - too expensive, never gained market success
Main benefit of 3D printing in production
Main benefit of 3D printing in production
Produce prototypes quickly & cheaply
Effect of automation on production methods
Effect of automation on production methods
Shift away from labour-intensive production
Definition of big data
Definition of big data
Vast info from social media, loyalty cards, etc.
Definition of data mining
Definition of data mining
Analysing big data to identify correlations & trends
E-commerce advantage: customer base
E-commerce advantage: customer base
Reach bigger customer base without physical stores
ERP definition
ERP definition
Enterprise Resource Planning - monitors dept activities