The term platform is frequently cited in tech circles but often misunderstood. Google, Facebook and Amazon are the platform giants of the 21st century but what exactly is a platform, and should your company be building one? Like most questions, the answer is, “It depends” but if you are looking to expand your user base, build closer relationships with suppliers and want to make it more difficult for competitors to take market share then you should at least consider a platform strategy.
When designed and executed correctly a platform can be a cost-effective way to scale your enterprise and build a sustainable and profitable business. As Accenture recently pointed out, the top 15 publicly quoted platform companies represent $2.6 trillion in market capitalization.
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Source: IT Strategy