User:LouW1818

Digital Economics refers to the bigger picture of how technology can enable businesses transform, not just cut costs but grow new revenues, delight customers and create new products and services.

Digital economics accepts that by changing IT models the costs will change. It takes into account the value proposition that the organization will better positioned to be more efficient, resilient and able to focus on value-add activities instead of keeping the lights on. Importantly by supporting the technology with the right culture, an organization will gain the ability to quickly deploy enabling innovation, agility and pace to market, to name just a few.

Digital economics goes further, it incorporates the strategic outcomes. Cloud enables future technologies like AI and ML which opens new opportunities from data, creating business intelligence which can help companies get closer to their customers, understand trends and respond quicker to the market. To remain relevant and be a market leader this is key. Having an innovative culture means you can release products and services quicker and ultimately grow revenues. Therefore we are no longer just talking about changing cost models, we are talking about business transformation, customer delight and growing revenues. This is digital economics.

The term is fairly new. Gartner are using it, others are still calling it the value proposition. Gartner publications on Digital Economics Digital Economics and Performance Measures Primer for 2019 Published 14 January 2019 - ID G00710127 Exploiting the Value of Digital Business With Digital Economics, Publication refreshed 3 July 2019 – ID G00311450