Digital Business: Trends, Benefits, and Models

DIGITAL BUSINESS

Table of Contents
INTRODUCTION...........................................................................................................................3
Digital business models...............................................................................................................3
Trends and benefits of digital technology and how virtual business can be managed in global
environment.................................................................................................................................5
E commerce principles.................................................................................................................7
Conclusion.......................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Digital business refers to those businesses which has adopted digital technology so that
manual process can be replaced with digital processes. In today's world traditional businesses are
converting into digital businesses. ASOS is the multinational e commerce business which sells
cosmetic and fashion related products via online. This report will discuss about advantages of
digital technology with implications of virtual business. Further will discuss digital business
models by considering business issues like cyber security. Report will evaluate collaborative
relationships and strategic alliances and e commerce principles of ASOS.
Main body
Trends and benefits of digital technology and how virtual business can be managed in global
environment.
Digital technology:
It refers to use the devices which is compact, versatile, light in weight and swift. With the
help of digital technology more information can be saved locally or remotely and can be taken
via virtually very fast. The information which is stored in the devices are in the form of audio,
video, photos and words. Digital technology has made life easy. There are some areas in which
transformation has observed like work, communications, travel, entertainment etc. nowadays
every device is coming with digital technology embedded in them.
Advantages:
social connectivity:
With the help of digital technology it is easy to get connected with friends, family etc despite of
that an individual is present in any part of the world. With the help of technology it has become
easy to share media in terms of photos, videos etc. in order to become socialize websites and
apps are designed so that users can use them. With the help of digital technology like texting,
social media, electronic devices like laptop, mobile etc. are making an individual busy so that no
one can feel isolated.
Communication speeds:
Internet speed is growing and getting better with time and helpful in making communications
better. Broadband facilities are useful in transferring huge information on the web instantly. So
that is why is video and audio can be seen in real time.
Learning opportunities:

An individual who is using internet can use and gain any knowledge via web. Educational
system has also shifted to online as courses are delivered online nowadays. Communication has
also become advanced which means that an individual can easily to interaction with each around
the globe. Now learning new language has also becomes easy.
Versatile working:
Digital technology has bringing transformation in the world. With the help of technology strong
connectivity is getting which is giving more opportunities to people who are working from home.
Trends of digital technology:
Artificial intelligence:
AI is becoming very common from last decade but it is succeed in becoming new trends because
it is influencing life and work at early stages. It is known for its good quality images, navigation,
apps, speech recognition etc. the usage of AI is not limited to certain extent but it is wide. It is
utilized in evaluating interactions so that underlining connections can be determined. It is also
helpful in predicting demands of services which includes hospitals etc.
Robotic process automation:
This is also an advanced technology which is helpful in making jobs automatic. This technology
is helpful in making business process automatic like interpreting applications, data dealing,
transactions processing etc. with the help of robotic process, repeated tasks also gets automatic.
Edge computing:
As the technology is evolving, cloud computing is becoming famous. Cloud computing is
growing and getting better day by day. Business are reaching and adopting cloud computing to
get cloud solution. Cloud computing is not able to deal with such large data so that is why edge
computing is made.
Managing virtual business is not easy as it has various challenges. Virtual workplace
refers to in which employees works remotely with their managers and co workers. Virtual
workplace is the future and in the future almost every organisation will get converted in virtual
workplace. ASOS comes under virtual organisation. In covid 19 crisis it has observed that
fashion of virtual workplace has increased. As it is helpful in reducing real estate expenses.
ASOS is saving huge amount key trends and advantages of digital technology nt of money by
eliminating offices and develop virtual workplace and offices are made for those whose work can
be done only in offices.