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What is Digital Business – Definition, Meaning, Examples

Information technology transformation has crafted the new term “Digital Business” to the world. But what is digital business? Is it different from E-commerce or digital marketing. Let’s try understand it with examples.

What is Digital Business?

Information Technology transformation is happening everywhere.

Information technology and digitization have created new opportunities for startups. It creates opportunities for existing businesses as well.

It has started changing the way businesses do their internal as well as external operations.

Now, companies have started using digital technology to transform their businesses.

Digital Business combines technology, people and things that disrupts existing business models.

It has started impacting virtually all business functions and industries.

In this, digital or information technology becomes a core part of the businesses.

The Etymology of the term

Origin and meaning of the word “Digital

Let’s try to understand the origin and etymology of this term.

The word digit is derived from Latin word Digitus or Digitalis.

  • Digital=Digitus, Digitalis, Digit+al
  • Meaning of word digit: Pertaining to finger or toe, numeral below 10

Origin and meaning of the word “Business

The word Business is derived from Bisignis or Busy Ness.

  • Business: Bisignis or Busy + Ness
  • Meaning of word Busy Ness: The state of being busy or state of being much occupied or engaged

According to Komprise, Digital Business uses technology as an advantage in its internal and external operations.

Let’s try to understand it with definition, meaning and examples.

Definition

Definition 1

It is the creation of new business designs by blurring the digital and physical worlds. It’s the creation of new value chains and business opportunities that traditional businesses cannot offer.

Definition By Gartner,

Definition 2

It uses technology to create new value in business models, customer experiences and the internal capabilities that support its core operations. This term includes both digital-only brands and traditional players that are transforming their businesses with digital technologies.

Definition By Liferay.

Definition 3

Digital business creates competitive edge based on unique combinations of digital and physical resources. They do things that others cannot and in ways that build a comparative advantage.

Definition By Accenture

Digital Business Examples from India

Below said are the examples of E-business organizations in India.

  • Ola
  • Uber
  • OYO
  • NoBroker
  • JioMart
  • ZoomCar
  • SWIGGY
  • Google

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