IB Digital Society 4.2A Business Key Definitions

The use of technology to perform tasks without human intervention.

Datasets so large, fast-moving, and varied that ordinary tools cannot store or process them, usually described by the four Vs: volume, velocity, variety, and veracity.

Using computing power, storage, and software that run on a provider's remote servers and are accessed over the internet, rather than on your own device, usually paid for as an ongoing service.

The use of digital systems to change how an organization operates and delivers value, such as moving sales online or automating processes. It is broader than digitization, which is simply converting analogue information into digital form.

An innovation that creates a new market or business model and, over time, displaces established companies and ways of doing business, often by making a product or service cheaper or more accessible.

The buying and selling of goods and services over the internet, including online stores, marketplaces, and digital payment systems.

A business whose main product is a digital platform that connects two or more groups, such as buyers and sellers or riders and drivers, and profits by controlling and taking a share of the exchanges between them.

Advertising aimed at specific people based on data about their behaviour, interests, and characteristics, so that different users see different ads chosen to match their profile.