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Digital Technology - Coggle Diagram
Digital Technology
Economical
The internet. This enables firms to offer goods for sale and enables consumers to browse for goods that they need.
Online communication using platforms such as zoom and e-mail enables very cheap, instantaneous communication across the world. It can be used to send information and requests very quickly.
Digital automation. Firms can use the processing power of computers to make decisions on output, prices and how to reach consumers.
Digital payments – credit cards, Apple Pay, Google pay, bitcoin, bank transfer. A digital economy is moving us towards a cashless society.
Automation. Increasingly the digital economy relies on AI, mass use of electronic data and automated technology
Social media. To a lesser extent, social media is an aspect of the digital economy. With individuals using it share recommendations about business.
Easily influenced by social media content online which might lead to negative impacts on people such as depression etc.
Political
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Able to interact with political leaders, organize, and voice their own opinions on political matters.
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Politicians are able to receive hate mail and death threats as online communication can be quite convenient.
Social Media
Advantage
No common space to meet, more convenient
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Individual
Advantage
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Shopping has been more efficient and convenient with more shops to browse, a lot cheaper
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Disadvantage
over-reliant, lazy, addiction
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