Summary and Concluding Remarks

Abstract

The global growth in digitalization and in the application of digital technologies in business development is creating immense opportunities, but it also raises questions to be answered by research and practitioners. The traditional ways of doing business and of engaging with customers and ecosystems is changing through the use of data and will alter the future of many established platforms, concepts, and models. Through digital business models (DBMs), companies are bridging their businesses into a digital age, using data to guide their existing and totally new business endeavors. The existing structures of companies and the way value is created and captured in businesses is changing with the digital transformation. The vast amounts of data made easily available through, for example, the Internet of Things (IoT) influences (or forces) organizations to change their ways of organizing, managing, collaborating, and engaging with all types of stakeholders and ecosystems in exploring the multiple and multisided digital business opportunities. With this emerges a need for new theoretical models and empirical understandings of business modeling in today’s interconnected and global societies.