INNOVATIVE BUSINESS MODELS IN THE DIGITAL AGE: A COMPARATIVE ANALYSIS

Abstract

The digital age has revolutionized the landscape of business, leading to the emergence of innovative business models that leverage technology to drive growth, efficiency, and customer engagement. This paper provides a comparative analysis of various digital business models, including platform-based models, subscription services, and the sharing economy. It explores how these models capitalize on digital tools, data analytics, and network effects to create value. The study highlights the unique characteristics, advantages, and challenges associated with each model, emphasizing their adaptability in an increasingly digital and competitive marketplace. By examining case studies from diverse industries, the paper sheds light on the strategic implications for businesses aiming to innovate and remain competitive in the digital era. The findings suggest that success in the digital age requires a deep understanding of technology trends, customer behavior, and the ability to continuously innovate business models.