In order to capture the most value out of the platform business an architecture, which includes both the technology and business sides is necessary. This enables companies to reap the benefits of a network effect and achieve growth and adaptability through integration with external providers. Such platforms need to be reliable, usable, and always available in order to contribute to the creation of customer benefits.
On the other side the platform operator must keep the platform attractive. For this the collection and analysis of large data sets is necessary in order to sustain the appeal of the platform through increased customer benefits. This allows the company to continue enjoying the benefits of the network effect.
Companies no longer need to excel in everything internally. Instead they should focus on developing and perfecting their core competencies – the things that truly make them accomplished and prosperous. By utilizing the resources of a trusted partner for their own gains leaders will be freed up to pursue the creation of superior customer value and ultimately success.