When Amazon realized they where only using 10 percent of its processing capability and after spending 2 billion and several years building their online infrastructure; they saw a way to make money from the unused infrastructure. The components of Amazons strategy are Simple Storage Service also known as S3, Elastic Compute Cloud, and Mechanical Turk; all three of these components are alternative methods of profit for this company. The S3 is where Amazon is basically renting out online storage on their drives, charging business 15 cents per gigabyte a month for storage use. The Compute Cloud is where Amazon rents out processing power to other businesses with a fee starting at 10 cents per hour for one basic server. The Turk uses a combination of processing of information and actual people. Companies upload the work to Turk and people pay for these services and Amazon gets 10 % commission. These three services have saved several companies lots of money in costs. In my opinion Amazon is moving from their core competency as an online retailer; focusing on being a web based global computing platform. I believe that Amazon might face issues of keeping up with the ever changing technology when other globalized companies are able to.
Data - Description of activities and events that have been recorded.
Knowledge – The data that has been processed a put into order to understand, accumulate knowledge, experience, and proficiency with potential problem.