Definition
Ability of a computer system to run application programs from different vendors, and to interact with other computers across local or wide-area networks regardless of their physical architecture and operating systems. Interoperability is feasible through hardware and software components that conform to open standards such as those used for internet.
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Standardization affects markets in a variety of ways: 1. They generate more value for users. 2. They increase interoperability of products. 3. They enable the overall market to grow faster. 4. They re ... Read more
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