An enterprise architect must understand the business’s need for building either a platform or a product. A product is software that has “off-the-shelf,” more generic features and functions. In contrast, a platform is a software or service that allows external parties to extend and develop complementary functions and services. Choosing the right fit for business needs is extremely important after careful consideration of factors for driving product/platform development. 

Platforms are more flexible in connecting two or more parties, usually called producers and consumers. In recent days, organizations have been more focused on building digital platforms or digital products based on the business vertical’s needs. While anyone can build products on top of a platform, the platform itself is not the product. The program perspective difference between product and platform is important for project strategy, execution, and stakeholder management. The table below shows the difference between the product and the platform.