Written by Steven Chen, MBA.
Source: wikipedia.org.
Overview
The installed base is probably the most commonly leveraged moat among technology-driven companies. Without doubt, the technology field is full of disruptions and revolutions. As a result, it is difficult for businesses to endure their competitive advantages, and hence, for investors to find long-term winning bets. Nonetheless, the strategy of growing and focusing on install base has helped many companies to deliver consistently high returns for their owners. The reasons behind are not so complicated to understand.
First of all, the increasing complexity of technologies