How Technology is Influencing the Business World Today?by Sarah Peter Contributor
The corporate world has started to experience some drastic changes over the last few years, and the pace is only gaining momentum with time. Whether companies are bracing for the change or, but the exponential rate at which the technology is developing, nurturing and throwing its impact on the business world is simply mind-boggling.
Just five years back, we experienced things that are almost non-existent today including social media channels struggling to integrate with consumerism, mobile phones mainly used by the general public and not by companies, the tiniest opportunity of cloud-based solutions for small and mid-sized companies, the inception of mobile apps only limiting to games and insignificant things like ‘poking’, etc.
As for this discussion, we’re going to see three major ways through which technology has pretty much changed the way organizations are running their businesses.
1. Mobile technology
The-next-big-thing comes in the name of mobility. For instance, Google is constantly working on improved algorithms that call for better webpage prioritization and browsing experience. Almost all the business-related aspects can now be handled remotely if your company has incorporated the use of a top mobile app. Today mobile technology has handled every process such as sales prospecting, content marketing, customer relations, and back-end processes including shipping, invoicing, etc. at a single tap on your smartphone. Besides the benefits for businesses, mobile are also intensely used from the customer end too. With the boom of Generation Y and e-commerce industry, more and more people have started to shop and sell different kinds of products through Amazon, eBay, etc. and share their purchasing and consuming experiences through a global network connecting countless contacts on forums and discussion communities. The new paradigm has literally redefined the marketing strategies used by global giants.
2. Cloud computing
Cloud computing has enabled the business in outsourcing some of their operational and development processes to third-party companies through seamless internet connectivity. Besides the variable data packages, the technology also allows the business for rapid expansion and mobility without the concern of downtime, server crashes, and other means of data loss. The biggest benefit small business has acquired from cloud computing is that now they are able to access resources that have made them competent to face the big guns in the industry on equal footing.
3. Precise customer segmentation
With an increasing amount of data piling in the digital world, it is becoming equally important to know your customers better than before. With analytics getting more powerful than ever, it has enabled the companies in locating their exact customer niche more precisely that in turn helps them create a better solution catering their core needs as intended. Even the Google account of one of your prospect can now tell you a lot about him or her including from where they belong, which browser do they prefer using, how they navigated to your website, which pages and products they visit frequently, for what time period do they stay, at what instances they leave, and other important variables. This is just scratching the surface, as more in-depth research can provide you vital insights that help the management to revise their operational procedures, offerings, marketing efforts, and other customer-centric activities in order to provide better solutions to their target audience.
Chris Diaz is a certified digital marketing specialist and technology enthusiast having worked with some of the best online brands across the globe. Besides his regular job and contribution in the digital world, Chris is one of the accomplished Dissertation Writers having a registered client base from all the major academic disciplines.
Created on Sep 13th 2017 13:22. Viewed 660 times.