6 Innovative Ways We See Technology Changing Business

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There’s no denying that technology plays a huge part in our lives, both at home and work. This article takes a look into exactly how tech has changed the businesses and the way we operate. Here are 6 innovative ways we see technology changing business:


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1. Real-time Analytics

In order to keep up with customer trends and craft the most effective marketing plans possible, businesses need up-to-date customer data. The use of various technologies, from google analytics and social networks, to smart apps and real-time user experience testing, gathering data in real-time makes it possible to react instantly to customer trends and habits.

There are a number of tools that allow mass amounts of customer data to be gathered every day to be analyzed and sorted into customer sets that can be utilized in a variety of different ways.

This data can be shared between departments or office locations quickly and easily through online task management programs, making it possible to see the big picture no matter where you’re physically located.

2. Automation = Efficiency

The capability to automate internal functions through technology is making businesses from all sectors considerably more efficient.

Impacting both B2B and B2C businesses in all sectors, from insurance to healthcare, organisations can use automation technology to input data and perform basic processing and workflow tasks.

Automated software applications work around the clock to input, process and store information for a business. This is dramatically reducing the need for a human workforce while increasing both accuracy and productivity in data input.

Recommended reading: Digital Marketing: Trends and Opportunities in 2018

3. Paperless Workspaces

Running a paperless office can help streamline and improve collaboration, impacting your entire workflow process. In addition to this, it obviously will impact your carbon footprint - something that is important for all businesses. Paperless technology is even starting to make headway into industries that rely heavily on paperwork. For example, the healthcare sector and legal services industries rely heavily on paperwork, but they are starting to go paperless.

Switching to a paperless environment is one of the quickest and easiest ways to integrate technology into your workspace without having to invest heavily.

4. New Tech in Old Markets

While many in the FMCG sector have utilised technology for the last decade, it’s relatively new for a number of business sectors. Take the real estate market for example, which are rarely first in line when it comes to innovation. Smart tech is beginning to be used around the world to enhance the consumer experience of buying property.

Consumers shop for their insurance via apps these days, so why not a mortgage? Other tech including voice recognition could also start emerging in these once traditional markets, and new technology could soon be around the corner for estate agents, property developers and home-buyers alike.

5. Technology Tightening Security?

Over the course of the last two decades, cyber-defence has gone from a non-concern to an industry that makes billions every year.

This is all thanks to the technology industry, and in the modern era, having a strong antivirus and anti-hackers is imperative. All of the apps, cloud servers, and other online systems that business use every day mean that businesses must be much more careful with their security.

The world of technology is bringing new challenges to business, including concerns around data security in particular. With the advent of GDPR it’s even more crucial that businesses are on top of handling any personal data in a secure fashion.

6. Artificial Intelligence

While A.I may not have poked its head around the corner of your office door yet, it doesn’t mean that it is not on the horizon.

Artificial Intelligence has the ability to free up time and provide accurate completion of routine manual skills. It can help with a number of aspects of business, from improving analytical results to create a more customised user experience, predicting customer behaviour to enable 24/7 customer support.

This year is expected to be the year that the technology heats up and hits desks, making it a possibility at your workplace in the near future. There is no denying that A.I is here to stay - and it’s has proven itself as a valuable and effective way to perform routine tasks in a variety of industries.

Are you using any of these 6 technologies in your business? I'd love to hear from you in the comments below.

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