Technology has changed every aspect of our lives and business is no exception. Here are some of the ways that technology has changed business.
Facilitating Business Monetisation
Mobile technology has changed the way that businesses monetise, and they are able to do it more than ever before. It’s far easier now for customers to buy products for companies without so much as walking into a store. The payments are made electronically and through smartphones, tablets or laptops. As long as there’s an internet connection, consumers can purchase goods and services anywhere at any time.
Enabling Business Real-Time Analytics
It’s now easier than ever before for companies to keep up to date with customer data, as well as pretty much any type of analytical data. This is excellent news for businesses who can now track all sales and marketing campaigns etc. electronically, with real-time data. This also allows them to react to customer trends making it easier to know what the customer wants and when they want it.
Facilitating Interactions via Business Apps
Before, the only real way for customer and company to interact was either in person or over the phone. After the launch of the internet more and more companies started going online which made communication easier. The introduction of apps on smartphones again expanded this communication and now customers can message companies directly, usually getting a reply within a few hours. This has helped companies and consumers form a closer bond and more of a trust.
The Rise of the Cloud
Thanks to the cloud and other similar online storage solutions, a business can now access data from anywhere. They also spend far less money doing this as opposed to paying for the software needed to store massive amounts of data.
Supporting Business Security
Due to all this information being stored online, businesses must be a lot more careful. Hackers can hack pretty much anything that’s on a computer or online. This has led to a rise in online security protection systems. No system is 100% hacker-proof, but the better the security the system the safer the data is. With constant checks and upgrades, data is stored more efficiently and safely than ever before.
24/7/365 Business Connectivity
Before the technological age, a business’s hours, such as 9-5, were the only time that people could connect with or buy from the business. The rise of technology has made the world connected 24/7, 365 days a year. You can send an email to someone at 4 am conference call from the other side of the world. This progression has led to the rapid expansion of what a business can do, and where people can do business from. These days, you can work anywhere in the world, as long as you have a smart device and an internet connection.
These are just some of the ways that technology has changed business. With ever-advancing technology that has no signs of slowing down anytime soon, I can’t wait to see what is yet to come.