Technological innovations have cut across every facet of human life and have revolutionized the way we do virtually everything. From communication and computing to travel, business operations, in particular, have benefited from the variety of devices and processes birthed by tech.
Businesses that have been able to adapt and maximize the utility of those technologies have consistently stayed at the top, while those that have been slow to adopt them have often withered away because they simply could no longer compete with the same efficiency as their counterparts. Here are five ways by which you can easily apply technology to give your business an edge if you haven’t already
In the past, collaboration referred to memos and critiques at meetings (Sometimes taking up to 15% of a company’s time and up to 50% of senior managers’ time) or via email. Now, you have the option of boosting the collaboration process by using any of the various collaboration suites like G-Suite, Slack, or Trello.
The benefits of these platforms are that they allow for real-time interaction, without the waiting period that is usually associated with traditional methods, even going so far as to allow multiple people to work on a document at the same time. Secondly, it removes the anxiousness that’s present with physical interactions and encourages socially awkward people to express themselves comfortably.
Research and data collection have always been a mainstay in the scientific world, driving research into everything from cryptology and the latest smartphone features to sexsomnia. Businesses have begun to see the massive potential in data and analytics now too.
Most businesses already store information digitally, but few of them are maximizing the potential goldmines that exist in the data they have. The benefits of mining your business data are usually in the form of business insights that could shape your strategy by helping you focus resources in ways that maximize ROI.
If done well enough, data science can even help with accurate predictive analysis, letting you know how much of a product to stock at a particular time and exactly what prices would bring in the most sales, for instance. You can even take analytics from phone calls and factor them into the calculations.
Hiring freelance or off-site workers is not a new thing, but it has never been as easy as it is now. Businesses that utilize off-site workers have access to a talent pool that spans the entire world, thus ensuring that they can select the best workers to fit their needs without having to worry about the length of the daily commute or other such considerations.
More to the point, there are cost savings to the worker as well as the business, especially if it’s a freelancer hired on a per-project basis.
With all the reliance that is being placed on tech nowadays, the number of companies that take a lax attitude when it comes to securing their data is astounding. Relying on basic anti-virus programs is simply insufficient when you have information on your servers that could be stolen or be used to cripple your business and blackmail you, as was the case with the WannaCry virus.
Specialized programs exist for small businesses, and when combined with regular inspections by a professional, you’ll be certain your data is safe.
5.AI and Automation
Although AI tech is still being refined and improved in several areas, it’s already being used to great effect by businesses in various industries.
Firstly, chatbots have become popular as a means of offering stellar customer service even when facing funds and staff constraints. With chatbot tech in place, you can take an omnichannel approach to get the word out about your goods and services with the assurance that all inquiries will be attended to promptly.
Marketing automation is also an area you should look into. You can automate everything from lead generation to email marketing and CRM using an array of software.