Business and Technology are not mutually exclusive fields. In fact, they go hand very much in hand. In today’s world, your business is only as good as the technology you are using. This is true especially in recent times when the tech tools at your disposal are advancing at a breakneck pace. Let’s have a look at some of the technical tools that you can make use of to increase your business.
A) Cloud Computing
While a lot of people know about cloud computing. But this tool is perhaps the most understated of all the ones listed here. Cloud computing can increase the efficiency of an enterprise manifold. At its core, it is a medium of data storage that makes for a centralized database is accessible to any internet-abled device (which is practically any device these days).
In recent times Cloud computing is gaining traction to the point where it’s an accepted buzzword, but many businesses still fail to implement it correctly. It is especially useful in the case of Tech or SaaS (Software as a service) companies. They can improve the quality of their products and hence, increasing their user base. But, most importantly, the cloud can be used for internal communication improvement. Cloud will allow the entire working force to be in touch with each at all times and will never find them without the resources necessary to carry the task.
B) Big Data
Big data is the bigger brother of Cloud computing. This tech is also gaining traction since the 2010 but remains underutilized. As its adoption rates continue to rise, better ways to gather large amounts of data continues to emerge. Further, thanks to analytic capabilities, businesses would be able to a much clearer picture of their customers’ identities and behavior and make accurate decisions and predictions on the company’s behalf. Up until now the primary users of big data were large multinational corporations and businesses, but the landscape continues to change.
Today an average customer has so many choices at their disposal. Companies can no longer afford to make their offerings generalized. They have to cater to specific needs. Thus, the better you know about your customers better will be your marketing messages, your product offerings. If a company decides to ignore this well good luck to you, you might need it.
C) 3-D Printing
I have talked about 3-D Printing a couple of times before. This tech can revolutionize the business sector especially the manufacturing industry. Yes, I agree that 3-D printer costs a lot but just like any other emerging piece of technology the prices are on the decline. Just because the 3-D printing is best suited for the manufacturing sector, there is a floating misconception that only the manufacturing or product-based businesses can improve with the help of the growing trend. However, this is not the case.
Yes, 3D printing will benefit the manufacturing industry greatly, but it can also serve as a medium for creating prototypes and creating biomedical applications. Furthermore, any product produced using 3D printing will be cheaper considering it previously required more expensive, more complex equipment. Which means reduced costs for businesses.
Also Read: Top 10 Trending Tech Skills in 2018
D) Wearable Technology (Smart Watches and Lenses)
If you notice, we started with PCs, then we switched to handheld PDAs and then to smartphones. If you see the trend, our screens are reducing in size, and we are prioritizing for portability. In the coming times, the wearable tech would be the dominant force. Up until recent years, wearable tech (Smartwatches) were a nerdy thing. People started taking notice of it when the Apple Watch was announced, while how successful it was is up for debate, but there is no doubt that it bought wearable tech into the mainstream.
This wearable technology changes the way people interact with the world. Mobile searches will slowly transition to voice-based and change the course of SEO and push the very boundary between what is the best online presence. Users would want a seamless blending of real-world and digital data. And the traditional websites will eventually fall out of the limelight in favor of in-device applications. As a business owner, it is, and it pays to start preparing for these changes as early as possible.
E) Business Security
All the above talk about cloud computing, wearable tech, online presence reinforces another the need for another feature, i.e., Security. Nowadays, businesses have to be much more careful with their security measures. The time when major trade would happen over a phone call is long gone. In the past twenty or so years, cyber-defense has gone from a non-concerning geeky hobby to a billion dollar industry. This is important because every business holds sensitive customer data and has raw internal data as well that if reaches in the wrong hands can be bad, really bad. Frequent security issues can lead to trust issues between the customer and the business and will eventually lead to a decrease in the customer base.
So, having a reliable antivirus, using intelligent intrusion prevention, and detection system are of paramount importance. Of course, no system can be 100% hacker-proof, but the stronger it is, the less likely greedy people are going to target it. It is basic logic that hackers go after the weaker systems, so those who don’t invest in security solutions are the primary targets for hackers.
While it is impossible to decide what tech tool would work best for you. New tech tools are being made available almost every single day. The tools mentioned above are just means for you to expand your business. How much you decide to invest in these is totally up to you
I am a sophomore at IIT Roorkee currently pursuing my B.tech in Metallurgical and Materials Engineering.