“Any sufficiently advanced technology is indistinguishable from magic.” - Arthur C. Clarke
Technology has revolutionized the world and business is no exception. Till now, there have been multifarious technological advancements that have changed the way businesses operate and function. For example, the use of social media marketing and influencer marketing are gifts given to the business community by the developments in social media. Further, advancements in technology continue to happen and amaze the world. This blog is dedicated to the developments in technology that will likely take business organizations to new and bigger platforms in the near future.
Seven technologies for businesses to leverage in 2021:
“The great thing about this level of automation is that it frees people up. They don’t have to focus on these manual labor tasks that a machine can do.” These words by Josh Steimle highlight the importance of automation. There are several repetitive tasks that employees have to engage in over and over. Robotics automation frees them up by doing those repetitive tasks for them. Robots can be programmed to do repetitive tasks and employees can focus on other things that require their intelligence. For example, companies are now using chat bots to offer 24*7 customer support.
Companies where workers still perform all tasks manually should try to automate at least some of the repetitive tasks. Automation can significantly enhance workforce productivity, reduce employee stress and enhance employee engagement. Along with this, it also enhances employee happiness. When workers don’t have to engage in monotonous time-consuming tasks, they naturally become happy and exhibit increased productivity.
Big Data is another technological advancement businesses should leverage in 2021. Big data makes it easy for business organizations to understand customer behavior and needs. Once companies know these buying behaviors and needs, they can design their products accordingly and enhance sales. When products and services get catered to the needs of customers, customer loyalty also improves to a great extent. Additionally, big data can also help companies evaluate their finances in a crystal clear manner and evaluate their financial position. For all business organizations, striving to enhance customer experience and understand their customers, Big Data is a must to incorporate.
Virtual Reality is a technological invention that is incredibly close to a miracle. It has opened doorways for people to travel to different places virtually from the comfort of their homes. They can also see different processes taking place in front of their eyes without actually being where they are being conducted. For example, students studying dentistry can get glimpses of real-time surgical procedures virtually from anywhere. On similar terms, business organizations have started leveraging virtual reality to help customers experience their products before purchasing them. This is a way to stimulate them to buy the products and services offered by the organization. Business organizations looking to add an element of excitement to their sales process should certainly give virtual reality a try in 2021.
5G is the fifth generation of wireless technology. The adoption of 5G technology- the fifth generation of cellular capability has slowly paced up. It is one of the fastest technologies that the world has ever seen. Using the 5G network, people can download things quickly, experience much lower lag and latency. This is especially beneficial for businesses operating in a decentralized model. Also, the 5G network will likely increase the battery life of all devices by up to 10%. Incredible, isn’t it?
When it comes to customers, 5G can enable them to access massive information within a fraction of a second. This implies that 5G technology is here to offer immense benefits to businesses. Let’s see how the 5G revolution contributes to massive success for businesses in times to come.
Technology has transformed all aspects of businesses and HR is no exception. HR tech has made the functioning of HR professionals simpler and more efficient. It refers to the broad category of software and hardware technology used to automate a variety of HR functions. HR Tech became a trend in the world of business during the pandemic. As business organizations shifted to remote working, there emerged a greater need for technological tools that could help HR managers to operate and support the workforce despite the distance. With this, HR tech became prominent.
When talking about the benefits of HR tech, improved recruitment processes, reduction in data entry and duplication errors, streamlined onboarding , collaboration apps and secure access to HR documents from anywhere are some. All these massive benefits of HR tech have made it imperative for businesses to leverage this technology in 2021.
Cloud-based technologies have opened the gateway for businesses to become more agile, collaborative, and customer-centric. Cloud computing has made it possible for companies to connect to valuable business data and information from anywhere at any time. Along with this, with the availability of the cloud, companies no longer have to purchase and maintain individual IT systems. They can use the services offered by their cloud service providers and thus, save costs.
Additionally, the cloud also offers massive data security. Whether there is disruption due to a natural disaster or something else, companies can be assured that their data will stay safe and secure on the cloud. All these massive benefits of Cloud computing have made it a technology that is worth trying for every business organization.
Social Media for client engagement:
Social media platforms have seamlessly woven the entire world into a thread of connection. Today, there are very few people who do not exhibit an active presence on at least one social media platform. The active presence of different generations of people on social media platforms has made social media a great tool for customer engagement. Companies all across the globe are finding innovative ways to use different social media templates and platforms to enhance client engagement and loyalty.
For example, many companies are using Instagram reels to drive sales. The usage of social media for business purposes has proven to be extremely profitable for companies. There is no doubt that the business world will only see an increase in the usage of social media platforms to drive profits, in times to come. From potential customers living in metropolitan cities to a suburban audience, social media gives a perfect outreach.
Technology has brought tremendous advancements in the world of business. Thanks to the massive developments in internet technology, companies were able to keep functioning during the pandemic. As far as the world of technology is concerned, it seems that there are no limits as to where things can go. Advancements continue to happen and transform businesses for good and they are likely to continue doing so in years to come. The above mentioned are some technologies that are worth trying for every business organization in 2021.