3 Ways Technology Has Revolutionised The Business World |
Posted: March 30, 2019 |
To say the embracement of technological advances has revolutionised just about every aspect of modern life is, quite frankly, an understatement. Perhaps nowhere is this more obvious than in the world of business, where the hunger for profits drives industry innovation in the hopes of getting ahead of the competition. So today, the forex trading experts over at Learn to Trade are taking a closer look at the significant role modern technology plays in the business world, demonstrating just 3 of the many revolutionary ways it continues to evolve the way we conduct business. The Cloud The Cloud - we don’t know exactly what it is, we don’t know exactly where it is - but we know we love it! The mysterious digital storage solution remains a topic of constant intrigue to the common man - providing an accessible internet location within which you can store data anywhere in the world with a strong internet connection. In layman's terms, this means businesses are able to depend on a (very reliable) virtual backup system, optimising the process of backing up important data and documentation with great ease and practicality. Both financially efficient due to minimising the need for either additional external or internal storage and highly functional due to the ease of use and reliability of security, the Cloud has now become one of the top weapons in any business’s arsenal. Open all hours From smartphones that allow up to watch films at our fingertips to social media channels that create avenues for us to remain online all the time, the mainstream availability of the internet has changed just about everything. With the introduction of online shopping, for example, the retail industry has become, in many senses, a 24-hour market. Customers are able to access virtual stores at all hours of the day and night, exploring product ranges and placing orders at their will. Similarly, companies dependent on a global market are now able to operate around-the-clock efficiency thanks to the international interconnectivity provided by the internet. Trading markets such as forex, for example, are able to capitalise on being a digital platform by conducting business on a 24/5 basis, with the internet enabling seamless communication across the world. The 21st century consumer Technological advancements haven’t granted businesses all the power, however. Of course, business is fundamentally driven by the consumer, and with the evolution of business practices comes the progression of consumer expectation. At this point, just about everyone is signed up to at least one of the major social platforms. While social media provides businesses with a revolutionary new means of marketing within itself, it can be just as detrimental as it can empowering. With consumers able to share brand experiences through post interactions and reviews, the power now very much lies in the hands of the customer. Technology has become so prominent in our everyday use of social media that brands now simply must have an active (and reactive) social media presence, meeting the ever-increasing demands of the contemporary consumer. From admin to consumer-brand relations, technology continues to revolutionise the professional world day in, day out. As is the nature of the technological evolution, business practices will continue to change at a no-doubt rapid pace, meaning the business world of tomorrow may well be unrecognisable… Author bio John James is a content writer for Learn To Trade, the foreign exchange education and learning specialists - offering a range of training courses to help people understand the currency trading market, as well as its opportunities and risks.
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