Businesses today have relied on technology to help them progress from a struggling start-up to the great successes that they are now. It’s no secret that a great percentage of start-ups are still failing, simply because it is just so hard to make your mark in the world of business these days. There just seems to be hundreds, if not thousands, of businesses all doing the same thing, and it’s down to you to make your business one of those that people come to first. How do we think this is largely achieved? Through the help of technology.
There aren’t many businesses out there who don’t rely heavily on technology for pretty much everything they do. The collaboration between humans and technology can be extremely powerful, if you’re using the right software, or the right piece of equipment.
So, I want to explore a few ways that technology might transform your business.
How Technology Accelerates Your Competitive Edge
There are so many different ways that technology can help you gain that competitive advantage and see more profit.
Improved Customer Engagement
Mobile applications, social media platforms and tactics such as SEO help enhance your marketing campaigns and give them the reach they need in order to bring in more customers. Incredibly fast and ubiquitous internet technologies also ensure that you are always connected to your customer and they are able to connect with you instantly. The benefits of big data storage and predictive analytics allow businesses to track sales and gain customer insight in order to improve future marketing campaigns that intelligently segment your consumer audiences.
Technology provides us with so many tools that help businesses across all industries to save time and save money in the long run. We can pre-schedule posts through the use of automated social media technologies. Remote communications enable us to work and connect with others without having the added cost of a physical office space. Things like cloud storage and paperless archiving are just so convenient and cost effective. We are even seeing technologies such as microchips being used to help track deliveries and drones as an alternative transportation solution. The opportunities for improvement are endless when it comes to technology.
Technology in Manufacturing
The use of automation, the internet of things (IoT) and robotics is priceless when it comes to the efficiency of a production line. A production line seems to be one of the hardest areas of a business to keep running smoothly, simply because there are so many elements involved. There are technologies such as chain conveyor systems for example, which move heavy loads from one section of a warehouse to another, allowing your employees to use their time to do the more meaningful tasks they have been hired for.
One the biggest challenges in manufacturing is break downs and ‘down time.’ This results directly in a loss of profits. The less products you are able to produce in a day, the less money you make. It’s that simple. We cannot deny that through the impact of AI and IoT technology, machines are able to significantly increase our visibility and perform what is called predictive maintenance. Machines are able to pick up the smallest defects that might be missed by the human eye and therefore reduce product errors and reduce possible costs to the business. AI provides a system that is able to learn from the machines, analyse, forecast and detect any issues at an early stage, reducing maintenance costs and improving efficiencies.
There really are technology solutions for pretty much everything we do in business, and it’s the foundation to many of the transformations we’re seeing today.