Innovation is a great way to succeed in this digital age. The path of innovation in business means doing something different, smarter or better that will make a positive difference in terms of value, quality or productivity by using emerging or proved technologies of the world.
The technology which has already proved itself in the last two decades is of course the information technology (IT). It has dramatically changed the lives of individuals and organisations. Currently, online shopping, digital marketing, social networking, digital communication and cloud computing etc are the best examples of change that came through the wave of information technology.
Now accurate business planning, effective marketing, global sales, systematic management, real-time monitoring, instant customer support and long term business growth cannot be achieved at the optimum level without IT.
The importance of IT in business
The success of every business depends on certain factors. Some of which are accurate analysis, choosing the right technology and the future vision. Research from the last two decade has proved that those organisations that do invest in technology and choose the path of innovation increase their market share, financial figures and overall competitiveness.
Information technology is the only technology that provides you the opportunity to analyse specific data and plan your business journey accordingly. It also provides you many tools which can solve complex problems and plan the scalability (future growth) of your business. In the modern age, it is proved that digital marketing is a great tool that let you promote your products or services to the global market while sitting in the comfort of your remote office or home.
And thanks to cloud computing and modern communication which enable you to form a global organisation, manage and monitor its virtual offices all over the world. Now I will briefly explain how information technology plays a vital role in different phases of business.
Making a decison
Speed and accuracy are at the heart of making the right decision for your business. Every successful organisation has to go through a comprehensive market research process that enables management to make the right decision. Market research can be done in many ways through online surveys, forums, blogs, group discussions using the World Wide Web and of course through in-person interviews as well.
Currently, Big data, Google Analytics and Microsoft CRM Dynamics are also great tools to extract useful information which can impact decision making. These online tools not only provide real-time responses from the potential audience but also ensure the accuracy of data by minimising the risk of human errors.
Marketing and Business Growth
The heart of the business success lies in its marketing which enables the management to identify its target audience first and then observe their trends and needs. The overall marketing covers public relation, advertising, promotion and sales which subsequently impact business growth. Many types of marketing can help you reach your potential customers. But I will briefly explain digital marketing here which was the dream in the past without Internet technology.
Digital Marketing is a modern phenomenon that let you promote your products or services all over the world. It is a broad term that includes many concepts like search engine optimisation (SEO), pay per click (PPC), blogging, discussion forum, email shot, SMS, MMS, social media marketing and Smartphone app advertisement etc.
Currently web market is booming at a very fast pace because most entrepreneurs have understood that long term success in business is not possible without a digital presence on the internet. Millions of new websites are being added to the internet every year.
Customer Support and Satisfaction
Higher level of customer satisfaction is the key to success which cannot be achieved without a real-time customer support process. Business success depends on knowing its customer needs, trends, behaviours and satisfaction level. Effective communication is the best tool to understand the customer demands, problems and their solutions. Thanks to the Internet Technology that has enabled us to communicate with millions of potential or existing customer in real-time.
IT provides many channels to communicate with the customer without going out in snow or rain. Some of these channels are email, webinar, social media, member portals, online newsletters and text or multimedia messaging through the smartphone. Enterprise organisations normally use customer relationship management systems (CRM) to hold valuable data for understanding customer behaviours and future needs.
I think, it is impossible to attain long term business success without leveraging the benefits of information technology in this digital age. The companies have to bear a reasonable cost to achieve this success because using an innovative approach in business strategy, employing highly trained IT professionals and making the right decisions at right time are the prerequisite of business success. As IT solutions continue to increase the productivity, efficiency and effectiveness of business operations and communication, business will continue to rely on Information Technology for success.
Author: Abid Afzal B.
Quoter: Việt Hoàng