Technology has been helping us solve problems where human power alone just isn’t enough. For every big problem digital technology helps solve with much fanfare, thousands of little ones are eliminated each day without much notice. In this article, we bring you some common business problems that are solved with a little help from digital technology.
1. Faster Task Completion: Arguably the best gift that technology has provided the business world s a drastic increase in productivity. Technology allows us to complete tasks that historically took days in mere moments. One of the pervasive examples of digital technology increasing productivity is the development of spreadsheet software like Microsoft Excel. It’s not difficult to realize the impact spreadsheet software would have on businesses; from tracking expenses and sales, to payroll and productivity. It replaces the many tedious tasks of manually storing, compiling, and sorting of unorganized data with a simple systematic digital solution. Saving businesses time and money.
2. Content Discovery: We have the internet to thank for the explosion of content and content creation, both user-generated and otherwise. But the biggest benefit from a business perspective has actually come from the search side of things. The founding of search engines like Google means employees today have more knowledge and resources than ever at their fingertips. Employees today are far better at finding what they need when they need it.
3. Lower Administration Costs: Companies’ administration has often been a costly but essential business function, and unfortunately one that is difficult to efficiently scale. This is one area where technology has had an enormous impact. Almost all paper processes can now be done digitally, from signing contracts, to filling expenses to managing invoices – lots of these time-consuming tasks can now be automated.
4. Remote Working is Easier: Of course, remote working only actually works when you have at least some technology in your corner. But in recent years, the dream of working from anywhere in the world has been more fully realized. Specifically, the integration of smartphones and various app integrations that come along with it, the improved distribution of speedy WiFi (and declining cost of mobile data), and the general improvement of various devices to talk to each other, have all helped facilitate true remote workers. This doesn’t even mention the expanding implementation of cloud technology and the declining cost of storage. The result of all of these changes is that it’s actually feasible now to work from nearly anywhere, anytime.
5. Improved Customer Targeting: Businesses have always had a love/hate relationship with advertising and marketing. Yes, they love new customers walking into a store, but they hate the idea that they might not be using their dollars as effectively as possible. It’s not like a sales pitch, where the person in the room is ready to buy because you’re in the room with them – you might spend all the money in the world talking to customers on a radio ad, but many won’t even be in the market for your product.
The ability to use data and software to both capture customer data, and then actually do something with it, is one of the most important tech innovations in business today. And it’s to solve this fundamental problem: how do you talk to the right people at the right time? For example, the ability for digital display ads to target based on demographic, location, and contextual information, and then re-target based on past ad exposures, has been tremendously beneficial for companies using those channels to get their message where it’s needed. Likewise, email targeting based on past product searches and views has helped e-commerce websites drive conversions and sales at a much higher rate. It’s all about talking to the right person at the right time, not all the people all the time.