Corporate technology influences smart business decisions
Business intelligence today has become so very important. Corporate technology needs such intelligence in order to provide the needed platform to compete.
Corporate technology, whether used in networking, information research, and distribution system, or in product marketing or branding strategies, always helps to enhance business performance. And we can’t rule out any of the potentials. Corporate technologies are evolving and even becoming better. Social media, mobile technology, data storage, networking, and many other technologies are influencing important day-to-day business decisions.
Corporate Technology Influencing Data Analysis System
How does information technology affect the performance of a business? One of the biggest examples of the use of corporate technology would probably be the implementation of a customer analytics system. Two years ago McKinsey & Company conducted a study to get some close insights. The study concluded that companies that master the skills of customer analytics are likely to have profits more than their competitors. The study added that companies using customer analytics are more successful in retaining their customers and outperform competitors by making sales from the existing customers. This is why they can achieve above-average results.
Corporations use customer analytics to improve response rate and perfection in customer targeting, reduce marketing campaign cost, deliver the right message to the right segment of customers and thus increase their Return on Investment (ROI).
Corporate Technology Influencing Communication System
It’s getting better every way. Companies are now incorporating Bring Your Own Device (BYOD) policy. Corporate solutions are embracing mobile communication strategies for quick internal interaction. This is where you’ll see mobile technology evolve amazingly. Also, a study conducted by Towers Watson in 2013 showed that around 56 percent of employers prefer to use social medial tools, like instant messaging services, as part of their company’s internal communication system.
Corporate Technology Influencing Marketing Methodologies
No corporation can ignore the potentials of online marketing technologies. A new article published in Harvard Business Review pointed out that corporations must use conversion optimization, email marketing, search engine marketing, remarketing, mobile marketing and marketing automation tools if they don’t want to miss out the most potential opportunities of the decade. Internet marketing techniques offer ample amount of opportunities. The biggest advantages are that corporations now can have increased customer reach, provide better customer support and improve consumer experience. With better integration of right skills, knowledge and technologies, corporations are now gradually shifting to the trend of internet communication.
Corporate Technology Influencing Accounting Process
Very effective accounting software can be found nowadays. This is another use of information technology which has helped the accounting system of many business houses. This effective information recording and distribution system help organizations simplify large accounting transactions. With the advent of computer technology, most organizations now enjoy this privilege. This is why it can be said that advancement of corporate technology helps in authentic and accurate information flow and thus help entrepreneurs take better business decisions.
Smart Business Intelligence in Inventory Management
Corporate technology offers smart business intelligence.
With advanced corporate technology solutions, you can also have much better control over your inventory. Some of the retailers in the US have already started using high tech solutions to manage their inventory. These inventory management corporate technology solutions are easy to use. For example, Wal-Mart used such solution to track the inventory of denim menswear and apparels.
Nii Ashalley
Nii Ashalley is the inspirational voice at The Business Frontal. His uplifting quotes, dubbed "Ashalleyistics", have encouraged many entrepreneurs, start-ups and leaders to achieve their maximum potential. He is a seasoned counselor, a life and business coach and an author of many call to action business articles.