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As a business owner, you must monitor industry trends and best practices to make you operations and processes efficient. At the same time, you also need to facilitate innovation-driven growth to keep your business profitable over a longer period of time. You can easily facilitate innovation-driven growth by adopting the latest technologies. But the disruptive technologies always make the established technologies obsolete and compel enterprises to revamp their business processes completely.
Aware of as Business Owners
practices to make you operations and processes efficient. At the
same time, you also need to facilitate innovation-driven growth
to keep your business profitable over a longer period of time.
You can easily facilitate innovation-driven growth by adopting
the latest technologies. But the disruptive technologies always
make the established technologies obsolete and compel
enterprises to revamp their business processes completely.
You will find it difficult to identify the disruptive technologies
and assess their impact on your business. But you can always
identify the disruptive technologies quickly by monitoring
emerging technological trends.
Industrial Internet of Things (IIoT)
Internet of Things (IoT) makes a wide variety of devices or machines communicate
consistently with each other through embedded sensors over the internet or the
cloud. Industrial Internet of Things (IIoT) augments the smart machine to machine
communication facilitated by IoT technologies. It combines IoT technologies with
machine-to-machine communication, big data technologies, sensor data processing,
and automation technologies to make various processes and operations efficient.
Your business can take advantage of IIoT to gather real-time data from various
sources, and use the real-time data to make your processes smarter.
According to a number of studies, smartphone ownership and mobile internet
usage will grow rapidly in 2018. Hence, more and more people will use mobile apps
to accomplish common tasks and facilitate routine activities. Likewise, more users
will access websites and web applications on their mobile devices than computers.
The mobile apps will help new entrepreneurs to perform common business
activities like expense monitoring and accounting without deploying additional
manpower. The business owners should have a dedicated mobile strategy and plan
the mobile app development accordingly. Likewise, the business owners have to
focus extensively on the mobile experience delivered by their websites to keep the
visitors engaged and accomplish higher conversion rate. You can make your business
operations more efficient by integrating mobile devices and productive apps into
your existing system.
Artificial intelligence (AI) enables enterprises to make their business processes more
efficient by automating low-level tasks. An entrepreneur can further take advantage
of AI to make the employees more productive, and carry on business operations with
less manpower. He can further use AI for a wide variety of processes. For instance, an
enterprise can use AI to automate routine tasks like report generation and inventory
monitoring. At the same time, another enterprise can leverage AI to identify new
target markets and explore new sales opportunities. Hence, you can use AI to make
varying business processes efficient without deploying additional resources.
Many analysts believe that virtual reality (VR) and augmented reality (AR) technologies
will compel entrepreneurs to revamp their existing processes and operations. VR will
help businesses to create products that deliver immersive user experience through
real-life simulation. While using a VR-based product, users will feel like interacting with
the digital environment. On the other hand, AR enhances the existing real-life setting
of users by adding digital enhancements to the product. The businesses have to
combine AR and VR to keep users engaged and facilitate innovation-driven growth. You
have to use devices and applications developed with VR and AR technologies to make
your processes efficient and enhance customer experience in the longer run.