Technology keeps advancing every single day. It’s helping individuals and businesses in ways we couldn’t have imagined just a few years ago. In this day and age, the success of a business essentially depends on how much its owners are in the loop of current technology and how well they manage to leverage technology to improve their business and drive growth.

Here are some of the biggest tech trends that have been driving business growth all around the globe. You don’t want to miss out on them!    

  • Tools for big data collection and analytics

We all know that the internet is absolutely flooded with data. That’s why we call the data on the internet “big data”. But without proper tools to extract and analyze this data, it’s very difficult to make any use of it. 

However, by using advanced solutions for big data collection and analytics, businesses can access whatever they need quickly and easily. Examples of such tools include web crawlers, web scrapers, analytics software, and many others.

  • Cloud computing for data management

Cloud computing has made it possible to securely store all business data in a virtual location accessible to all members of an organization. This is a huge win when it comes to business productivity. Instead of sending specific sets of data back and forth (which takes up loads of time), anybody who is authorized can access data whenever they need to, from whatever location.

  • Social media for marketing

Social media platforms are among the most effective ones for marketing, and there’s good reason for this. Everyone is on social media, and by knowing your target demographic, you can target your audience in the most appropriate way. 

The beauty of social media is that it’s completely free to set up a profile for your brand and start posting. Sure, social media ads do cost money. But if you’re going to spend money on advertising anywhere, social media is probably the best option for this.

Social media platforms are also excellent for building relationships with your audience because it’s very easy to interact with them when they comment on a post or reply to a story. Other platforms (like websites) make it a bit more difficult to interact with customers and build relationships.

  • AI chatbots for customer service

Every business gets various inquiries from customers. Oftentimes, these inquiries can easily be solved by checking out the FAQ page or performing a simple Google search. The time spent answering such inquiries can be spent doing much more valuable things. By implementing an AI chatbot and connecting it with all general information about your product or service, the chatbot will be able to answer many inquiries without any need for human assistance. 

This will help save lots of valuable time. You or your employees will only need to step in when the issue is a bit more serious and can’t be answered by the chatbot.

  • Online payments for easier transactions

Online payments can help in all areas of business. Whether it’s for receiving payments from customers, sending out paychecks to employees, or purchasing items from suppliers, online payment platforms make the whole process so much quicker and easier.

  • Online learning platforms for education

Platforms like Coursera contain thousands of different online training courses made by professionals. By purchasing a subscription to one such platform for yourself and all of your employees, you can greatly increase the skillset within your business. Not to mention, your employees will be happy with this opportunity and value their workplace even more.

  • Apps for enhanced communication and productivity

There has been such a huge increase in apps for communication and productivity recently. This is probably because so many businesses began operating entirely online. 

The larger your business becomes, the more difficult it is to keep track of your employees and properly communicate with them. Even if your business is still small, it’s best to implement communication and productivity apps early on. From Slack to Zoom to Trello, there’s plenty to choose from.

Conclusion

As a business owner, you may be feeling a bit overwhelmed by the huge selection of technology that promises to grow your business. That’s why many businesses still fail to implement these tools to this day. Sure, it can be a bit overwhelming, especially if you’re still used to communicating through email and aren’t familiar with AI technology yet. Well, the sooner you get out of your comfort zone and start implementing these technologies, the sooner you’ll get ahead of competitors!