Through tracking of the increase in the usage of technology and growth of the rate of technological advance that is led by the advances in computer chip technology, this has been pronounced ‘Moore’s Law’. ( Jonathan, n.d. ) Living in the ‘digital age’, we have no choice but to realise that the revolutionary technological advances are right on our doorstep. Everything is moving much faster than we thought, and so are the way we think and act.
Google, the most used search engine, now processed over 40,000 search queries every second on average has claimed that choice ‘is only one click away. ( InternetLiveStats, n.d. )Just like the others, me myself would have probably contributed at least 30 search queries every day. This has proved how frequent people get use of the Internet in their daily life to get information. Having said that, eventually now consumers have more control as information is easily accessed compared to the older days.
Gradually, the effectiveness of the digital environment today has enhances the way in which business is conducted. Nowadays, it is very difficult for business to gain competitive advantage without the use of technology. More firms are turning to e marketing in order to secure and grow their business. One biggest impact that IT has made to the business would be the individualisation.
With the use of technology, we can individually target consumers by identify, associate, connect and interact with them to provide the service each individual anticipates. As economies develop and global markets increasingly integrated, individualism is most predominant in well-developed economies. ( James, Toms, 2013 ) Younger generations like us that are growing up under secured conditions tend to embrace individualism more. Henceforth, I believe one to one marketing has and will somehow play a very important role in managing the relationship with customer by emphasising personalised interactions with them. The power shift from companies to individual has also led to co-creation where consumers are allowed to create the product as well as customise their own product.
Another proves that shows the emergence of IT in today’s world would be the digital convergence. From smart refrigerator, wearable tech such as Nike fuel band to computers that can receive digital radio and TV sets that can receive the web, it is hard to imagine how creative the future technology devices would be for the use of e marketing. Moreover, networking has helped to break the geographical barrier as people around the world can communicate on topics of mutual interest, as well as giving opinions and comments on a product or service. ( newsmakergroup, n.d. ) In this way, the business can keep track of the reviews of a certain of products or services in order to develop new opportunities and build better quality customer relationship.
In conclusion, technology can be used for record keeping, communication, manufacturing, packaging and many more ways in business. There is no doubt that the use of technology in business is essentially important in this tech demanding century in order for a business to survive. However, business owners need to know the right way to use the technology to serve their customers on time and to satisfy their wants and needs. Having the best tech will not guarantee business success; it is the matter on how to use that technology.
” Technology is nothing. What’s important is that you have faith in people, that they’re basically good and smart, and if you give them tools, they will do wonderful things with them”
– STEVE JOBS –
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Introduction to How Moore’s Law Works – How Moore’s Law Works | HowStuffWorks. (n.d.). Retrieved from http://computer.howstuffworks.com/moores-law.htm
James, Toms. (2013, March 11). Generation self: what do young people really care about? | Society | The Guardian. Retrieved from https://www.theguardian.com/society/2013/mar/11/generation-self-what-young-care-about
Social media has no geographical barriers | Newsmaker Group. (n.d.). Retrieved from http://www.newsmakergroup.com/social-media-has-no-geographical-barriers/
Smartphones help U.S. workers stay productive during vacation – NY Daily News. (2013, June 26). Retrieved from http://www.nydailynews.com/news/national/smartphones-u-s-workers-stay-productive-vacation-article-1.1383259