Vital Services: 5 Fundamental Functions of Any Good Business
Any business today, whether small, medium, or large, must stay abreast of the technological revolution.
Technological sophistication is not something restricted to tech companies, but affects all businesses. Even a flower shop needs to know how to benefit from the innovations in computers and telecommunications.
However, get a handle on technology can also be overwhelming because there is so much of it available, and it’s always in a state of continuous evolution. Still, any good business should have a good grasp of these five functions of technology.
Only 30 years ago, people were amazed that one could collect data, store it, and use it. Now, although the idea of a database is no longer revolutionary, database management has continued to evolve. A smart business owner can grab new opportunities to leverage the enhanced power of databases. A business owner will benefit by learning how to leverage cloud and mobile computing.
Platforms are a buzz word for the infrastructure that allows you to access and use data. It is an unbelievably efficient way to manage customers, cash flow, and vendors or suppliers.
Applications refer to business software that can be used to run a business. Often a variety of different software can be integrated to create smooth processes and transactions. Additionally, these applications can be run on a computer’s local hard drive, on a computer network in an office, or on a cloud.
Only 20 years ago, business owners were amazed that not only could they collect a huge database on their customers and their buying preferences, but that they could also analyze this vast amount of information.
Then the next big thing was predictive analytics, which was the ability to predict what people might like in the future on the basis of data on their past choices. Now, the latest trend is sentiment analytics, which is the ability to crunch data on how people feel about their purchases.
Business owners can run their business from anywhere. Using laptops, tablets, and smart phones, they can take care of business in an airplane or when driving home. This makes it much easier to handle a business even when called away from the office. Although these five functions refer to hardware and software, businesses are not entirely run on electronics.
Paper is still very much a necessary medium in business, and a commercial printer like the EBA printing company can provide for the creation of all sorts of necessary documents and carbon copies to effectively run a business.