Keeping track of the latest technology trends has become one of the biggest challenges for every kind of business. After overcoming that challenge, finding the suitable technology according to the needs of your business is also very challenging. Many times small business owners think that their small business do not need the h of any kind of technology, and investing in new technology might cost them a lot. Initially it might cost them but later on, it will increase their profit levels and productivity of the business.
So here is a list of trends that you need to keep track of to find the best-suited technology for your business.
Artificial Intelligence
Advanced artificial intelligence includes machines and robots working like humans. Machine learning and deep learning are the topics that come under the heading artificial intelligence. For small business artificial intelligence help to gain useful customer’s insights.
Owners are using chatbots to engage customers and provide them better customer services like Ikea is used on shopping websites. AI uses information that is fed to the system to replicate and automate decisions. AI is hardware based, computers that act like human and perform tasks without any fatigue and thus provide better results.
Cloud Storage
Along with artificial intelligence cloud storage will also be incorporated. Cloud storage removes the possibility of losing data due to system crashing or papers getting lost. Using cloud storage you can store a large amount of data online and you can access it from anywhere using internet connection.
IOT
Internet of Things will gain popularity in certain markets as they are becoming cheaper and have a huge economic impact on small businesses. They have various benefits like they help in real time tracking, improve resource consumption, process optimization, better decision making and thus increase sales.
Order Management Software
People are moving from excel sheets, MS Word, pen and paper to automated management software to store all the information regarding orders. While manually storing documents workers tend to commit a lot of errors. Instead, if software with barcoding facility is used it removes the source of human error. Also, time wasted to manually store information is saved. Order management software help to reduce errors, real-time order management, increase efficiency and provide better results.
Blockchain
A blockchain is a popular technology used in various cryptocurrencies like bitcoin. In this, every block is linked using cryptography. Every block stores the cryptographic hash, timestamp and data of the previous block. All the users have the same information as blocks of data is distributed among the network of computers.
Blockchains have gained popularity because they have improved security and transparency, speed up processes, better functionality, lower costs, decrease errors. Small businesses will definitely go for this technology in 2018 as this will help to record various contracts, supply chains, and various other information, automate payments, etc.
Mobile Technology
Mobile technology helps owners and workers to work from anywhere using their mobile. Every information regarding their business is on their phone. Like live online chats between buyers and owners improves communication between them.
The cashless economy is very popular in countries like US, UK, Canada. Mobile apps like Samsung Pay, Apple Pay, and other payment platforms make cashless payment easier.
E-commerce
E-commerce is a trend popular since 2017. More and more people are investing money in setting up online stores rather than offline stores. People are opting for online shopping as they get better discounts, exciting offers, vast product range, shopping from home- product will be delivered at their doorstep, compare prices and products on various online stores and buy according to their convenience. For traders creating online stores improves the reachability of business, helps to gain popularity and thus increases sales.
Setting up an online store is not a problem these days, but maintaining good online store is the hardship. Excellent customer service is the most important factor for a Good online store. Pre and post sales customer service, delivery time, discount offers is what makes a difference.
Social Media
Social Media has been in trend for a long time and it will continue to gain more popularity in the year 2018. Instagram marketing is one of the most popular forms. Be it big or small business, no one has left Youtube, Facebook, Instagram behind for selling and advertising their products.
Conclusion
New technologies will be coming up every second day. You don’t need to try every new technology but you have to keep yourself with the latest technology trends. Because only that way you will be able to find the technology according to the needs of your business.
If you have any new trend that is going to come up in 2018 do let us know in the comment section below.
We hope this article helped you gain valuable information.
