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How has Technology Shaped the World of Business?

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The pace of technological advancement is moving at a fantastic pace in all parts of life. Consumers now have access to a wide range of devices that provide entertainment (such as gaming consoles and on-demand streaming services) and can make home life more efficient and less labour intensive.

In recent years, a range of smart devices have been released that can help with household chores (such as robotic vacuum cleaners) or remotely control heating and home security.

However, technology is also improving at a rapid rate across all forms of business. From the use of business intelligence platforms to allow data-driven decision-making to cloud-based applications that support an agile workforce, technology is helping the business world to advance.

In this article, three specific types of technology will be discussed. Each of them has helped to improve different forms of business, from manufacturing to corporate life.

Specialized tools to improve efficiency

Across the manufacturing and production sectors, increasingly specialized technology is being used to allow more efficient working practices to take place. Instead of relying on a purely human workforce to undertake complex or intricate jobs, the use of specialized equipment is allowing for more consistency in the final products.

One example of this is the use of heat guns in the building and manufacturing sectors. Devices such as the heat guns by leister provide a highly accurate and controllable heat temperature that can be used to bond thermoplastics together. Whilst this technology is relatively simple, it is vital for a range of applications.

It can be used to create banners for businesses to allow effective promotional activities to take place, and weld together surfaces to create components that are highly accurate and standardized. Even in the construction industry, heat guns can be used to efficiently thaw pipes and create household structures. The accuracy of its operation ensures that high-quality results can be achieved in a far quicker time than without the use of such tools.

Viable remote working methods

Before the COVID-19 pandemic, most employees had little experience of remote or hybrid models of work. With the virus came the need for businesses to rapidly adapt working practices to ensure continuity of service when faced with movement restrictions on the population.

Thankfully, technology played a key role in facilitating this transformation. The use of cloud-based applications allowed staff to access vital programs simply by having a home internet connection and without the need to be in a physical shared office space. In addition, software such as video conferencing platforms and online project management applications allows a remote workforce to collaborate effectively without the risk of duplicating work.

Ecommerce

As a brief final example, ecommerce has flourished in the last decade, largely due to the technology that supports it. Globally, the ecommerce industry was estimated to be worth $25.6 trillion in 2020 and is expected to continue to grow at a rapid rate.

Today, an entrepreneur can make a viable business on a minimal budget simply by creating a website, adding secure payment functionality and adopting a drop-ship model of commerce. Customers are increasingly likely to make purchases online due to its convenience and will buy from international sellers if quality and delivery timescales can meet expectations.

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