Technological Trends in Business
The use of ‘big data’
Big data refers to large data sets that can be analysed to reveal patterns or trends. Businesses are now increasingly using big data to identify the current trends of their customers and any opportunities they may have in the market. Therefore, it is important that decision makers within businesses (e.g. the directors) use big data to make more informed decisions.
The use of technology will speed up the decision-making process
As a result of globalisation many company decision-makers are increasingly located or travelling overseas. With the use of electronic communication such as Skype, FaceTime etc. decision makers of a company can meet together without necessarily being in the same room. It is important that the decision makers of a company use these means of communication in order to facilitate quick or urgent meetings.
Company decision markets will need to be tech-savvy
Companies are increasingly looking for decision makers that have a sufficient grasp on technology in order to ask the right questions in relation to technology. This will ensure that the business is able to develop and maintain its competitive advantage.
Tablet devices will become essential
Currently many decision makers use tablets for communication or even board packs because they provide convenience or enjoyment. However, in the future they will be essential as they will likely hold all the relevant data necessary to make decisions.
If you require any further information in relation to the above, contact us at The Quinn Group on (02) 9223 9166 or submit an online enquiry form.