Here are eight different ways technology is changing the business landscape and how businesses have to adapt or be left behind. Additionally, this new generation of BI tools are typically fairly simple to use so now a broader range of users within the business are able to get involved in analyzing and using data to make decisions. Businesses can gain insight into their customers and market trends, allowing them to make decisions about current and future operations, products, goods or services. How it evolves and what changes we’ll see in the next five, ten, and twenty years may be surprising, but there’s no denying that they will occur. In summary, consider the following ways that technology has changed business[1]. Having a strong antivirus, locking servers down from hackers, and using an advanced intrusion prevention, and detection system No system is 100% hacker-proof, of course, but the stronger your security is, the less likely malicious people are going to target it. Not since the industrial revolution has business experienced such rapid and profound changes as it has seen since 1990 and the launch of the World Wide Web. BI can facilitate collaboration both inside and outside the business by enabling data sharing and electronic data interchange. In this module we will examine how these technological advances have impacted business. If not, the organisation needs to determine what changes it needs to make and whether it is capable of effecting such changes. Businesses know consumers are spending hours every day on the internet and using apps, and this knowledge is driving the development of more apps and other gadgets that will let customers interact with and purchase products from businesses. There’s very little to actually install on the user’s computer. Now, thanks to the prevalent use of smart phones and tablets, businesses can offer transactions through a wide variety of apps. While he is watching one of the videos a small box pops up and offers “live chat” with a customer service representative of Brand X. Second Assignment. He reads customer reviews and narrows his selection to 2 different models. Jim gets home with his new dishwasher and gets it installed thanks to the video provided by the manufacturer. Customers can access products and services at any time, allowing businesses to continue to make profits even when their physical store is closed. One example of how business intelligence systems have been maximized is at women’s underwear manufacturer Maidenform. While leveraging existing technologies to their benefit, businesses must keep a watchful eye on emerging technologies such as Block Chain, virtual reality and machine learning in order to adopt the technologies that maximize efficiency and ultimately maximize revenue. Business Planning. Some of actions of technology in business include accounting systems, management information systems, point of sales systems, an… A competitive advantage is a way in which you can create value for your customers that your competitors cannot. He then goes to the website of the 3 local retailers that carry the dishwasher he wants and compares prices. Business intelligence tools empower organizations to gain insight into new markets, to assess demand and suitability of products and services for different market segments and to gauge the impact of marketing efforts. One thing you have probably noticed at the store, a restaurant, the park, and even the movie theater is that people are on their phones all the time. 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