How is Business Technology Evolving?

How is Business Technology Evolving?

Every modern organization that seeks to remain competitive and secure its long-term viability will need to look for unique ways to improve its operations. There must be a clear understanding that ongoing efficiency improvements have a key role to play in every company.

Each year, more competitors enter the marketplace who will be seeking to gain a share of the market from other companies in the same sector of operations. A business needs to keep improving the offering it gives to its customer base and needs to continuously look for ways to improve its business processes.

A key way to drive improvement is by harnessing the latest business technology. In recent years, the pace of technological change has been rapid and there are now many diffident tech solutions for businesses that can give them a distinct competitive edge.

In this article, there’s a discussion on how business technology has been evolving. Three key examples will be highlighted, and each of these forms of technology can be utilized by businesses in a wide range of sectors to improve various facets of their organization.

1. Chatbots in customer service

In any business that sells goods or services, it’s likely that interactions will take place between the customer and the business. Many customers will have questions or queries when looking to purchase an item or will want to give constructive feedback on their experiences with the company.

However, the cost of running a large customer service team to communicate with customers can be expensive. While there will always be a need for human workers to resolve complaints or deal with complicated queries, the customer service team can be streamlined by using chatbots for some functions. Chatbots are a form of AI that can automate some common customer service issues, such as providing answers to commonly asked questions by directing the customer to a webpage that contains the information they require.

Simply put, chatbots can deal with more simple forms of customer relations and can help a company to save money. Many modern chatbots use machine learning techniques to continuously improve the service that they provide to customers. You can read more about the various types of chatbots and how they may benefit your organization by clicking here.

2. Improved management of microservices

Millions of businesses now operate their IT infrastructure from the cloud. This can allow companies to support remote and hybrid models of work for their staff as key applications can be accessed from any location with an internet connection.

However, as the number of applications and microservices in the cloud grows, there’s a greater need to ensure that they communicate with each other effectively. Many microservices and smaller applications need to interact with other programs to ensure the smooth functioning of the overall IT systems.

Thankfully, the use of service mesh in the form of service mesh kubernetes can assist with this vital process. Service mesh is a layer of software that handles the communication between microservices and other applications. It’s vital in any online business as it helps to ensure that all the microservices that form larger applications can work together, even if they’ve been written with different forms of code language. As online applications evolve, there will be an growing need for layers of service mesh to be added to IT infrastructure to ensure that increasingly complicated systems work efficiently together.

3. Algorithms to analyze customer behavior

Briefly, many consumers will be aware of some forms of algorithms in business. For example, movie and TV streaming services use algorithms to monitor the viewing habits of their customers so they can offer tailored viewing recommendations in future. These forms of algorithms play an important role in understanding consumer behavior and allowing companies to offer bespoke products and promotions to their customers.

As the power and complexity of algorithms grow, it’s likely that more businesses will utilize them to gain deeper consumer insights and ultimately to improve their sales channels and profitability.

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