Top 10 Importance of Information Technology in Business Growth

Top 10 Importance of Information Technology in Business Growth

Top 10 Importance of Information Technology in Business Growth

In 1991, there was an invention that changed the structure of the whole world till today. Although people never took it then as being a big one, even newspapers never publicized it and it was not known until towards the end of the decade. The World Wide Web was laughed at in 1991 but became popular towards the end of that decade. With the invention of the World Wide Web, there was a turnaround in the administrations around the world. The advent of computers and the World Wide Web birthed what we now refer to as information technology (IT), while information technology has since then, birthed many innovations. For a business to succeed in this century, there is a need to implement information technology in so many ways. If the goal of owning a business is still to make profits, then the role of technology cannot be neglected.

Several times when we talk of technology, people think only of computers, laptops, desktops and the likes. As much as these are part of the tools of information technology, there are many other tools which people barely take advantage of. These neglected IT tools range from your smartphones to your calculators etc. When you thoroughly explore information technology, you will be surprised at how productive and even interesting it could all be. The reason you are not making enough sales in your business might be because you have refused to involve the right technology. Technology has lots of benefits for businesses, and in this post, I will help to highlight a few of them, and how they can aid your business growth.

 

  1. Communication: One of the goals of information technology is to make communication very effective. Communication is the building block of any relationship, likewise in business. For a successful business enterprise, you have to know the power of communication and see to it that you don’t let the fire die. IT helps you achieve this. With several technological measures put in place to foster customers’ communication and even employee and employer communication, it makes productivity easier. With the help of information technology, entrepreneurs are able to communicate with their customers, either through emails or on their website or by even sending text messages. With the use of technological apparatus like smartphone and chatapps, employees and employers get to communicate effectively when the need arises without considering distance as a barrier
  2. Efficiency: there is more efficiency at work. With the invention of technology, companies can now work more efficiently, dedicating a part of the workload to machines. Artificial Intelligence also helps entrepreneurs to work better in identifying customers’ needs and wants and work towards their satisfaction. Utilization of technology saves time and also saves human energy that would have been involved in using human labor. This leads to efficiency and a higher percentage in productivity.
  3. Improved knowledge: truly they say no one is an island of knowledge, but with technology, everyone is an island of knowledge. With the World Wide Web available for you ask questions. Technology provides this avenue. You gain multiple insights by reading about other people’s works. Entrepreneurs can learn success stories from other entrepreneurs who would be willing to share their insights and tell the stories of how they overcame to others who are upcoming. As an entrepreneur, technology helps have access to this. It gives you multiple accesses to multiple wisdoms.

Top 10 Importance of Information Technology in Business Growth

4. Explore: with the invention of information technology, businesses can explore new channels for growth. Technology can help by conducting calculations of forecast with authentic results. “Authentic results provide a better picture of management, enabling them to decide whether to go ahead with the plan or not. Moreover, technology is advancing with new gadgets being introduced in the market every other day. Companies can take advantage of this progression by implementing relevant technological gadgets. These gadgets can assist them in their operations, leading to better productivity and growth.”

 

Read Also: Top 10 Conferences You Should Attend as a Tech Specialist

5. Crypto currency: technology birthed crypto currency. Crypto currency is one of the best investment any entrepreneur can make, in that it is digital, profitable and of more value than paper money. Bitcoin is the most popular form of crypto currency, like the US dollars, it is widely accepted. With the technology of block chain, crypto currency came into existence and it is widely acceptable all over the world. Blockchain gives businesses all over the world to invest in crypto currency by making sure their records are safe and full-fledged. “In simple terms, Blockchain is a digital ledger that maintains all the transaction records so that you know when and where your money is being transferred online”.

6. Solving problems: technology makes problem solving tools available to business; improved hardware (more memory, faster processors, sharper visual displays, etc.) combined with smarter applications (Mind mapping software like X Mind, organizers like Google calendar, etc.) have made it easier to research data, analyze it, and plan scalability. Many tools are made available to solve complex problems.

Top 10 Importance of Information Technology in Business Growth

7. Helps businesses to make better decisions: Good decisions in business are built on solid market research. This can be done by engaging teams through video conferences, reviewing public sentiment on social media and industry forums, and using online surveys to cumulate customers’ feedback. There are also tools like Microsoft CRM Dynamics and Google Analytics.

8. Improves marketing: Internet marketing using online advertising methods (SEO, PPC, Facebook Ads) are far more accurate than traditional marketing of finding target audiences, discovering their needs, and building a marketing campaign to convince them to buy(in most cases). It’s difficult to see how many people read a newspaper ad. It’s easy to figure out how many people clicked on an online banner.

9. Improves customers’ support: Customers can receive support from multiple channels telephone, emails, social media platforms, webinars, and so on. Futhermore, customer relationship management systems help businesses to understand their customers’ behavior.

10. Improves resource management: Cloud computing allows a company’s employees to use any device anywhere in the world to access their enterprise level software.

Information Technology has done businesses many good. Various measures have been put in place to make businesses succeed, it is now left for businesses to utilize these opportunities.

As more businesses rely on the internet for their day-to-day operations, the need for secure networks becomes increasingly important. Cisco 300-420 ENSLD is a highly sought-after certification for network design professionals. This certification teaches candidates how to design and implement secure networks that can protect against a wide range of threats, including cyber attacks, data breaches, and other security vulnerabilities.

 

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