Blockchain is just one of the rapidly emerging technologies that small business owners might soon use to improve their operations and customer experience.
By Henry Brown
It’s fair to say that tech is changing every aspect of our life, including business. From virtual reality to smart tech, it is amazing to see the directions in which this industry is evolving. As a small business owner, you need to keep track of the latest tech trends. You might just find some trends that can improve how you operate your business, perhaps even providing you with unique advantages on the market today.
Machine learning
What is machine learning? Well, the software works through programs with functions that humans create. Machine learning is the next level. Through machine learning, the programs create other programs to solve issues for humans with literally no human interaction at all. It’s still in infancy stages at the moment, but this idea is rapidly developing; eventually, we will see machine learning take the forefront position of various industries. A basic example of machine learning would be with your email box. Machine learning is the process that now determines whether mail is junk or not.
Why is this relevant to you as a small business owner? Machine learning could play a part in various processes within your company and could help improve the experience of your customers, boosting levels of efficiency.
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Automated software is another smart idea that is quickly becoming a key solution in the business world. Automated software will complete processes without human interactions. Again, this could be useful for the customer service sector of your business, allowing you to provide customers with the info they want without using your valuable time. Automation could be the solution you need to boost the growth of your company and improve levels of work performance on a daily basis.
Social payments
Did you know 75 percent of people will buy something after seeing it on social media? Of course, you can make things easier for them if you let them buy straight off the social network rather than hoping they find the product or service you are selling on your website. These days, you can do this with various social networks providing support for social payments. This is a way to streamline the marketing funnel allowing customers to go from A to D, skipping over B and C. Conversion rates can be increased with this tech option.
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Billionaire Warren Buffett recently stated cyber security is the number one issue for mankind, surpassing nuclear weapons. By 2019 a business will fall victim to a ransomware attack every fifteen seconds. What does this mean? You, as a small business owner, need to make sure that you are investing in top levels of security available through outsourced IT consulting companies. With security becoming such a prominent issue, you need to make sure that you have 24/7 support.
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Speaking of security, it certainly makes sense to keep your eye on blockchain tech, which allows digital information to be transmitted but not copied. Untraceable and secure from hacks, this tech could be the key for protecting and securing your small business in the future. Businesses can already start investing in and using this tech thanks to the tools created by the Linux Foundation.
As you can see, there are a number of trends in the tech world that could be relevant to you and will almost certainly play a part in shaping the future of your small business.
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Henry Brown is an online marketing executive. When he isn’t talking shop he’s roaming the streets of London, uncovering the extra-ordinary in the ordinary.
