In today’s dynamic business environment, technology plays a more significant role in an organization’s innovations, customer experience, and overall performance. Business development, in particular, should take advantage of the latest technological advancements and tools to conduct better brand equity research, optimize sales processes, and drive business growth.
Leaders in business development must identify and deploy solutions that enable organizations to scale on demand, improve resiliency, and minimize infrastructure investments. These emerging technologies can help companies implement powerful transformations to boost revenue and stay ahead of the competition.
Let’s take a look at five advanced tools and technologies that can contribute to your business growth, development, and success.
1. Data Analytics Tools
Every year, organizations generate massive amounts of raw data from diverse sources such as sales, marketing, customer service, and operations. This raw data offers a wealth of vital information that could improve a company’s overall performance.
Data analytics tools collect data from every touchpoint, process it into a useful resource, and provide valuable insights. They can assist you in better understanding your customers, personalizing content, improving advertising campaigns, lowering operating expenses, and more.
Data analytics is crucial for business growth since it provides all the necessary information to optimize your organization on all fronts. With the right data analytics processes and tools, you can make decisions quickly and efficiently and optimize your work processes.
Some of the best data analytics tools to enhance business growth are:
- Apache Spark
- Power BI
- Tableau Public
2. Remote Communication Tools
Modern technology makes a faster, wider, and more efficient means of communication possible. This includes interactions with your teammates, customers, potential clients, investors, and the general public.
When face-to-face interaction is not an option, quality remote communication tools facilitate seamless communication. You can also leverage these solutions to widen your client base while saving money in the long run.
Video conferencing platforms make meetings across geographical borders more convenient. Messaging and work management tools help distributed and remote teams communicate, collaborate, and organize their tasks and projects.
Some of the most popular communication and collaboration tools for remote teams are:
- Google Hangouts
- Microsoft Teams
3. Cloud-Based Solutions
The advent of cloud computing in the last decade has been one of the most important technological developments in the field of business. While objectives vary, businesses of all sizes, industries, and areas leverage cloud services to accelerate business growth and increase competitiveness.
Business agility is a primary motivation for embracing cloud technologies. The cloud enables the quick deployment of computing resources and the scalability of those resources to accommodate changing business needs. This reduces costs because organizations do not have to maintain and pay for resources that are not always required.
The cloud also boosts employee productivity and collaboration. Collaboration in the cloud and the capacity to interact across geographic or organizational boundaries are becoming increasingly crucial to company success. With cloud computing solutions enabling teams to work remotely, employees can take their work with them and work when they are most productive.
Some of the leading cloud computing platforms to scale your business are:
- AWS (Amazon Web Services) Cloud
- Google Cloud
- IBM Bluemix
- Microsoft Azure
- Oracle Cloud
4. Robotic Process Automation
Robotic process automation (RPA) is a technology application that automates business activities based on business logic and structured input. Using RPA tools, an organization can configure software or a “robot” to record and analyze applications for manipulating data, processing transactions, triggering responses, and interacting with other digital systems.
The business benefits of RPA are far and wide. Many CIOs are turning to RPA to optimize business operations and reduce operating costs. Businesses can automate tedious rules-based operational processes, ensuring better accuracy and reliability while allowing business users to devote more time to customer service and other high-value tasks.
Some of the top RPA tools in the market are:
- Automation Anywhere
- Blue Prism
- Eggplant by Keysight Technologies
5. Augmented Reality Tools
As augmented reality (AR) develops traction in the corporate sphere, it alters how companies interact with their customers. AR has introduced new realities to the customer experience and is a big differentiator in today’s market. Essentially, AR refers to the overlaying and sharing of physical environments, images, and objects on a user’s screen, where the virtual interacts with the real world.
The market evolves in unprecedented ways as these new digital experiences transform customer journeys into immersive and visually interactive experiences. Many augmented reality applications now serve as powerful new mechanisms for businesses to add value to their customers’ journeys, from pre-sales through sales to after-sales, creating authentic visual and tactile connections that strengthen the relationship between the business and its customers.
Some of the top AR tools that can help your business design the best solutions are:
Technological advancements have made things simpler and more convenient for businesses everywhere. Whether it is collaboration platforms enabling easier, faster, and more effective communication or RPA tools promoting digital transformation initiatives, advanced technology has become a vital component of business development and success.
Tech. Dev. Business.
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