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With the involvement of technology in businesses, innovation created will provide a long-term impact in sustaining the  overall business life cycle.

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Introduction

A business that sells computer peripherals such as mouse, keyboards and speakers.

Operated by 1 entrepreneur, 1 client engagement specialist, 2 software engineers, 1 designer and 2 data analysts.

Body

Subscriptions to online resources.

Flexible Working Hours

Experimenting Innovations

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How Technology Helps in Product Development

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How Technology Helps in Product Development

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1.     Omni-channel Support/   Presence

Technologies such as video chat, co-browsing, screen sharing, and interaction documenting will ensure an interconnected journey with customers all the way through to purchase.

2.     Extensive Personalization

The existence of artificial intelligence (AI) and machine learning contributes in learning consumers’ purchasing behavior.

3.     The Shift to Mobile Application

The presence of mobile platform enables to business to carry out location-based marketing which is to market products to customers within the relevant locations.

Source:
https://acquire.io/blog/technology-drive-commerce-success

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Technological advancements have had a huge impact on the ecommerce world, transforming the way consumers connect with brands and empowering them to shop more cost effectively. Driven by the convenience of getting products delivered to your doorstep, ecommerce has now become an integral part of everyday life.

Strategic plans, competitive marketing, and a skilled workforce aside, ecommerce organizations are expected to remain up to date with the latest technologies. These technological advancements have enabled people to meet their purchasing needs with ease, and as a result, the ecommerce sector continues to go from strength to strength.

Ecommerce is faster than ever and customers can get anything at the click of a button, all thanks to the latest available technology. Now customers can track their orders, find the best deals and much more besides. With all this progress, new business opportunities are inevitably emerging.

In this article we will discuss some of these advancements and their implications for driving forward ecommerce success.

1. Omni-channel presence/support

Modern shopping habits involve a process of cross-channel research, consideration, and purchase. Indeed the statistics show that 90% of customers expect smooth interactions across multiple channels and devices, highlighting the importance of omnichannel readiness for today's businesses.

Making use of the right technology means providing customers with not only what they want when they want it, but where they want it too.

Video Chat: Allows your business to interact face-to-face with customers creating a personalized, cross-channel, visually demonstrative and consultative experience.

Cobrowsing: A visual engagement system bringing your agents and customers together on the same page, at the same time, allowing agents to seamlessly guide your customers through complex procedures.

Screen Sharing: A method of interacting where your customers share their screen with your agents to effortlessly resolve difficulties filling forms, completing transactions, etc.

Document Interaction: Provides a platform for your agents to interact with your customers' documents safely and includes e-signature technologies for enhanced security.

These methods all help to ensure an interconnected customer journey all the way through to purchase.

2. Extensive personalization

"The customer journey is changing. Consumers want everything, and they want it immediately. Experience matters than anything else - and the technology at our fingertips enable such amazing experiences, only desired in today's fast-paced world." - Sam Hurley

Personalization is the biggest trend in ecommerce right now. Consumers have come to expect a relevant shopping experience based on their personal preferences.

The statistics show more than 78% of customers ignore offers that aren't personalized or based on their previous engagement with the brand. This shows just how important personalization in marketing and customer support has become.

Effective personalization comes from understanding customers' preferences and behavior. Fortunately, technology has now evolved to provide precisely that level of insight. The potential impact of ecommerce technology on your company is huge. Nearly every user action online is captured and stored, creating a vast pool of information known as big data.

Artificial Intelligence (AI) and machine learning analytics drive customer behavior patterns, whilst simultaneously interpreting this data, meaning businesses are provided with a cycle of desires and expectations, creating endless possibilities.

Big data, machine learning, and AI have made personalization the norm, with businesses catering their support and services to reflect this.

3. The shift to mobile

Mobile platforms have increased in importance, so much so that m-commerce has emerged as a concept in its own right.

Failing to provide a mobile-oriented shopping experience will lose your brand potential customers. Equipping yourself with mobile-friendly technology is therefore crucial in maximizing your chances of future success.

Ecommerce mobile apps - Apps offer customers continuous engagement with your brand and the chance for your customers to familiarize themselves with new and relevant purchasing opportunities.

Location-based marketing - Use your customers' geographical whereabouts to market products relevant to their specific location.

VR/AR guidance - Integrating VR and AR technologies provides an immersive mobile shopping experience for your customers, connecting them with your brand in a deeper and more meaningful way.

Internet of Things (IoT) - The IoT stems from the desire to better understand consumer trends across a range of connected devices. The scope it provides for delivering personalized mobile shopping experiences to your customers is almost limitless.

4. Conversational Marketing

Traditional marketing channels flow in only one direction. The new concept of conversational marketing has opened up two-way communication, creating numerous opportunities for ecommerce success.

Getting information directly from customers makes more sense than attempting to predict it. You can establish a personalized, real-time, one-on-one conversation on the back of this, safe in the knowledge you truly understand your customers' needs.

Below are some of the most efficient technologies for nurturing customer conversations:

Chatbots - Chatbots are excellent conversational marketing tools, capable of handling multiple conversations at any one time. They provide your customers with answers, drawing on knowledge pooled from multiple channels, whilst maintaining a consistent tone for your brand.

Live chat - Live chat allows your support teams to communicate with customers through live messaging. You can initiate a preemptive chat invitation to particular customers based on their behavior.

Mobile messaging - Smartphones are another way for your business to reach out to customers. With potential fatigue from the onslaught of promotional emails, talk with them through mobile messaging apps instead.

5. AI and chatbots for customer communications

Artificial Intelligence plays an important role in everyday life, having a major impact on how we live and work. There are several examples of AI and automation tools with customer service applications for your business, including voice-powered assistants such as Apple's Siri, Google's home and Amazon Echo. Research shows that 45% of millennials are already using this type of voice activated search for online shopping.

Chatbots and virtual assistants represent the future for businesses. Some are already integrating chatbots in their systems to improve their customers' experience and boost brand image.

With the help of Chatbots you can order food, check in luggage at the airport, book a hotel room, schedule your flight, and get recommendations for almost anything you can think of. The Starbucks chatbot for example gives customers details regarding their order status, payment details etc.

6. Image search

Ecommerce businesses are integrating image search technology on their websites so customers can easily photograph products they are interested in and find similar examples on other sites that may be offering better deals.

Imagine someone sees a beautiful couch, but it costs too much for them. If your business offers similar products at a more reasonable price, integrating image search into your website will allow you to potentially pick up on this sale, creating an extra revenue stream.

7. Quick and easy checkout processes

Cart abandonment is the most frustrating reason for losing a sale because it means a user was considering buying your product, only to change their mind at the last minute. The latest data shows a 79.17% global rate of cart abandonment, highlighting how big a problem it is.

One of the main reasons customers abandon their carts is the checkout procedure itself. No matter how well the lead has been nurtured, inefficient checkout processes raise the chances your users will abandon their cart.

Therefore, if you want your ecommerce company to be successful, embrace technology that provides quick and efficient checkout solutions, such as:

Speedy mobile payment solutions, including Apple Pay and Android Pay.

Enabling your customers to save card details, streamlining repeat purchases.

Providing one-page, hassle-free checkouts.

Offering a range of payment options.

Equipped with this technology, your business can alleviate any potential difficulties customers may encounter at checkout.

The last word

Many successful ecommerce ventures have got to where they are on the back of the cutting edge technology they employ. Take the opportunity these technologies provide to better understand what your customers want and deliver it to them more efficiently and your company could stand to reap the benefits too.

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7 Technological Advancess Empowering Ecommerce Businesses in 2019 [Updated]

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Technological advancements have had a huge impact on the ecommerce world, transforming the way consumers connect with brands and empowering them to shop more cost effectively. Driven by the convenience of getting products delivered to your doorstep, ecommerce has now become an integral part of everyday life.

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1.     Information Access

Online resources such as Medium provides latest information about technologies so that readers can gain ideas towards innovations.

2.     Job Engagement

Workers who are committed to a company are logically more likely to pursue ideas for improving it. One way to enhance this employee engagement may be by providing the type of flexible work arrangements facilitated by digital technology–such as telecommuting.

3.     Professional Information Support

Technology today provides the convenience for experimenting innovations on business products such as Google Analytics and Google Tag Manager that keep tracks and provide analytic of customers’ behavior on business products.

Source:
https://www.fastcompany.com/3022498/4-reasons-digital-technology-boosts-innovation

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Earlier this year, Yahoo put an end to employee telecommuting in the name of innovation. Company CEO Marissa Mayer was attacked as someone who opposed work-from-home options, but the decision was her effort to emphasize face-to-face interactions over digital ones. The company's internal memo stressed the "insights" that come from "physically being together."

Happy New Year! We're saying good-bye to 2013 by revisiting some of our favorite stories of the year. Enjoy.

Whether digital technology will influence workplace insights for better or worse is a topic of ongoing debate. In a recent issue of Computers in Human Behavior, business scholars Greg R. Oldham of Tulane and Nancy Da Silva of San Jose State consider the evidence on both sides. Their work highlights four reasons technology will boost innovation, and four reasons it won't.

HOW DIGITAL TECHNOLOGY HELPS INNOVATION.

Information access. It's easy to see how access to new and diverse information might spark an idea, and it's equally easy to see how digital technology provides that access. One hardly needs empirical evidence to make this point, but the words of creativity researcher Todd Dewett bear paraphrasing: information may be the most important ingredient for creativity, and it's the very thing that information technology exists to provide.

Information may be the most important ingredient for creativity, and it's the very thing that information technology exists to provide.

Job engagement. Workers who are committed to a company are logically more likely to pursue ideas for improving it. One way to enhance this employee engagement may be by providing the type of flexible work arrangements facilitated by digital technology-such as telecommuting. Indeed, research released earlier this year suggests that some people who work from home can be measurably more productive than those who go into the office.

Professional support. Employees who receive support surrounding their work are more likely to nurture new insights into full-fledged innovations. One recent study found a significant link between an employee's creativity and the amount of emotional and informational support provided by primary coworkers. Since digital technology can improve social connections among colleagues, it may help create an environment of encouragement.

Personal connections. A great idea still needs sponsorship from above to see the light of day. One recent analysis of 216 employees in one company found that the long odds of implementing a creative ideas got better when they'd developed strong "buy-in" relationships with supervisors. Just as digital technology can strengthen connections across the employee chain, it can stretch them up and down it, too.

HOW DIGITAL TECHNOLOGY THWARTS INNOVATION.

Information overload. The flipside to information access is information overload. Behavioral scientists remain split on whether or not a person can multitask efficiently in the face of digital technology-some evidence says our computers spoil our attention; other research suggests we can adapt in time. The question of whether Steve Jobs would have become Steve Jobs using a computer designed by Steve Jobs is an open one.

Behavioral scientists remain split on whether or not a person can multitask efficiently in the face of digital technology

Job over-engagement. The great thing about digital technology is that we can work from anywhere. The terrible thing about digital technology is that we work from everywhere. A study published last year found work-family conflicts were often linked to personal exhaustion and that this effect was worse for people who performed "extensive telework." Needless to say, stress and exhaustion sap our energy, and with it, our capacity to innovate.

Professional criticism. A wider social network can help employees recruit support for an idea, but it can also attract opposition. In that sense, digital technology has the potential to stifle innovation. Researchers have found that people are less creative when they expect to be evaluated by others-and that sometimes they even censor their own creativity so that others can't evaluate them at all.

Personal disconnection. For all the uproar that Yahoo's new policy against telecommuting caused, there's reason to believe it will have its benefits. Research from the early days of email found that company communication declined as a result of its use, with causal personal greetings the first thing to go. Densely populated cities are considered great engines of innovation because they foster chance personal encounters, and there's reason to believe densely populated workplaces can do the same.

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4 Ways Digital Technology Boosts Innovation

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Earlier this year, Yahoo put an end to employee telecommuting in the name of innovation. Company CEO Marissa Mayer was attacked as someone who opposed work-from-home options, but the decision was her effort to emphasize face-to-face interactions over digital ones. The company's internal memo stressed the "insights" that come from "physically being together."

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Digital Inclusion

An activity that makes sure all individuals including the most disadvantages, are accessible to the use of Information and Communication Technologies.

Digital Inclusion Among Entrepreneurs

Enables entrepreneurs to have access to information all around the internet within the minimum amount of time. Therefore, business opportunities and innovations grow with the usage of ICT among entrepreneurs .

Source: https://www.digitalinclusion.org/definitions/

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Digital Inclusion

Digital Inclusion refers to the activities necessary to ensure that all individuals and communities, including the most disadvantaged, have access to and use of Information and Communication Technologies (ICTs). This includes 5 elements: 1) affordable, robust broadband internet service; 2) internet-enabled devices that meet the needs of the user; 3) access to digital literacy training; 4) quality technical support; and 5) applications and online content designed to enable and encourage self-sufficiency, participation and collaboration. Digital Inclusion must evolve as technology advances. Digital Inclusion requires intentional strategies and investments to reduce and eliminate historical, institutional and structural barriers to access and use technology.

Digital Equity

Digital Equity is a condition in which all individuals and communities have the information technology capacity needed for full participation in our society, democracy and economy. Digital Equity is necessary for civic and cultural participation, employment, lifelong learning, and access to essential services.

Digital Literacy

NDIA recommends the American Library Association's definition of Digital Literacy via their Digital Literacy Taskforce:
Digital Literacy is the ability to use information and communication technologies to find, evaluate, create, and communicate information, requiring both cognitive and technical skills. A Digitally Literate Person:

Possesses the variety of skills - technical and cognitive - required to find, understand, evaluate, create, and communicate digital information in a wide variety of formats;

Is able to use diverse technologies appropriately and effectively to retrieve information, interpret results, and judge the quality of that information;

Understands the relationship between technology, life-long learning, personal privacy, and stewardship of information;

Uses these skills and the appropriate technology to communicate and collaborate with peers, colleagues, family, and on occasion, the general public; and

Uses these skills to actively participate in civic society and contribute to a vibrant, informed, and engaged community.

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Digital Inclusion refers to the activities necessary to ensure that all individuals and communities, including the most disadvantaged, have access to and use of Information and Communication Technologies (ICTs).

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1.     Telegraph

Communicates the departure of arrival of trains and easing the transportation of people, goods and services.

2.     Telephone

Allowing long distance communication.

3.     Mass Production

Created job opportunity and increased production.

4.     Television

Advertise products to millions of sponsors and consumers.

5.     Computer and the Internet

Carry out business process such as accounting and reporting.

6.     Mobile Phone

Enhanced communication, increased business efficiency and productivity.

7.     Laptop

Allow users to work remotely.

8.     Smartphone

Allows sharing of information, connecting with customers in a large scale.

9.     Social Media

A platform to connect both entrepreneurs and consumers.

Source: https://techwireasia.com/2018/01/look-business-technology-evolution-decades

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FOR CENTURIES, technology has propelled human advancement in many areas - with business being one of the most prominent.

Now a crucial cog in any business machine across all industries, it is easy to forget just how far technology has come in transforming human lives.

But as the adage goes, sometimes you have to look back in order to move forward. Looking at this as one way to understand, and maybe even predict challenges of the future, the New York-based Business News Daily put together a timeline looking back at some of the world's most influential technologies and its impact on the business world.

Telegraph

Starting the telecommunications revolution in the US was the telegraph in the mid-19th century. Developed by Samuel Morse and other inventors, the telegraph enabled long-distance communication through transmitting electric signals over a wire laid between stations.

The first telegram was sent by Morse from Washington D.C to Baltimore in 1844.

The telegraph had a colossal impact on the business world. Once unheard of, businesses now had a way of communicating with others from hundreds or even thousands of miles away.

Perhaps the most common use for telegraphs was for the railway lines in America. The revolutionary technology made it possible to communicate the departure and arrival of trains, which went on to streamline the railroad industry. This allowed for the transportation of goods, services and people across the nation.

Telephone

Alexander Bell was the first person to register the invention of the telephone in 1876, and much like the telegraph, it allowed for communication that revolutionized the way people lived, worked and interacted with one another.

For businesses, it allowed for easy and cheap communication. Before the invention of the telephone, businesses needed to physically deliver messages to one another. Telephonic communication made the business much more efficient by diminishing this task.

Development of mass production

Henry Ford and the development of the assembly line led to the type of manufacturing that has completely changed the many industries and the availability of consumer goods.

Instead of a car being made from start to finish by the same team, Ford developed assembly lines in which parts were added to the vehicle as it traveled along the production line. Workers just had to learn how to fix one part. The result of this was cheaper and quicker production, as well as the creation of many factory jobs.

Ford's ideas soon after spread to other industries. Mass production led to increased jobs, wages and efficiency, as well as cheaper products for consumers.

Television

The first mechanical television was invested by Scottish engineer John Logie Baird in the early 1920's. Television was a revolution for business due to its large impact on advertising and entertainment.

The immense popularity of TV provided businesses with the opportunity to advertise their goods and services, and sponsor shows to millions of consumers.

The first-ever television commercial appeared on screens in the US on July 1, 1941. The ad, for New York-based watch company Bulova, cost just US$9.

Computer and the Internet

Today, the computer is the office, and for many is the strong dynamometer of working life. The invention of this technology paired with the Internet led to a communication revolution that would impact businesses forever.

The ability to store massive amounts of data, create information, communicate digitally, as well as make business processes such as finance and accounting a whole lot easier; the computer is a vital tool in today's business world.

Mobile phone

The first mobile phone call was made on April 3, 1973 by Motorola employee Martin Cooper.

The invention of this technology was a stepping stone to workplace flexibility. Mobiles enabled companies to communicate with employees at any time in any place. This led to easy communication and an increase in business efficiency and productivity.

Laptop

Much like the invention of the mobile phone, the development of the laptop meant that businesses could get things done on the go.

The technology, which is cheaper, smaller and easier to transport than a desktop computer, allows greater flexibility within a business. Those who travel often could work on trains or in airports, and employees now had greater flexibility in working remotely.

Smartphone

This technology is not called smart for nothing. A combination of perhaps a laptop and the mobile phone, smartphones are a condensed device powerful enough to run an entire business from.

Whether it's communicating with colleagues or other businesses face-to-face across the globe; ordering stock; managing invoices and finances; connecting with customers through social media; or sharing files and communicating with colleagues, everything you need is on one handheld device you can fit in your pocket.

As well as enhancing efficiency within the business, the smartphone also created a wave of consumer culture. Many industries now have another medium in which to create programs and market products on.

This year, it is expected that over a third of the world's entire population will own a smartphone.

Social media

Social media - including the likes of Facebook, Twitter, Instagram and YouTube - started off as a way for people to connect and communicate with each other. But today, social media has proved to be a crucial, effective tool for business growth.

Social media is yet another platform for businesses to connect with consumers and market products. Research has found that the greater the frequency and degree of engagement on social media, the stronger the brand-consumer relationship becomes. And this, in turn, has a greater impact on sales, customer satisfaction and product reputation.

Another study found that 80 percent of the Fortune 500, America's most successful companies, are active on one or more social media channels.

The future of business tech

The evolution of business technology does not stop here; in this fast-paced digital world, there's always going to be something new.

The emergence of technology such as the Internet of Things, augmented reality, virtual reality, blockchain, artificial intelligence, 3D printing, drones and robots are already beginning to, or have already disrupted, many businesses around the globe.

The only way to stay not just ahead, but in the race, it would seem, is to ensure your business constantly has its finger on the pulse of the ever-evolving world of tech.

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A look at the evolution of business technology through the decades - Tech Wire Asia

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FOR CENTURIES, technology has propelled human advancement in many areas - with business being one of the most prominent. Now a crucial cog in any business machine across all industries, it is easy to forget just how far technology has come in transforming human lives.