Term Paper on the Digital Business Environment

4 pages
1082 words
Wesleyan University
Type of paper: 
Term paper
This essay has been submitted by a student. This is not an example of the work written by our professional essay writers.

Technology has improved the face of the business industry. Ease of communication, networking, sustainable invention strategies, are just but a few benefits of technological applications that have thrived in the business market. Today, mobile apps have company information that customers can access and generate any information they require. They are used as communication gadgets that reach out to customers either when on/offline. Digital marketing is another blessing for the business industry. Business owners have taken advantage of this innovation to go global. They are reaching out to their potential customers through the internet, social networking platforms, and company apps. The business environment has thus been reduced to a global village, thanks to technology. Meetings can now be shared through the internet site such YouTube, websites and online. Our focus is our customers since we are dealing with mostly the young generation, technology is our best shot to reach out to them across the globe. We won't fold our hands and let this golden opportunity bypass us, the change we need to focus on customers is in technology.

The traditional method of marketing through company agents, organizing field activities or charity, fun day, convention programs among others to meet with customers and potential business partners is now a thing of the past for most companies. E-commerce and retailing are the innovation in town. Marketing is now done by a snap of a finger, and over 200,000 customers can be reached out to through different communication channels. Technology has thus shaped the business industry, as new companies are emerging, innovations are also emerging. Operation in the business sectors is, therefore, becoming flexible and profitable to owners who are investing more in technology to reach out to as many consumers as possible. Since technological applications are fast, cost efficient and convenient, the new face of business operation is here with us (Swapnil & Veena, 2016). Technology is becoming a tool that makes business the best prospect to engage with consumers effectively.

Virtualization as a networking tool is already gaining grounds in the Business technology and affecting the sector substantially, as, since 2014, virtualization has drastically increased primarily in data center networks. The tool is widely used by companies due to its effectiveness in server utilization, power consumption, and application performance. Cloud Computing is speedily expanding in the Information Technology enterprise. A prediction by Garter's Technology shows that by the end of 2017, adoption of cloud into data centers will hit $250 billion. This data is concurrent with the most recent research data that was conducted in the fourth quarter of 2013, which also showed an increase in global enterprises' dependence on the cloud. The same prediction projected an annual 20.2 % of the global growth of the Software as a Service (SaaS) market by the end of 2017. These predictions are indications of the continued development of the Virtualization as a networking tool to reach out to customers for the business industry.

Wireless networks are a development witnessed in network design and management; most companies are shifting to wireless networks for communication. This system uses wireless data connection nodes. The network is popular in homes, telecommunications networks, and enterprises. It can be propagated through the installation of cables on administrator radio communication using the OSI model network system. The wireless networks popularly utilized in the business environment include phone networks, Wireless Local Area Networks, (WLAN), and terrestrial microwave networks among others. Wireless links are growing trends as wireless networks can transmit waves over a large area. Additionally, they allow security and can accommodate many transmissions to different channels simultaneously such as the Ethernet, Wi-Fi networks (Kennington, Olinick, & Rajan, 2011).

The business environment has many sectors. Companies have substantially utilized technology to bring in a new brand in the business industry. The supply chain and logistics, house, and inter-active synchronization, production, office automation are some of the areas that technology has improved through many applications developed to date. The use of various technological approaches like Artificial Intelligence, Augmented Reality, Internet of Every Thing, Virtual Reality, and Machine Learning is overwhelming. Business firms are becoming knowledgeable and training employees in the same line. There are existing software companies that have emerged helping the business industry grow regarding innovation and technological advancement. Software innovation has been impactful in revolutionizing the business environment to a digital environment where technology is the order of the day.

Artificial Intelligence since its inception has made work easier for companies who majorly use machines for their operations. AI is used in the Finance sector for algorithmic trading, analyzing the market and mining data, personal financing, portfolio management, underwriting, telecommunication, marketing, and transportation. The application helps in artificial creativity, face, speech, handwriting, and optical character recognition, computer vision-virtual reality, and image processing, automation, biologically inspired computing, representation of knowledge, semantic web, e-mail spam filtering, data and concept mining, strategic planning, etc. Virtual Reality is another application that is widely used in the business environment (Swapnil & Veena, 2016). The app produces a set of information that is used for developing new models, interaction, communication, and training methods. It thus helps in improving production at work. It is a cost effective way of improving production and service delivery.

Augmented Reality is also useful in the digital business environment. The introduction of GPS, AR and camera on iOS and Android smartphones necessitated the use of AR in business. Companies can, therefore, communicate automatically to their customers through video lancing thus making communication a one on one affair. Internet of Every Thing is another tool that is transforming the business industry. Office automation, supply chain and logistics, and production are well catered for by IOET. It brings people, things, data, and processes together for a networked connection that creates richer experiences, new capabilities, and unique business opportunities. Machine Learning is another technological tool in business used for logistics, automation and data synchronization. Operations are, therefore, easier using these applications making the corporate sector a sought-after prospect for economic empowerment.

The claims invented so far have been beneficial to the business industry. The industry is transformed, and production is easier than before. Human Resource analytics is possible without going through bulky paperwork to recruit, retrenchment, train, and motivate employees. Market analysis and monitoring are at the disposal of marketing directors and HR. These technological applications bring information home without much struggle. Data can be collected, processed and synchronized into a system that is easier to comprehend. With Artificial Intelligence, financial logarithm has never been easier. It matches every key financial aspect and synchronizes them into data that...

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