Business Trends of New Year Year 2016
With the ringing in the year 2016, several brows have been raised to look out what’s in its store. If technology was the trend of 2015, then data holds the key to set that trend. The coming year 2016 will have more from these two or, it would be better to call both the business transformers. Let’s catch how technology gets mingled with the data to produce digitized data for accelerating business growth:
Digitized Data At The Top: New devices evolve every day. And techniques stride new height. The year 2015 was named to the internet of things but data was in the lead role at the backstage. In 2016, the data will strengthen its role through technology. Biggies of the corporate world create vision before targeting audience. It’s all preplanned. They redirect their corporate plans by assembling data through market research. The market research companies do forecasting using users’ data. Even, startups take help from these to define their products, gimmicks and business strategies according to the databases provided by researchers of data.
Retailers Bank On Digitized Data: Since the day digitization has begun interrupting trade, retailers have entered the era of profit-earning. Before the inception of digital data, retail trade was walking on unidirectional path where retailers used to pick out the hottest trend that could easily be sold. In this, their experience of years in this business was enough to cater the demands of the customers. But now, the bridle is in the hands of digital data. The behavior of the customers and their tastes are collected through emails, surveys and other research methods before launching a product. These are all the outcomes of digital data. Ecommerce industry is booming just because of this reason.
Digitized Data As The Business Transformer: Dramatic ups and downs have been registered since the day data has gone digital. How businesses can push boundaries, its secret lies in digitization. The creation of a product depends on data science, data design and data strategy. Once the trader identifies what’s the actual requirement of the customers, it becomes easy to give more personalized experience through the products of customers’ choice. Subtly, it becomes easy for the businessmen to design the product of the desires and thereby, generate supernormal revenue through the rich insight that is given by the big data.