We live in a digitally evolving world, and there’s no doubt that small businesses ought to keep up technologically if they wish to compete in a level playing field. Much like last year, 2019 is expected to be filled with a number of technological advances that will assist with growing and improving your business – here are four trends you should keep an eye out for to ensure that you stay on top of the game.
Data analytics to make better decisions
Things are becoming increasingly data sensitive, so it’s only right that you jump on the data analytics bandwagon to make the most of its offerings. As a business you’re likely to have an abundance of data and information at hand, and analysing it closely – from the perspective of both the customer and as a vendor – can give you an advantage of efficiently managing your logistics, understand what to sell, who to sell to, and what marketing tactics you can employ.
Essentially, thorough data analysis and mining will allow you as a business to make better decisions and as a result turnover higher profit.
Use self-serve cloud services
According to a survey conducted by CDW, nearly three-quarters of its respondents said they were using cloud services to some extent, with 30 per cent vowing to integrate it further into their businesses in 2019 to keep up with the ever-changing digital economy.
Small and medium sized businesses are adopting a self-service economy model, in a similar fashion to how individuals are buying in to Amazon or Apple stores in their personal time. This will ensure that small enterprises can buy services and technologies at their own pace and of their own accord, and can customise the cloud to their individual purposes.
Cybersecurity is a priority
We hear about cybersecurity and the growing frequency of cybercrimes almost every day in the news – you’d be silly not to get on board by ensuring some level of digital coverage in anticipation (or merely just prevention) of a hack.
There is an abundance of software in the market that can protect computers and provide small businesses with the required coverage, but going forward into 2019, using technologies laced with artificial intelligence (AI) is likely to give businesses that edge of security they so deserve. This will also allow companies to monitor their devices and user behaviour to flag suspicious activity and take suitable action to remedy the situation and improve security. After all, to err is human and AI will negate that issue.
Expect a digital transformation
There’s already been so much technological change in the past year, and this momentum is likely to continue with time and through the course of the year. Small businesses are encouraged to keep up with larger organisations in terms of modernisation and transformation, so they too are well-equipped for the future.
Vice president of small and medium business research at IDC, Raymond Boggs, said: “When buying a solution and making an initial investment, small businesses need to weigh the immediate impact against the larger technology trajectory and how the business will compete in the future digital economy in 2020 and beyond.”
“That’s where digital transformation and future proofing your infrastructure comes in: is there an investment you can make now that will allow you to grow and remain flexible?”
With technology on the cards, it’s all about staying on top of the trends and being flexible. Is your business ready for 2019?