Business growth is the ultimate goal that companies of all sizes across several industries work towards. Achieving this is demanding but attainable, and the challenge for many business owners is thriving inexpensively and feasibly.
Thankfully, several new technologies exist today that you can harness to integrate, automate, and redefine many operations. This way, you can enjoy lower operational costs and streamlined processes that inevitably set your enterprise up for growth. Below are four great ways to use new technology to engineer business growth.
1. Harness big data for analytics.
The ongoing digital transformation means that there are hundreds of data sources online that can help you streamline your company’s growth strategies. However, every major decision your enterprise takes nowadays must be evidence-based, so you need big data analytics for insights. Since there’s so much information on the web nowadays, combining artificial intelligence with big data analytics can help you gather and aggregate vast data quickly and cost-effectively. Also, knowing basic machine learning concepts can help you analyze data better. Trusted sites such as the Nick McCullum website will come in handy with tutorials on such subjects.
Nick McCullum is a professional explainer and software developer who writes business, software engineering, entrepreneurship, and finance-themed articles on his website. His tutorial on K means clustering Python is a guide to help learners build their first K means clustering algorithm in Python. This method is an unsupervised machine learning algorithm that splits a given data set into a fixed number of clusters. K means clustering identifies the “k” number of centroids and allocates each data point to its nearest cluster while keeping centroids as small as possible. McCullum’s tutorial covers creating artificial data in scikit-learning, building and training a K means clustering model using scikit-learning, among other topics.
2. Use social media for digital marketing.
Since people access more digital content nowadays than ever before, an overall effective digital marketing strategy is necessary to ensure that your business can compete and grow over time. Social media is one of the most effective weapons in your digital marketing arsenal that can genuinely help you conquer the modern-day business landscape and transform your enterprise into a global venture. You can target potential customers and engage with your current clients using various marketing campaigns and interactive posts. Social networks also allow you to offer timely customer service and connect with influencers who can promote your services and products. Also, consider relying on professional marketing services to help you hone your social media marketing efforts for the best results. Reputable fractional CMO firms such as Chief Outsiders will come in handy when seeking experienced business coaches.
Chief Outsiders is a countrywide “Executives-as-a-Service” firm that offers management consulting services to businesses. You can engage a leading fractional CMO as a marketing coach to mentor your marketing leaders and help them find the best market strategies for your business processes. As such, their marketing coaching services help your company access the right talent, expertise, and tribal power to make your marketing efforts more successful. You can get started with the all-important first step of sharing your challenges and opportunities for growth and get matched to a thought leader who is a good fit for your business. The practical knowledge and experience you get from this coaching service can modify your marketing plan and provide fresh insights into effective marketing techniques. What’s more, your marketing leader benefits from coaching sessions with these experts, simultaneously driving professional and business growth within your company.
3. Optimize everything for mobile.
Mobile technology keeps evolving by the day, and it only keeps increasing in popularity. Everyone uses smartphones to communicate, purchase items, surf the web, and efficiently organize their lives. Therefore, take advantage of this mobile trend by optimizing all your processes for mobile to ensure business growth and success. Mobile recruiting, mobile marketing, enabling mobile payments, text message marketing, and having a mobile-friendly website are all effective ways to appeal to any modern target audience. Also, since modern-day businesses rely on integration architectures, understanding point to point integration can help you discover whether it’s a good fit for your company’s IT infrastructure. Application integration solutions enhance business process automation, improve your scalability, and integrate your endpoints better, so investing in this integration architecture is a practical alternative to costly and complex point-to-point integration.
4. Migrate to the cloud.
Cloud computing stores, manages, and processes data on a server network hosted remotely on the internet. Many business leaders are already using cloud computing to their advantage, so you’re significantly disadvantaged if you’re not using cloud-based solutions. However, it isn’t too late to enjoy the enhanced cybersecurity, better operational efficiency, and flexibility inherent in adopting cloud computing. Therefore, hire a professional team to oversee your migration to the cloud today to ensure that you can stay online and productive at all times while enjoying numerous other benefits.
All things considered, achieving business growth in the current marketplace is challenging, but several new technologies exist to help you realize this. The above-listed points are four helpful tips worth knowing to exploit some of the best new technology available nowadays in your favor.