Information technology is what makes it possible to keep your data and information safe and only accessible by you. For more information, see our Cookie Policy. With improving security standards, you could also do away with passwords altogether and try biometric security systems, which do not require you to remember a dozen passwords at once. It might not seem like we’ve made that much progress, but even just 5 years ago, social media did not have any consumerism, mobile phones weren’t used for business, cloud-based solutions did not exist, the App Generation was not born yet, and omni-channel marketing was taking its baby steps. computer image by peter Hires Images from. By allowing consumers to access products and services from any computer, phone or tablet from home or on the go, companies have made it easier than ever for people to move money. Millions of new websites are being added on the internet every year. Digital Marketing is a modern phenomenon which let you promote your products or services all over the world. 5. Cloud Computing. He went from food stamps to billionaire because of his invention of WhatsApp. That’s why they need IT Experts and IT infrastructure. Technology enables us to automate numerous processes, which thereby increases our productivity. These online tools not only provide real time responses from the potential audience but also ensure the accuracy of data by minimising the risk of human errors. Education is one of the frontiers of technology and is growing with technology every day. To be more specific, here are a few ways in which information technology has affected business: 1- Communication In the business world, communication plays an important role in maintaining the relationship between employees, suppliers, and customers. This concept has introduced the idea of globalisation. © Business 2 Community. This eliminates the possibility of payments being mailed and subsequently arriving at the utility provided after the payments due date. While changing to meet the needs of the current culture, small business owners and large corporations should consider digging in and using IT to its full extent. Today, the business makes the right use of IT tools to make the maximum commercial advantage. But I will briefly explain digital marketing here which was the dream in the past without Internet technology. Information technology is the only technology which provides you the opportunity to analyse specific data and plan your business journey accordingly. Currently online shopping, digital marketing, social networking, digital communication and cloud computing etc are the best examples of change which came through the wave of information technology. increase the productivity of business. In the process, it has become possible to serve even more clients. The use of technology in business is to create more virtual sources for deployment and storage reducing the stress and cost of running a business. Through the use of encryption and passwords, your digital data is safely hidden away and can only be accessed by those who have your permission. Another way that time can be saved is in the rapid duplication of information. It is a broad term which includes many concepts like search engine optimisation (SEO), pay per click (PPC), blogging, discussion forum, email shot, SMS, MMS, social media marketing and Smartphone app advertisement etc. Thanks to the Internet Technology that has enabled us to communicate with millions of potential or existing customer in the real time. Now we can see that information technology has become very important in today's world, because it helps in simplifying daily work. Small Business Bible: Some Advantages and Disadvantages of Information Technology. What Are the Advantages of B2B & B2C to Conduct Business Using the Internet? The technological revolution has improved businesses this century in the following five primary ways: 1. it has caused an explosion in commerce and trade; many traditional business models and concepts were revolutionized. Even technology is more advanced with the help of predictive data analytics tools to predict problems and opportunities before it’s actually happened. And after analysis of the small and big data they received from the devices, it’s easy to take the next business decision in business. It might be a little difficult to fathom the importance of information technology to an organization if you’re not an IT professional. Technology gave us the opportunity to see things from a new perspective, and to approach what we were already doing from a new perspective. Information technology has improved marketing. Nicky is a business writer with nearly two decades of hands-on and publishing experience. It’s easy to figure out how many people clicked on an online banner. With an increasing number of transactions happening online, it is important that financial and security institutions work together to make the internet a safe place. Today's businesses rely more heavily on technology than ever before. Companies are even able to communicate with or reach out to people all over the world, thereby increasing exposure to their ads without having to pay an exorbitant amount of additional advertising costs. Business success depends on knowing its customers needs, trends, behaviours and satisfaction level. It is tough to imagine going back to performing tasks manually. Some of these channels are email, webinar, social media, member portals, online newsletters and text or multimedia messaging through the smart phone.