Tech Helps Businesses Streamline Data, Activities & Costs

From IBM's Watson, it is evident that technology can help various businesses in maintaining the flow of accurate data, employee contacts, and records, and also tracking activities. Technology has increased the speed and efficiency of operation in the business sectors and also reduces the production cost by lowering the number of human resources in the firm. Technology has created a channel where it is easy for business operators to reach out to their clients, suppliers, and sales teams (Ferrucci, 2011). Businesses can produce larger quantities of commodities at a better quality and sell them at a lower price; this is because, technology has made it easy to reach suppliers, information and also operating cost has been streamed lined.

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An example of technology frequently being use by various businesses is an intelligent system. This is a system that involves the collection, analysis, and delivery of essential data in an organization through computers (Ferrucci. 2011). Businesses use this system to identify and monitor various changing business trends to adapt to their surrounding environments. This system can help businesses in the following ways; improve the decision-making process, understand customers and sales trends, and improve the efficiency of operations of the business.

Two of my peers once posted about companies using social computing in various business organizations to obtain a competitive advantage. Social computing is a system where businesses conduct their business online through collaborative and interactive aspects (Parameswaran, and Whinston, 2007). The following are some of the competitive advantages of this technology; it helps the business to be closer to its clients, thus easy promotion of commodities and brands. Customer relationship management is enhanced through this technology because, the business can view the opinions of the public and customers easily and respond to them quickly, some of the large organizations have started to employ the system of crowdsourcing to carry out their research and develop their business. This is essential, especially if businesses want to gain customers' trust over others.

The following companies have thrived in the use of social computing, Cisco Company, and Ford Motor Company. Cisco Company operates in developing and selling technological services like hardware and software and other telecommunication appliances. Ford Motor Company operates mainly in selling motor vehicles; therefore, these companies are thriving by acquiring information from their clients and other members of the public through online socialization. They also market their products, and this helps them to reach a large number of customers all around the world. Thus, their competitive advantage lies in creating a large customer based market and being easily able to acquire information online and apply them.

References

Ferrucci, D. A. (2011, June). IBM's Watson/deepqa. In ACM SIGARCH Computer Architecture News (Vol. 39, No. 3). ACM.Parameswaran, M., & Whinston, A. B. (2007). Social computing: An overview. Communications of the Association for Information Systems, 19(1), 37. https://doi.org/10.17705/1CAIS.01937

Links to selected companies

https://www.socialmediaexaminer.com/how-cisco-uses-social-media-to-connect-with-customers/

https://www.targetmarketingmag.com/article/ford-motor-co-uses-social-media-listen-engage-customers/all/