The Internet of Things (IoT) has progressed rapidly over the last few years. While it has always been present in some form or the other since the 1980s, however, it really came to the forefront in the last decade or so. The applications of IoT in business have grown exponentially from real-time data insights to improving productivity and managing inventory to facilitating automation. With more and more businesses recognising the benefits up for grabs here, the growth potential of IoT is limitless. According to Fortune Business Insights, the global internet of things market is projected to be worth USD 2465.26 billion in 2029, at a CAGR of 26.4% during the forecast period of 2022-2029. Applications of IoT in Business Here are some of the many ways in which business use IoT to improve their efficiency and bring down their costs: 1) Customer Service Companies are able to provide tailored end-to-end…
What is IoT? The Internet of Things (IoT) basically refers to a system where devices…
In the last article about introduction to business networking, I talked what the term means and how it benefits entrepreneurs in various ways Here’s a quick recap to give you brief overview on business networking: Business networking refers to the practice of meeting people to collaborate, share knowledge and cultivate mutually-beneficial professional relationships. Forming such connections helps you in broadening your knowledge base about various business fields and it also applies to working professionals in different sectors. Entrepreneurs use their networks to discover new investment opportunities, promote their brand(s), attract more customers amd diversify into different business segments. On the other hand, working professionals use their networks for referrals, new job opportunities and expanding their skillset in a bid to industry experts and leaders. Different Types of Business Networking Organizations Now that you’re aware about what networking is and how it is highly beneficial, let’s talk about how to network effectively…
Just as much as businesses need to deal with the problems and challenges in the present, they also need to be able to have a clear enough picture of what the future holds. Trends keep shifting, new demands keep cropping up and regulations keep getting modified. A competent business model always includes ways to predict or forecast the future proactively and function in accordance with those predictions in order to succeed. What is Business Forecasting? Business forecasting refers to the process of determining the future for the company in terms of economic volatility, market movement, consumer demand and growing competition. After doing its due diligence, a business must prepare short term-action plans, contingency plans and long-term operational strategies based on the previously determined forecasts. Forecasting is both an art and a science since it uses qualitative as well as quantitative data to predict the future. Accurate and timely forecasting is…
From Tesla’s self-driving cars to Facebook’s Metaverse and all the intelligent AI softwares that can…
Companies these days are driven by more than just their primary objective of making profits. As a business serving local and global communities, they are also responsible for supporting their environment and giving back to the society. Socially responsible companies make efforts to devise and implement their Corporate Social Responsibility(CSR) by integrating it with their business plans in a bid to take meaningful action. Not only does it improve the community and uplift its people, it opens doors to a lot of resources, funding and goodwill. Corporate Social Responsibility(CSR) is essentially a way to do good for the local and global communities which are responsible for helping the business operate and thrive. Donations, ethical+social campaigns, volunteering and supporting small businesses are a few ways to do that. It also helps a company to improve its brand image, customer loyalty, media coverage and increased support from shareholders and the public. CSR…