In a world that is governed by constant technological advancement, how has technology affected business? The pace of business and the expectations of customers have both been influenced by new developments. Although previously manual, data extraction using modern tools has become easier and more affordable, allowing organizations to analyze the data more efficiently. Mobile devices, for example, have changed the way many businesses serve and attract customers. But, what about the changing value of human resources?
IS technologies have also given rise to new product features that allow companies to differentiate their offerings and shift the basis of competition. In the 1970s, a major magazine distributor found itself in cost-based competition with a competitor. It used cheaper methods for sorting and distribution, resulting in reduced costs and fewer employees. It also reduced inventory levels. These advances in technology have led to an overall improvement in the operations of a major magazine distributor.
Self-checkout technology is spreading to smaller stores and has replaced the need for a human at the checkout line. In some stores, customers can scan items using a mobile app and a barcode will be generated for the entire order. The customer can then scan the barcode to get the total amount of payment due. New innovations in this field are replacing human components, and interesting possibilities lie ahead. In the meantime, businesses are adopting new building blocks that make it easier to handle data and inventory.
