Impact of Digital Technology - Report
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Added on 2020-07-22
Impact of Digital Technology - Report
Added on 2020-07-22
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Table of ContentsINTRODUCTION...........................................................................................................................1LITERATURE REVIEW................................................................................................................2Activities and timescales..................................................................................................................4Research methodology ....................................................................................................................6Data analysis ...................................................................................................................................9CONCLUSION .............................................................................................................................18REFERENCES..............................................................................................................................19
INTRODUCTIONDigital technology has revolutionized the operations of business. It has dramaticallymodified business model over the last decade and transformed activities of business. With theuse of digital technology in the business a wealth of choice and opportunity is being provided tothe business. The digital technology such as cloud-computing, social media, internet of things,artificial intelligence and big data analytics, etc. are being used in the business. In order to gainmore profit and expand their business, these technologies are used by most of the organisationstoday. Over the past, many researchers have conducted research on the use of digital technologyin business (Tuten and Solomon, 2014). Through research that was conducted in the previoustime, one can gain knowledge about what all are the benefits of using digital technology inbusiness. In this current research, the researcher will conduct research on the impact of digitaltechnology in the SME organization such as Unicorn. The use of digital technology have helpedthe organization to bring innovation in their company. Unicorn is small-scale retailorganization in the UK. In this report, literature review will be given on the impact ofdigital technology. At the end of this report, a conclusion will also be drawn. Impacts ofdigital technology on the small enterprises and businesses can be understand by this reportbecause it includes different impacts, advantages and disadvantages of digitalisation. Aim“To study the impact of digital technology in the business firm - A case study of Unicorn”Objective To study different types of digital technologies that can be used in the businessTo evaluate the impact of digital technology in UnicornTo analyse the benefits of using digital technology in business firmsTo recommend the digital technology that can be used in UnicornRationaleThere are number of reasons for which this research is being done. One of the reasons inthis context is interest in this area. In order to conduct this research, I have personal interest as itwill help to develop my understanding towards the use of digital technology that is used by1
business firms so that they will be able to develop positive perception in the minds of customers.Also, in order to conduct this research in an efficient way, a certain set of skills is required sothat this research will be done effectively and efficiently (Vaioleti, 2016). So, in context of thisresearch, I will be able to develop skills and gain knowledge about different types ofmethodologies in research. Also, I am also looking forward to pursue my career in the retailsector. Through this research, I will be able to understand the use of these technologies in retailsector and also benefits that are given by these technologies in the business. Furthermore, thisstudy will also help to gain understanding about what all changes need to be brought inorganization to fulfil the expectations of both; customers and business.LITERATURE REVIEWDifferent types of digital technologies that can be used in the businessAccording to Hays, Page and Buhalis (2013), in the business, the different types of digitaltechnologies can be used. The digital technology such as cloud computing can be used by thecompanies in order to store and share the data and information. With the use of cloud-computing,business firms will be able to save both; time and cost as it will help them to easily storeinformation on one cloud and also, implementation of cloud-storage is not so costly. Theflexibility to the employees will also be given as at any time and anywhere, they can access thedata. The only need of cloud-storage is internet. Contrary to this DeMers (2014) , the otherdigital technologies that can be used by business firms is social media and mobile phones. Thesocial media platform such as Facebook, Twitter and YouTube can be used by the organisationin order to promote its products and services among target audience. With the use of these media,business firms can grab more number of customers towards their products and services. The useof mobile phones in the business helps to stay in touch with people that are residing in othercountries. Thus, the business firms can discuss about the time and place where meetings need tobe held on the phone and also, they will stay in touch with the business even after office hourswith the use of mobile phones.As per Eagleman (2013), Now-a-days, new digital technology such as artificialintelligence is being used by the companies in order to predict the behaviour of customers. Thistechnology will help the companies to bring innovation in the company by fulfilling needs ofcustomers. The big data analytics can also be used by the company in order to store a large2
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