BM565 Digital Business: Transforming Customer Experience with Tech

This report examines the transformative impact of new technologies on customer experience within the realm of digital business. It delves into the importance of customer experience, its development over time, and provides detailed descriptions of various technologies such as chatbots, big data analytics, and virtual reality, elucidating their practical applications and effectiveness as business tools. The report further explores the relationship between digital technology and customer experience, highlighting the role of digital transformation in enhancing customer satisfaction and loyalty. Additionally, it discusses both old and newly emerging business and management theories, including systems management, contingency theory, classical management theory, and decision-making theory, and their relevance to modern organizational structures and practices. The study concludes that digital technology is a crucial aspect in today's world, offering various benefits to both businesses and customers, thereby underscoring the importance of adopting and adapting to technological advancements for sustained growth and success.

Digital Business & New
Technologies

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
TASK 1 ...........................................................................................................................................1
Importance of transforming customer experience through new technologies ...........................1
How topic is developed...............................................................................................................2
Detail description of technology and what it is used for ............................................................2
Technological Platform and software.........................................................................................3
What type of business and organisation uses the technology.....................................................3
How it is used as business tool and its effectiveness..................................................................3
TASK 2............................................................................................................................................4
Relationship between digital technology and customer experience............................................4
Old and newly emerging theories on business and
management structures and practices.........................................................................................4
CONCLUSION................................................................................................................................4
References:.......................................................................................................................................5

Executive summary
The report is based on digital business and new technology which cover the topic of
transforming customer experience into new technology. The customer experience is something
perceived by providing any service or product. The role of new technology is to have interaction
with customer shopping journey and how technology creates experimental value to customers.
The report discusses importance of topic, how it is developed. The technology and software used
and how technology work as business tool. Along with this their is discussion of relationship
with digital technology and customer experience. It also covers business and management
theories and practices.

INTRODUCTION
There is use of technology in digital business for creation of new values in models of
business, consumer experience and internal capabilities that helps in supporting core operations.
In environment business is transformed by comprising of both digital brand and traditional
players with help of digital technologies. In today's times, the spending of people time is on more
online which forces business to shift on digital sources for revenue generation by use of different
digital channels. The people becomes familiar with digital products and services by having
growth in digital economy and leads to companies to seek new competitive benefit in digital
space (Adhikary, and et.al., 2021). Digital technology defines to electronic tool, system and
resource through which data and information is processed, store and generated. This involves
social media and mobile phones etc. On topic of transforming customer experience through new
technologies the report is presented. The report will cover importance of topic, how it is being
developed, comprising detail description of technology and platforms and states how it is
effective. Further it discusses, how it is related to content and relationship between digital
technologies. Moreover it covers old and newly emerging theories of business & management
structures and practices.
MAIN BODY
TASK 1
Importance of transforming customer experience through new technologies
The customer experience is an impression of customer that they have on brand as a whole
throughout all aspects of buyer journey. In creating the customer experience there are two
primary touch points people and products. It is result of interaction that customer have with
business form navigating website to have conversation with customer service and receiving of
goods and services. In creating digital strategy for customer experience three components are
involved such as discovery, engagement and delivery (Bukhtoyarova, 2022). In the organisation
the customer experience is important for attracting and retaining customers in such competitive
environment which helps in creating lifetime value and brand loyalty. The effective and good
customer experience is critical for the sustained growth of any business.
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How topic is developed
The customers are important aspect in repeating business and leaves positive reviews by
having an good customer experience. The customer experience was developed by organisation
when they offer them some kind of services and products according to their needs then it leads to
satisfaction and that customer experience in regards to services and product offered. There exist
interaction between the customer and brand for attaining some results. The positive customer
experience is something about meeting those expectations and accomplishing desired results.
The emerging of new technologies enhances more customer experience as latest technology is
adapted by companies which helps in offering quality products and services (Gruber, 2019). The
consumer decision making is also influenced by technological changes and implementations.
Detail description of technology and what it is used for
In the age of digital customer are more demanding. The use of modern technologies
transform the customer experience for business. Thus, the use of advance technology helps in
improving business efficiency, productivity, growth prospects. For business enterprises
customers are crucial aspects. In competitive business age retention of customer is major
challenge by leveraging the advantage of technological advancement business can easily satisfy
ans retain large customer base leading to improvement in business efficiency (Hsieh, 2019).
There is use of various technologies that helps in improving customer experiences such are as
follows-
 Chatbots- In the business it is a latest revolution with help of AI-powered chatbots the
business better equipped in handling customer service functions. The customer demand is
fulfilled with virtual assistant that provides instant service support from company. The
service can be provided through mobile app, instant messaging, SMS or websites.
 Big data analytics- This technology is used for providing better experience to customer
as consumer are willing to share data with companies for having offers and discounts.
With massive data inputs received by business through several activities. The use of big
data analytics helps in business growth by gaining useful insights into consumer
preferences and behaviours which offers personalised services (Nazarenko, and et.al.,
2022).
 Virtual reality- This is effective technology that helps in transforming consumer
experience. This technology has potential in altering the consumer experience by
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engaging customer in better way. This technology is designed for providing entire
sensory experience which captures attention, imagination.
Technological Platform and software
There are several companies which takes use of technology for handling customer
experience in most efficient and effective way. The companies can take use of data management
analytics and insight driven marketing for improvement in consumer care systems. There are
several technological platform and software which is used by organisation fort the enhancement
of customer experiences of consumers such as-Websites, e-mail, marketing automation. The
companies also take use of customer experience software which defines to software designed for
monitoring and enhancement of overall customer experiences while having interacting with
business or brand (Ravikumar, and et.al., 2022).
What type of business and organisation uses the technology
In toady's times the companies heavily relies on technology far having better
communication, productivity and tracking purposes that makes business successful by driving
and sustaining business operations. The technology is used by every kind of organisation as
every business aims to have large customer base so that sales can be increased and profitability is
generated. Whether the company is retail, manufacturing or automoblie etc. the customer
services is provided by every organisation which leads to satisfaction and experience. The tesco
take use of virtual reality technology. The example of Hilton can be taken using this technology
of artificial intelligence which works with IBM. The chatbots technology is used by Adidas with
help of Facebook it improved the consumer nearness and engagement (Roscoe, and et.al., 2019).
How it is used as business tool and its effectiveness
The use of several technology in companies work as business tool as this helps in
communicating with customers which becomes important for the employees to have interaction
with their clients. The use of websites helps customers in finding their answers and product is
offered online with fast shipment that allows business to move their products over large
geographic area. The technology helps business in understanding cash flow needs and resources
are taken into account such as time & physical store. The effective use of technology will help in
saving time and money over internet. The technology can also be used for protecting financial
data, decisions and other information that can leads to competitive advantage. Technology tracks
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and measures customer online footprints which highlights to precious insights in consumer wants
and motivates them regarding product and service. In past he technology was helping to society
(Sharonov, 2019). The typewriter is replaced by digital system of computer and word processing
software. Telephones is now come in version of mobile phones. Now ideas, and resources are
shared easily.
TASK 2
Relationship between digital technology and customer experience
The customer experience is an crucial factor in business organisation which plays
important role in digital transformation ad customer experience is improved which leads to
growth and business success. The digital transformation and customer experience can increase
company revenue by 20 to 25%. It has been analysed that there is change in customer needs
which cam be fulfilled by use of technology. The Amazon is an example which take the
advantage of digital technology and leading to digital customer experience. The advancement in
technology and excellent customer experiences has lifted standard of digital customer
experiences which increases the importance of optimization digital business. From customer
perspective the aim is to create best version of customer experience by satisfying them and
remaining loyal towards brand (Tagarev, and yanakiev, 2020). The strong relationship created
between company employee and customers as feedback is shared regarding product with the
customer service in believe of that their feedback will reach to product team. The companies can
have expansion in wide geographic area and uses several digital tools such as of social media
marketing. E-mail, advertising, personal selling etc. for brand promotion and to provide
customers product through online to anywhere.
Old and newly emerging theories on business and
management structures and practices
In the business world there are many management theories in which some of them are old
or new. He management practices defines to working methods and innovation that is used by
manager for improving the business effectiveness of work systems. He management practices
involves training of staff, introduction of scheme for improving quality, and several form of
technology. The management theories recommend to management strategies which involves
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frameworks and guidelines that are implemented in modern organisation, The theories are as
follows -
 System management theory- This offers to an alternative approach to planning and
management of organisation. The organisation success depends on various key elements
such as interdependence, synergy, and interrelations between subsystems. In company
employees are most important component along with other elements such as departments,
work groups are crucial. It is composed of interacting elements which is affected by
environment and due to this interaction the system can develop new properties and self-
regulate.
 Contingency theory- This theory was based on the effective leadership which is directly
related to traits. There exist an set of traits for every situation which requires different
leadership traits,. In organisation the leaders needs to be flexible so as to adapt changes as
market, business and team demands. There is no one management approach which
applies to every situation. Three variables such as size of organisation, technology
employed, leadership at all levels determines business management and structure (Van
esch, and black, 2019).
 Classical management theory- This theory is predict on idea that employees have only
physical needs as their needs can be satisfied with money. This theory solely focuses on
economics of organising workers. The personal and social needs are ignored which
influences the employee satisfaction. The classical management theory was based on
principles of profit maximising, labour specialisation, centralised dealership, emphasis on
productivity etc. This creates ideal workplace depending on hierarchical structure,
employee specialization and financial rewards when principles are put into practice.
 Decision making theory- This is a theory of in what way an individual should behave
under risk and uncertainty. Decision making is process of activities that involves stages
of problem recognition, searching of information and alternatives and then selecting of
best alternatives. The theory take use of set of expression regrading rational individuals
behaving which is been challenging on both empirical and theoretical ground. There is
formulation of general policy in management of an organisation. This theory influences
the customer choices leading to satisfaction. This theory transform customer experience
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as they take decision whether they are satisfied with the customer service of organisation
product.
CONCLUSION
From the above study it can be concluded that digital technology is very crucial aspect in
world which offers various benefits to the business and customers. The emerging and
advancement of technology such are artificial intelligence and machine learning, robotic process
automation, block chain, virtual; reality etc. There is transformation in product and services of
company by application of digital technology that leads to improvement of customer experience.
Digital business is important for the rapid development and moving into new market of
companies. Several digital platforms are used which helps in attracting large number of
customers. To the customer online service are provided which improves their customer
experiences. The customer will experience something new with advanacemwent of new
technologies.
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References:
Books and Journals
Adhikary, and et.al., 2021. how does the adoption of digital payment technologies influence
unorganized retailers’ performance? an investigation in an emerging market. journal of
the academy of marketing science, 49(5), pp.882-902.
Bukhtoyarova, 2022. the need to introduce digital technologies in logistics companies.
in proceedings of the international scientific conference “smart nations: global trends in
the digital economy” (pp. 395-401). springer, cham.
Gruber, 2019. proposals for a digital industrial policy for europe. telecommunications
policy, 43(2), pp.116-127.
Hsieh, 2019. entrepreneurship through the platform strategy in the digital era: insights and
research opportunities. computers in human behavior, 95, pp.315-323.
Nazarenko, and et.al., 2022. applying digital technologies in technology roadmapping to
overcome individual biased assessments. technovation, 110, p.102364.
Ravikumar, and et.al., 2022. technologies driving digital payments in india: present and future.
in proceedings of second international conference on sustainable expert systems (pp.
71-78). springer, singapore.
Roscoe, and et.al., 2019. the microfoundations of an operational capability in digital
manufacturing. journal of operations management, 65(8), pp.774-793.
Sharonov, 2019. a business nature of security activity in the Russian federation within
application of information and digital technologies of property relations. in ubiquitous
computing and the internet of things: prerequisites for the development of ict (pp. 371-
378). springer, cham.
Tagarev, and yanakiev, 2020, may. business models of collaborative networked organisations:
implications for cybersecurity collaboration. in 2020 ieee 11th international conference
on dependable systems, services and technologies (dessert) (pp. 431-438). ieee.
Van esch, and black, 2019. factors that influence new generation candidates to engage with and
complete digital, ai-enabled recruiting. business horizons, 62(6), pp.729-739.
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