Research Report: Digital Technology Impact on Unicorn Business

This research report investigates the impact of digital technology on the operations of a small to medium-sized enterprise (SME), Unicorn, a UK-based retail organization. The report begins with an introduction outlining the importance of digital technology, such as cloud computing, social media, artificial intelligence, and big data analytics, in modern business. A literature review explores the use of these technologies and their effects on businesses. The report includes an aim, objectives, and rationale for the research. The study analyzes the impact of digital technology on Unicorn, focusing on the benefits of cloud computing and social media for data storage, promotion, and understanding customer behavior. The report also discusses the advantages and disadvantages of digitalization, recommending the use of big data analytics and social media for Unicorn to gain insights, improve customer service, and innovate. The report concludes with an overview of the research methodology, data analysis, and proposed activities and timescales for the research project.

Research Project

Table of Contents
INTRODUCTION...........................................................................................................................1
LITERATURE REVIEW................................................................................................................2
Activities and timescales..................................................................................................................4
Research methodology ....................................................................................................................6
Data analysis ...................................................................................................................................9
CONCLUSION .............................................................................................................................18
REFERENCES..............................................................................................................................19

INTRODUCTION
Digital technology has revolutionized the operations of business. It has dramatically
modified business model over the last decade and transformed activities of business. With the
use of digital technology in the business a wealth of choice and opportunity is being provided to
the 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 gain
more profit and expand their business, these technologies are used by most of the organisations
today. Over the past, many researchers have conducted research on the use of digital technology
in business (Tuten and Solomon, 2014). Through research that was conducted in the previous
time, one can gain knowledge about what all are the benefits of using digital technology in
business. In this current research, the researcher will conduct research on the impact of digital
technology in the SME organization such as Unicorn. The use of digital technology have helped
the organization to bring innovation in their company. Unicorn is small-scale retail
organization in the UK. In this report, literature review will be given on the impact of
digital technology. At the end of this report, a conclusion will also be drawn. Impacts of
digital technology on the small enterprises and businesses can be understand by this report
because 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 business
 To evaluate the impact of digital technology in Unicorn
 To analyse the benefits of using digital technology in business firms To recommend the digital technology that can be used in Unicorn
Rationale
There are number of reasons for which this research is being done. One of the reasons in
this context is interest in this area. In order to conduct this research, I have personal interest as it
will help to develop my understanding towards the use of digital technology that is used by
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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 so
that this research will be done effectively and efficiently (Vaioleti, 2016). So, in context of this
research, I will be able to develop skills and gain knowledge about different types of
methodologies in research. Also, I am also looking forward to pursue my career in the retail
sector. Through this research, I will be able to understand the use of these technologies in retail
sector and also benefits that are given by these technologies in the business. Furthermore, this
study will also help to gain understanding about what all changes need to be brought in
organization to fulfil the expectations of both; customers and business.
LITERATURE REVIEW
Different types of digital technologies that can be used in the business
According to Hays, Page and Buhalis (2013), in the business, the different types of digital
technologies can be used. The digital technology such as cloud computing can be used by the
companies 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 store
information on one cloud and also, implementation of cloud-storage is not so costly. The
flexibility to the employees will also be given as at any time and anywhere, they can access the
data. The only need of cloud-storage is internet. Contrary to this DeMers (2014) , the other
digital technologies that can be used by business firms is social media and mobile phones. The
social media platform such as Facebook, Twitter and YouTube can be used by the organisation
in 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 use
of mobile phones in the business helps to stay in touch with people that are residing in other
countries. Thus, the business firms can discuss about the time and place where meetings need to
be held on the phone and also, they will stay in touch with the business even after office hours
with the use of mobile phones.
As per Eagleman (2013), Now-a-days, new digital technology such as artificial
intelligence is being used by the companies in order to predict the behaviour of customers. This
technology will help the companies to bring innovation in the company by fulfilling needs of
customers. The big data analytics can also be used by the company in order to store a large
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amount of data. This data can be extracted from various sources. In the organization, it will help
to gain information to better support their company and serve their customers.
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The impact of digital technology in Unicorn
According to Shen and Bissell (2013), in Unicorn, the digital technology such as cloud-
computing will help to store all data and information that is related to customers and employees.
Also, with the use of cloud storage, a lot of time of Unicorn will be saved as they need not to
update data as it will be done automatically on the cloud. In case of fire or any other issues at
workplace, backup will be available as the data will store on the cloud. The cost of implementing
this digital technology is also not so high and also the greater flexibility will be given to the
employees. The positive impact on business can be brought with the use of social media in t
business as Unicorn will be able to conduct promotion of the products and services that are being
provided by them. As per the views of Parsons (2013), with this, the customers will be able to
know about what all products are being offered by this company. This media will also help
Unicorn to find out the purchasing behaviour of customers. Based on that, the services can be
given to the customers. In Unicorn, artificial intelligence will help to gain insight knowledge
about the needs of the customers and on the basis of same products and services can be given by
the company. Also, in a way all these digital technology will be useful in the business to bring
innovation and to bring positive impact on the business. For micro industries, there are
various digital ways which they can exercise to be reasoned in the identical mentions as
macro industries. Its effect on operational costs, better communication, accrued
productivity, extend customer bases and cooperation. Micro organizations are mostly used
technical means in their planning process to increase more profit and result. Owners of the
industry can also effort application to make secured situation for keeping delicate
enterprise or consumer portion. Many types of business application or software system
programs are user-friendly and license commercial enterprise owners with only major
aspects in substance technology to make the most of their ways and characteristic. This
license to owner to create transactions using the most developed technology convenient.
Technology has altered the organization demeanor care by sanctioning micro businesses to
level the activity tract with macro organizations.
Benefits of using digital technology in the business firms
As stated by Tiago and Veríssimo, (2014), the benefits of making use of digital
technology in business are many. The first benefit is that it will help SME organization such as
Unicorn to expand their business on a bigger platform and also, the satisfaction among the

customers will be more as the company will be offering products and services as per their likes
and dislikes. This in turn will increase the sales performance of the company. The use of cloud-
computing and mobile phones will be useful in the business as it will provide flexibility to the
employees. The employees can access information from anywhere at any time with cloud-
computing and also, they need not to make any efforts to keep the data up to date of the
customers as it will be done automatically in the cloud-storage. The numerous benefits are being
provided to the business with the use of mobile phones as with this they can communicate with
customers anywhere across globe. So, the advantages of making use of digital technology such
as cloud- social media, mobile phones, etc. are many. This will help company to grab more
number of customers and to increase their sales performance. ADVANTAGES such as Small
town will get a possibility to find new things through adeptness of digitalisation. All trading
operations would be crystal clear. Online work portal sites will cut down the vocal. Indian
micro towns will be benefit the most as with the kind of digitization they would be granted
with more of primal amenities. With digital lockers, organization can keep papers safely
stored. Anticipation of failure would be flexure. DISADVANTAGES : Government
occupations might decrease which in turn may path to civilian persons' ferment. People
will use free wifis just for time pass which is actual scenario in metros.
Apart from these, digital marketing can ambit targeted customers more effectively,
Internet Marketing organ direct results and value effectual as well, it can extent a deep or
even Global Masses. Disadvantages reckon Cyberspace merchandising drives can be
derived, Bender recessed by too much online Ad Jumble, Not be appropriate for the
products, Concern high level of competition, Marketing honor can be injured by ruinous
response, It is extremely based on Applicable theories which can be disposed to shift, is not
yet clutch by all groups. The conclusion is mensurable and can be personalized, it also
helps in built relationship with customers and vantage the power of social media.

Recommending the digital technology that can be used in Unicorn
As per Hays, Page and Buhalis (2013), Unicorn can make use of digital technology such
as big data analytics in the business. By making use of term big data, the large volume of data is
described. With use of big data, Unicorn can present the both; structured and non-structured data.
By the organization Unicorn by various means a large chunk of raw materials can be gathered,
stored and analysed. At the workplace, this will help them to increase their efficiency and to take
better decisions. Big data can be in both the forms, that is, structured and unstructured. Unicorn
can make use of big data in their business to gain more information to better support their
company and to serve their customers.
The large volume of data can be gathered by Unicorn from the various sources such as
business transactions, social media, etc. and based on data gathered, the company can predict the
customer buying behaviour. Based on same, the services can be given. It is also recommended
that Unicorn can also make use of social platforms in the business. The cost and time needed to
conduct social media marketing are also less. With the use of social media platform such as
Facebook, twitter, etc., company can conduct promotion of its products and services and increase
the number of customers for their company. Feedback that is being given on this social media
platform will help company to improve its services. So, both of these digital technology that is
big data analytics and social media platform will be beneficial for the company in the future
coming years and will increase customer satisfaction. Company will be able to develop
innovative products and will gain competitive advantages from the rival companies.
ACTIVITIES AND TIMESCALE
Activity 1th
Wee
k
2nd
Wee
k
3rd
Week
4th
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5th Week 6th
Week
7th
Week
8th
Wee
k
9th
Week
10th
Week
Finding
the topic
of
research
Conducti
ng the
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literature
review
Writing
of
methodol
ogy
Finishin
g
Proposal
Designin
g of the
question
naire
Carrying
out
Research
Data
Analysis
and
Making
Graphs
Discussi
on and
Conclusi
on
Editing
of Final
Report &
Completi
on
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RESEARCH METHODOLOGY
It is an essential aspect as it will help to conduct the research in an efficient way. In order
to carry out this research, there are different types of techniques and methods that are being used.
For the topic of research, this will help to develop in-depth understanding. The following are the
research methodologies that will be used in this research. They are as follows:
Research Approach – With the use of research approach aims of the resreasch are being
focused that are set by the researcher. Inductive and deductive are two types of research
approaches that can be used in any research (Smith, 2015). In order to carry out this research, the
inductive approach will be used as it will help to gain insight knowledge on the research topic
and also, through this, approach one can be able to understand theories and models that are
related with research topic. There are four main formulations in research the project. Such
as quantitative, qualitative, programmatic and advocacy approach. Quantitative research
is mostly attendant to the empiricism model. It normally concerns grouping and alteration
over accumulation into numerical form so that practical mathematics calculation can be
made and explanation out drawn. Qualitative research is the conceptualization usually
related to with the social constructivist paradigm which grade the ethical idea nature of
reality. The pragmatical formulation to tract of study anxiety using the method which
appears to be the best suitable to the research problem and not getting caught up in
humanities moderates about which is the best formulation. As they captive to proceeds
about favourable modification in the lives of the research subjects, their preparation is
former represented as liberate. It is not an amoral attitude. To some degree, researchers
determine a democratic formulation spirit that the conceptualisation to explore
represented so far do not act to the needs or positions of people from peripheral or
undependable groups.
Research Philosophy – By making use of this, one can conduct proper investigation on
the issues that are related with research. The interpretivism and positivism are two types of
research philosophies that can be used in the research. In order to pay attention on the objectives
that are being set for this research topic, the interpretivism research philosophy will be used. It
includes three types of methods in research philosophy such as ontology, axiology and
epistemology. Ontology is mostly based on nature of realness. The based of its
categorization is object and subject. Object is obsessed with the orientation that social
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objects prevail in realness outsider to ethnic actors. Secondly, subjectivism is obsessed on
the social phenomena which are come out from the conceptualisation and consequences of
those ethical actors preoccupied with their existence. Epistemology is appreciated about the
adequate knowledge of a particular field of survey. It can be separated into two
components such as origins investigator and opinion researcher. Furthermore, positivism
works on numerical discoveries and accordingly statistical inquiry is adopted. The core
property of realism is anxiety to uncover the reality of actuality and the existence of the
purpose are prevalent immunity in the human brain. Realism is classified as critical and
straightforward pragmatism.
Research Design – For any research, it is being considered as the blue print of research.
The descriptive, exploratory and experimental are the three types of research designs that can be
used in any research. In this research, the descriptive design will be used as the scholar does not
have in-depth understanding on the research topic. With the use of this design in this research,
the scholar will be able to gain in-depth understanding on the research topic, aim and objectives.
Data Collection- Through this, the researcher will be able to collect data from various
sources. Mainly, there are two types of data collection methods that can be used in any research.
They are primary data collection and secondary data collection methods. For the first time, the
data being gathered in the primary data collection and the various sources are interview and
questionnaires. In the secondary data collection,data is gathered from before and the various
sources can be articles, newspaper, internet and many others. In order to conduct this research,
both primary and secondary data collection methods will be used (Research Methodology, 2017).
By making use of questionnaire, the primary research will be done. To conduct secondary
research, various sources such as books, journals, internet, etc. will be used.
Sampling – It is not possible to make analysis of the entire population and so, the sample
size will be selected for this research (Anney, 2014). The non-probability sampling will be used
by the researcher in this research. As per the preferences of researcher, it will enable to select the
sample. In this, the sample size of 20 managers of Unicorn will be selected who will provide the
adequate details about impact of digital technology in their company. The questionnaire that is
made will be distributed among these 20 managers and their responses will be recorded.
Sampling process include various stages to be completed such as first is to define the
population which should be reckon, second is to specifying the framework of sampling that
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which kind of sampling will be done, third is to determine the sampling method, fourth is
to determine the size of sampling, next is to apply the sampling programme and last is
sampling and data gathering. There are contrastive benefits or limits of sampling method.
Benefits such as it centring on the subpopulation, dismiss the irrelevant components, use
different methods for different demands, better the efficiency of approximation and greater
balancing of quality of tests.
Data Analysis – In order to conclude the appropriate outcomes, information that has
been gathered need to be analysed. There are mainly two types of data analysis methods that can
be used in any research. They are qualitative and quantitative data analysis. In order to conduct
this research, the qualitative data analysis will be used as it will help to gain proper
understanding on the research topic and also, in this research, there is no need of calculation or
mathematics, etc. So, for this reason, the qualitative data analysis will be used. The thematic
style will be applied to the qualitative data analysis in order to represent data in the form of
charts. Data analysis is the necessary component in research a project because these are the
factors which provide high scope of assist to the organization. It is the procedure of
measuring the data by using various approaches and methods to analyze the each section of
data which is provided. It is required to analyzed the data because data collected from
various sources. There are contraceptive tools of data analysis such as tableau public, open
refine, KNIME, rapid miner, google fusion table, NodeXL, Wolfram Alpha, google search
operators and solver. These all are the tools to analyzed data.
Ethical consideration – During this research the right to freedom was given to each respondent to
present their viewpoint regarding the research topic (Hays, Page and Buhalis 2013). Also, the
right to privacy was also followed as no information about any respondent was given to other.
And also no such content was used in this research that could cause harm to the people that are
taking part in this research.
CONCLUSION
Thus summing up the above report it can be concluded that today the business have being
revolutionized with these use of digital technology in the business. More and more companies
are making use of digital technology such as artificial intelligence, social media etc in order to
expand their business and to generate more satisfaction among the customers. The company
Unicorn need to make more use of digital technology as it will help them to grow their business
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and to gain competitive advantage from rival company. This company can make use of big data
analytics in order to store large amount of data from various sources. This technology will help
to make efficient decisions and will serve the customers in a better way.
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REFERENCES
Books and Journals
Anney, V.N., 2014. Ensuring the quality of the findings of qualitative research: Looking at
trustworthiness criteria.
Eagleman, A. N., 2013. Acceptance, motivations, and usage of social media as a marketing
communications tool amongst employees of sport national governing bodies. Sport Management
Review. 16(4). pp. 488-497.
Hays, S., Page, S. J. and Buhalis, D., 2013. Social media as a destination marketing tool: its use
by national tourism organisations. Current issues in Tourism. 16(3). pp. 211-239.
Parsons, A., 2013. Using social media to reach consumers: A content analysis of official
Facebook pages. Academy of Marketing Studies Journal. 17(2). pp. 27.
Shen, B. and Bissell, K., 2013. Social media, social me: A content analysis of beauty companies’
use of facebook in marketing and branding. Journal of Promotion Management. 19(5). pp. 629-
651.
Smith, J.A. ed., 2015. Qualitative psychology: A practical guide to research methods. Sage.
Tiago, M. T. P. M. B. and Veríssimo, J. M. C., 2014. Digital marketing and social media: Why
bother?. Business Horizons. 57(6). pp. 703-708.
Tuten, T. L. and Solomon, M. R., 2014. Social media marketing. Sage.
Vaioleti, T. M., 2016. Talanoa research methodology: A developing position on Pacific research.
Waikato Journal of Education. 12(1).
Online
DeMers, J., 2014. The Top 10 Benefits of Social Media Marketing. [Online]. Available through:
<https://www.forbes.com/sites/jaysondemers/2014/08/11/the-top-10-benefits-of-social-
media-marketing/#2a7379eb1f80>
Research Methodology, 2016. [Online]. Available through: <https://explorable.com/research-
methodology>
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