When technology is utilized at its maximum potential, it can be quite useful in not only creating a business but also improving its growth and productivity.
The roots of technology in today’s world do not end in the business arena, it has penetrated into personal gadgets as well. Mobile technology, including portable devices like laptops and tabs, used for personal usage, has saturated the market with their presence.
Regardless of the size of the business, small or large-scale, technology is helping them to grow and create a name in the business world. The presence of technology and the internet revolutionizes the whole business world.
A large amount of data is stored and transferred every minute by the businesses. Marketing and promotions over digitals media have become a standard for firms. It is not only more effective but also cost-efficient.
Here are a few ways in which you can make effective use of technology and the internet to enhance the brand position and business growth in 2020:
Businesses use the data analysis for developing marketing strategies. The most prominent example is the recommendation system of social media. Ever felt like seeing ads for things, frequently that you have been looking for (searching via a search engine)?
This happens because of the cookies left by the websites in the system. They collect data from the public, which is then analyzed by the data analyzers who are specialized in studying consumer buying behavior. This technique is used to see what trends according to the demand of people.
Accessing big data at full potential can help businesses grow efficiently; along with that comes many other benefits which like:
Cloud is a practical and convenient way of storing data. Before the step-in of technology in the business world, data storage was a huge problem; it either was unsafe or insufficient.
A big chunk of resources was used to manage it. Since the innovative cloud system has become a part of the business world, data storage is not a problem anymore. For terabytes to petabytes, Huge databases are maintained on a daily basis even with sensitive and confidential information, overcloud.
Sharing, transferring, and safekeeping of data has been entirely revolutionized by the cloud data storing system. The staggering implications of data storage are taking over the offline storage system including, system storage itself and other devices like USBs, Compact discs and drives.
Are you still using paper media and old school ways to market your business or product? Forget all that as now technology has taken over and has made lives easier by all means.
You can now sell and promote your business through social media and the internet. It is not only more effective but also consumes less time and resources.
Paid promotions and advertisements are a great way of increasing growth as it brings traffic to your business and creates a name in the business world.
Running ads on YouTube, Facebook, Instagram and other social media platforms will not only introduce more people to your business but also inform your potential customers with the upcoming products and services.
With social media promotion, your brand name is brought about in front of ordinary people, whereas with SEO, you can reach a targeted audience. Via SEO, optimization of your customer reach increases up to a great extent.
Emails, text messages and media training help in improving digital marketing strategies which can lead to a better approach in promotions and brand image maintenance.
Innovative technology has improved customer experiences all in all, which is becoming an incredible factor for businesses. With innovative technology, companies are better able to treat and serve their customers on time.
Virtual Reality is usually considered as an entrainment maneuver. It is much more than that. Nowadays, large businesses have been using VR to give their customers a walk-through experience of their new ideas which makes them get feedback for future evaluation and improve their status simultaneously.
Fashion Industry, Automobile industries and Console makers like Sony PlayStation have been using virtual reality to provide their customers with a life-like experience for their future launches and have been successful in fulfilling their goals.
Customer support is an essential part of any business. If you are not serving your customer right and on time, it is just not worth it. Using innovation like mobile technology and the internet can help in reaching your customer and resolving their issues, effectively and efficiently.
Chat heads on websites with an on-spot customer service representative is quite convenient for people to solve their issues as soon as they face any. It is an excellent option for people who tend to use the website for services like online shopping and product specification information.
Feedback is essential for growth. If you have sufficient knowledge of your performance, you can make a better evaluation and alteration of the procedure and strategies. Generate a feedback box on your website or online business page to get feedback, suggestions and reviews from customers to improve your performance and grow bigger and bigger. This is another way of smart data collection, getting to know your customers’ consumer buying behavior better.
Regardless of the nature of any business, communication is an essential key to better growth and performance. In the case of digital marketing and online store running, communication barriers are lifted.
Using innovative technology like the internet and social media, communication has been made more effective. You can deliver your message via text, voice, images and even videos. This brings more clarity and removes all kinds of ambiguities keeping the communication transparent.
Sometimes the transfer of information requires security and encryption for cybersecurity purposes. Advanced technology like RFID and other authentication methods can quickly secure your sensitive information until it is delivered to the right person.
For the information to reach the right person is not enough in business. Timing is quite important too. If the communication is not efficient, not only the internal business affairs are affected, but the customers and potential buyers also lose interest.
By improving your response timing and making communication more efficient, the production would catch pace as well as your customer service feedback would improve too, increasing consumer morale and brand image.
Online payments are a blessing not only for the business but for the customer as well. Previously there were security issues where people did not have confidence in online cash transfer due to problems like stealth and hacking.
The new seamless accounting program integrated by many businesses is providing reliable and useful online payment methods and record management.
Online systems and technological development have made payment methods flexible which benefits small to big, all kinds of businesses.
It reduces expenses of cash collection and prevents the stealth of money as well. Management of accounts and bills manually can be a chaotic and lengthy procedure.
Another benefit of this technology is enhanced customer experience. Online payments help customers purchase goods or services with a convenient payment method without having to deal with physical money transfer.
As customer experience improves, the image of the company develops. This means that not only the internal affairs are going smoothly, but the externalities are favoring the growth of the business too.
Annoyed with QuickBooks error 12007 and need to fix it ASAP? Examine this weblog till the end to get complete troubleshooting solutions. QuickBooks online login is a popular accounting software designed to help the small and mid-sized companies in their everyday accounting duties.
The software has a vast codebase which isn’t always without the technical system defects or bugs. Intuit fixes the present shortcomings of this system, and users can get a maintenance launch in the form of a new QuickBooks update. Whilst downloading or installing a QuickBooks update, you could stumble upon various technical errors.
Such traumatic errors are QuickBooks errors 12007, QuickBooks payroll update error 12007 or QuickBooks error code 12007. Those QuickBooks errors take the area within the center of updating QuickBooks or updating QuickBooks basic payroll service.
QuickBooks error Code 12007 takes the place of QuickBooks desktop now not being able to establish a connection with the net in your pc. QuickBooks error Code 12007 in particular happens as a result of general net connection failure.
There can be other possible causes including incorrectly configured system files. While these QuickBooks update troubles like “QuickBooks payroll update errors 12007” crop up, you may see an error message to your display – “QuickBooks has experienced an issue and needs to be shut down. We apologise for the inconvenience.”
QB error code can arise because of several possible reasons as indexed-below-
For diverse possible causes of the QB payroll update error 12007, you want to perform special troubleshooting strategies. Follow the solutions of their given-collection to resolve this QuickBooks error code.
Starting with net Explorer settings might prevent from appearing further steps. You may without difficulty modify the settings to recheck if the QB payroll update error 12007 is constant.
After performing this step, try updating QB to make sure that QB payroll update error 12007 is fixed.
If the first approach isn’t always effective in resolving QBs payroll update errors 12007, then try to determine whether or not security settings are preventing the updating. Look at the settings of Firewall, Antivirus software, and different parental control applications are not impeding a download of the QuickBooks updates. When configured effectively, you may get rid of QB error 12007 update hassle.
If the QBs payroll update error 12007 still exists, try the following method to resolve the error
Automatic is the function which has engrossed our lives as nicely the commercial procedures. And now breathing without this selection is impossible as the whole lot now has become automation courses. Imagining global without washing machines, vehicles begin automobiles, hi-tech cell telephones.
All these machines are alive and maintain significance due to the mechanism of computerized that’s caused in them via specialists.
The development has stretched its wings to resource diverse industrial techniques resulting in upliftment inside the improvement of the nation and a benediction for mankind.
The technology have given start to many types of equipment that have eliminated the usage of manpower and overall performance of these machines are adorned with performance, tempo, excellence, and less time-ingesting as properly.
Just roam in manufacturing plants and carefully watch the whole method from manufacturing to packaging. Factory Industrial automation companies equipments have largely dominated the present-day scene of the manufacturing corporations and are of excellent energy as nicely.
Elimination of tedious and repetitive works at the moment is feasible with the introduction of numerous machinery.
But the scene became totally exclusive previous to the business revolution, there has been only mechanization as the human part became completed with the aid of machines. The invention of pulleys and lifting machines which offer the evidence that considering very starting guys have lightened their workload by using introducing these easy machinery.
Bygone are the days whilst factories people must carry out the equal work infinite time which ate hours and even days. Besides efficiency turned into rammed as there are heavy duties which are past human capabilities.
But advancement in information and technology delivered in lots of adjustments which can be nicely contemplated thru the use of manufacturing unit automation systems which decreased the workloads of manpower. Automation has benevolently affected meeting techniques in factories. Material handling systems have substituted human useful resource with the performance, reliability, excellency, and speedy output.
To communicate approximately a few coping with systems, chain conveyor, and belt conveyor having the capability to perform work constantly and can produce maximum output.
Like modular workstations which engineering strategies to assemble large structures by means of integrating smaller subsystems. The compactness of those workstations have made them applicable in lots of commercial sectors.
Less space is fed on by them and they are able to suit in small spaces as nicely. Likewise, the development of those industrial automation equipments have additionally reduced the dimensions and made them compact.
The advent in Industrial automation course transcended revolutionary consequences that have changed the face of society and also non-stop reviving is also discovered in the productivity and on lifestyles.
Automation is to be credited for spreading extra productiveness, less time consumption, reduction in expenses of the products, as manufacturing in a big amount in price-powerful way and minimal time is now possible.
From the digital area to the verbal exchange sector to production flowers, the use of automated machineries is boldly highlighted but in such an influential era of machinery, human efforts and thoughts have no replacement.
It changed into a time wherein the industries were struggling to develop extra merchandise because of under improvement in technological elements, but now absolutely everyone can say that industries are suffering now.
Yes, some industries may be suffering, but most of the industries are nicely developed now and it is due to the improvement in technological components. Beyond manufacturing, Industrial automation companies in Coimbatore has made some impact within the industries and it is gambling a first-rate function within the Indian economic system.
The manner of automation has not simplest reached the producing industries, it has also reached well beyond it and even the evaluation of cells and tissues was done in much accuracy. Automate teller device, the cash withdrawal gadget is likewise an improvement in automation procedure.
This automation system gets properly evolved in the twentieth and 21st centuries and will also rework the world economic system from industrial jobs to carrier jobs.
Most of the people have a negative idea concerning automation such because it reduces the employment opportunities, however, it’s miles fake, in turn, it is giving more employment opportunities and additionally, has changed the economic boom globally.
Yes, automation has changed the general public lifestyles and some of the machines which you usually use are the inventions of the automation method and system.
The automatic washing machines have engine manage units and reduce the automated downtime and features also ate up less time for washing. The other instance is the automatic dishwasher you operate; it is also a development in the automation device.
Most folks by no means examine the things which can be the spine to the development of some of the techniques. In that way, the PLC and SCADA or we can say PLC SCADA is the fulfillment behind the automation industries.
They are the pleasant buddies to the automation industries, and PLC is an abbreviated shape for programmable common sense controller and it’s also known as a virtual computer systems.
It is called a virtual laptop due to the fact its miles used for the automation of many electro-mechanical procedures inclusive of control of machinery on a manufacturing facility, enjoyment rides, and lighting.
PLC is designed in this sort of manner that it is able to be used to control more than one inputs and outputs and also, you may manage high-temperature degrees. These manage gadgets are immunity to electrical noises and immune to vibration and impact.
You can program the PLC by using the use of application software programs on private computers. The device this is programmed by using the PLC is resistant to severe situations consisting of dust, moisture, warmness and cold.
So you have got made a machine with some programmable common sense, what is the subsequent thing wanted? You need to control that device and that feature is finished via the SCADA.
It video display units and controls the commercial strategies and when considering the hardware answers, it has DCS (dispensed control device) additives that are able to execute easy logical tactics with none involvement of master pc.
So without those automation ideas, commercial automation fails, in recent times many businesses are recruiting the people after which they train them by the PLC training in coimbatore. Many centers teach the PLC SCADA training in Coimbatore with precise recruitment facilities as well.
Jargon and technical names used for technologies could be confusing for an unknown. The ones with an IT background have to deal with superfluous sounding terminology which is often puzzled.
For instance, both Big Data and Data Analytics have one thing in common, they both deal in the field of Data but are different from each other.
Being in the information era, here exist huge sets of structured and unstructured digital data. This data is growing at a rapid pace and is getting doubled every second year.
The Tecshapers have used computing software and frameworks to resolve the digital data storage problem. Now the focus shifts to processing these huge sets of data.
Here arises the need for a new platform to fulfil the demands of an organization. This need is fulfilled by the implementation of Big Data & Data Analytics tools that are capable of storing and processing huge sets of digital data.
Let’s, sort out these two terms – what it all means and why it is important?
Big data refers to the collection and storage of the immense volume of structured and unstructured raw digital data.
The data is being collected through various channels like the Internet of Things devices, social media, mobile phones, etc. Owing to the high variety and volume of digital data, it requires more computing power and strong algorithms to process and store this data.
The collected data is then used to make a statistical-based decision.
Data analytics refers to the application of different sets of an algorithm that is capable of differentiating huge sets of digital data based on the reasonable correlation among data.
Historical data lying within the industries are now analysed to infer new statistical findings that may benefit the organizations.
Think of Big Data like an Internet that consists of huge sets of digital data. You switch to the Internet when you need some information to answer your questions.
And, think of Data Analytics as the page that you have opened from the search results. You can scroll through the page to find an answer to your question. This is the basic difference between these two terms of technology.
Big data is more focused on piling up digital data gathered through different channels. But Big data Analytics is much more focused on making the unstructured data useful, by sorting it to structured data. This helps the organization to make stats-based decisions.
Big data analytics need specialized software and algorithm, as well as high-powered computing systems to drive new findings. Big data analytics offer many business applications:
Big Data has already found its applications in various industries. Listed below are some examples of applications of big data:
Industries are using Big Data and Data Analytics to collect their industry-specific data and process them to derive industrial conclusions. Big Data and Data Analytics results are being analyzed to maximize industrial efficiency by taking a statistical-based decision.
Industries are using these technologies to make the most out of the digital data.
Artificial Intelligence (AI) is the process of enabling machines to think and act like humans by integrating human intelligence in machines. It also involves the study of benefits & applications of machine intelligence in the real world.
Many experts believe that AI could effectively disrupt the crypto trading industry by providing traders with actionable data based on a thorough and automated analysis of the historical trading records. These data can help closely predict the outcomes of future trade events.
Cryptocurrency trading is now a fully-fledged activity, followed by thousands, if not millions, of traders worldwide. All these traders are constantly looking for ways to improve their trading abilities and acquire better resources in order to increase the profits from crypto trading.
If you are one of these traders and wondering whether and how AI can revolutionize the crypto trading industry, this article is all you need right now.
For almost a decade now, organisations have been experimenting with the use of AI for crypto and digital trading.
AI, when integrated into traditional trading systems, can effectively automate the tasks such as data management, reporting and analysis. It can also use past data and trends to predict future trading trends and even results.
AI in integration with machine learning can even be programmed to learn new things from the available data and adapt itself to modern trends. This is particularly useful in data-driven industries like asset trading.
Artificial Intelligence learns new things based on data with the help of neural networks. Neural Networks are like connections within an AI-based system that enable the system to learn to perform a task by seeing/following an existing example. This removes the need to program the system and enables it to adapt to dynamic situations.
Neural Network is a term inspired by the neural networks in the human brain to suggest that these artificial networks work more or less the same way. Just like the human brain that can learn new things or tasks by seeing, neural networks in AI can also learn to perform a new task based on the information/data fed to them.
In the crypto trading space, neural networks can theoretically enable AI to develop & implement its own trading strategies by reading & analysing the available data to drive even more successful trade results.
Recommended Post : How AI will Influence the Travel Industry in 2020 and Beyond
In any kind of trading, automated bots or AI has an obvious edge over humans.
Humans take trading decisions based on emotions. Such decisions may be impulsive and taken in haste. On the other hand, AI makes trading decisions through proper calculation and in an automated manner.
Human-based trading works on a fixed schedule, and not round the clock. The crypto trading market using AI, on the other hand, can be open 24/7, which is certainly a more profitable option.
Since AI takes decisions automatically and based on data, it’s much faster than humans, who may tend to overthink things rather than acting on time.
Traditionally, the use of computers in trading has been limited. It’s because we always believe that nothing can replace human intelligence and emotions in a trading decision. And most of the time, we are even true. But who says that AI cannot make it better.
One of the reasons why human-based trading has always been able to give only limited profits is our very basic nature of making errors and also the humans’ need to sleep. Because we are driven by our emotions and have limited attention span, many times our decisions do not bring the results we want. And as I said above, humans, unlike machines or AI, cannot work 24/7 and need to sleep.
AI, on the other hand, can handle everything automatically, has zero probability of errors, does not need sleep and can even learn to grow itself. So, it’s obviously a better trading mechanism compared to humans.
Now, many people confuse AI trading with bot (robot) based trading. But, these are two different things. Let’s see how.
Bots are software programs that can be designed to do specific things. In the crypto trading industry, bots are used to automatically process trades based on the available data or trends.
Bots are only capable of automating a process based on the underlying instructions or program, but they do not have their own thinking capability and cannot adapt themselves to dynamic or changing market conditions.
AI, on the other hand, can automate a task as well as adapt itself based on the changing trends to achieve better results. Basically, it is designed to learn and adapt.
Since bots have limited learning capabilities, they are inferior to artificial intelligence and/or machine learning when it comes to learning & adapting themselves based on market trends.
If you are wondering where you can see the real example/s of a crypto trading platform that uses artificial intelligence to analyse and improve the end results, check out the Cowrium project.
Cowrium is a blockchain platform that consists of multiple projects or solutions based on real-world problems. For instance, they are building a system called the Cowrie Stability AI, which uses artificial intelligence neural networks to predict the market and suggest a solution based on the analysis of the previous trading data.
The idea is to enable traders to come up with a foreseeable solution through the deep analysis of available data. Thanks to the integration of ML and Neural Networks, the system can also adapt itself to suggest better solutions based on the market trends.
The Cowrie Stability AI system is still in the testing phase, and the real market scope and usability will only be known after the official launch (probably later this year).
There are a number of other companies that are experimenting with the use of AI and machine learning in crypto trading. The best examples include RoninAI (An AI-driven trading platform that delivers trading signals based on analysis of market trends), AiTrader.Ai, and AutoNIO.
But, as I said, most of these projects are under development or testing, and more about the actual impacts of AI on crypto trading will only be known in the coming future. Till then, let’s keep trading with the available tools and options.
A security analyst is a professional who specializes in researching and developing security systems. Security analysts are concerned with the safety of your business and may help with business decision making by assisting in risk assessment and prevention.
They are in a unique position to determine whether or not a security system is necessary for your business and what level of security you need to meet your own personal standards for your company.
Security issues will often overlap and relate to many other areas of information technology, especially when there is so much that needs to be covered. For instance, if you have security for computer systems, then security analyst may be in a position to monitor the machines as well as any inbound network access.
If you have a firewall, antivirus software, antivirus scanners, firewalls, and intrusion detection systems then they may also be involved in the monitoring of these systems as well. In addition, security analysts may also be in a position to develop a risk assessment for each type of system which will assist in the prevention of risk against future attacks and the development of new, viable security measures.
While most people are familiar with security analysts as those that watch out for security, a security analyst is a very different type of person. These professionals are responsible for helping to understand the characteristics of the business they are working on, how the data is stored, and for conducting research into the business and IT area.
This includes thinking about the security of the hardware used, the software used, the way employees communicate with one another, and how the employees interact with the outside world.
When you hire a security analyst, you will want to know that he or she will be able to interact with the employees and will be able to help with defining the objectives of the company and the goals the company has. You will want to know that the analyst will be able to clearly articulate the issues with security.
The security analyst should also be able to give you a list of areas of focus and should be able to describe the responsibilities and the duties that will be required.
You should also find out what sort of training a security analyst requires. If you do not already have security professionals working for you, then you will want to understand the cost involved before you choose the security consultant. You will also want to ensure that the consultant you select is the right type of individual for the job.
Identify how the security consultant you select will fit in with your company. It will be important to identify whether the consultant will be reporting to the head of the organization or whether you will choose to have them report to the security manager.
As long as this consultant can perform tasks that require that the security manager has knowledge of them, then they will be on a level playing field.
Employee attitudes and needs can be quite different from management requirements. You will need to find out exactly how the security consultant will interact with your employees. It is also important to understand how the consultant will interact with employees in management and in support positions.
It is important to understand the difference between technical security solutions and operational security solutions. These may be quite different and require different skill sets to be successful. You will need to ensure that the security consultant you choose understands the differences between these two elements.
It is also important to choose a security consultant that fits your company. Many times, the choice of a consultant comes down to a personal preference and where the consultant fits in with the team that is already in place.
Whether you choose an internal company security consultant or one that is working for you out of your home office, you will need to consider your needs and your ability to effectively manage the day-to-day activities of your staff.
When you select a security consultant, it is important to consider how much you will have to pay. For a home based security consultant, you may be required to pay for their time as well as for their services but you will likely also be responsible for equipment costs.
In addition, there will be various other costs that may vary depending on what type of security consultant you are working with.
When selecting a security consultant, you will also need to consider legal requirements. For example, if you have sensitive data on your server that you would prefer to keep confidential then you will want to work with a security consultant that has a good reputation and has met the legal requirements to work in your country.
You will also need to consider your own understanding of your legal requirement and identify the legal ramifications of using the services of a security consultant.
Running a business is no easy task. You have to manage a lot of things, including the store, website, customers, payments, and more. Having one or more strong and convenient payment gateways for your online/offline store can make things much easier, especially for your customers.
If you are looking to add a new payment gateway to your e-commerce website or brick-and-mortar business, you need to consider a number of things first, like which payment systems your customers prefer, support to currencies (digital, fiat, etc.), international payments, customer support, etc. Selecting the right payment gateway can sometimes be a daunting task, especially when you’re dealing with international customers.
If you’re having the same dilemma, here we talk about the top 7 payment gateways that you can include in your business right away for efficient, fast and cost-effective payment processing.
But, first thing first.
A payment gateway is an application that can be easily integrated with existing e-commerce or shopping store systems for securely accepting payments from customers.
A payment gateway will accept payment from a customer by verifying their payment information (credit card details, etc.), checking funds and processing to deduct the requested amount.
An ideal payment gateway system should be highly secure, fast and reliable. Here are some of the best options you can consider for your business.
When looking to select the right payment gateway, consider the following things:
PayPal is a global payment system that allows payments with merchants & businesses in more than 200 countries. This is one of the best options when you’re looking to do business transactions with international clients/customers. You can access PayPal through an online website, mobile app, etc. and use it for services like accepting/making payments, business loan processing, and more.
Digital currencies like Bitcoin are increasingly becoming a choice payment system of people in many countries. They are secure, fast and peer-to-peer, and most importantly, they are decentralized, so they work without centralized authorities like banks.
Lately, newer and more stable cryptocurrencies like CWR are making their name in the digital payment industry by allowing users to make secure, fast cross-border payments in a low-cost manner.
CCAvenue is one of India’s largest digital payment systems that accept payments through credit/debit cards (offline/online transactions) and many other options such as digital wallets, UPI, etc. (for online transactions). It can be used for both online and in-store payments. CCAvenue is presently used by over 100,000 local/online merchants worldwide. However, it does not offer the international payment facility, as of yet.
Razorpay is a popular payment system that is based in India and allows Indian businesses to accept/make payments worldwide, in many countries including USA, UK, China, Australia, Mexico, among others.
Compared to PayPal, Razorpay has some extra features like support for netbanking transactions, live chat support, recurring payments, etc.
PayU Money is one of the few payment gateways in India that offer unlimited services to merchants and users at zero setup or maintenance cost. The transaction fee is also among the lowest, and it supports all the standard payment options, including credit/debit cards, digital wallets, etc. Other notable features include SSL and two-factor authentication, easy to integrate, etc.
Google Business Wallet is a nice and secure application for merchants as well as users. It lets you store all your credit/debit cards and accounts in one place, load money directly to the digital wallet and use the same for making payments at both local and online merchants. The wallet is directly linked with Google Pay, allowing merchants to accept payments with this method. The payments are instant, and there is no transaction fee.
2CheckOut is an online payment processing service that makes a great alternative to PayPal, especially for freelancers and small businesses looking to make small transactions. You can use the payment gateway to accept online payments from a number of countries around the globe. So, it’s usable for individuals as well as businesses. The money transfer fee is, however, slightly more than other options.
When selecting a payment gateway for your business, make sure to consider all the factors that are important for your business. Ask your customers on social media which payment gateway/s they prefer the most. Also, you can find out the best payment service for you by assessing your company requirements, fees for different types of transactions, etc.
Since I have a passion for technology and traveling both, I thought why not share my insights on what happens when you combine both.
Artificial Intelligence, as you might already know, is an emerging technology. But what you might not know is that AI has proven to be a game-changer technology for the travel industry.
For instance, AI has helped lots of companies offer smart travel arrangements to their customers while streamlining their business processes along the way.
Just think about your last trip. Did you collect your tickets from the counter?
I highly doubt it. Instead, you might have scanned your ticket from your smartphone.
And that’s just one way AI has influenced the travel industry.
In this article, I have shared 5 different ways of how AI will influence the travel industry in 2020 and beyond that.
If you’re in the travel industry and looking for new ideas to take your travel business to the next level, you will most certainly find these ideas helpful.
So with that being said, let’s dive right in!
1 – Intelligent Recommendations
Today, almost all online platforms and services have incorporated intelligent recommendations feature.
Take Netflix or Amazon Prime for example. Both online streaming service providers offer suggestions based on what you watched and searched recently on their respective platforms.
Just like Netflix and Amazon Prime, online travel platforms like Booking.com and Expedia have also incorporated a similar intelligent recommendations feature where they offer travel-related suggestions based on recent searches.
Expedia, for instance, offers multiple accommodation options when you’ve booked or looking for flights to a particular city.
Similar to Expedia, you can also build and incorporate a powerful recommendations feature in your travel portal to optimize conversion rates and generate more revenue for your business.
2 – Intelligent Assistants
AI-powered chatbots have proven to be very helpful in the travel industry lately.
Today, many global travel platforms and brands have built their own custom, AI-powered chatbots to solve their customers’ queries and boost sales.
Skyscanner, for example, is a popular AI-powered chatbot that is helping consumers find better flights in Facebook Messenger since its inception.
While Skyscanner is just one example, there are many travel platforms that have built their own AI-powered chatbots like Skyscanner to cut through the noise and connect with their target customers.
For example, KLM Royal Dutch Airlines uses an AI-powered chatbot to respond to customers’ queries on Facebook and Twitter. In fact, they have trained their chatbot to answer over 60,000 questions and queries of users.
3 – Sentimental Analysis
Today, 90% of travelers share their experience, opinions, and photos on social networking platforms.
TripAdvisor, for example, receives 280 travel reviews every minute. And today, they have a vast pool of 435 million reviews from their 390 unique users.
This data can be quite useful for travel companies to improve their services. In fact, many travel companies have already started experimenting with Google Cloud Natural Language API to monitor their brand image in general and quickly take action on negative reviews and feedbacks.
Artificial Intelligence technology is capable of helping travel companies perform a statistical analysis of users’ online opinions and classify positive and negative reviews.
4 – Fraud Detection
According to a recent report, the travel industry and specifically Airline companies suffer the most from fraud and online scams every year.
This is why many travel companies have started implementing AI and machine learning technologies to help prevent illegal transactions.
Wanderio, for example, is a popular online travel booking company in Italy that has partnered with Pi School to integrate its fraud detection AI technology into Wanderio’s online portal.
Hotel Tonight, another popular hotel booking app from the US, has also created its own customized machine learning model to predict and detect frauds.
While such fraud detection AI technology is not widespread within the travel industry yet, but that number is expected to increase considerably in the year 2020.
5 – Enhanced Operational Efficiency
Artificial Intelligence technology also holds the capability to enhance the operational efficiency of travel companies.
For instance, Mezi’s AI-powered dashboard uses automation to help clients like Bluefish, American Express, and Casto Travel to respond quickly to their customers’ queries and requests.
Mezi’s AI technology basically allows travel agents to check users’ queries and use chatbots to update automatically in real-time.
And according to its report, it helps Mezi’s clients to increase productivity and output by five times.
In the coming years, more and more travel companies are expected to implement such AI-powered dashboards to improve their productivity and overall operational efficiency.
In today’s technology era, businesses need to continually evolve in line with the latest technologies. And from in-depth data insights to AI-powered automation, today Artificial Intelligence offers many opportunities to businesses in the travel industry
In fact, mobile app development companies also agree to the fact that in the coming years, artificial intelligence will definitely help travel companies to drive more operational efficiency and improve customer experience.
The sales department happens to be one of the most crucial industry verticals throughout the history of economic activities. It has also surfaced as the primary business function for many establishments that engage in the only distribution of products and services exclusively.
As a result, the entire business management philosophy gets altered with more and more attention being put into the mobility of human resources. A significant portion of its employee strength is comprised of sales associates, and they are expected to travel in the market for the achievement of targets.
Since the territory may or may not be fixed, their performance can not be evaluated on the basis of conventional models of assessment. Therefore, Performance Management Systems with mobile integration will prove to be disruptive in this domain, and we will have a look at the pros of using one.
Studies pointing towards the need for modernization of performance evaluation:
In of the recent studies, it was found that having a concrete territory design will increase the sales output by a considerable 30%. while another study found that talent retention in sales cadre needs proper incentive structures. Both of these can only be achieved if the sales staff is monitored even in the market.
Currently, almost everybody uses smartphones which can be used as a tool to capture work details and manage the employees without any inconvenience or added cost.
If the work is recorded on a real-time basis and processed by computerized systems, a realistic view of the ground situation is available to the company while on the other end, the salesmen find documentation extremely difficult and unnecessary.
This gap is bridged by mobile-based Performance Management Systems with significantly low cost of operation and high customization capabilities. Let us view some of the great advantages of the same.
Every sales firm aspires to manage its employees continuously and monitor the activity of each staff member. Their locational data is tracked by using the geo-tracking feature of the mobile app. This is also accompanied by parallel work reviews where the employee is asked to give reports in the form of simple reviews.
They have to rate the call upon various parameters and note the highlights along with the time duration, prospectus revenue, and in-bound payment details. This allows a better flow of information with the help of the mobile app, which eliminates the requirement of cross-checking and also enables on-field support for document transfer.
The companies engaged in the product/service distribution have high attrition rates, and high employee turnover has a significant impact on the business. The client database is extremely important, and accessing it is vital for the new employees.
Having knowledge of the past dealings in terms of business revenue, contact person, client’s spending patterns, a convenient time for the meeting, and seasonal fluctuations. With the help of real-time service, reporting will enable smooth data acquisition and compiling it on a central database will improve the future servicing along with reducing the effect of employee turnover.
Many of the companies have mapped and unmapped territories to be distributed amongst the sales force. This entire network is to be assessed for complete control over efficient. If a sales associate visits a client previously visited by another executive, then it may hamper the closing of calls and damages the reputation of the company.
The network analysis also allows in the proper generation of records for performance reviews. The company can utilize this data for promoting the employees based upon their rapport with the clientele and within the organization. Mapping of territories and client assignment reduces the clashes between the staff while boosting accountability.
Where the mobile app-based Performance Management Systems are considered, the significant benefit for the employees is the access to extensive reports which provide personalized data. The employee’s working patterns, hours, routing, scheduling, closing ratio, weaknesses, competencies are calculated on the basis of the data input from their smartphones.
As there is no need for analysis by a human supervisor, the employee can use this functionality for self-assessment and professional development also. However, the information can also provide comprehensive inputs for target projections and pipeline revenue and MTD-YTD figures.
If your staff does not work from a single location, neither should your employee evaluation method. The mobile-based solutions have emerged as game-changers in the performance management software industry when a sales channel is concerned. The affordable internet rates and access smartphones will play a pivotal role in the success of their implementation in the business dominion.
Most of the MNCs and corporates have started using them and its high time for small and medium scale firms to implement these solutions if they want to keep their organization relevant to the market. However, these tools are for strategic management and not to be considered as mere providers of appraisal data. Every company engaged in distribution will surely witness higher revenue with optimized overheads, making it extremely beneficial to business objectives.
Shy Lee is an Associate Digital Marketing Manager at factoHR, an India based HR, and payroll software solution providers. She is a creative marketing strategist with over 8 years of experience developing digital marketing strategies and guiding business development.
Many businesses find it convenient to use Mac OS for their business operations as it offers them robust features and great user-interface. Some of these businesses also use QuickBooks for their accounting and bookkeeping needs.
Although it may seem like the Mac version is designed to serve the same functionality as the Windows version, many critical features are absent from it. For example, features like sync manager and web connector are sourly missing in QuickBooks for Mac 2019.
Moreover, Intuit has also discontinued QB Desktop for Mac 2016 due to its underperformance as compared to QB Windows.
However, in the year 2019, QuickBooks for Mac has still got many users and they need better features in their QuickBooks.
But what if we say that you can now use all the features of QuickBooks for Windows on your Mac device?
Wouldn’t it be exciting?
Well, yes, it is and it is only made possible because of Parallels Desktop.
Parallels Desktop is an application in Mac OS that allows users to use Windows on Mac. It creates a virtual machine that allows you to install any OS on your computer. Using Parallels Desktop, you can run any Windows-based applications on your Mac.
All the features of QB for Windows are now available on Mac. What remains untouched is the top-notch tech support for anything from a minor technical error to QuickBooks Mac upgrade.
If you use QuickBooks for Mac 2019 and wish to install Windows using Parallels Desktop, read below.
Here are the steps that will help you install Windows OS on your Mac.
Now that you have installed Windows on your Mac, install QuickBooks and you are all set to have the most amazing accounting experience. You will still have elite QB support for any technical and functional error or QuickBooks for Mac upgrade. You are now ready to enjoy the efficiency of QuickBooks for Windows without having to leave the convenience of Mac.
In case you need any help with your QuickBooks for Mac 2019, just call the certified experts of QB and they will get you through the problem in no time.
When it comes to storing all your accounting data, QuickBooks for Mac is no doubt, the best. Countless copies of invoices, track sheets, and other accounting documents are generated by Companies to be stored in iCloud and their system. This is possible only because of QuickBooks integration with iCloud that allows QuickBooks to sync all the documents without bothering a bit to your real-time workflow.
Here are a few more things you must know:
Once you know about the software you are using, it would be the easiest to use it and sync all your documents with iOS. If you are doing it yourself, follow the below steps for installation and upgrading your software.
If you do not want to risk it, call our QuickBooks support phone number and our team of experts will help you with that.