How important is technology for a successful Business?

We are in the internet era or popularly known as the web 2.0 generation. Today, even a child as young as 2 knows how to play videos on YouTube. Technology is very important for everybody. Mobile phones and computers have become a basic necessity (Hence, we spend more than half our day with them.). Today, we will discuss, how important is IT or information technology for the success of a Business?

Technology helps a business to operate efficiently and quickly. It helps to gather information, store them and analyse them to make important business decisions. For every business its decision making is the key to its success and by just using simple tools like excel or word, you can analyse the data for smarter and quicker strategies.

Technology also helps to communicate effectively, no matter where you are. Through Skype, video conferencing calls, phones and emails. You can share data and talk for better and clearer communication for better business functionality.

Technology also helps to save cost and more importantly time. Now, we can use emails and cloud based storage to share files from one part of the world to another. Through conferencing calls we can attend a meeting anywhere anytime, without actual needing to travel to the actual site.

Even for hiring candidates, technology helps in screening their CV’s, finding and downloading their CV’s and conducting interviews immediately, for urgent hiring situations. This is very useful during emergencies. Due to technology, tests for personality assessment, testing analytical skills and other useful skills, has become very easy. A few tests and the scores reveal the true potential of a candidate. Hence, if a business uses technology in an effective manner, it can not only survive but grow at a phenomenal rate.