With current events concerning Brexit and Trump, the world economy looks insecure and uncertain, if not precarious. Nobody knows how global factors can influence and affect you even if you own a local business. You can be a farmer somewhere in the rural area or an IT staffing company in New York, however, everything can impact the success of your business.
Let’s have a look at the bigger players and what they are worried about in their businesses. Study this useful information and use it to prevent those things from happening to your own company. What are the prospective pitfalls of 2017 and what you should do in order to avoid them?
A great number of businesses have already agreed that automation is the potential source of their company security unease. With so many automated machines, manual labor jobs are becoming more and more vulnerable. More than that, the advancement and development of artificial intelligence (AI) and technology may result in the fact that thousands of professionals get vulnerable to becoming useless and obsolete.
How can you find the golden mean? You don’t need to hire a full-time secretary to answer customer calls. Use this money to employ another customer service representative or salesperson as these are the jobs automation can’t handle yet. Such improvement can facilitate your work and help your business grow and expand much faster.
Don’t worry if you have recently set up your business and don’t have enough funding for such innovations. It’s time to think of your business plan for funding your firm. There are quite a lot of ways to get your business funded in 2017 and invest in your future success. Consider business fundraising advice and ideas. Make your own research and choose the most suitable option.
Plenty of people worry about the protection of their client information and internal data, so it’s better for you to think about this issue as well. In most cases, big companies are the first to be hacked with their information compromised. However, start thinking about security in advance, before it’s too late.
You should use preventive actions for your data protection. For example, installing an SSL (Secure Sockets Layer) certificate for the company website, encrypting data on servers and fulfilling a data protection policy for your workers are all significant steps. Even if your business is currently small and you don’t have a lot of private customer data, it’s always better to prepare and be ready in case your firm is hacked.
It’s essential to stay up-to-date if you want to be a successful entrepreneur and develop your business. Technology is constantly changing, so make sure you keep pace with this progress. The speed of data creation is accelerating, which makes even top executives worry about their ability to keep up with constant changes in big data. You are the winner if you have the right analytics system to process all this data and select the most important bits.
You may consider hiring a data engineer or an analyst to deal with data. In case your company isn’t big and stable enough to hire and support such a person full-time, don’t hesitate to outsource this process to any company that specializes in this field. Nowadays, there are lots of such businesses out there.
Business intelligence can include various things. But updates and real-time information are definitely one of them. It’s something you should be aware of if you want your company to be on top and improve. Take some time to analyze and determine the biggest business intelligence priority for your company and turn 2017 into a year of success and breakthrough.