The Picker: An E-Business Report

The Picker: An E-Business Report
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The Picker: An E-Business Report
Electronic business (E-Business) uses digital information and communication technologies to optimize and support business procedures. It includes conducting business processes through the internet, extranet, web, or the intranet, and individuals can buy and sell goods and services through commercial transactions conducted electronically (Saura et al.,2019). In addition, that customer and technical support can be given with the aid of the internet. It encompasses a broader range of business processes, including customer relationship management, Business Intelligence, Supply Chain Management, Enterprise Resource Planning, among others (Saura et al.,2019). These are becoming increasingly crucial as more companies' sales, marketing, and other internal business procedures are carried out. This report discusses digital technologies in innovation and business transformation, how business processes can be improved using these digital technologies, how database systems can accommodate changing business needs, and how disruptive technology can potentially affect business transformations.
The internet, for over 20 years, has been transforming businesses. Most businesses, buyers, and sellers have shifted to the web user to conduct business activities (Duarte et al.,.2018). There are several factors as to why customers and businesses have moved from offline to online business activities. Customer service enhancement is one of the main factors influencing online business growth. MYDRONE, with its invention of a drone that can provide personal assistance, has catered for this factor. This drone, with its extension, can take selfies and has an umbrella, and there is room for the addition of more features according to the target customers. Customer satisfaction is critical as it determines the success of the product. Satisfied customers might repeat the purchase or even market the company’s product if the service they will get exceeds their expectations (Duarte et al.,.2018).
The digital business has provided an opportunity for cost reduction and time-saving, which is crucial in online businesses (Duarte et al.,.2018). For example, browsing catalogs through the internet saves time compared to the traditional form of conducting business activities. The elimination of the time required to go to the store is a motivating factor to run businesses online. It also reduces stress and costs incurred in conducting business offline. MYDRONE has catered for the cost factor in that there will be model customization as per customer requirements, and a variety of models will be available.
Building an online business requires specific strategies which are crucial in the success of the company (Grover et al.,.2018). One of these strategies is conducting thorough market research, which includes learning what the target market lacks, needs, or lacks. It helps in determining the profitability and competitiveness of the selected business. It also helps in determining the pricing, demand, and validating the product idea. It includes looking at the competitors, choosing the marketing and selling methods, and determining their strengths and weaknesses. MYDRONE has conducted market research, and it has identified that there will be stiff competition as there will be competitor products made entirely overseas with lower labor costs, which implies the prices might be lower too.
Another strategy when building an online business is identifying a niche or the company's primary focus area, which can be a specific market segment or a target audience to which the online business will cater. It can be anyone from professionals to young children. In identifying a niche, one has to consider a need that is not being satisfied or solved well enough, the willingness of the target audience to pay for the solution to that problem, and whether they have the income to afford the solution (Grover et al.,.2018). A company should avoid any online business that does not meet the criteria mentioned above. For example, they cannot sell products that the target audience does not want, cannot afford, or are not interested in.
Also, a business needs to build its unique brand when building an online business. The brand helps in capturing the customer's attention, breakthrough, and stand out among other companies. A company has to consider its missions and values in the branding process, unique from its competitors and better than everyone else (Grover et al.,.2018). Once the company has an ideal picture of its brand, it can use it to drive the visual brand identity and brand design. A business will need key brand designs such as logos, business cards, packaging, and a website, among others. These elements constitute the brand identity, and they help communicate to the customers and air the brand message to the world.
Another strategy when building an online business is creating the company website, arguably the most vocal element in the brand identity. The target market will learn about the products and services and decide whether they want to carry out business (Grover et al.,.2018). When building an online business, one has to consider certain things, like making the website responsive-customers can view it from a mobile device and a desktop. It should look just the same as it does on an iPhone as it does on a MacBook. Additionally, the purchases should be made simple. For example, product categories should be made simple such that customers can access what they are looking for in easy and quick steps.
Furthermore, the company has to take keen care of the legal side of the online business, which includes filing the appropriate legal paperwork to register the business and ensure that it is legally compliant (Grover et al.,.2018). Also, the company has to set up a business account where all business transactions flow through because business transactions and personal finances should be kept separate. Besides, one has to talk to a certified accountant about the company's tax responsibility, whether there will be a need to charge sales tax, how often to pay taxes to the authorities, and the tax paperwork needed to be filed. Finally, before launch, the company has to make sure that the logistical strategies related to the online business are in place.
Many companies have been touched by technology. Most notably, big data and machine learning are giving way to automated robotics, quick transfer of information, and other exciting gadgets (Huang et al.,.2018). Some of the main reasons for these technologies are that they provide customers with a fantastic experience by assisting live employees, data management, privacy, security, and instant communication. The following technologies are vital in ensuring employees are satisfied and remain prosperous.
* Artificial Intelligence (AI)- This technology helps in giving an inner perspective in customer preferences and tastes, which acts as a guide in the company's marketing campaigns. It also aids in the transfer of data management operations which helps in improving performance and also provides for automation of business processes. AI also gives recommendations of relevant and valuable information on products and services to customers since it can accurately predict customer behavior patterns (Huang et al.,.2018). Furthermore, AI helps businesses target potential past, existing, and future customers by looking at data such as a past-specific history. AI offers insight into customer behavior patterns which help in advertising campaigns and automate communication.
* The Cloud- Most successful businesses have at least one aspect of their business posted on the Cloud. Maintenance and processing of data in the Cloud are critical for everyone who needs to access it instantly, on any device, despite their location. In addition, cloud Enterprise Planning (ERP) can significantly improve speeds, make the business store more adaptable while at the same time bringing stability and growth within the company.
* Chatbots- Due to their wide range of availability, they have become widespread online business applications from their limited use just a few years back (Huang et al.,.2018). Chatbots provide several services and solutions, which include:
* 24/7 assistance- They are available during the day and night to respond to any customers' questions. This auto...