Scientific research and technological innovation are perhaps best appreciated when they work towards a common good and go a long way to benefit a whole gamut of communities. In other words we can say that meeting point where technological advancement meets a common demand is the absolute sweet-spot that can drive businesses. It has been pointed out quite rightly that technology and scientific investigation are the best drivers of change. This is perhaps why technology and business are interlinked so deeply. It is almost like one factor feeding into the other and one providing fuel for the other’s development.
Here are some interesting insights into how science and technological advancement has made lives better and also brought about a strong business proposition with reasonable revenue generation module.
Computers: I think this has been the single biggest use of technology and science in businesses and has been instrumental in changing the way business is conducted on a day to day basis. From integrating business across locations to creating centralised solution for business and working out common inventory options.
Creating Direct Communication: Perhaps Blackberry started it and What’s App took it forward but this has been one technological innovation that has no doubt impacted businesses worldwide and has even given rise to a brand new business model based on direct communication and the ability to connect to the end user without any middle-men and intermediary forces. Direct communication has often resulted in market discovery of prices and healthy competition with improved quality of products.
Internet: But all of it would have been simply impossible to achieve if internet did not come into play. It can be indeed said that internet brought the world closer, the virtual platform helped filled the gaps that geographical positioning created. It is that singular platform that helped linking individuals, businesses and strategies in ways that were never imagined before.
RFID Technology: Otherwise known as the Radio Frequency Identification technology, this has been the biggest technological revolution for businesses ever since computers came into play. It changed businesses and the way it was done in many significant ways. From storing information in microchips to helping companies track output/input and inventory, it has simplified the way businesses are run.
Money Transfer Via Internet: From transferring money from one individual to another, from using banks to transfer money to using something as convenient as facebook messenger to transfer money digitally, it has been perhaps one of the most sustainable adaptation of internet use and has significantly eased out business operations world over.
Advanced Robotics: The various advances in robotics technology are making way for a more constructive collaboration between human and machines on a daily basis. The better and cheaper sensors, a direct impact of technological advancement, help them respond to their environment in a more efficient manner. Deriving benefit from the overall cloud-computing revolution, they are increasingly becoming more adaptive to using and accessing instructions and information remotely. This no doubt not just improves the efficiency but also create space for more meaningful expansion initiatives.
Cloud Computing: Well in very simple words cloud computing is using a network of remote servers which are hosted on the internet to store, manage as well as process data. So instead of local server or a single computer, it is all accessed via the virtual platform. It provides flexibility, elasticity and better adaptability to the existing business model and further exacerbates the efficiency angle in conducting businesses brilliantly. This also eases sharing resources, information and overall data processing.
Recyclable Thermoset Plastics: It is a brand new type of plastic designed to cut down on landfill waste. Given the fact that these are recyclable, their strength and durability is retained and gives them the ability to be reused instead of ending up as landfill and creating environmental hazard.
Chocolate Coolers: Though related to specific sector but this is one of the most pertinent examples of how effectively science and technology has been used by businesses and what great a role they have in not just streamlining the processes but also enhancing efficiency. It went on to significantly impact the financial results of some of the leading chocolate makers and those who provide these coolers as well and due to the resultant efficiency the end users too could take advantage as this resulted in a more competitive pricing.
Additive Manufacturing: Additive manufacturing essentially refers to the technique of building three-dimensional shape using a digital template by joining loose materials instead of creating structures by reducing or cutting out from a single structure. This also enables optimum utilisation of materials and enhances the range and output possibility. It helps manufacturers to make highly customized products for customers instead of making mass produced similar looking products.