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5 Ways Big Data Is Transforming the Real Estate Business

Businesses across different industries are leveraging Big Data – that is huge volumes of data collected from search engines, social media, and other non-conventional sources –  to bring improvements in many business aspects. 

With Big Data analysis, businesses enjoy streamlined resources management, increased operational efficiencies, growth opportunities, expedited and smart decision-making, and optimized product development among other benefits. 

It is no different in the real estate sector, the transformation is clear. Companies, investors, sellers, and buyers are embracing Big Data using this type of data to build algorithm models and predictive analyses to remove the guesswork. As a result, they are reaching predictions that are more accurate. Moreover, these predictions are bringing several benefits to the stakeholders. 

Here are 5 ways leveraging Big Data is revolutionizing the real estate industry.

Source: codeburst.io

1. More Accurate Property Evaluation

When introducing property in the market, pricing it correctly is crucial in the real estate industry. Real estate professionals often relied on their expertise and experience to manually appraise a home. This meant performing a comparative market analysis based on factors such as the proximity to schools, institutions, and other amenities as well as the prices of other properties in the neighborhood.

However, Big Data and AI are allowing these professionals to evaluate properties more accurately based on the current trends and other additional information. Unlike manual appraisal which compares just a few properties, big data can analyze thousands of similar properties. Big Data gives better insights into the market to help evaluators understand the markets in-depth. 

In addition, Big Data technology helps remove inconsistencies brought about by dependency on many data sources. The technology is able to bring all these data sets together to help reach a transparent and objective figure.

Source: mphmag.com

2. Improved Marketing Strategies

When it comes to marketing, the more targeted a strategy is, the better. 

With Big Data, property agents get access to valuable insights about what prospective buyers are looking for in properties. In addition, agents can be able to identify buyers’ demographics by gender, age, region, preferences, interests, career objectives, and more to help them create more targeted advertising campaigns. For instance, agents can be able to tell that a customer has young children or pets. With such information, agents focus on properties in pet-friendly neighborhoods as well as those close to schools. Likewise, with insights on career aspirations and standard of living, agents can help prospective buyers to locate properties that match what they are looking for.

Big Data is mostly transforming the luxury homes market in this regard. This is where prospective buyers are looking more into what features the homes have to offer, as compared to specific locations.

Source: smartbusinessdaily.com

3. Enhanced Property Development

Big Data analytics is helping developers and real estate company owners maximize profit margins through improved property development

Stakeholders are analyzing data sets to identify areas that promise the highest profits for development. For instance, by analyzing government records, they are able to identify areas marked for infrastructure improvements. Likewise, by looking at trends on social media, they can gain insights on, say, an increased interest in a particular area by a particular demographic. 

Additionally, by going through an apartment market survey, investors can be able to analyze property occupancy by comparing occupancy rates in the past versus future predictions. This helps them identify areas with high occupancy rates for their future investments.

In addition to identifying the best places to invest in, investors can use market analysis reports and follow social media trends to determine what residents in multifamily properties are looking for.

Source: itchronicles.com

4. Better Decision-Making

AI and Big Data are transforming the real estate industry by enabling faster and better decision-making for both customers and real estate business owners. 

For instance, Big Data delivers all the information a customer might need about a property. This can include crime rates, school zone data, home value graphs, and more. With access to such information, they can make the decision to buy or not faster and from a point of knowledge.

Likewise, investors can be able to look at the property’s past data such as how the property was used, past renovations, permits pertaining to the property, insurance claims filed in the past, and legal cases attached to the property among other information. This puts the investors in a better position to decide whether to go ahead with the purchase in a quick manner. 

Moreover, Big Data is paramount in risk mitigation to reduce losses.

Source: elinext.com

5. Efficient Running of the Businesses

As mentioned earlier, real estate companies relied on manual processes. 

This meant labor-intensive procedures and more man-hours for the work to be done. The entrance of big data brought about process automation. Big Data uses Artificial Intelligence technology to process huge volumes of data faster and accurately to produce user-friendly data.

With the time-consuming manual processes out of the way, real estate agents now have more time on their hands. Moreover, they are using this time to concentrate on more important business functions such as improving customer relationships. 

Property developers, on the other hand, are using useful data sets to keep abreast with the market changes and adapt quickly as needed.

Source: youtube.com/multifamilyuniversity

Conclusion

Big Data analytics provide real estate stakeholders with access to valuable information drawn from different and numerous sources. This gives a wider scope of data analysis and accurate insights into properties and land. 

Such an approach equips real estate business owners with the information they need to make better development decisions. Similarly, agents can zero in on properties that match their customers’ needs faster and buyers can dig out information about properties before making the purchase decision.

How to Hire Software Engineers on a Startup Budget

Startups are often caught in a dilemma. 

They have to contain their costs, optimize their working capital, and do full justice to the investments made. At the same time, startups have to hire quality software engineers. 

Letting code out into the wild is like taking undue risks without good software engineers. Startups have to be super careful about this. Even a small glitch in a prototype can make the customers suspicious and picky about whether they will use any startup products.

5 Tips on How Startups Can Hire Software Engineers on a Startup Budget?

Here are some points as to how startups can hire software engineers on a startup budget rather than an enterprise budget.

Attract Creative and Driven Candidates

Remember that there are software engineers who like to work in challenging environments as much as environments with good benefits schemes for employees. These are talented and creative software engineers. They cannot work in sweatshops fixing obsolete or stale code someone wrote decades ago. They cannot work on products conceptualized and designed by other minds, and they have to fit into this. They’d rather exercise their original thinking by being part of a core group of professionals building a revolutionary product. The product becomes a manifestation of their mindset or output of their creative thought process.

Such professionals find redemption in startups. At startups, software engineers are not just mere bricklayers. They are brick makers. They are responsible for theorizing, conceptualizing, and implementing their ideas. Startups heavily rely on the minds of such engineers. So, a startup can identify such candidates by assessing their interest level, motivation level, zeal, technical expertise, and love for programming. Importantly – their passion for building new products.

Source: bluematador.com

Use Curated Tests to Sieve Out the Best

Whatever said and done, startups need the crème de la crème. 

These people will define the destiny of this company. The ideas they put into motion will dictate the company’s trajectory in the future. And it’s not that difficult to find such engineers. Instead of using redundant hiring techniques, a better approach is to create a curated online assessment. The test can be highly specific – because no two software engineers are the same.

A software engineer who is good at building good UIs may not necessarily know Query languages and vice versa. In the software development world, horses for courses methodology work best. But startups most often need engineers who are full-stack. These are unicorn designers and developers – finding them is rare, but finding them is possible with curated tests. 

Such professionals want to work in stimulating environments because their minds are wired that way.

Source: gardoce.com.au

Hire Freshers 

When Zuckerberg started building Facebook, he had many projects under his belt. But he was not a ‘corporate-ised’ software engineer. He was a garage software engineer. He would code for the love of expressing himself. So, he was a fresher in that sense. 

Similarly, plenty of freshers love to code for the love of coding because it is a form of expressing oneself. Ironically, these freshers don’t get a way into large enterprises because they are categorized as freshers. Large enterprises are highly prejudiced in this regard. They don’t want to gamble on freshers.

Startups need not gamble on freshers. They have a better yardstick to measure the technical expertise of freshers. Using online tests is one of the good ways to do it. An online test that checks a software engineer’s understanding of core computing concepts will fare way better than traditional recruiting processes. Startups have the best access to freshers. And bright minds have the craziest and most revolutionary ideas. 

Tapping into them is a great way to look for a path-breaking idea.

Train Freshers

Hiring freshers and putting them on the job right away is not a good idea. Reserve a budget to train and onboard them. Allow them space and time as they need a lot of it. Their minds are wacky and ready to make inroads into the toughest problem areas. Allowing them the freedom to breathe is like providing sunlight to a plant. 

The more the sunlight, the more the growth.

Training should be a combination of soft skills and technical skills. In an organization, as much as technical skills matter, soft skills also matter. Communication is the bridge on which ideas, thoughts, and information pass. 

Even more important is behavioral training. Teaching freshers how to collaborate safely and professionally eases the office environment. It sets a congenial environment for collaboration and innovation.

Source: torc.ai

Hire Remote Software Engineers

Living expenses could differ by location. 

In certain locations, the cost of living might not be as high. Hiring remote software engineers from such locations is a good way to stay within budget and get quality talent. If a startup uses this strategy, then there is no stopping from where to hire. 

The world is a vast place. There are talented software engineers across the globe. It is up to the startup to pinpoint such talent and keep them engaged.

The startup can build a business model where it hires remote software engineers and uses a local verifying agency in that location to verify these engineers‘ location and credentials. This way, a global workforce can be built. All within budget and not relenting on quality. 

Currently, many startups are using this strategy and succeeding. A startup can double up its recruiting accuracy by using curated online assessments to get the best quality software engineers.

Source: willdom.com

Wrap Up – Plan in advance

Hiring software engineers on a budget needs good planning. 

Planning and prioritization are the keys. Otherwise, if a project comes in, the startup might be constrained to hire expensive software engineers to fulfill the project’s demands. Planning 6 months in advance is a good way to build capacity. Then, this capacity can be showcased to get projects.

A mix of local and remote software engineers can complete the projects. The success rates of these projects can be high, especially if the startup uses online assessment tools such as TestGorilla and others.

How Modern Tech and Data Management Revamp the Construction Industry

From managing personnel and financial outlay to predicting outcomes and equipment maintenance, the role of data is more critical in the construction industry than you might imagine.

Nowadays, modern tech and data management are revamping the construction industry on the whole. With construction technology investments more than doubling in the last decade, construction practices are changing.

These changes carry significant implications for the industry. From the tech involved to their applications on-site, these are the details you need to know. 

Source: onebyfourstudio.com

The Tech

A host of new technologies is powering innovative construction techniques. These are streamlining the way data is collected throughout development, leading to new and greater insights all the time. 

The construction industry has not been immune to the mobile revolution, in which data-driven oversight has become the new normal – these technologies are revamping everything from site monitoring to building practices themselves.

Let’s check the technologies responsible for this overhaul of construction practices across the board:

The Internet of Things (IoT)

The IoT is an umbrella term that includes all kinds of devices that communicate data over an Internet connection. In the construction industry, they include

  • Asset tracking tools
  • Remote equipment management devices
  • Wearables

These various sensors and monitors can track everything from hazards in working environments to the performance of machinery. 

By using them, site managers gain a comprehensive picture of everything from safety to efficiency. 

Artificial Intelligence (AI)

Through AI, all kinds of construction processes can be evaluated, automated, and improved. That’s because AI technology can evaluate information at human or superhuman levels. 

Using AI-powered systems, construction managers are revolutionizing the way they manage labor and risk assessments. 

Machine Learning algorithms take employee information and automate scheduling accordingly. Workers are evaluated according to their skills and project goals, then the system creates a workflow optimized for project efficiency. 

Similarly, risks associated with a project can be evaluated and reduced through these tools. The AI models risks against existing data, and then produces alerts or recommendations for improvement. 

Source: build-review.com

Augmented and Virtual Reality (AR and VR)

Augmented Reality (AR) represents a visualization of reality overlaid with digital information. On the job, this means interactive displays for equipment and process information. 

With Virtual Reality (VR), users are fully immersed in a digital world. From here, construction professionals can visualize projects and engage in computer-aided design to enhance the efficiency of the process. 

3D Printing

This is an additive construction process that stands to change the nature of construction altogether. With 3D printing, structures can be pre-fabricated with digital precision. 

Additionally, this technology enables the use of new materials and alloys through its unique approach to assembly. The implications include higher quality at lower costs. 

Source: constructionblog.autodesk.com

Robotics

We also have the robotic tools that make construction sites more secure and more efficient. These devices are often paired with AI to complete tasks like

  • Concrete and bricklaying
  • Welding
  • Steel-truss assembly

As a result, labor costs and time are saved, with the added benefit of machine-level quality. 

These technologies are all linked and they gather important construction data, which in turn informs valuable data management processes. 

The Data Management Processes

With all this technology, the data available to construction companies become boundless. Additional tools and processes are needed to evaluate and apply this data. 

Fortunately, the data management tools being employed by construction managers are as vast and powerful as the aforementioned technologies. 

These are just a few of these tools and processes:

Building Information Modeling (BIM)

BIM is a process that has been around a long time but only in the modern time has become commonplace in construction.

BIM entails turning all your collected data into a 3D model of the build, complete with a detailed building process. These models are also interactive and integrated with your building schedule. 

Having this oversight is essential enough that 78% of building companies view BIM as the future of project information. 

Source: conceptarchitecturaldesign.blogspot.com

Digital Twinning

Digital twinning is a process that is highly similar to BIM in nature. That’s because it uses data to model a build, piece of equipment, or procedure. 

With digital twinning, real-time data is fed into a smart module that runs AI algorithms to determine efficiency and predict problems. On the job site, this helps to reduce risks. 

Computer-Aided Design (CAD)

CAD is another data management tool in which a computer assists the design process. It can be used in everything from laying out the construction site to building a project workflow. 

Project managers employ this tool as they create precise models of buildings. As a visual aid, it helps ensure that every element of a design is considered and optimized before construction even begins.

Source: csiestimation.com

Integrated Project Delivery (IPD)

Then we have Integrated Project Delivery. IPD represents the compartmentalizing of project elements through data analysis to produce a highly targeted and flexible lean construction process. 

This process strives for efficiency through collected information from all stakeholders in a project. From here, collaborative tools are used to streamline data into ideal project conditions.

Cloud-Based Construction Management

Of course, many of these data management processes would not be possible without the use of cloud-based construction management systems.

Cloud systems are perfect for data visualization and workflow management. That’s because these collaborative technologies safely store data in accessible forms, lending to the collaborative ability of all stakeholders.

Services like Google Cloud can be employed to create tailored data experiences, which then result in broad project oversight. As a result, managers can revamp the entire construction process with measurable, intelligent efficiency. 

Source: constructionblog.autodesk.com

What These Modern Tools Mean for the Construction Industry

You may understand the functionality and usefulness of all these tools, but what are their direct implications for the construction industry?

Overwhelmingly, these implications are positive. With data and technology, we can streamline productivity and reduce risk at every stage of construction. 

Additionally, the digital transformation is a goldmine when it comes to cost reduction. Primarily, this is due to the effects it has on finances, staffing needs, and innovation potential.

Finances

Technology helps cut construction costs through planning, prediction, and efficiency. That’s because the data-driven and digital nature of these tools allow project managers to effectively correct issues as they occur.

For instance, nearly 70% of projects fail to come within 10% of their budgets, while 30% of all construction work is rework.

By employing digital tools to model both these aspects at every stage of construction, labor and materials costs are reduced. 

Staffing Needs

Another key element of efficiency and cost reduction empowered by technology is the management of staff.

Labor costs make up around 20%-40% of overall construction costs. Reducing these through AI-assisted scheduling and workflow automation is possible with these modern tools. 

Source: imc-cpa.com

Innovation Potential

Finally, modern technology and data management enable greater levels of innovation than ever before. With all the insights from the data, you can better identify pain points and their solutions. 

Construction managers are using devices on the IoT alongside data management processes to model better processes. Then, analytics tools predict the effectiveness of any experimental solution before it takes physical form. 

The result of innovation means reduced costs and can even translate to more sustainable building procedures. These benefits give every construction company reasons to adopt new and transformative tech

Conclusion

With modern tech and data management, the construction industry is being continuously revamped. Greater insight from data enables productivity to rise while costs go down. 

Project managers should implement these technologies for greater efficiency onsite and for a competitive edge in our new digital world. 

ZESIUM Among Serbia’s Top App Developers For 2022

At ZESIUM, we focus on the development of tailor-made products, including native mobile app development (Android, iOS), backend/web app development, Internet of Things (IoT), and Artificial Intelligence (AI).

We are Agile and able to adjust our development process per your requirements. Our mission is to build the best products and develop solutions for the global problems while challenging ourselves to create innovative products.

We are thrilled to announce that Clutch has recognized ZESIUM as one of Serbia’s leading developers in the app development space. For context, Clutch is the leading ratings and reviews platform for IT, marketing, and business service providers. Clutch has become the go-to resource for buyers looking for the best company to hire and businesses seeking qualified leads and new projects.

Companies must exhibit an unusually high ability to deliver top-tier work to their clients to be eligible for a Clutch Leader Award. Receiving this award is no small feat, and we’re extremely appreciative of this recognition.

We’re proud to receive this outstanding award and look forward to helping even more partners expand their businesses. We believe that customer satisfaction is one of our most significant benchmarks for success. 

To our partners that trusted us, we genuinely appreciate it.

Here’s what they have to say about working with us:

Head Of Software Services Department, ADMS Software Company

“They’ve helped us a lot on the mobile front. We didn’t have any resources that actually had the knowledge on making mobile apps. We now have four mobile teams, two on our side and two on theirs. We’ve been with ZESIUM for the last seven years, and we’re really satisfied.”

If you’d like to know more about us and our projects, check out our profile on Clutch

We are your ‘set-and-forget’ technical partner – we Bring Your Ideas to Life with software products tailor-made for YOU

Send us a message now, and we can start talking about how we can help your business grow.

10 Best SaaS Management Tools in 2022

Running a business in today’s highly data-driven digital world is certainly not a cakewalk. More importantly–running a business efficiently is yet more challenging. Tons of complex variables to look after and analyze to make better business decisions. 

Gone are the days when you had to skim through bundles of pages to find that one specific record. Fortunately, AI-powered cloud-based tools and Big Data have taken over and made this process way too easy. From managing data to sharing and performing various operations, SaaS tools have taken the business management game a notch higher.  

While you can choose asset management tools like Zluri to optimize the business lifecycle and maximize ROI, there are four things you should consider before purchasing or subscribing to any platform. 

  • Is the UI simple to use and visually appealing ?
  • Is the pricing value for money? 
  • Can you easily integrate the tool with other business management tools? 
  • Does the company provide good tech support? 

Once you are clear on these four things, you can select a tool that suits best to your business. 

You will get to know about ten best SaaS tools to consider for your business – before jumping directly to the SaaS tools, let us first understand how SaaS management tools can benefit your business. 

Source: smartermsp.com

Why Do You Need SaaS Management Tools? 

Be it IT or any industry that deals with an excessive amount of data, SaaS management tools or platforms have many benefits. Below listed are a few:

  • You can prepare audits easily 
  • You can get an overall picture of all your company’s assets 
  • You can get all the information needed to make better business decisions 
  • You can make your system more stable and secure 
  • Tools automatically find malware and remove unwanted software from the system 

If you wish to maximize efficiency in running your business, then using SaaS tools is of utmost importance. 

Now that you know how SaaS management tools can help your business, let’s look at which SaaS tools you can use for smoother business operations. 

8 SaaS Management Tools for Your Business 

We have listed ten tools that can help you optimize your business. 

Considering your budget, functionalities and business needs, you can choose to use any of these ten tools for your business.

Zluri 

This is a data-driven platform primarily used to to automate IT related tasks including procurement, renewals and onboarding of employees, etc. It’s main features are:

  • Removes duplicate applications 
  • Highlights less used tools and applications with similar functionalities 
  • Removes unsecured apps 
  • Manages complaints risks 

Zluri has not publicly disclosed its pricing, but you can use a free trial that is available for companies with less than 25 employees. 

Jira

This is one of the most well-known tools used prominently in IT industries to track projects. Jira helps software development teams to effectively plan and manage projects. Well suited for agile teams, this one is an indispensable tool for companies that largely depend on reliable software development and maintenance tools for their business. 

  • Some of the primary features of Jira are as follows: 
  • Has scrum boards to manage complex and tight timeline projects
  • Kanban boards for big picture 
  • Customizable workflows 
  • Rich API and different tool integrations 

If you are flooded with projects and are struggling to keep a track of each, then you should consider using this tool. 

Source: betterbuys.com

Productiv 

Many SaaS tools provide you with features that can help you store and analyze customer data. However, Productiv, as the name suggests, gives you insights on how your internal staff engages with the software. It’s primary features are:

  • Improves compliance 
  • Improves application visibility 
  • Increases employee personalization 
  • Gives you more efficient renewals 
  • Gives you smarter license allocations 

Again, you can go for a free trial for this platform and then make a purchase if you are satisfied with its results. 

BetterCloud 

This tool incites policies from client’s end and also has data exposure, customer onboarding, offboarding data. Other features of BetterCloud include:

  • Data analytics 
  • Data security 
  • Compliance management 

Overall, this tool is an all-in-one platform that can also be easily integrated with other tools to smoothen working of your organization. 

Pixpa 

This is essentially a website-building tool in which you can also integrate other tools. So if you want to build a website from scratch with a simple drag and drop facility, then Pixpa will work well for you. Moreover, the tool has following features:

  • You can create portfolio to sell your work 
  • Comes with built-in e-commerce capabilities 
  • Has an SEO manager
  • Extra blogging features 

This tool is mostly suitable usually for solopreneurs including designers, artists, photographers to create their portfolios and sell their work. Moreover, it is an affordable service and accessible to any company or solopreneur looking to create their website. 

Beamy 

This is a SaaS management tool that could benefit a large business. Beamy tracks optimization actions of SaaS applications. It helps in optimizing technology costs at each point of the system. Other key features of the app include: 

  • Dynamic application directory 
  • GDPR actions 
  • Spend and vendor management 
  • License management 
  • Shadow IT detection 
  • Subscription management 

Moreover, the platform provides SSL websites on all websites despite whichever plan you must’ve chosen and 24×7 customer via email or chat.

Visme 

It is a simple visual content tool that allows businesses to create and edit presentations. Plus, it also allows you to share presentations, videos and other visual content. This tool is especially helpful for small businesses with limited budget or resources. You can easily create branded content without even having design knowledge since it is an easy tool to use. 

Some of its primary features include: 

Visme lets you create engaging visual content by simple drag and drop interface

  • Lets you create animate content with animation features 
  • Consists of gallery of templates to choose from
  • Easy to design content even for non-designers 
  • Allows integration with other tools 
  • Features like commenting options, integrations with Slack etc.

Planable 

It is a tool especially for content creators and marketers to simplify content planning. You can consider Planable as a hub for a brand’s social media campaigns that lets your marketing teams collaborate better. With this tool, you can create, plan, approve, review and publish content smoothly. 

Some of the features of Planable are:

  • You can create and preview social media posts, all at the same place
  • Seamlessly schedule content with drag and drop functionality 
  • Incorporated features like adding internal notes and commenting 

You can avail a free plan that would be valid for the first 50 posts and choose a plan if you find it suitable for your business. 

Source: pcmag.com

Wrapping up 

We have given you the top ten tools to consider, however only you can decide which one is the best fit or whether you even need a SaaS management tool for your business. 

Once you are clear on your business requirements, choosing a SaaS management tool that works for your business gets easier.  

How Globalization Changes the Adoption of Digital Technology

Did you know that it took almost a century after their invention for landlines to be adopted in households in the United States? Moreover, this was after putting in a lot of work in building the necessary infrastructure. If you were born in the age of the Internet, this can be very hard to comprehend. 

Today, the rate at which users are adopting digital technology has greatly increased. We are seeing inventions made today from one corner of the globe reaching users worldwide in no time. This is possible because the world is increasingly connected and infrastructure systems are highly established. 

Here, we look at how globalization is facilitating the accelerated rate of digital technology adoption among users.

Source: blog.benchkart.com

What is Globalization?

The term globalization refers to the increasing interdependence of economies, populations, and cultures across the world. Simply put, it is an open flow of information, ideas, jobs, technology, and goods among consumers and countries around the world.

Technology advancement is among the key factors that are fueling globalization with reduced costs of communication and transport. The world is slowly becoming one global village, as people around the world are no longer limited by time and location. Moreover, the world is experiencing numerous benefits of globalization such as reduced costs of products,  easy access to new markets, and more opportunity for worldwide growth. 

Globalization is also contributing to increased standards of living across the world and businesses can enjoy a global talent pool, if a while ago it was deemed impossible to work from a remote location, nowadays that is becoming the norm. This in turn is making it possible for people to explore different careers beyond their homeland, and for businesses to discover the international talent that brings diversity and uniqueness to their teams.

Source: pros-cons.net

What is Digital Technology Adoption?

Digital technology adoption is where users reach full capability to utilize electronic devices, resources, tools, and systems to their full potential or capacity. This means going beyond the basics to make use of advanced features to unlock new processes and capabilities. For instance, a tablet user who uses it only for browsing the Internet is yet to achieve digital technology adoption. Only when he or she is equipped to use it in other ways such as playing games, taking pictures, doing online shopping, making video calls, and performing all electronic processes that the tablet is capable of, will digital technology adoption be achievable.

Likewise, if a business utilizes software for a number of processes or departments, the full potential of the software hasn’t been realized. However, the company can achieve digital technology adoption if it has gained the capability to leverage the digital tools to their full potential across the entire organization. For instance, using online video interpretation tools is a simple yet powerful way for businesses to tap into new markets around the world. 

Whether conducting sales calls or holding meetings, these video platforms make communication quick and easy, even when language barriers may exist. In addition, these tools help to reduce costs related to travel, translation services, and international phone calls.

Source: digital-adoption.com

Why is Digital Technology Adoption Important?

When digital technology is achieved, users of these digital tools and devices gain the power to transform their lives and businesses. Businesses can be able to streamline processes to save time and costs. They can also use digital technology to enhance customer experiences and gain a competitive edge. 

Digital technology adoption can help individual users make the most of their digital devices and tools. They can enjoy revolutionized entertainment, shopping, banking, learning, travel, and job-hunting experiences. In addition, they can take their connectedness to the next level.

Digital Technology Adoption Rate is Rising

Gone are the days when new technologies took years to reach consumers, like in the case of landlines described above. 

Technologies such as smartphones managed to gain a high rate of adoption in just a few years. Most users mastered social media as soon as it was invented. It is clear that new digital technologies are being adopted at a faster rate than they were in the past. Moreover, there is no sign of slowing down in the near future.

Source: reddit.com

How Globalization Helped?

Globalization has played a critical role in accelerating the rate at which users are adopting the use of digital technology. The increased connectedness across the globe has brought many benefits about:

  • Increased transfer of knowledge –Knowledge of new technologies is now readily available. Digital technology users can access this knowledge much more easily and apply it by utilizing digital tools.
  • Enhanced international competition – We are living in a highly competitive world where almost everyone is doing their best to outdo the other. People are competing on who owns the latest technology as well as who knows how to utilize it better. Moreover, this is happening in the full glare of the Internet for all to see. As a result, most people aren’t afraid of new technologies and are eager to learn and use them to their full potential.
  • and more.
Source: economicshelp.org

Conclusion

If new technologies are to be used to their full capacity, then digital technology adoption is essential for users. Thankfully, the world is more connected than ever before. 

As a result, the flow of knowledge is enhanced, making it readily available and easily accessible for users. This means that the digital technology adoption rate is increasing as globalization continues to take shape.