Subhakar Rao Surapaneni

Investor, Sales and Marketing Pioneer, Author, Technology Champion, Philanthropist, Leadership Mentor

How digital economy is shaping up business world

By 2015, there will be around 6 billion mobile phone users and 3 billion internet users all over the world. 

Digitalization is rapidly changing the business landscape. Advancement in mobile telephony and increasing internet penetration has set in motion the third wave of capitalism that is transforming the way consumer behaves and market functions. The writing is clear on the wall. Mobility, cloud computing, data analytics and social media are going to be the future catalyst of business world.

The new shift in the digital economy is compelling enterprises to modify their business models as they cope with the changing technologies and new consumer behaviour. Irrespective of the industry type, businesses have to re-invent itself through the application of information technology – to adapt and scale up in this new digital economy.

Enterprises are restoring to real-time business intelligence and predictive analysis for faster decision making. And gearing up for unexpected market risks and opportunities. From product development to customer response; conventional thinking on business is getting overruled in the quest to find new market, meet customer expectations and achieve growth.

The future is inevitably moving towards a more customer centric business world. Not only from the point of customers’ need or expectation; but most importantly through their online behaviour. Understanding the way a customer researches and communicates is going to be absolutely critical for driving business growth.  Enterprises will require a diverse and inclusive workforce that capture the pulse of customers and respond with innovative business models that serve them instantly. Analytics and engagement in real time are going to be the holy grail of digital economy.

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