Technology driving Business

Talk to a non-technologist and they will tell you that Technology is nothing more than a hype and as with any other trends it will disappear soon. Here is an interesting example of how technology can make a real difference to a business especially in these tough times. A leading nationwide, retailer offers deep discounts every now and then (think of the diwali bumper sale offers at Big Bazaar!) in order to attract consumers and boost sales. This is also a great way to reduce inventories and stay in tune with the latest product trends. Today, the retailer offers these discounts in all stores i.e across the nation. But think about this for a second. It could very well be that in some states or regions, certain products are doing really well and there is no need to offer discounts. So we need a way to control discounts by region and by product. You can add more dimensions to this - There are certain common seasons like christmas, back to school, etc. But there are also seasonal variations (for instance end of winter, ethnicity specific events, etc). And then there is consumer profiles, age demographics, income levels - you get the idea! Here is where technology comes to the rescue! Within a couple of months, an application can be developed that takes into account all these variables and shows you the most optimal prices. Reports can be customized to slice and dice the data. Feed historical data and low and behold - the savings are very visible!

So next time you talk to a poet or a dramatist - dont let them belittle technology so easily ;)