Blog_Banner_Asset
    Homebreadcumb forward arrow iconBlogbreadcumb forward arrow iconEntrepreneurshipbreadcumb forward arrow iconPreparing the workforce of tomorrow: Changing needs of Digital Business

Preparing the workforce of tomorrow: Changing needs of Digital Business

Last updated:
17th Oct, 2018
Views
Read Time
5 Mins
share image icon
In this article
Chevron in toc
View All
Preparing the workforce of tomorrow: Changing needs of Digital Business

E-commerce is a multi-trillion dollar industry that changes, upgrades and evolves more rapidly than many online businesses can keep up with. According to Forbes, by 2020 at least thirty billion devices and more than seven billion people and businesses will be connected to the internet. Digital business today is hardly recognizable to those businesses that were born on the internet merely five years ago.
The onslaught and convergence of online communications and transactions have many online businesses grappling to stay above water.  With such a dynamic landscape, how can you prepare to take on the workforce of tomorrow while keeping the continually evolving needs of digital business in mind? To prepare for the workforce of tomorrow, online companies should address the consumer market directly, improve communications through effective content management, and truly embrace what means to be innovative.

It’s a consumer’s world

Businesses are forced to rethink their strategic business processes as they endure changes in customer experience, technology, and the consumer market. Today consumers can interact with online businesses in new and instant ways. Purchase decisions are fueled by consumer experience and interaction, and thanks in large part to the app economy and social media trends, consumers are now running the show.
Professional Marketing Skills Required in Different Stages of Career

These trends force digital businesses to look at the one tool they have to understand their customers: data. It’s not always so simple for companies to know how to adopt data insights and implement them into daily business processes. Data and analytics have the ability to power businesses with crucial insights that can be leveraged to power new revenue streams. From product research to customer behaviour, today it’s data that’s running the show.
Let’s take the example of an e-commerce business looking to increase profits by expanding internationally. What once took teams of professionals and hours upon hours of research and resources in researching products with high profitability opportunities, now takes mere seconds thanks to a tool like Algopix that took on this manual process and automated it with sophisticated algorithms. By providing sellers of all sizes the tools they need to make data-driven decisions, every seller out there can compete in the international arena of e-commerce, and utilize their funds in the best possible way.
Through this data technology, the e-commerce landscape is all but revolutionized as sellers big and small have access to critical product data, lowering risk for international expansion and giving them security to grow with confidence. Digital business necessitates the need to adopt new automated systems and to leverage the data they produce into new business opportunities, strategies, and processes.

Learn Online MBA Courses from the World’s top Universities. Earn Masters, Executive PGP, or Advanced Certificate Programs to fast-track your career.

Communication

From chatbots to the Facebook messenger, businesses have to be on top of their customer communication and experience to survive today’s digital business landscape. The NYPost has estimated that American check their phones every twelve minutes, that’s a shocking eighty times per day. Given that information, customer engagement online must take top priority for many digital businesses as it presents both a significant opportunity for engagement, as well as a way to satisfy a need for quick communication on the customer’s side.
Integrating Sales and Marketing: Effective Way to Revenue Generation

As mentioned, we’re currently dealing with a consumer-driven market. Regarding communication that means feedback, messages, reviews, and ratings can have a significant impact on online businesses as customers use this information as social proof with which to base their purchasing decisions off of. Digital businesses must put their attention toward engaging customers and driving sales through strong content management. Content has the power to change behaviour and influence decisions, as has emerged as a core value for e-commerce businesses as a way to distinguish themselves, establish an emotional connection, and get ahead of the competition.

Innovation is not just a trendy word

Everyone throws around the word innovation today, but only those who truly embody the word’s meaning can be successful. Just consider the famous example of Airbnb. By disrupting an older industry (let’s say travel agencies or stagnant hotel websites), Airbnb was able to successfully capitalize on technological changes by providing lower cost unique opportunities for travellers around the globe.
Today’s digital business is one that only the most adaptive and malleable businesses can stay afloat on choppy waters of change. When it comes to hiring new employees, companies have made the shift from hiring traditional professionals (think: top 4-year university or an MBA degree) and instead are open to people from all walks of life so long as they bring diversity, creativity and a new perspective. Employees that can look at the traditional older outdated system and not only imagine but create new processes and technologies are most valued.
The Emerging Technologies to Watch for 2018 – 2020

Preparing for your business’s future means taking the necessary steps to not only survive digital transformation but also adapt and even own its processes. Through data-driven decisions, customer engagement, and the adoption of genuinely fresh ideas, businesses will possess a bright future within an ever-changing digital landscape.

If you want to learn more about marketing and entrepreneurship, Liverpool Business School & upGrad offers Master of Business Administration (MBA) Liverpool Business School which helps you to transform your career. The program provides 1-on-1 mentorship from industry leaders, 1-week immersion program at University campus, dual credentials (MBA from LBS & PGPM from IMT), network with peers at offline basecamps and more.

Profile

Dani Avitz

Blog Author
Dani Avitz is an e-commerce expert & COO of Algopix Algopix, a product market research tool for eBay and Amazon sellers.
Get Free Consultation

Select Coursecaret down icon
Selectcaret down icon
By clicking 'Submit' you Agree to  
UpGrad's Terms & Conditions

Explore Free Courses

Suggested Blogs

5 Simple Ways To Think Like An Entrepreneur: How To Make it Happen
5883
How to think like an entrepreneur? The ‘Entrepreneurial world’ could be a mind-boggling place for a first-time business owner. With the overwhelming v
Read More

by Anirudh Challa

26 Jun 2023

Are ESOPs a Good Option to attract the Best Talent for Startups?
5770
Employee Stock Option Plans (ESOPs) are part of policies to attract, motivate and retain employees by organizations. Thanks to the startup ecosystem,
Read More

by Himanshu Puri

25 Mar 2023

The Future of Jobs – Automation Mimicking Human Intelligence
899124
This is an excerpt from the book ‘The Fuzzy and the Techie – Why the Liberal Arts Will Rule the Digital World’ by Scott Hartley. Scott Hartley f
Read More

by Kechit Goyal

19 Mar 2023

How to Become an Entrepreneur :Steps, Tips and Best Degree
5614
It’s mostly a dream for everyone to become the master of his own business. And why not? The time for following the bosses’ orders has now shown a tren
Read More

by Rohit Sharma

07 Mar 2023

Top 7 Success Tips for First Time Entrepreneurs
5256
Renowned Silicon Valley investor and serial entrepreneur Peter Thiel wrote in his best-selling book, “Going from 0 to 1 is the hardest thing in the wo
Read More

by Dilip Guru

24 Feb 2021

The Emerging Technologies to Watch for 2018 – 2024
6328
A few years back, a research was conducted by Forrester about the progressive behaviour and pattern of the B2B customers. The study revealed that 74%
Read More

by Anshuman Agrahari

08 Jan 2021

Top 10 Essential Tools For Startup Business in India 2024
6197
  In a start-up, absolutely nothing happens till you make it happen. – Marc Andreessen If you are a start-up or nursing the idea of start
Read More

by Anirudh Challa

08 Jan 2021

Startup and Mid-tier business: Can they grow in 2024?
5223
The world is evolving at a rapid rate as new technologies disrupt traditional business practices. Almost every industry has been transformed by new te
Read More

by Helen Cartwright

08 Jan 2021

4 Pillars of Scalable Startup Entrepreneurship & Seed-Funding!
5525
The startup entrepreneurship landscape in the 21st century is phenomenal. Startup entrepreneurs are working on brilliant ideas in their quest to be th
Read More

by Dilip Guru

03 Jan 2020

Schedule 1:1 free counsellingTalk to Career Expert
icon
footer sticky close icon