Business is an ever-changing environment in all industries. Did you know that staying on top of the latest trends is a great way to stay ahead of your competition?

We recommend regularly doing industry research to find out what’s working, what’s changing, what’s new and what’s popular in your industry.

To start, let’s take a look at a few overall business trends to look out for in 2020.

AI is on the rise

We’ve talked about AI (artificial intelligence) before here on Mango5. In summary, AI and machine learning will continue to rise and have a big impact on various business industries.

This is particularly helpful for businesses who prioritize their customer service. AI makes responding to customers much easier and faster. It’s also used for storing, sorting and analyzing high volumes of data while keeping it secure and protected.

Introducing 5G

Did you know that the launch of 5G networks is one of the biggest anticipated changes for 2020? Well, if you weren’t aware, now you know.

In 2020, 5G is expected to launch globally and is said to be the fastest internet speed in existence! How does this affect business? It means that consumers who love video content, and high-resolution images will be able to engage MUCH faster and businesses will be able to produce content and respond to this engagement more quickly and efficiently. 

Apps

Apps apps apps! Have you ever noticed how many companies have an app for something? One of the top upcoming trends in business is having an app for customers and clients to gain special rewards or offers.

Using an app to keep loyal customers and encourage new customers to engage is a clever use of mobile technology. Studies show people spend more hours a week looking at their phone rather than watching TV. Goodbye to good old fashioned TV ads!

Nowadays, businesses of all kinds are making use of promoting on social media or creating their own app with notification “ads.”

Big data

As small businesses grow, and older businesses expand, you’ll soon discover how much data you collect day-in and day-out.

Keeping a clear big data strategy and managing this data safely is a big task for people, but has been made effective and reliable by great technology and software. Big data refers to the storing and analysing of data in big volumes.

In 2020 and upcoming years, more and more businesses will be making use of big data platforms. 

Remote employees

Many work tasks these days are simply completed online or on a computer. With this in mind, more and more business owners are becoming accepting of allowing employees to “work from home” – changing the ways of old-fashioned office work entirely.

By letting their employees work remotely or outsourcing work to other companies, businesses are saving money on monthly office costs.

Closing Thoughts

Whether your business is big or small, new or old, there are many trends to look out for. Depending on the business industry you’re in, some of these changes may help or hurt your business.

It would be wise to consider the way these trends will affect your business. How can you incorporate the upcoming trends to ensure a successful future for your business? What changes do you need to make to stay on top of the competition? Will you need a more skilled range of employees?

If you plan to incorporate new technologies into your business but don’t have employees with the necessary skills, it’s time to consider outsourcing.

Contact Mango5 today and find out we can help you.