When you think about how technology has evolved over this past century, some facts might give you the chills. Today’s average smartphone has more computing power than what NASA had back in 1969 when it sent men to the moon. It was thought that a machine could never best a man in complex tasks, like playing chess, but on February 10th 1996, Deep Blue beat chess Grandmaster Garry Kasparov in one game. And on a more recent note, today’s possibilities with technology are endless. Artificial Intelligence is a strong reality, quantum computing is just around the corner, and space travel is becoming increasingly more accessible.
It comes as no surprise that everybody seems to be embracing technology as a means to reach higher grounds, revolutionize our thoughts, and break all the rules once set in stone, establishing a new meta. Especially in the business world, companies are investing heavily in technology to have an upper hand over their competitors because, in the end, it’s all about market presence and full customer satisfaction.
Business Analytics and Technology as an Aiding Tool.
As a company, an exhaustive understanding of your surroundings is the first step to controlling your market presence, and the best way to achieve that is by using technology as your ally, gathering all the relevant data and breaking it down into complex analytics. One subsector that excels in this task is that of online trading.
Companies like CMC Markets use of every possible tool available to remain a leading provider of Contracts for Differences, or CFDs. A CFD is a form of derivative trading known as Margin Trading. It enables investors to only place a small amount of the total position opened on one asset. This is called the Margin Rate, it responds to ratios like 1:50, 1:100, 1:500, etc.
This very feature is what gives people like us, small investors, a chance to venture into the world of online trading, with minimized risks and relatively small initial investments, definitely smaller than what we would need with a traditional broker.
But how exactly do companies like this benefit from using technology? There is one key component to it. Just by using technology as a secondary feature or a mere building tool is not going to cut it. Technology along with information science must become allies.
More than just using computers as processing tools or something which gives companies an online presence, they should master data analytics and seamlessly combine all of this information available to create an integrated living environment.
Live news feed, market analytics, automatically generated charts, integrated platforms for both web and mobile access, market patterns and trends recognition, these are just some ways with which companies can go to the next level and stray from their competitors. After all, every company’s ultimate goal is to be perceived as unique and irreplaceable by their customers, and the only way to achieve that is by offering their services in a way which no other company can match.
Over the short span of the last couple of decades, the business world has evolved to inherently grow alongside technology as partners. This bonding translates into a huge win for all consumers worldwide because competition has become so fierce that every day we’re presented with newer and more improved options.
How we feel about a particular product or service really matters, and only those companies that can truly relate with their customers are going to thrive. This is the dawn of a new age, one where we play a huge part in the market and by embracing technology, companies are starting to know exactly how we feel about them and adapt accordingly to keep offering us, what we really want and need.