The Megatrends You Have to Know About In Your Business

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What exactly is a megatrend in the world of business? Well, a trend tends to dictate the sort of product you’re going to make. Many of the trend-driven choices you make could end up being very short-term. A megatrend, on the other hand, fundamentally changes the surroundings and composure of your market. It changes the way you approach the things that you do. They’re often much more abstract than regular trends - but they’re incredibly important, and you cannot afford to ignore them.

You’ll see what I mean by the end of this article!

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Big data

“Big data”, like much of what I’m about to list, is probably a term you’ve heard in the past. You may have dismissed the idea that big data is relevant to your company. But big data is changing the way every field finds success. From the Fortune giants to the local family-runs stores; from the tech industry to the restaurant business. Big data is going to be essential to every business.

The digital customer

Wait, are customers suddenly turning into digital enemies behind your back? No - don’t take the title of this megatrend so literally. This refers to the fact that customers are now more empowered than they've ever been in commercial history. They’re incredibly informed, thanks, in a large part, to many of the other megatrends we’ve been talking about. This megatrend is also referred to as “the Age of the Customer”. In a customer-led market, centralizing customer relationship management and resource planning can be essential. Something like Dynamics 365 might help you out in this regard.

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Cloud computing

Cloud computing has really opened the gate to an astonishing amount of new services. It’s also helping companies increase the amount of data they can process and store. There are still a lot of entrepreneurs starting businesses without taking advantage of cloud computing. This seems a little crazy, considering how much money you can save! Without cloud computing, you can get cheap access to resources that would have cost you tens of thousands of dollars otherwise.

Mobile

Another great thing about cloud computing: it means your business can be a lot more flexible. Laptops, mobile phones, and tablets can all be used to access and alter work documents, as well as communicate with colleagues. You’ve also got to consider the megatrend of mobile from the perspective of the customer. Mobile use is, of course, another reason why we’re now in the Age of the Customer. They’re constantly connected. This gives you more sales and engagement opportunities - but it also means they’re sharper than ever!

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Social media

This is probably the most obvious of all the megatrends, something you’re probably already involved in. If your business doesn’t have a social media account, then you could be missing out big time. It allows you to engage directly with your consumers - and remember, it’s their age! - and affords you a lot of opportunities for promotion. Don’t make the mistake of just signing up for Facebook and Twitter, either. Instagram and LinkedIn are also great networks you could be using as a business.