We might not even be aware but our digital world is getting affected with an emerging technology then and now. And located in the heart of this change is the disruptive technology that has been replacing the existing technology, creating an all new industry with its inception. Change is surmised to be good but often times the technology that gets into existence might have some performance problem or might be lacking of proper clarification that is generally expected of it.
Let us have a look at some of the examples of disruptive technology
The Windows operating system replacing the old DOS, Emails replacing the old letter process, Laptops replacing the conventional PCs, Cloud computing replacing the hard drive or Pen drive storage, Mobile phones taking the place of landline connections, all these are some of the most drastic changes that have shaped today’s modern business world to its extent.
‘Disruptive’ in its simple meaning means change. This signifies that when such a technology is introduced among organizations, it manipulates the functioning of a business, forcing the businesses to take another alternative routes in accomplishing their tasks with success to avoid the risk of getting out of race in this competitive market.
Let’s explore some of the benefits of deploying disruptive technology in your business operations.
- When you employ something new and innovative to your existing services, it will definitely help your growth in the market, better data management will become your priority. If you are one the foremost users of the newest technology, then it will definitely keep your head above the water and your reputation higher among all.
- It is true fact that if the disruptive technology when used in an appropriate environment can return immediate profitability with a high return on investment for your business.
- Sometimes, you get lucky and implementation of the latest technology does not need much of any new setup or infrastructure. This brings the latest innovation to your services at a reduced cost and better data processing.
- If you are a newbie to this business world and working with a latest technology available in the market, then it will make your entry smooth and give you a strong footing in this busy market.
- A smart businessman can make some smart moves in utilizing the latest technology and recognise the golden opportunities it offers on its way by means of data presentation and analysis.
- You are out of the reach of your competitors when you are working on a technology far above the reach of their capability at that time. This even makes the initial acceptance of the technology very easy among your customers. This will help in saving your profitability and earn higher revenues in return.
- It might smoothen up the working of your customer’s operation and he will get familiarize with the technology’s existence. His acceptance with the newest feature can help you in gaining more number of customers like the rapid use of cab services like Uber or Ola preferred over traditional cab service.
Though the advantages are sufficient to prove its successful existence, there have equally been some problems with the advent of such disruptive technologies.
- With the incoming latest technology, it becomes a compulsion for the industry to halt their ongoing operations and continue with the latest one. This creates a hindrance in their project and sometime leads to heavy loss as it becomes necessary to discontinue or stop the entire operation abruptly. Thus, it is a loss of hard work as well as cost.
- If the organisation has created a solution or product with the latest technology, it is not necessary that it will be a hit among customers. Since, they are not familiar with the system at all, they might be forced to reject the product for one and all which will definitely lead to a huge loss in entirety.
- The competition is fierce and when you are coming up with any new technology for your product, it might be already be in existence for any other industry. It might also be possible that you might not carry enough resource that will make it successful. Thus, it becomes a risk in adopting such a technology, whose future you are not aware of. Make a smart decision whether your organisation can take the brunt of this new technology and move forward with that decision.
- A knowledgeable resource and manpower is required when you are going to work in this new environment. For your product to get successful, your professionals should be sufficiently trained and able to carry out the operations with ease. But, this is not the case when your organization is driving low on profits. You need supervise your finance and then think about working on that technology.
- It is tiresome work to promote your latest product when you have abundantly marketed your previous one and have to start afresh with this one. This takes a toll on your budget and you have to make plans to strategically distribute your finance among other.