Digital Technology

What is digital technology?

The use of digital platforms or resources to support the business.

What is e-commerce?

A digital technology that allows businesses to sell goods and services online.

What is data mining?

A digital technology that enables businesses to gather data and search for trends and patterns.

What is big data?

A digital technology that allows businesses to collect and combine data from various sources.

What is Enterprise Resource Planning (ERP)?

A digital technology that enables businesses to use central software to manage various activities like stock management and sales data.

What are advantages of using digital technology?

Provide new opportunities such as international sales via e-commerce and access to data for improving marketing.

How does digital technology impact HR?

It may require training for staff to use new systems, affecting human resources.

What is the impact of digital technology on finance?

Digital technologies can require significant investment, affecting finance.

How does digital technology impact marketing?

It allows access to new sources of data for analysis and research.

What is the value of digital technology to businesses?

While offering opportunities, it can create threats, such as increased customer complaints on social media.

What are the advantages of e-commerce?

Allows businesses to reach international customers, increasing sales and revenue.

What are the disadvantages of e-commerce?

May not be suitable for businesses where customers want to see or try products before buying.

What are the advantages of big data?

Offers access to large amounts of data regarding business aspects.

What challenges does big data present?

Poses legal requirements for data storage, processing, and transfer.

What are the advantages of data mining?

Makes recommendations to increase sales volume and revenue.

What are the challenges of data mining?

Presents legal challenges regarding data storage, processing, and transfer.

What are the advantages of ERP?

Supports standardization of information, aiding accurate decision-making.

What are the disadvantages of ERP?

Implementing ERP can be costly and may require specialized skills and knowledge.