Technology

Needs and Challenges

For this case, a regional clothing line with eight locations shall be considered. The business has lost quite a number of customers which has been due to emergence of online shopping and competition from other businesses who have been doing better than them. This in turn has minimized profits. It has also been a challenge to keep a track of all employees working in the different locations due to lack of a centralized system. A lot of time and resources have been wasted because managers have to go from one outlet to another in person to deliver information in person. These challenges can be addressed by adopting new technological trends for instance, use of the Human Resource Information System (HRIS) software, design a website and incorporate it with Virtual Reality (VR) option and chat bots, Machine Learning (ML), Internet of Things (IoT), IT outsourcing, use of Artificial Intelligence (AI), and use of voice technology to mention but a few.

For the business to stand a chance against other competitors in the market, then they should adopt these innovative technological trends. This will motivate both the employer and employees due to interactions made possible by use of self-service portals leading to a conducive working environment and thus maximizing on profits. Adoption of AI facilitates wise decision making and it’s easy to protect the company’s database from cyber theft. Interactions with the customers is made possible by a having a website where the business can get feedback from the consumers and this has a positive impact on what areas the company should maintain or improve.

Innovative Technologies

There are many new technological trends which the regional clothing store chain can adapt and improve. However, we shall only consider three of them which are, HRIS system, machine learning, and a business website.

HRIS System

A Human Resource Information System (HRIS) is a software which combines human resource activities and information technology and enables data entry, recording information, tracking of employees, payroll, and accounting among other activities (Davis, 2018, para. 1). Some of its common features include, applicant tracking, benefits administration, payroll, self-service portals for employees, mobile applications, performance management, and scheduling (Davis, 2018, para. 19). HRIS enables keeping a record of the employee details which include; names, home address, and area of specialization among other details. It also has the self-service portals which can be used as mobile application. This portal enables passing of information from the employer to the employees or vice versa. The Bring Your Own Device Trend (BYOD) has been accepted by many companies therefore improving workers’ productivity (Makela, 2012, para.2).Storing of information using the HRIS system is more effective than keeping written records which are prone to damages unlike softcopy which can be backed up in case the system fails. This also helps reduce costs of operation. The HRIS system also improves co-ordination in an organization which has many outlets. (Rietsema, n.d., para. 3).For instance, it is easier to co-ordinate the 8 different outlets from a central point and this reduces unnecessary expenses like travelling all the time when there is a need to pass any important information throughout the locations. Generally, the main purpose of HRIS is to reduce expenses of the company, and therefore maximum profits are attained.

Machine Learning

Machine Learning (ML) is an application of artificial intelligence incorporated in a system to give it an ability to learn automatically and improve from experience without human intervention. It begins with observations, experience or instruction, and then making of better decisions in the future (“What is machine learning?,”2017, para.1) ML uses self-teaching algorithms which learn about data and identify a particular trend so as to make predictions (Kinnear, 2018, para. 9). Adoption of this trend by the clothing business will have a major impact on efficiency and profitability. Due to its ability to observe customer behaviors, it can be easy to identify the best profitable opportunities and avoid unnecessary risks. Once the company knows the customers tastes and preferences, it easier to satisfy them by selling to them what they need. This helps keep customers and even attract more therefore the business continues making profit.

Business Website

It is a common trend for businesses nowadays to have a website where they can interact with their consumers. This has been made possible by use of chat bots. A chat bot is a computer program that simulates human conversation through artificial intelligence (”Chat bot,” n.d., para. 1). Integration of chat bots into the website provides the customers with instant answers unlike waiting for replies through email which takes some time. Chat bots are available all the time making them efficient. It is also to reach many customers at the same time (Singh, 2019, para. 12). Another popular trend is incorporation of virtual reality (VR) into the business websites to enhance data visualization where the customers can be able to watch the advertisement videos (Finch, 2018, para. 5). One limitation of this virtual reality technology is one has to own a VR equipment to watch these videos. VR enables the customer to experience a virtual tour inside the store and this attracts many customers therefore an advantage to the businesses to maximize on making profits (Singh, 2019, para. 15-17). Although this technology has not yet advanced so much, it is expected to be popular in days to come.

Assessment

HRIS System

HRIS software vary in cost due to the different sizes of companies. A small company cannot use the same type of HRIS software as a large company due to difference in number of employees and requirement of the company. The software is integrated into the system of the company and does not require additional equipment. Both the employer and the employee benefit directly from this system while customers are not affected directly by this system. HRIS system provides many advantages but the shortcomings cannot be overlooked. It is an expensive trend to adopt due to the initial cost of acquiring the software, cost of operation, and may require training of personnel on maintenance. This software is mostly ideal for companies with twenty five employees and above (Davis, 2018, para. 15). Despite these disadvantages, HRIS system generally improves the performance of a business therefore increasing the profits. Due to its organized nature, it can attract more shareholders to invest in the business leading to even expansion. It is a cost-effective solution though it might take some time before it is fully incorporated into the business.

Machine Learning

Machine learning is not very expensive because it is an application which is integrated into a computer. It is also easy to acquire and does not need complex equipment to function.ML mostly benefits the business and not the customers because there is no direct interaction. Machine learning has advantages such as; the ability to detect fraud before it happens, prediction of customer behavior which helps the company to focus and improve on those areas that might lead to loss of customers, automation of business processes which helps save a lot of time and resources, and making of good recommendations of merchandise (Kinnear, 2018, para. 11). All these advantages work for the benefit of the company and thus ensures profits. However, ML has also a few disadvantages for instance; it requires a lot of time and resources to make a good prediction or decision, it requires experts to analyze the data correctly and this could lead to increase in expenses for the company, and it may not always give a correct prediction. Despite the few disadvantages of using ML, it should be adopted for the betterment of the business (Soffar, 2019, para. 16-21). Stakeholders have invested in machining learning to help maintain customers and even attract more.

Business Website

It is easy to set up a business website because it requires a computer and a specialist. It benefits both the consumer and the seller in different ways. The seller is able to reach as many people as possible, therefore having a high chance of gaining more customers. The customers have access to information about the products they are interested in and can even order for them and thus saving them a lot time and resources which would have been wasted if they had gone to the store physically. It is a platform which can attract stakeholders due to its ability to be accessed by anyone from anywhere. It is a cost-effective solution which should be adopted by the clothing store chain.

Selection

The company should adopt the business website other than the other two trends. Creating a website is less expensive than buying a HRIS software or adopting machine learning. A business should select an innovative technological trend which will not incur the business a lot of expenses. It also takes a short time to design a website as compared to machine learning which takes a lot of time before a valid prediction or decision is made. HRIS system does not take longer time as compared to machine learning. Also, the website helps maintain communication with the existing customers and also the potential ones and thus giving a direct feedback to the seller in the shortest time possible. HRIS system is only used by the employer and employee and does involve the customer directly. Machine learning depends on observing the behavior of a customer to make a decision which might be false. Through the website, customers can also order for merchandise. A clothing store can easily deliver products to the customers easily because they are light in weight and can be easily transported. Therefore, unlike HRIS system and machine learning, a business website has many advantages to both the customer and the seller, making it the preferable choice.