The technology business They find a niche and exploit it, they are versatile and have disruptive bets to stay in time.
So he comments David lati, EXATEC and commercial director of LDM, consultancy in logistics, supply chain and digitization.
In interview for Tec Review, say what the dataBy giving them a purpose, they become a useful product for business and that can improve people’s quality of life.
We also talked with Osvaldo Market, team lead developer at MavTek Inc, who assures that to differentiate a technology business from one that applies technology, it is necessary for the former to produce – by itself – 24/7, that is, even if you are sleeping.
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What are technology businesses?
Technological businesses are all those that are automated, that is, where people can satisfy their needs without having to interact, because the a large part of its processes are solved through technology, says Osvaldo Mercado, after having 10 years of experience in technology companies.
He explains that people often mistake a technology business With having a website or Instagram profile, however, these require someone’s personal intervention. Point out that this is a online representation, but not a tech business.
“An example of how a technology business works is if you click on a publication on social networks, website or app where I can book a hotel night, pay with my credit card or through PayPal and I did not speak to anyone, no I needed an intermediary person for this purchase ”, he details.
Technology companies are not the same as companies that use technology.
David Lati with his experience in the implementation of Big Data and Business Intelligence comments that the best example to differentiate a technology company from one that uses technology is the case of the automotive sector, which is supported by technology and that almost all of its processes are they are transforming digitally, but they are not themselves technology businesses.
Platforms such as Amazon and Mercado Libre are an example of companies that use technology to generate trade.
Lati explains that they are technology business for its strength in this field, since its business model has an emphasis on technology.
Another example of technology businesses are fintech, who use their value to generate value and create your own business model.
“Fintech companies are redefining and restructuring an entire industry, which is the non-traditional banking or financial industry,” he says.
He adds that it is a technological business that has a great trend in Mexico, especially due to the banking challenges that exist and the modernization of financial products that are being improved as a technological model.
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Big Data to grow businesses
When you give a name or a purpose to that Big Data, a technology company improves its processes and operates in a more strategic way in the market.
David Lati assures that when we give a path to Big Data, the technological business begins to grow, since it can give greater certainty, it is predictive, trends, statistics and probabilities for decision making.
The EXATEC in Computer Systems even assures that other interesting businesses can be generated through Big Data, to evaluate consumption patterns, prevent natural disasters, extraction of information for the prevention of diseases and for the personalization of treatments, aspects that we cannot see, but that are in front of us
“Actuarial models in surveys, through predictive algorithms, and with Big Data, you can cross all this with other data sources to generate a greater prediction, through the analysis of predictive and prescriptive algorithms,” he details.
Osvaldo Mercado of MavTek Inc believes that if a company does not make use of Big Data at this time, it is lagging behind in business, regardless of whether you have a technology business or not.
“An example: if the sale of fried chicken increases at a certain time and here we have the data that confirms it, you produce more at the time, day or season that are sold the most. Another example that surprised me is that of zoos in the United States, some already use Big data to know when they should increase the production of ice cream, “he says.
The profitability of technology businesses
David Lati from LDM comments that the profitability of technology companies depends on the goals they have.
That is, although there may be very large companies that their financial results are not necessarily good, that does not mean that they are not profitable, since their strategy is another: disruption.
“We have financial examples of very large companies like Uber, which has had very large financial risks, but whose business model is more forward-looking and disruptive,” he says.
Another example of disruption is that of e-sports. With video game competitions beginning to grow exponentially, betting models, this technology business found a niche that is having higher cash flows than some traditional sports.
Latio considers that the level of profitability of technology businesses, startups or technology companies that are growing depends on the use of the agile or agile methodology, with which they test what works and what does not work, what they like and what they do not like at the level. consumer.
“These big bets are being made small bets, the financial risk is always minimized and the probability of success increases, because the most important thing is that we have a changing world and a changing consumer,” says Lati.
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Entrepreneurs in technology businesses
Osvaldo Mercado recommends those who seek to undertake a technology business from scratch, first train or find a team of engineers to build what you want to materialize in digital
“You have to define which side you are on and start pounding. What I need? That? What type of engineering service do I need to hire? What programming languages do I need to learn to be able to do certain things? ”, He proposes.
Mercado says he has met many entrepreneurs who start digital businesses who choose to learn programming language, because they want to have some control themselves.
There are also those who go to agencies to develop the idea they have in mind.