2021 is coming to an end. It was another moving year for organizations, being confronted with all of the challenges that came along with the pandemic. With these challenges, organizations were required to adapt to new developments in order to remain doing business. Adapting to new developments is obviously an important aspect in doing business: you constantly need to adapt to new consumer trends and technologies that can increase your organization’s efficiency. In order to do that, you need to be flexible as an organization. This is however not as easy as it looks like, the pandemic being a great example. This article will describe some key developments for businesses in 2021. Moreover, we are looking forward to 2022 and explaining how you can increase your overall business efficiency by adapting to a new technology.

Three business developments in 2021

  1. Work from home has become normal

Probably the most notable business development in 2021 was the fact that many employees were asked (at sometimes, even required) to work from home. Though some employees were happy that they didn’t need to travel to work anymore, others were faced with boredom and monotony while working. For some people, this boredom and the lockdown in general led to problems in their mental health, making it more difficult for organizations to keep their employees’ motivation up. On the short term, organizations were also required to adapt to the legally obligatory trend by changing operations to a remote workforce. Some organizations experienced a higher productivity with this remote workforce, while others experienced the opposite.

  1. Using data as an asset

The impact of data on businesses has increases significantly over the years. Businesses that managed their data properly were able to better understand their customers’ needs and to improve their decision-making, which resulted in competitive advantage. Moreover, proper data management is a first step to more possibilities: when your data is neatly organized, you’re able to increase your overall business efficiency with certain software tools that use artificial intelligence. Such tools require proper product data, and by feeding them organized data, these tools can perform certain processes extremely efficiently.

  1. Automation of processes

Another popular business trend in 2021 is the automation of business processes. This could go hand in hand with the previous development of using data. As mentioned, a properly organized data set can contribute to increasing your organization’s efficiency. Automation tools use data to generate unique and qualitative product descriptions, to categorize products and to enrich your product data by extracting information from other sources. These tools will contribute to a better efficiency, but more importantly, a lot of time that otherwise would be spent on manually performing these activities can be saved. In this way, lots of valuable time and unnecessary costs can be spent on other business activities.

Adapting to new trends with PowerSuite.ai

A first step is to acknowledge that a trend is going on. It gets a little more difficult when you want to adapt to such new trends. Especially when it comes to new technologies, it’s expensive to implement such a new technology, and then your employees need to actively adapt to it, which will probably take some time. Luckily, not all technologies are difficult to adapt to. There are some software tools out there that have a user-friendly interface which allow you to work efficiently and without any troubles. PowerEnrich.ai is such a smart tool: it enables you to extract information from images, PDFs, and websites. You can use this information to enrich your own product data and after that, you could use a tool like PowerText.ai (another PowerSuite-solution) to generate product descriptions. Or use PowerClass.ai to let algorithms categorize your products in an instant!

Especially for retailers and wholesalers that sell over 1,000 products, these solutions could be beneficial. For these companies, it’s definitely advisable to use tools that run on AI in order to save valuable time and unnecessary costs. Are you a retailer or wholesaler with a large product range and are you still enriching your product data manually? Or is your data already properly organized, but you don’t exactly know what to do with it?

Then take a look at our PowerSuite.ai solutions!

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