Technology and Innovation Flashcards
1
Q
What is innovation?
A
Process of adding a new product or significantly improving an exisiting product/process.
2
Q
What are the three concepts of technology and innovation?
A
Robotics, Big Data and the Cloud.
3
Q
What are the pros of using robotics?
A
Quicker and unlikely to make mistakes.
4
Q
What is big data?
A
Uses wide variety of sources to collect/analyse information.
E.g. Shopping habits of a customer.
5
Q
What are the pros of using big data?
A
creates approapite marketing stratergies, improve customer service, improve product development and improve human resources.
6
Q
What are the pros of using the cloud?
A
Allows business to access resources from any location as long as you have a computer.
