There was a time when people thought that brick-and-mortar retail would shrink or perhaps even vanish. But, digital technology is transforming traditional retail, instead. Smartphones are actually driving in store traffic. The smartphone has become a retail assistant, guiding purchases and answering questions like an electronic sales associate.
For the first time in a long while, the human race is undergoing a social change as profound as the invention of the moveable type printing press. That change is due to digital technology. IT has not only changed the way people interact with each other, it has changed the way people think about the world, this is especially true of the millennial generation.
Millennials define success rather differently than their parents. Yes, they want to be debt free and financially independent, but they are far less inclined to sacrifice their passions in pursuit of those goals.
The increased sophistication of digital technology is changing the Internet. Fewer and fewer people are searching merely for entertainment and people are increasingly using the Internet as a data archive and communications platform. Much of this is due to the advent of mobile devices that link people to the cloud and each other.
Millennials, those born between 1980 and 2000, are a unique generation. They are the first generation to be born into a truly digital world. They have an intimate relationship with technology and this relationship influences everything they do and think.
A faulty digital product can have disastrous effects on any organisation. These effects go far beyond the expense of correcting the software application. At the very least, poor software performance will get in the way of staff effectiveness. It can cause businesses to waste resources in work arounds that increase cost and impede business activity, not to mention cause immense customer dissatisfaction and increased impact on call centres.
Bugwolf has been selected in the top 6% to battle it out for the 2015 best startup crown at Web Summit PITCH.Web Summit is looking for the most promising startups to present before their distinguished panel of investors and influential media, and we made the short list from a massive 1,300 applicants!