2021 Trends in Business
2020 was the year that changed everything — from how we learn, work, socialize, and everything in between. Those changes are paving the way for the “new normal”, in business and pleasure alike. Keep reading to learn more about 2021’s business trends.
#1. Work from Home
Work from home, or WFH is here to stay. It grew out of a need when companies were forced to adapt to a remote workforce during lockdown orders and travel restrictions. A lot of companies noticed a spike in productivity, and employees benefitted from a better work-life balance. These benefits mean that WFH is likely to stick around in 2021 and beyond.
#2. The Importance of Data
Data volumes have experienced significant growth over the past few years. Companies that leveraged this data to understand their customers better and improve their decision-making are the ones who are now outperforming everybody else. Cloud solutions allow businesses to access data no matter where they are. It’s vital that businesses protect and secure data as they would other assets. In 2021, companies should focus on company-wide efforts to boost data literacy. This also requires investing in systems to effectively and efficiently process, analyze, and store the data as it streams into the business.
Another top business trend in 2021 is automation. More and more businesses are evaluating their processes to see where they can replace people who may not be adding any true value. We’ve already seen a number of shifts in this direction, including at warehouses, supply chains, chatbots for customer service, and autonomous vehicles, trucks, and ships.
In 2020, companies raced to find innovative ways to deliver service to customers who could no longer walk into brick and mortar stores. This forced companies to start considering how to deliver services digitally via augmented reality, virtual reality, and mixed reality. During stay-at-home orders, companies relied on deploying virtual avatars to allow customers to “try on”
eyewear, makeup, and clothes. This “try before you buy” with virtual interfaces will ultimately transform how businesses offer their services.
It may seem like the “future is here,” and we have the global pandemic to thank for that as it forced companies to innovate and lean on technology to keep operations running smoothly — something we will continue to see through 2021 and beyond.