Final answer:
Deloitte can assist the client in expanding revenue streams by recommending the creation of new products or services, improving existing offerings, optimizing operations, using data analytics, and exploring new market opportunities tied to the benefits of the new technology. A thorough analysis is essential for any viable financial recommendation.
Step-by-step explanation:
Deloitte, as a consulting firm, is tasked with identifying ways in which new technology could expand a client's revenue streams. This involves a thorough analysis to ensure the credibility of the proposals. The client can expand revenue streams by leveraging technology to create new products or services, enhance existing offerings, improve operational efficiency to reduce costs and increase margins, utilize data analytics for better targeting and personalization of marketing efforts, or enter new markets.
For instance, if the technology includes a novel data processing tool, it could be used to offer data-based insights as a service to other companies. If it's a manufacturing innovation, it could allow for faster production times and customizations, thereby attracting a wider range of customers. Alternatively, the technology might enable the creation of a platform for which subscriptions can be charged, thus opening up recurring revenue channels.
It is essential to not only recommend new revenue streams but also to conduct a comprehensive analysis to ensure that the recommendations are aligned with the client's business strategy and capabilities, and that they are financially viable.