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Explain how use of technologies can significantly reduce cost of

operations and improve profitability. at least 150 wds

User Ramo
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5 votes

Final answer:

The use of new information technologies like the Internet, GPS, and GIS can lead to cost reductions and enhanced profitability through online commerce, optimized logistics, and improved strategic decision-making.

Step-by-step explanation:

The incorporation of new information technologies can lead to significant cost savings and increased profitability for businesses. For example, the Internet has revolutionized global commerce by allowing for low-cost communication and data exchange. Companies can operate online stores with minimal overhead compared to traditional brick-and-mortar locations, and they can automate customer service with chatbots and other online tools.

Similarly, the Global Positioning System (GPS) can optimize logistics and supply chains. Companies can use GPS technology to track deliveries in real-time, reducing fuel costs and improving delivery times. This increased efficiency not only cuts costs but can also enhance customer satisfaction and loyalty.

Geographic Information Systems (GIS) enable businesses to analyze and visualize data related to geographic locations, facilitating better decision-making and strategic planning. For instance, GIS can help in determining the best locations for new stores or optimizing marketing campaigns based on demographic data, leading to better resource allocation and increased sales.

User Frank T
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