Why is it important to keep abreast of technology trends when running an eBusiness? Comment on one recent technology trend, and discuss how it might affect an eBusiness

E-business is a very competitive and dynamic industry where trends, new technologies emerge on a continuous basis, making it very difficult for companies which are not proactive and slow to react or adapt to changes. Thus, in such a dynamic and fast paced industry, it is extremely important for companies to keep themselves abreast of technology trends in order to survive the onslaught from competitors and survive in the industry.

For example, one the recent trends have been the increasing use of epurses such as Paypal, etc. Now, in order to provide utmost satisfaction and convenience to its customers, it has become imperative for e-businesses such as shopping portals to accept such payments from epurses such as Paypal, Hyperwallet, etc. in order to survive in the industry.

Benchmarking is an important activity in the analysis of e-business web sites because by observing the standards set up the the most successful and best websites, one can critically analyze the websites with respect to various aspects such as security, features,etc. and can easily and effectively compare the quality of the website. It also helps to point out the mistakes/errors and weaknesses present in the website by comparing it with the benchmarks and standards, thus making it sure that the website being analyzed is following the best practices in the industry.