22-1 OM Activity 4.

Describe at least one application of modern technology in each of these service

industries:

 financial services

Online banking- requires a computer or mobile, and the internet lets users do their
financial transactions using this technology. This is helpful to financial services for
their customers since it is convenient. The customers don’t need to go to the bank
anymore to deposit and they can monitor their accounts every day.

 public and government services

Advance analytics- is a data analysis methodology that uses predictive modeling,

machine learning algorithm, and other statistical methods to analyze business
information from a variety of data sources. Advanced analytics helps government
agencies with data-driven decision-making and reduces time to impact their core
mission. And it also improved its services by digitizing its process which ensures
faster and easier collaboration between agencies and departments.

 transportation services

Developments in transportation technology- These developments have been

helpful in ticket purchasing. Modern travelers now can go online and make online
bookings and search for different websites to find cheap alternatives. These
developments are also helpful in air travel securities. Introducing 3D full-body
scanners and other facial recognition and fingerprinting technologies prevented
illegal items from being smuggled onboard and used to confirm the identity of those
entering countries.

 hotel services

Smart appliances and home automation solutions- With automated home

appliances like temperature control, lighting, alarms, and TV has improved customer
satisfaction and improved services while reducing overheads at the same time.
Social Media- With the help of social media and technologies, it allows hotels to
target their prospects and customers better in real-time while also reducing their
marketing costs. And lets hotel increase their presence by enhancing their social
media presence through brand ambassadors and influencers.
References:
https://institutes.kpmg.us/government/campaigns/advanced-
analytics.html#:~:text=Advanced%20analytics%20helps%20government
%20agenciea,impact%20on%20their%20core%20mission.&text=Data%20is%20the
%20new%20ccurrenc,better%20carry%20out%20their%20missions.
https://www.techtarget.com/searchbusinessanalytics/definition/advanced-analytics
https://www.investopedia.com/terms/o/onlinebanking.asp
https://www.fingent.com/blog/how-hotels-are-using-technology-for-competitive-
advantage/
https://www.jrpass.com/blog/how-technology-is-changing-transportation