Posted by Vi Hughes on Mar 26, 2019
This Tuesday we were given a very interesting presentation by Larry Vanderveen, from Telus Broadband Technology, and Scott Roberts, from Telus Communications. Scott spoke about the changes that are coming to small business as a result of the shift towards internet technology and also the shift in customer demographics towards a younger age group.  
 
Telus is currently in the process of upgrading it’s copper based transmission system to a new glass fiber network. Their new network will bring the technology into every home in Edmonton, whether they are a Telus customer, or not. The new network will be able to carry much more data. Data usage has been growing at a rate of thirty percent per year. People have shifted from using physical storage for music, video and many other types of information to using web-based storage and this in turn necessitates the transfer of large amounts of data from web storage (the ‘cloud’) to the user.  Only a few years ago the biggest user of web storage was big business, but that has now filtered down to the individual.  The next wave of change will be the personalisation of all of this data by the use of artificial intelligence in marketing so that people can receive only the information that may interest them personally. The transmission of all of this data requires a much larger data ‘pipe’. Telus, in one internet minute, currently sees over one million facebook log-ins and over eight hundred thousand online purchases. In terms of businesses, online shopping is now the lifeblood of many.
 
Millennials, those between twenty-two and thirty-six years of age, are the up and coming customers of the future. They make up thirty seven percent of the current workforce and have a very different approach to how they look for and buy things.  They prefer to do their research online and compare items using the opinions of others that have been posted online in the various social platforms such as facebook. They use their smart phones for nearly all of their online interactions, so this means that applications specific to mobile platforms are needed. They also do not use credit cards to purchase items, preferring to use debit instead. They tend to be debt averse. They do a lot of their purchasing online, so businesses that want to sell to them need to have an online presence in several different ways. This can be done much more cheaply now than a few years ago and there are many companies that can help with this. The world of technology keeps changing and we need to keep changing along with it.