ROLE of cloud computing and its impact on consumer behavior in financial sector

Abstract

Cloud computing is one of the most potent innovations that has piqued the interest of technologists worldwide. Cloud computing offers several advantages, but it also poses numerous security threats that no business can afford to ignore. Cloud computing has significantly influenced consumer behavior and therefore the sales and marketing outlook of companies. In Cloud Computing, customer relationship management (CRM) has been transformed in ways that benefit both consumers and the business model. Due to cloud computing capabilities and developments, the customer have swiftly acclimated to convenience, quick turnarounds and easy alternatives for purchases. The behavior of consumers was severely influenced by cloud computing. In order to keep up with other competitors on the market, marketers have been forced to respond even more to consumer needs, since companies are in the middle of developing cloud computing systems to make consumers shopping even faster and convenient while simultaneously monitoring consumer behavior. The management of customer relationships is becoming increasingly efficient, with dependable and highly comprehensive data showing consumer behaviors. Storing and assessing that date is essential for sales and marketing because it helps with direct sales efforts and can also reflect emerging market trends, new market forces and ways for businesses to maintain a competitive edge while other companies struggle to develop ways to get a head start on using cloud computing systems.