With devices becoming smarter and data growing exponentially by the day, it seems there is no stopping the rapid growth of technology. The incredible rise of artificial intelligence, the automation of practically everything, the increase in smart devices –we’ve all heard the headlines, but what do these trends mean for your business?
Using the latest technology in your business will allow you tap into the modern marketplace and help you streamline your company processes. With this in mind, here are some of the tech trends shaping the world this year, and how to fully utilize them within your business.
Utilize Big Data
The amount of data we produce continues to increase rapidly. By 2020, the digital information available will have grown from around 5 zettabytes today to 50 zettabytes. Nowadays, every action we take leaves a digital trail: data is created when our smart home devices communicate with each other, when we carry our GPS equipped smartphones, when we buy things online and even when we chat to our friends on social media. This ever-growing stream of information means we can now use data in ways that simply weren’t possible a few years ago.
So, how does this impact your business? Big Data is helping organizations all over the world to run their operations more efficiently and productively, and it’s revolutionizing almost every industry. In addition to shaping artificial intelligence, data science and the Internet of Things (IoT), Big Data also helps prevent crime, improve healthcare and even monitor the flow of refugees away from war zones around the world. Big Data can help your business understand and target customers, optimize business processes and assist employee training. For expert data management solutions, visit Bytes.co.uk.
Utilize IoT Technology
The term “IoT technology” refers to smart devices that are all connected through a single, remotely accessible network. For example, in your home, you may have a smart TV, refrigerator, and thermostat that can all be controlled by your handheld device. How could this influence your business? Unbeknown to many, these technologies provide incredible opportunities for growth, including new products and services, streamlined operations and automated decisions. Used in a strategic way, IoT technology can help you meet all of your business goals through customer engagement, business process monitoring, automated services and the production of Big Data.
By integrating all of your equipment on the same network, you’ll know where all of your data is, and you’ll learn in-depth metrics about your customers and their behaviors, as well as details about how your business operates.
Utilize Automation
Automating the processes in your business that are best suited to machines will free up manpower and save you both time and money. As any business consultant will tell you, anything that can be automated in 2018 – such as payroll, invoicing and data entry –should be. There’s a whole host of automation tools available on the web, some paid and some free. Another alternative is to install business management software that includes automation.
