Businesses that want to succeed are in a constant race to adapt and take advantage of technologies while they’re still useful. To avoid falling by the wayside, a growing number of businesses are relying on technology to manage expenses, increase efficiency, improve performance and grow profitability. Here are latest Business Technology trends that businesses should adopt to stay ahead of the game:
1) Use of Big Data Technologies
Big data and advanced analytics are reshaping organizations and business processes. This year, businesses will increasingly move data projects analytics into production as they seek the capability to better interrogate data. This will allow those businesses to drive efficiencies and understand their customers. All businesses, determined to gain a competitive edge, will invest heavily in big data in 2017.
2) Interest in wearables
The explosion of interest in wearables is one of fastest rising trends in technology. Whether it’s helping to boost productivity, encouraging healthier lifestyles to cut health care costs, or monitoring employee safety, wearables are offering great promise for workers. In 2017, we expect to see businesses clamouring to find ways to integrate wearables into their day-to-day operations.
3) Rise of mobile payment
According to Deloitte’s 2015 Payments study, the use of cash is declining while other forms of payment are gaining popularity. The use of mobile payments is increasing, Small Business Trends notes. Mobile payment services, including Android Pay, Samsung Pay, and Apple Pay, are expected to become more widely understood by businesses that take in-store payments.
4) Cloud computing becoming the norm
Today, the technology around cloud computing is far superior to what was existing just five years ago, especially in the areas of security, scalability, adaptability and ease of use. We cannot deny that cloud computing is changing the way both large enterprises and small businesses operate. In Australia, an estimated 76 percent of businesses are utilising cloud computing, with 46 percent of non-cloud users planning to use cloud services in the future. In 2017, we expect to see increased acceptance of cloud computing in businesses.
5) Use of artificial intelligence
Artificial intelligence (AI) is becoming more widespread and many businesses are moving to put it to use. According to Forbes, artificial intelligence does not only cut costs but also expands business brainpower. In 2017, we expect an increasing number of business and brands to learn how to manipulate AI to boost their brands and enhance their customer interactions.
6) Rise of collaboration tools
Although many businesses still use email to communicate, use of collaboration tools (Google Hangouts, Skype for Businesses and Slack) are clearly on the rise. According to a recent survey by Spiceworks, 42% of companies of all sizes are taking advantage of collaboration tools and more are looking to adopt them in the future.
7) Internet of Things (IoT) coming to workplaces
The IoT is poised to change how people work and live as more devices across the globe become connected. According to Business Insider, the world will boast of 24 billion IoT devices by 2020. These devices are going to have a great impact on how we do business.
8) Rise of marketing automation
Marketing automation uses software and web-based services to implement, manage, automate, and even optimize various tasks and processes. It generates a web of connections between numerous marketing channels, such as email marketing, social media marketing, and content marketing. As of 2016, 49 percent of marketers were using marketing automation. In 2017, we expect to see many businesses adopting this technology.