New and Pressing Business Technology Solutions
Companies want to connect data across various departments so they can make predictions and drive improvements. This need for connectivity has led business technology teams to create and adopt new solutions in sales, management, finance, risk management and security.
Following are a few of the most notable expected solutions from businesses for the technology sector as it continually evolves to meet business needs.
Personalized Customer Experience
Companies already expect IT to deliver great websites, which allow customers to navigate with ease. They look for transparency in financial transactions and responsible data management. Now, IT must find ways to enhance the customer experience through an improved and personalized customer experience.
Customers expect technology to know them by name and location, understand their preferences, and cater to their needs. The ever-increasing demand for segmented useful data and interactive user experience will lead to more machine learning and augmented reality to engage customers in products and services.
Improved Cyber Security
After the Cambridge Analytica scandal, companies are much more aware of the importance of safeguarding customer data. The recent EU General Data Protection Regulation also indicates governments are now taking data security seriously.
Unfortunately, legacy security technologies aren’t up to the task of controlling the scale, speed and sophistication of today’s breach attempts and they’re very costly and lengthy to remedy. According to IBM's 2018 Cost of a Data Breach Study
, U.S. data breaches are the most expensive in the world, averaging $7.91 million, plus notification costs of $740,000.
As a result, cybersecurity is a rapidly growing field. The Center for Cyber Safety and Education predicts 1.8 million unfilled cybersecurity positions by 2022 as threats grow and stakes increase.
Automated Back Office Business Technology Solutions
Companies want to focus on growing their business, not mundane backend processes such as accounting, HR, inventory management, and marketing.
The attraction of automating complex, repetitive, and time-consuming processes for business is that it is more efficient and less expensive. We can expect machine learning to play a principal role in automating human-centered design and user-friendly accessible tech.
IT for the Entire Enterprise
Companies want to rely on IT professionals throughout their business enterprise. Consequently, IT will focus more on tasks to accomplish goals rather than departmentalized routines.
Increasingly, companies rely on IT professionals for more than technological expertise. It has never been a better time to learn business skills and combine them with an IT skillset. It’s great for the company and even better for someone in IT because it makes them more valuable in a fast-paced ever-changing field.
Cloud computing continues to provide value to companies because it offers services without the need to invest in expensive software and hardware or system maintenance tasks like managing backups and software updates.
More companies want to use the pay as you go model because it offers flexible consumption, deep analytics for business insights, enhanced customer relationships, and lower overall costs. Cloud computing will continue to grow in new and unexpected ways.
Better Data Management
How we handle data continues to change radically. Companies want to break down data silos so they can connect the dots for better business decisions.
An increasing number of devices and higher data volume, plus the growing emphasis on energy conservation means IT must find ways to improve data management as well as increase efforts to reduce the IT carbon footprint.
We’ll continue to see more innovative data management practices, new storage methods, and powerful analytics. And because technology is so power hungry, we’ll also see a strong push towards energy conservation.
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