3 Technology Trends for Digital Businesses to Be Aware Of
Posted by Erica Bell on August 15, 2013 in Business Software, Business Technology [ 0 Comments ]
Technology is advancing at a rapid pace. Year after year, new opportunities and new possibilities arise with engineers, developers and even marketers ready to make the most of them. Businesses can use the technology readily available to increase profits and organizations that create or use a digital solution, which is nearly every business in today’s market, need to be aware of three technology trends that are taking the world by storm. Harnessing these three trends and applying each to your own business will allow you to expand and refine your business and its processes.
Designing for Analytics
It’s no longer about acquiring data for business, it’s about harnessing it. Companies must design their products and services in such a way that the data collected will be the right data for their user to utilize. This is especially the case for software providers – they must design their software with the analytics, and key questions that will be answered with that data, the user wants in mind. The data a solution delivers must allow businesses to create new initiatives, refine processes, and make better decisions overall. While applications must meet functionality needs, they also need to be designed to deliver data that answers more of an organization’s questions.
- SMB Tip: Add data collection into the development process of your solution or ensure it’s incorporated into the applications your business uses so that you can use the insights to develop better strategies.
Real-Time Data and Decisions
It’s clear that data is becoming more important for businesses of all sizes. The right data can provide businesses with the ability to spot real-time opportunities, but only if the time between data acquisition and the ability to use that data for actionable insights is short. The timeline for data collection, sorting and analysis needs to be shortened. Advances in software and new technologies are providing businesses with the opportunity to accelerate the data cycle. Many of these solutions won’t break the bank either. There are newer, more cost-effective options geared towards small and medium-sized businesses (SMBs) that can handle larger amounts of data for a pace that’s closer to real-time.
- SMB Tip: Focus on improving your rate of response to data. While real-time data analysis may be out of reach for the time being, you should look to streamline and speed up the data-to-action cycle.
Social, Seamless Integration
Social collaboration within an organization is one trend that’s on the rise with no signs of slowing. Social, collaborative applications are now being used across entire companies. While email and video conferencing may be commonplace, internal social networks are increasing in interest and these types of platforms provide businesses with the opportunity to become more productive and more unified. Where this trend is really taking off is in its integration with business process and software. Social collaboration, across an integrated network, can lead to reformed business process based off those internal, organization-wide conversations.
- SMB Tip: Identify the core processes where social collaboration can lead to increase productivity, and then consider one or more solutions that will address your strategic needs.
People often talk about developing marketing strategies, but what about a digital strategy? Paying attention to these three trends can help you determine whether or not your business is at the forefront or falling behind in terms of business technology. Analytics, real-time data, and social integration across a company are three trends you can’t ignore.
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