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Technology and Business
Tel K Ganesan
President & CEO-Kyyba
Tuesday, October 20, 2015
Today the technology innovations are advancing at an amazing speed and they are profoundly altering the business landscape. A quick sneak peek into the technology shift shows that, delivery platforms are changing, communication channels are being reinvented, and today it is the consumer world which is driving technological innovation. The world's stock of data is doubling, smart devices are everywhere no matter where you look, payments made via mobile phones are hurtling, social technologies are becoming powerful business drivers, 'the cloud' with its ability to deliver digital power at low costs is changing the profile of corporate IT departments; and consumerization is happening and has become a part of the IT language. Big Data, Next- Gen Mobility, Social Media, Cloud and Consumerization are the talk of the day. These new technologies come with new demands for greater information access and the businesses are eventually forced to continually reinvent themselves.

Big Data: Enterprises have an accumulation of data but businesses have not been really successful to tap into it, handle this magnitude of data or unearth valuable information from them. Big Data uses innovative technologies to tackle and solve new and existing business problems smartly and quickly. Business leaders need to tap the right data to effectively define the strategic direction of the enterprise.

Mobile: Today people pay their bills, manage travel, read news and communicate easily using their mobile devices. This information is now available real time with just a click on highly innovative new mobiles and Web Apps. The current situation is that you feel lost and disconnected with the world without smartphone's and mobile devices. Hence adoption of the smart devices at work can help unleash innovation, connect with customers in whole new ways and get the work done quickly.

Social Media: Facebook, Twitter, LinkedIn, Pinterest and Google+ are the most commonly used social media platforms. These platforms enable us to connect, communicate, and collaborate via social conversations, photos, audio, video, and more with anyone in the world quickly. Businesses can tap its power to market and sell its products, reach consumers and connect millions of people directly. Enterprises should learn to navigate this new landscape and harness the power of social media platforms to drive their businesses.

Cloud Computing: Earlier generations had to run programs and applications from software downloaded onto their PC or server, but now Cloud has made things easier. A simple click on the 'Install' button in an app store enables us to find and acquire new software. Businesses are moving to the cloud. Cloud computing increases efficiency and offers many benefits like disaster recovery, flexibility, automatic software updates, increased collaboration, document control, security and above all cap-ex free as cloud services are mostly pay as you go.

Consumerization: Consumers are now the primary drivers of products and service designs. The old GUI is being uprooted by touch based interfaces in next-gen mobile and new consumer applications which works smarter and is available everywhere. Enterprises are now forced to rapidly consumerize their application portfolios, imbue IT services and designs by enhancing the user experiences, improve the design approaches and reorient their products and services based on fresh ideas from the consumer world. This is indeed a major IT industry shift.

The technology world is no longer driven by the enterprise world, instead the consumer world has taken precedence in recent years. These technological developments are transforming the way companies carry out their business. The only solution to cope with these technological changes is to EMBRACE it. Your business should be ready to adopt or develop new technological processes to go hand in hand with the technological changes in order to survive the existential threat of changing technology. Businesses should plan these current IT tech trends effectively to meet market demands. Technology can help businesses achieve success, but leaders should ensure a perfect union between business and technology. Technology, a boon or bane to your business truly depends on how well business leaders choose a technology to resolve the problem and skillfully navigate and implement the same. Leaders should avoid the temptation to deploy technology without assessing its value and offerings. Selecting the right technology that meets the needs of the business, and aggressively managing technology so that it changes with the business is vital.

Crystal clear is the fact that, it is these technology advancements and new digital era that decides the future of your organization and effectively incorporating the right technologies to weave your businesses, employees and customers together. The blistering pace of innovation is reshaping the entire business landscape. Remember! Technology is the fuel to your Business Growth. Keep up with the technology. Plan, Innovate and Modernize!

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