In today’s digital economy, where all businesses are now tech-enabled, organizations globally are well-aware of how vital technology is to future success. To keep up with industry standards and stay ahead of competitors, businesses must make investments in their information technology.
One way to begin budgeting and strategizing your IT goals is by looking at current trends. Here a few tech trends to consider for your technology strategy and how they breakdown in terms of simple solutions for your organization.
Big Data is Erupting
Business technology strategy is becoming largely centered around all things data including collection, storage, security, sharing and more. Keep in mind for your IT budget that while the importance of data and intelligence is on the rise, the actual cost data and storage is decreasing, as described by Information Week.
When it comes to big data, the latest trends are with in-memory analytics and real-time analytics. In-memory analytics processes information stored in RAM versus on a hard-disk. This delivers faster results because RAM can typically read and write information quicker than a disk.
Real-time analytics, also known as streamlining analytics, is in hot demand because it is no longer sufficient to analyze data a week after it was produced, let alone even a day or an hour later. Businesses today need real-time, data-based decisions to stay competitive in the marketplace.
Clarification on Blockchain
BitCoin may be to blame for some of the confusion regarding blockchain. Blockchain, in its truest form, is an amazing invention. Don & Alex Tapscott, authors of the Blockchain Revolution (2016) describe the technology as this:
“The blockchain is an incorruptible digital ledger of an economic transaction that can be programmed to record not just financial transactions but virtually everything of value.”
At its core, blockchain is about trust as it is uneditable information that is secured and held by a distributed ledger. With blockchain technology, the reality is that data is not from one single entity alone, but rather made by many. Think of it as the game of telephone, but everyone must agree when a change is made.
Mobile Device Management (MDM) Solutions
Employees today are using their own mobile devices such as tablets and smartphones in order to access not only personal data, but corporate as well. This is commonly refereed to as BYOD or Bring Your Own Device. BYOD means that technology professionals must make new plans about connectivity, security, privacy and management.
This is what has brought MDM solutions to the table, or mobile device management solutions. MDM is software for technology departments to monitor, manage and secure everything that employees use in the workplace from laptops, tablets, smartphones and other electric devices. You can’t stop BYOD, however, with security and data breaches being so costly and damaging to the organization, you can be proactive and prepared to keep your organization safe.
The Year of 5G
Mobile is a top technology trend with no end in sight. 2018 is the year of 5G. It is up to 100x faster than 4G. Further, this is crucial because it infuses Artificial Intelligence (AI), Internet of Things (IoT), and big data all of which are working to automate daily technological experiences. This means that a much greater bandwidth is required in today’s business. To keep up with industry trends, and ensure your teams have the bandwidth to be as productive as possible, your businesses needs more speed.
Cloud Computing Platforms
This growing IT trend often provides businesses with faster and greater access to services and applications at a lower cost. It’s no longer an ‘if’ or even a ‘when,’ but a ‘what.’ That is, the platform IT chooses for cloud computing can vary based on public, private and hybrid. It’s also not an all or nothing proposition. Some systems and workflows are best suited to remain on your physical (in-house) servers.
Private clouds are single-tenant and generally internal. Public clouds are multi-tenant and you have less control of the underlying enviroment. Hybrid cloud computing has both public and private as components. Public clouds are often offered at more flexible pricing, which can be a more cost-effective solution for a small to mid-size business.
In an ever-changing technology landscape, it might seem like an overwhelming sea of information. But there’s no need to do it all today. Evaluate emerging technology breakthroughs, assess which ones are right for your growing business and create a roadmap to roll them out to stay ahead of your competition.