September 15, 2015

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Digitalization: Trends to look out for

We can no longer deny the ‘digital presence’ in our lives. Right from cognitive machines being used to create personalized experiences with human beings to the astonishing proliferation of wearable devices, we have reached a stage where we feel more than comfortable in letting these digitalized manifestations dictate terms!

And this is just one aspect of a bigger change that has engulfed us. The technological disruption has seeped into the realm of financial matters and is beginning to augment choices related to economic decisions with increasing consistency. On another front, the concept of wireless health monitoring has been a given a new lease of life by the phenomenal growth of wearable health devices and has brought about a new paradigm for extending human life

It is pretty clear that this change affects us in more ways than we can imagine. What’s more, this change needs to be imagined by a modern 21st century enterprise in order to thrive in this digitally heightened landscape.  The challenge for them begins and ends with their customer, who over a period of time has become highly conscious and insightful about the way he/she interacts through technology

So not surprisingly, it becomes imperative for a modern enterprise to understand the importance of renovating digital experience for their customers. This in turn, requires an understanding of the latest developments which are driving the digital revolution.

We witness changes every day but some are more important than others. To zero-in on some of the digitalization trends which are most talked about:

  • Predictive and Prescriptive Analytics: With big data comes big problems! The complexity and interlinking of multiple technologies has necessitated a more powerful analytics platform that could demystify data overload and provide actionable insights
  • Internet Of Things: A result of proliferation of web connectivity. A smarter, connected, intuitive eco-system that has the power to reinvent every possible scenario in the digital landscape
  • Mobile payments: The next big revolution in the financial services domain. Carrying physical money is slowly becoming passé, to be replaced by digital wallets and mobile apps
  • Cloud Everywhere (SaaS, PaaS etc.): This term has been thrown around for quite some time but what’s amazing is how quickly this development has reached a tipping point. Now Enterprise and Cloud have become inseparable!
  • Wearables to the fore: Our love-in with wearables kick started with Google glass, which continues till this day and is expected to get stronger with the likes of Fit bit coming into the picture
  • Hyperscaling: Modern organizations need rapid development and deployment of applications. The need for infinite, virtualized data centers cannot be emphasized enough
  • Rise of Network orchestrators: The most novel and innovative organizations of the newest generation (read AirBNB, Uber etc.) do not own any assets or services but still manage to control the eco-system and provide intuitive digital experience. Welcome to the world of the sharing economy!