Today, we are in the midst of a business revolution. Driving the transformation of business are three core technology trends, which have become top buzzwords in the business world: mobility, cloud computing and big data. SAP conducted a LinkedIn survey to find out what business people think about these three top trends. I will discuss the results below.
The proliferation of mobile devices, apps and operating systems, has got almost every company considering how to they can take advantage of expanding mobile technology. The growing consumerization of IT and BYOD (Bring Your Own Device) trend is bringing mobile devices and consumer apps into the enterprise, increasing workers’ productivity and enabling them to respond quickly to market changes and opportunities as they arise.
Mobility also lessens equipment costs and provides employees with a sense of employment and freedom with their increased access to information. As a result, workers are performing more tasks outside the office than ever before. According to the survey, 33 percent of business people spend 11 to 20 percent of their time working outside of the office, while 28 percent spend over 51 percent of their time.
However, while businesses are enjoying the benefits of workers’ increased mobility, there are challenges associated with it. One major concern for IT departments is the security of company information. This concern can be resolved by developing and enforcing policies and standards for device management.
The second challenge is the impact that mobility has on employees, who often struggle to maintain a work-life balance. BYOD has extended the work day, such that we are no longer witnessing the standard 9:00 to 5:00 work hours. For example, one participant stated, “I work at home…so it is easy to work all the time.” Another claimed, “I clicked over 51% cause I need to sleep at some point and I usually do that at home.”
The volume of data available to enterprises today is overwhelmingly large and growing dramatically every year. The frequency that data changes and the dissipate sources of the data, like mobile devices and social media, is creating an overflow of unstructured data. Behind this massive amount of data is essential insight about customers, operational costs and other key aspects of business.
Businesses who exploit this data by analyzing it quickly and comprehensively are able to make more informed decisions faster and build competitive advantages. How do you process the hundreds of billions of rows of data? In-memory computing helps businesses manage, process and analyze the vast incoming, very complex, data.
By harnessing big data through analytics, businesses experience several benefits that are key to businesses’ success. The biggest benefit, according to 26 percent, is better information and greater operational efficiency. The second most valued benefit of big data is remaining competitive (24%). As one respondent puts it, “Information is knowledge, knowledge is power.”
Cloud computing is helping businesses across industries and of all sizes compete at a higher level. With cloud computing, traditional, lofty on-premise software and systems that require huge investments are no longer necessary.
The cloud enables companies to share, store and consume resources easier, at a lower cost and with greater flexibility. It also allows for high-performance infrastructures to be available on mobile devices, earning widespread adoption.
Cloud computing has also allowed for more efficient and effective business processes. For example, current in-memory computing technology has driven down transaction times from something that might have taken 45 minutes to six seconds.
Many businesses are already taking advantage of cloud computing and are reaping the benefits. According to SAP’s survey, 28 percent of business people find elasticity and scale to be the greatest advantage of cloud computing. Additionally, 22 percent say ROI or cost efficiencies and increased access to information are the top benefit.
The tremendous benefits offered are inspiring more and more companies to adopt cloud solutions and propelling the growth of the cloud computing. According to a Gartner forecast, the cloud market is expected to grow 25% year over year.
Which of the three trends is having the greatest impact?
Forty-one present cite cloud computing as the trend that is having the biggest on impact on businesses, followed by mobile (25%) and big data (18%).
With these three building blocks, businesses are running better than ever before, experiencing increased agility, productivity and efficiency while cutting costs. Many companies have begun to leverage these technologies to drive innovation.
One great example of this is SAP. SAP has not only uses cloud computing, big data and mobility to drive its own innovation, but is helping other companies become best-run businesses through the technologies. What impact do you think these trends are having on business today? How is your business using them to innovate?