The past decade has witnessed drastic advancements in the digital domain with this revolution giving birth to new technologies that have helped to define new approaches to business as well as individual needs.
Interconnectivity has become the success mantra with the boundaries becoming non-existent as more people are connected through global communication systems.
Current technologies are smart, dynamic and is capable of providing support for various applications. However, the expected levels of technical sophistication is still awaiting achievement. While customers desire powerful devices with impeccable applications, businesses prefer to possess and develop cost effective technological solutions that would help them to cope up with complex technical challenges.
The presence of analytical tools made more feasible with its integration with global internet communication systems has enabled businesses to evaluate their performance dynamically. Now they are able to see their levels of interaction with customers with their responses forming the base of the analysis conducted. Social networks have further increased the need for adding storage to the systems due to the fact that they have contributed to the creation as well as sharing of data throughout the world. Research studies estimate data storage requirements to go up to 35 trillion GB by 2020 itself. This requisite represents an increase of more than 40% for our current storage capabilities. With such capabilities it is but obvious for business intelligence to gain importance as being one of the key determinants of strategic decision making processes.
Smart devices (phones and tablets in majority) have become an integral part of our lives. The reason behind their widespread popularity may be attributed to high levels of portability offered by them. In simple terms, the possibility of remaining connected even while being on the move has brought into effect a whole new level of convenience that is playing a key role in redefining the way in which social connectivity and business communication is maintained. As is evident in other sectors, emerging markets will pose stiff competition mainly due to the fact that the absence of legacy systems will lead to faster profit generation from the integration of new technologies whenever they are made available.
The developments in mobility solutions and the integration of global technological systems would lead to the convergence of industrial realms where the differences in geographical boundaries, industries, products, demographics and economies would become blurred. Advancements in e-commerce facilities have literally brought about the transition of markets from being physical establishments to virtual hot-spots. This does not indicate that physical markets have become non-existent, it is only the approach that has been shifted to the virtual domain by means of which businesses are able to make their presence felt on the global platform. In keeping with these trends, it is not wrong to expect web semantics in the near future to provide the perfect amalgamation of web, machines and human beings.
Cloud computing in another key aspect of mobility solutions which enables dynamic working capabilities over the net with access being granted to multiple users. Since cloud computing offers dynamic access to data, simultaneous work capabilities are provided to the users even for a single file. Forecasts made by Gartner state that social networks would account for the primary business communication protocol for more than 20% of global employee strength. Governments are also joining in on this race for technological supremacy wherein they are not only providing the funds for the development of the required infrastructure, but they are also concerning themselves with the establishment of appropriate legislations by means of which the privacy of the users may be ensured.
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