Technology continues to reshape nearly every aspect of our daily lives. However, it’s also a powerful tool used by businesses to streamline or otherwise improve their operations. Businesses that invest in technology can differentiate themselves from their competitors and establish a stronger market presence. Here are a few of the top tech trends that businesses today are using to succeed.
The Internet of Things (IoT) allows businesses to collect and share valuable data on their operations. There were 2 billion devices connected to the internet in 2006. By 2020, however, this number is expected to increase to 200 billion, meaning that for every person on Earth, there will be 26 IoT devices. Businesses are now capitalizing on this trend by incorporating a network of IoT devices into their operations and using these devices to gather data for quality control, customer service or other purposes.
Software Development Frameworks
More than 100,000 software companies operate in the United States. Rather than following a linear approach with their projects, many of these companies now use a software development framework. Agile, for instance, is a framework that involves collaborative, ongoing and adaptive work. With agile software development, companies respond to concerns and issues quickly by releasing new updates.
Another popular software development framework is rapid application development (RAD). Pioneered by Barry Boehm under the name “spiral model,” it follows a similar approach as agile by emphasizing an adaptive approach. When developing software using the RAD framework, companies spend less time planning and more time adapting to the needs of the product’s users. Although it can be used to develop many types of software, RAD is particularly effective at creating high-quality software with user interface (UI) requirements. There are also RAD solutions technology to help businesses use this framework.
The mobile revolution is upon us, and businesses that want to succeed must use it in their operations. 95 percent of Americans own a mobile phone. Not surprisingly, many people use their mobile phones to browse the internet, play games and run apps. To connect with the ever-growing demographic of mobile users, businesses are updating their websites with a mobile-friendly design and developing mobile apps.
Software as a Service
The way in which companies sell software is changing. In the past, software was purchased almost exclusively as a retail product. A business owner would purchase the software from a local store, after which he or she could install on their computer. But there’s a growing trend towards the Software as a Service (SaaS) model.
With SaaS, the company sells usage rights of its software. The buyer doesn’t technically purchase the software. Rather, he or she rents it while paying a monthly or annual fee. For companies and users alike, SaaS offers cost-savings benefits that can’t be ignored. Companies don’t have to produce many physical copies of the software, and buyers can save by canceling their subscription to the software at any time.
Finally, blockchain is a tech trend that’s been gaining momentum in the world of business ever since the rise of Bitcoin. A blockchain is essentially an open record of transactions that are typically encrypted. Banks and financial institutions use the technology to detect fraud while real estate companies use blockchain to verify sales.
Tech trends come and go over time. Just because a trend is popular now doesn’t necessarily mean that it will be relevant in five years. Nonetheless, the tech trends described here have become essential for many businesses, and it’s doubtful they’ll fade from popularity anytime soon.
by: Mikkie Mills