New technologies emerge every year, but we can hardly say we do not need them. On the contrary, they fit the market needs. Developers use these technologies to optimize products and services, add new features, and to make their solutions affordable, quick responding and easy-to-use. In one of our previous posts, we wrote about five extremely challenging trends of this year. This time, we would like to focus on big data and discuss why this technology is the core of every modern business, no matter if it’s Internet of things (IoT) or human-driven data.
IT continues transforming traditional industries.
There is tough competition on the software solutions market and the app developers do their best to serve their customers. The apps aim to solve particular business tasks more quickly and effectively, often in an integrative way (for example, mobile coffee payments based on near field communication (NFC) make it possible to reduce line-ups and collect statistics on customers’ behavior).
We take 24/7 accessible automated services for granted as soon as we get used to them. We love when services start supporting new options. We are able to find a solution for almost every business activity. The issue is finding the appropriate service which is required by the client. If there are no available solutions, custom app development can offer a solution to your needs. Read more about this in our blog post Mobile Applications Solve Problems of Small Business.
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Successful apps and services have smooth targeting, which means that their features are designed to satisfy the demands of a particular audience in the best way. For example, Network of Communities’ modules make it possible to build your own secure network which can even be invisible for other Internet users. The RocketRoute app helps aircraft pilots during the whole flight process, from planning, to filing the flight plan, and to landing. This solution aggregates information such as weather, winds, Notices to Airmen (NOTAMs), maps, and fuel consumption, generates the flight plans, and files them to authorities. Moreover, with the app, pilots can track their flights and log them.
This means that the more customers apply for software and the longer they use it, the more data it accumulates. Software solutions gather an immense amount of information (called big data) which can be used to improve businesses’ weak points. This is why the methods of making this data relevant are going to be the next big thing for IT.
The B2B playground: From prophecy to deep data analysis-based decisions.
Cloud computing, big data management, artificial intelligence – five years ago all these technologies were mostly available for IT companies or big corporations. Now, they are common in many industries, thus, helping even small businesses reach more clients as well as save their time and efforts.
New sales channels like e-commerce and m-commerce make it possible for more people to earn revenue from entrepreneurship or from their hobbies, thus, increasing the opportunity for successful market entrance.
The data that businesses collect throughout the sales process is what makes their Internet identities matter as it makes more tracking, advisory and assistance tools available even for those individuals. For example, the loan services emerge that offer business financing up to $100,000 within several minutes. The decision is usually made automatically based on entrepreneurs’ activities. Artificial intelligence determines the interest rate and amount of a loan considering your Facebook profile and your payment account activity (Amazon, eBay, PayPal, etc.) to make sense of your business data.
This way, the service is more flexible (and thus successful) in comparison to traditional tools as it uses the current state of affairs, not just an entrepreneur’s credit record, and does it far more quickly than the banks can by relying on new information sources. On the other hand, with Kabbage’s help, entrepreneurs can also see how healthy their businesses are and whether they need extra improvement.
Therefore, big data creates value for trusted sources and your online identity matters too. We find it very convenient.
The B2C playground: Promotion through contextualized user experience (UX).
Doing business on the Internet has become more social than ever because everyone, in addition to Amazon and e-Bay, has accounts on Facebook, LinkedIn, Pinterest, and Twitter and can use them to promote their own products or services and receive early feedback which can be seen by other prospective customers.
The IoT technologies create a contextualized UX based on data which had been unavailable previously. A brilliant example is Bluetooth low energy (BLE) beacons, which should not only help customers navigate inside shopping malls and parking garages, but also gather information on the main points of interest and customers’ behavior there. However, there are many other options.
For example, Estimote’s Nearables and beacons with sensors (accelerometer, humidity sensors, temperature sensors, etc.) will make the collected data more diverse. As soon as they are adopted by the market, they will influence not only the retail side of things, but also logistics and delivery by making the purchase process more precise for customers, and, thus, more trusted. In return, the businesses will get more control over the delivery chain and sales funnel with more personalized offers at the same or lower costs.
This is why software development companies introduce new options for faster data (certainly, big data) processing and invent new features for more accurate analysis while creating opportunities with their solutions. This way, the IT industry spreads the value derived from the data across various market niches, thus, making it possible for entrepreneurs to receive more resources at a lower cost.
Integration of the big data obtained from several sources helps achieve the most relevant results. This is the reason why businesses should care about their Internet identities and the data they collect.