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Technological advancement is almost guaranteed as long as humans exist. From the stone age to the age of the internet, we have taken huge leaps forward from time to time. These leaps affect how we conduct ourselves and the functioning of society. One of the prime examples is the internet which has dominated our lives for the past 2 decades. Similarly, a lot of technologies and trends are going to are already dominating enterprises in 2021. Let us look at 10 of those technologies which have digitally transformed and dominated enterprises.
10 Digital Transformation Technologies & Trends
1. Big Data Governance
Big Data is a great technology that is going to stay in the market for a long time. Most enterprises need to deal with huge amounts of data. This leads to a problem that traditional technologies cannot process. Big Data governance will help enterprises to collect, analyze and process huge amounts of data that they were previously clueless about. This will lead to better service and better customer service, which is a growing trend in itself.
Automation is one of the most exciting technologies of this decade for modern business. Not only are we expecting humanity to make a big leap with automation this decade, but it is also already showing some great signs with smaller projects. The escape room industry has used automation to create a lot of intricate and exciting puzzles and mechanisms. Similarly, another industry has used automation in big and small capabilities. Automation has helped enterprises in the coronavirus pandemic to process and collect data without human interaction. Not only does this lead to fewer human errors, but the speed and precision will also help a lot of industries.
3. Data Privacy
Data privacy has been a growing concern among citizens everywhere, from government intrusion to cybersecurity and personal security threats. As people work from home, internet security and data privacy is a growing issue. Data privacy is a trend that is slowly gaining momentum, with various big-name players becoming well-aware and acknowledging the need for better protection. Many web text-based companies have used encryptions to secure data transfer amidst growing concern.
4. Customer Satisfaction
Customer Satisfaction is a growing trend that is only going to become a much stronger principle than what it is. As businesses and enterprises grow, they will need to focus on their customer service to expand their services. This means that with expansion, retention will become the key focus of a lot of enterprises. One of the key factors in retention is customer satisfaction and experience. Keeping your audience happy is the key to retaining and growing in size.
5. AI & ML
Artificial intelligence and machine learning are among the best technologies developed extensively in this and the past decade. AI and MI learning, while not the same, are related extensively to each other. The more we see our AI develop, the more capable it will become with machine learning. Not only will enterprises use them for data collection and processing, but Machine learning will also help AI emulate the human workforce collaboration much more efficiently. Enterprises will be able to help Service industries, banking industries, insurance industries, IT industries, and much more.
6. Cloud-based technology
Storage of data is becoming a big issue since enterprises are collecting more data than ever. This becomes problematic since enterprises need to store this data to analyze and improve their performance. Cloud-based technologies and edge technologies are helping with storage and processing data much faster and efficiently. Cloud-based storage also provides a need relief against cyber attacks as well as hardware malfunction.
Faster internet use is always needed. The more, the better, since most small businesses have gone digital, with even banking and insurance sectors going digital. Slower internet speeds can hamper customer experience and lead to a transactional loss for enterprises. The advent of 5G technology has helped enterprises to combat this extensively by providing faster internet speeds at reasonable costs.
8. Subscription-Based sales
One growing trend is the subscription-based sales model. From Netflix to Amazon, almost all digital platforms and businesses are now adopting a subscription-based model that allows companies to retain their clients and customers. The subscription-based model is excellent for customers as well since they are free to cancel their subscription after trying and testing a product at a much cheaper cost.
9. Blockchain Technology
Blockchain technology is one of the fastest-growing technology. The reasons are very simple behind this growth. One key factor was privacy concerns, and the other was processing speeds. Blockchain technology effectively removes the need for third-party intrusion, allowing peer-to-peer services as well as providing faster transaction speeds. Enterprises are quickly adopting this model to perform better and provide a better service while cutting their costs due to the absence of third-party service providers.
10. Internet of things
IoT or the internet of things is already a great technology and a trend. Not only have we managed to sync our watches, AI smartphones, and even cars together, but we can also expect a lot of other things to remain on a private network or internet. Most technologies now can be controlled via your phone through interconnected networks and applications. This trend and technology are not only helping enterprises satisfy customers, and it is helping customers by providing much-needed satisfaction and comfort.
In the end, as our industries and technologies grow, we can expect a much better system or model that most enterprises might use. Business Technologies like quantum processing and virtual reality will become common and extensively used. We can only expect everything to become better and faster. But for now, these 10 amazing digital transformation technologies and trends are shaping how enterprises do their business.