How Technology Will Transform Your Business

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How Technology Will Transform Your Business Image Credit: blog.eccu1.org

According to a Cisco Report by 2020, 75 percent of businesses worldwide will be digitalized. This will occur as a result of the disruption of existing and the creation of

new industries through the use of technology.

A multitrillion dollar global market opportunity awaits entrepreneurs because a lot of industries are being threatened by technological disruptions. From Oil and Gas, Energy, Banking and Finance, Advertising, Branding, Media and Communications, Printing, Healthcare, Sales and Marketing, Agriculture, Transportation and Logistics, Trade and Commerce, Manufacturing diplomacy and negotiation, aviation, hospitality, culture and tourism, Security, power and automation, fashion and beauty with many more to come.

Cloud Computing technology has reduced the cost of data storage by individuals, governments and organizations. Instead of multiple servers to store data which was the norm before, large amount of data can be stored in a single server (cloud). The advantage is that it stays there permanently. Social Media brands use cloud technology which is why the data they gather from users is stored permanently in their system.

We are now in the age of machines and intelligent software which are solving human problems. Data Analytic technology which involves mining of data through algorithms to profer solutions is important for entrepreneurs and others because every industry driven by technology will rely on data to maintain and sustain their brand and market relevance.

From the Internet of Things which is the connectivity of objects such as clothes, cars, appliances, e.t.c to sensors which provide information to Robots which are revolutionising industrial and service based activities and Artificial Intelligence which can even be deployed for predictive analysis of consumers taste, etc technology is revolutionizing how business is done in the 21st century.

Read 1062 times Last modified on Monday, 24 August 2015 07:54
Nnamdi Odumody

He is an entrepreneur who is very passionate about the transformation of Nigeria & Africa through Entrepreneurship and Innovation.

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