Welcome to the New Digital Era
Innovation, Technology, Digitalization; these are words that seem to be on everyone’s lips nowadays. We already live in a somewhat technological world, but most likely this is just the very beginning of a new highly digitalized era.
So, what’s next? Which new digital and disruptive innovations can we expect to see in the near future? To answer these questions, SAP has listed six of the latest and most powerful digital trends and we’re going to explore these further.
1. Digital Transformation
The first trend SAP is highlighting is Digital Transformation, which somehow is sort of a general trend that encompasses all technological trends and innovations. This is because it explains how traditional business models are being radically disrupted due to digitalization. As a result, this disruption will lead to new business models, new business processes and new ways of working. To achieve this, companies are using innovative technologies that are leveraged to improve: Customer experience, Predictive insights, Productivity, and much more.
2. Machine Learning
The second trend SAP is speaking about is Machine Learning, where they also include Artificial intelligence (AI) and Deep learning. Machine Learning technology teaches computers how to perform tasks by collecting information from data instead of being explicitly programmed. This is done by using sophisticated algorithms to “learn” from massive volumes of Big Data. Real-world machine learning examples are everywhere, like for example WTSOne that has proved the capabilities of YouSolution. The benefits of Machine Learning are many like: Faster decision making, Easier adaptability to changes, Algorithmic businesses that can achieve high levels of automation, Deeper insights, Efficiency, and consequently, Better outcomes.
The third trend SAP is emphasizing is Blockchain; a powerful innovation that can completely revolutionize how businesses operate. Blockchain is basically a reliable, difficult-to-hack record of transactions that registers data across a peer-to-peer network. Here, every participant can see the data and verify or reject it by using consensus algorithms. Approved data is entered into a ledger as a collection of “blocks” and stored in a chronological “chain” that cannot be altered. Blockchain has the potential to majorly disrupt every industry, and the benefits of it are mainly: Fever intermediaries, Faster Processes, Reduced risk due to transparency, Quicker ROI because of more profitable processes, Better security, and Higher level of automation.
4. Internet of Things
The fourth trend SAP is listing is Internet of things (IoT), which is a popular technological phenomenon nowadays. IoT is a network of physical objects (it can be everything from vehicles to home appliances) that uses sensors and APIs to connect and exchange data over the internet. Basically, IoT connects machines to machines and machines to people, in nearly every industry. This can be useful since it: Creates opportunities for new businesses and revenue models, Improves operational efficiency, Increases workforce productivity, and Enhances customer experience.
5. Cloud Computing
The fifth trend SAP is highlighting is closely related to YouSolution; Cloud Computing. Cloud Computing is the delivery of applications, platforms, data storage, operating systems, and other computing resources over the internet instead of over on-premise infrastructure. Therefore, the cloud can be accessed basically anytime and anywhere you are, which makes it very convenient and flexible to use. Other benefits of Cloud Computing are mainly: Elasticity of workload requirements, Affordability, Security, Agility to react quickly to changing market conditions, and The possibility to rapidly adopt new technologies and innovations.
6. Big Data
Last but definitely not least, SAP is listing the trend of Big Data which continues to explode in volume and variety across industries. Big Data is the ocean of information we swim in every day; it’s data flowing from our computers, mobile devices, and machine sensors. With the right Big Data tools, organizations can store, manage, and analyze this information, and subsequently, gain valuable insights. Further, based on these insights, companies can take informed and well-grounded decisions and actions.
So, how important are these digital trends and innovations? Do we really need them?
The answer is yes, and especially now. Marco Mondino, SME Solution Expert at SAP, has written a post (you can find it here) where he highlights some of the new and unexpected challenges SMEs are facing now in this new decade. In order to successfully respond to these challenges, he suggests companies to embrace: Experience Management, Platforms and technology agility, Software as a Service, Real time insights, and Intelligent Technologies. All these responses are clearly connected to the trends listed above, and hence, vital for SMEs to survive and remain competitive in today’s ever-changing world.
The YouSolution Integration Hub Platform supports flexible and agile business processes by synchronizing decoupled systems on the cloud. Based on the trends and challenges listed above, there’s no doubt that YouSolution can help companies to succeed in this New Digital Era that we are facing today.
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