The future is now for Business Technology - Alldamoney

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The future is now for Business Technology

Carsten Bruhn  Ricoh Europe PLC's Executive Vice President once said' new technologies might not single handedly contribute to the total growth required by companies to survive. It’s the business process behind the technology that must be reviewed and optimized to add real business value. Present impact of technology advancement on Business have awaked business leaders to the expected wrenching change on their industry sectors in the future due to the impacts of technology, according to research by the Economist Intelligence Unit and sponsored by Ricoh.
The research further reveals that business leaders expect their customers to be the main source of new product or service ideas in the next 20 years.  They see a shift towards decentralized business structures and more virtual working environments.
 The CEO of IBM  Ginni Rometty highlighted the importance of data as an important resource to deliver growth in future.she  predicted that data will be the basis of competitive advantage going forward, calling it the “the next natural resource.”.
Some points she stated about factors that will drive growth in the future are :

                         Data Analytics Will Revolutionize Decision Making
“Many more decisions will be based on predictive elements versus gut instincts,” Rometty said. Even in the most scientifically oriented fields, she noted that decisions are still being made based on anchoring biases. In other words, leaders and managers interpret information through the lens of their subjective perspective and set of experiences.

                        The Social Network Will Drive Value
“The social network will be the new production line in a company,” Rometty predicted. The primary benefit of new social platforms, she said, is that today’s knowledge workers have access to each other. In the near future, she believes “your value will not be what you know, but what you share.”
                         Consumer Segments Will Cede To The Individual
Technology shifts will also change the way businesses deliver value. “What you will see with rapid data and social sharing is the death of the average and the era of you,” Rometty said. Rather than meeting the needs of different consumer segments—geographic, age or income segmentation, for example—businesses will be able to truly serve the individual. “If you have a call center, it’s no longer about a script,” she said. “It’s about a dialogue.”
She concluded “The greatest contribution of this shift “is that it will force every entity to become an authentic organization.”

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