Category: Technology

Nobody can predict the way the IT business will look like in the future. However, based on how things evolved in the recent years and the overall trend of developing breathtaking technologies, some predictions can be made.

There’s no denying that technology and good decisions are the most important factors when it comes to business development, however, what can we really expect in the following years? Here are some thoughts:

Data analysis

You might think this is not such a big thing of the future since this has helped businesses grow since the Internet came around. Well, it’s not the same data analysis as it was in the past. Today we have so many devices and things inter-connected and such a huge amount of data that needs to be analysed.

In fact, predictions are that we’re gathering too much data and we’ll end up drowning in it. We look forward to the future to bring advanced analytical solutions to be able to process the huge volume of data and learn how to use it properly.

Relevant info needs to be extracted from the data we possess and things are already moving in that direction. There’s a certain company that created a software which gives you data-driven suggestions to enhance the performance of your website or blog. Such a thing would cost several thousands of dollars just a few years ago.

Smart machines

Somehow connected with the first point in our discussion, analytics don’t just make businesses grow, they can make machines smarter at the same time. Recent times showed a big increase in artificial intelligence in the business sector and it’s clearly growing bigger and bigger. A very good example in this direction is the product developed by IPSoft that can handle emails, instant message conversations and even emails. This allows other employees to be more focused on creative tasks and develop better strategies for the future.

Another great example of smart tools that are being developed to make our office lives easier and businesses more intelligent is the chat program Slack. Well, it’s not only a chat program as it can do a lot of stuff, almost entirely replacing the email system. Also, it can be integrated with other programs which make it even more powerful. Predictions are that such smart tools along with machines will take 70% out of the workload of the employee.

Interconnected devices

Businesses do not exist only online so we also have to take into consideration how everything will affect the real-life merchants and businesses.  The already emerging technology of 3D printing is already changing the way small and big offline businesses develop. This comes to complete the array of sensors and beacons like RFID and NFC that already play a huge role.

Bottom line is that the speed with which technology evolves makes it very hard to accurately predict what is going to happen and what will be the next big developments when it comes to businesses. However, perhaps the biggest development and the game changer is exactly this increased pace that makes everything else possible.

Article Contributed by Dan Razak

Starting a new business endeavor is a strain in every conceivable sense. It takes hard work, plenty of money and a lot of courage and can-do attitude. Finances are often one of the key stumbling points – finding investors is tough, and money is almost always tight in the beginning. Another problem point is how to differentiate your company among a sea of others. What can you do to stand out and attract clients? Luckily, the right tools for success are out there. Your own unwavering determination and a great product or a quality service are your foundation, but there are ways new technology can help you build on them to achieve success.

Better yourself

Education is a process that never stops even if you only want to maintain status quo, let alone go forward. Technology is changing at a breakneck speed, and keeping up is necessary to stay in the game. Luckily, there are plenty of apps, libraries, tutorials and platforms where you can find everything from books, videos, frameworks, online classes and even mentors.

Manage your releases

Release management has come a long way, and it’s an integral part of the production and release process that ensures the best results. Transparent communication between members of the same team, as well as between several teams working on different aspects of the project, secures optimal results in a minimum amount of time, with little to no idling. As the date of release draws closer, versatile test management software can be used to check for any bugs. That way, when your release date comes, you can rest easy knowing that no unforeseen situations will arise.

Embrace the cloud

Cloud computing is not the future – it is already here. On-site hosting is slowly but surely going the way of history. While it used to be normal for a company to own its own servers, companies are finding that working in the cloud has many benefits – the most important and convenient ones are probably scalability and lower costs. However, let’s not dismiss increased flexibility, easy remote access, and even – why not – less negative impact on the environment thanks to the sharing of resources and their complete utilization.

Utilize analytics

Big data is one of the fastest growing fields right now. Given its usefulness, that isn’t going to change anytime soon. Proper analytics can change the way you do business and make decision making easier – almost foolproof. After all, numbers don’t lie. Big data is used for everything nowadays: the placement of products in supermarkets; production in all kinds of industries; healthcare; marketing – particularly targeting clients; scientific research; optimal performance of automated processes and machines; finances and budgeting; improving living conditions – the list goes on and on. In business, big data can take the guesswork out of decision making, thus minimizing risk.

Be part of the community

The IT community, unsurprisingly, has a very strong web presence. Whatever your niche, there is no doubt that you will find your tribe online. There are plenty of social networks, maps and global communities devoted particularly to startups, entrepreneurs, programming languages, freelancers, and any other community you can think of. The global think tank is extremely useful, as sites like Stack Overflow can help you solve any problem you might be encountering. Creating connections with like-minded individuals who are in the same business as you might also provide interesting opportunities for cooperation.

The world is changing rapidly. Technology is transforming faster than ever, and those who learn how to utilize these new developments first are the ones who will reap all the benefits.

About Author

Dan Radak is a marketing professional with eleven years of experience. He is a coauthor on several websites and regular contributor to BizzMark Blog. Currently, he is working with a number of companies in the field of digital marketing, closely collaborating with a couple of e-commerce companies.

These days, it’s hard to imagine a world without technology. It’s integrated into practically every aspect of our lives; particularly the workplace.

The rate at which technology has advanced is staggering and as it continues to develop, it’s sure to bring even more dramatic changes for businesses in the years to come. So, just how has technology transformed the workplace?

Flexible and mobile working

Perhaps one of the biggest changes technology has brought to the workplace is the fact employees can work from literally any location with an internet connection. This has allowed companies to cut costs and increase employee satisfaction, allowing them to have a more flexible schedule.

Being able to work from home allows parents to juggle work and family responsibilities. It also saves businesses money, as employees require fewer days off due to illness or family commitments.

The fact business can be conducted remotely also gives companies the opportunity to expand on a more global scale. So, technology has changed the actual working location and that’s been a major benefit to both businesses and employees.

Better communication

Another major impact technology has had on the workplace is its communication benefits. Employees are able to collaborate and communicate much faster and easier than ever before thanks to email, Skype and instant messenger services.

This has really helped companies to become more efficient and made it possible to release and provide products and services at a much faster rate. This in turn boosts profits, helping businesses to become more successful.

Convenience and storage

Cloud technology is potentially one of the biggest developments that has helped make the workplace more efficient. These days, it’s all about the cloud and it’s not hard to see why.

Before technology took off, businesses had to physically store files within the office. That meant, whenever an employee or business owner needed information, they had to physically go through each file. These days however, the cloud has made finding files incredibly easy. Those with access can find the data they need in a matter of seconds. This in itself is a major benefit, but it’s the space saving factor that’s really impressive.

These days businesses rely heavily upon data. However, very few realise just how much space their digital files take up. Gradwell recently put together some research for their “Files In Reality” campaign which gave some real perspective into how much space a business would need if it were to store it’s digital files in a physical location.

The company ran a survey which looked into the data storage use from four different industries. Unsurprisingly, it revealed the IT sector had the most files saved in the cloud. The average file type used in IT is Excel, with each one coming in at approximately 700KB. Generally, 1TB laptops are used within the sector, which means roughly 1,500,000 Excel files can be stored.

So, what does this equate to in physical storage terms? Well, the number of files saved according to the study, would equal the size of a plane in just 3 days. In comparison, a customer service worker’s files would fill a whole house in just 9 days.

When you compare the amount of physical storage a business would need to house all of the files it requires today to physical objects, you soon see why the cloud has proven to be a vital technological development.

Overall, technology has transformed the workplace in a major way and the above are just some of the changes businesses have seen over the years. As it continues to develop, there’s sure to be even more benefits added to the workplace.

The Bitcoin is the world’s most common digital currency. It is a topic of conversation in many different industries. Blockchain is a distributed database for the Bitcoin. It provides the ability communicate as well as store important information. It has the potential to have a positive impact in the way an insurance company processes digital their transactions.

Blockchain Technology

This provides users with a decentralized transaction ledger. It is a peer-to-peer system and doesn’t need a central authority to manage the flow of transaction information. The technology makes it possible for entries to be made, verified and saved in order of the transaction entry. This is done for all parties involved with the transaction on a secure computer system. The ledger can be shared by all parties involved. It enables them to view as well as verify each transaction. This makes it possible to eliminate inconsistency as well as any type of redundancy.

Implications

There are many benefits to small business insurance when it comes to using decentralized ledger technology (DLT). This technology makes it possible for offline as well as online assets to be assigned ownership. This technology makes it possible for entities to communicate linearly as well as cryptographically. Blockchain technology has the potential to diminish high small business insurance premiums, simplify the insurance claims process as well as create coverage for specifically identified demographics, and provide business insurance quotes.

Benefits

The blockchain technology is anticipated to benefit insurance companies. They could use it to improve their administration operations, claims processing as well as pricing. It could also impact contract automation, claims administration as well as intercompany settlements and more. It has the potential to improve the speed and volume of high volume as well as high trust areas of an insurance company’s operation. It could also impact payroll and more.

Blockchain-Based Solutions

This technology has caused a number of insurance companies to look into leveraging its advantages into their business model as a way to increase their competitiveness and abilities for the creation of new business models. Insurance regulators are considering the benefits of using blockchain technology. They are working with different companies to devise accurate regulatory frameworks and more.

Parametric Insurance

Blockchain could help insurance companies pay a specific amount based on the occurrence of payout triggers. This could replace indemnifying the pure loss. This service would be provided with preset smart contracts. Should a hurricane occurs in a specific region, a smart contract would make it possible for 25 percent of insurance claims to be paid to policyholders. It would be effective when handling claims requiring third-party administrators (TPA) to adjust. This type of insurance could become popular and an important method for using smart contracts. It could also be used as a way to create cross-border risk pools. This would enable people from around the world to have access exchange protocol with digital currencies.

New Efficiency And Security

Insurance industry experts have seen the potential of Blockchain technology when it comes to security and efficiency of the internet. This technology can provide a higher level of security based on its decentralized structure and not having a single failure point. This will increase customer trust and confidence. It will improve confidence in segments of the insurance industry such as financial services as well as exchanging sensitive assets and more.

Microinsurance

The insurance industry has identified many possible benefits concerning microinsurance and blockchain technology. This could provide a higher level of trust between peers. It would make it possible for populations living in remote areas around the world to experience increased simplicity for having small business insurance. Blockchain technology could bypass governmental bureaucracy. This could significantly decrease or eliminate geographic distinctions.

The future of small business insurance could provide a wide variety of benefits from utilizing Blockchain with digital currency applications. It would work with smart contracts and more. Small business insurance providers are starting to change their underwriting process to accommodate for this new technology. It is viewed by many areas of the insurance industry as a way to provide cost-effective and more consumer-oriented small business insurance.

Article Contributed by Sia Hasan

Every entrepreneur understands that IT is a core part of any business given the world’s consumers live in today. It is for the same reason that IT courses have become wildly sought after. There is no shortage of talent in the IT industry, but the issue is finding the right ones for your company. For entrepreneurs lacking tech skills, deciding who is worthy and who is not can make recruitment more than a bit challenging. There is also the fierce competition for other recruiters who are looking to create great teams to foster growth. What should you remember when on the hunt for IT talent?

Get Your Profiles Right

The type of IT talent needed for your organization will depend on what you do. Before you start sifting through applications, build a profile of the kind of professionals you require on your tech team. For example, if you manage an ecommerce business, you will have to establish an IT support team to ensure the site is always up. If it’s a tech startup, then you may have to get a blend of IT experts from developers to designers. Evaluate your operations carefully and pinpoint every expertise necessary to carry out the different functions. With your team a profile in hand, you will have a less complicated time narrowing down applicants.

Learn Salary Trends

If you are to beat the competition by recruiting the best people for your IT department, be aware of salary patterns. Educating yourself on what other companies are paying their IT talent gives you a ballpark figure to work with. You can avoid offering lower than average compensations to candidates. Factor in other elements like where an applicant resides and the living standards in that region. Such information will also prevent you from tying yourself to an inflated salary package that you may not be capable of sustaining.

Availability

Another aspect of strategic IT staffing is finding a team that will not have a problem providing their services at odd hours. Some IT complications arise unexpectedly, and you have to be certain that your company has at least one worker who is ready to provide solutions. Depending on the type of work you handle, you may need to provide IT support around the clock. When hiring, inform candidates of this aspect so that they know what to expect.

Expand Your Horizons

Your search for IT talent does not have to be restricted geographically. Skilled IT experts have become a rare commodity across the globe and companies are not beyond sourcing workers from other areas. You can easily find the right people to build your team as you grow their skills within the company. Some entrepreneurs invest in campus recruitment programs to tap IT talent before the competition. If your organization can afford it, you can entice foreign students to move locally and work for you.

Vetting

When you don’t have the technical know-how, keep someone who does around to help with the vetting process. Don’t spend time interviewing and recruiting the wrong candidates for your enterprise. A professional with relevant experience can assist in weeding out the unsuitable choices, thus saving you resources. Such an expert is also useful in identifying the required skills to fill the available positions.

Retaining Your IT Staff

Strategic staffing is not just about getting the appropriate people to work for you but keeping them in the company. Millennials have the highest employee turnover of any generation. For every ten millennials, six are open to new job opportunities. It means that if your staff consists of a high number of fresh graduates and professionals under 35, then you must find ways to keep them engaged at the workplace. Focus on motivating your younger employees so that they can develop a passion for their jobs.

IT improves efficiency when conducting business operations, hence the need to have the best people working on providing it. Find ways to recruit talent that aligns with your company’s bottom-line. Additionally, be an employer that attracts the right kind of IT professionals by building an enterprise that provides growth opportunities.