Emerging Trends in Technology for Mid-Sized Businesses
Technology innovations are racing forward faster than ever, and that includes the field of information management. Today, companies are under a lot of pressure to keep up with the latest trends in technology to ensure their information remains secure. This can pose a challenge to small and mid-sized businesses that don’t have the same resources larger companies do. Therefore, smaller businesses need to be wise about the technological advances they embrace, and how frequently they upgrade their IT solutions to keep pace with change.
In 2019, some technology trends are more popular than others, while others are fresh to the scene. Check out the five emerging trends in technology for mid-sized businesses below.
1. Mobile commerce
Increasingly, people are making their purchases by way of their mobile devices, and the shift is happening quickly. This presents unique information security concerns for commerce companies. People’s mobile devices contain more personal information than ever before, and more of that information is payment information and purchasing histories.
Today, even small companies are finding the capital and market to engage customers and drive online sales by creating their own mobile apps. Additionally, every business should have a website optimised for mobile users, who now outnumber desktop users worldwide. Businesses can also focus their advertising on potential customers that are within a few blocks of their location. This kind of targeted advertising is made possible by local online search through Google My Business and social media platforms, such as Facebook and Instagram. The best part is that even small businesses can afford to compete in this arena.
2. The Internet of Things (IoT)
The Internet of Things was once a far-fetched idea but has rapidly become a normal part of our modern, digital world. People can activate security systems, adjust temperature controls, and turn off the lights in their home from their mobile device. More and more products every year can provide real-time status updates and accept commands online. This might seem like the kind of technology that’s too advanced for small and medium businesses, but it no longer is. More than half of small business owners plan to use IoT technology this year, and that statistic will only rise.
3. Artificial intelligence
Artificial intelligence is changing how online commerce is delivered, with AI tools processing data analytics and projecting sales outcomes in real-time with complex information. AI is helping small and medium businesses grow faster with more accurate and efficient processing of performance data. AI is also helping professionals tackle complicated problems more effectively.
4. Cloud computing
Increasingly, information is no longer being stored in physical locations. Gone are the days of file cabinets full of invoices and contracts, or hard drives hidden away on giant servers. More and more businesses are entrusting their business information to the security of the cloud.
Today, not only is information stored in the cloud, but computing is done there as well. Cloud computing services are great for productivity and empowering collaboration within the workplace by making the same information easily accessible across multiple devices.
5. Augmented analytics
Analytics is now one of the most commonly used words in information management. Countless businesses are tracking their online performance through tools like Google Analytics. However, data on its own is only valuable if someone knows how to decipher it. Augmented analytics engines can package your information in easily digestible packages, making your business data accessible to everyone.