Using big data, the cloud and wearable technology efficiently will be key to success for small businesses and enterprise level organizations. Discovering the full potential of big data, the cloud and wearable technology will come over time. Here are few things happening around the world with these three unique opportunities for greater business success.
The Potential of Big Data
Big data has had a widespread impact in a variety of industries from language learningto retail to the medical field. An example of big data and language learning combined is the app, Duolingo. The app has more than 30 million registered users learning one or more of the nine languages available. Duolingo’s revenue does not come from in-app ads but has language learners translate documents and news articles for clients like Buzzfeed and CNN on a contract basis. User successes and failures are constantly recorded, charted and mapped which results in accurate and actionable data.
Online shopping giant Amazonhas been able to efficiently use big data to increase their revenue and improve customer service. Amazon has even obtained a patent on a system designed to ship goods to customers before products have even been purchased. Amazon Web Services offers cloud-based computing and big data analysis on a large scale including data warehousing and Hadoop solution, S3.
Parkinson’s, a neurodegenerative brain disease affecting about five million people worldwide, is the focal point of aresearch projectinvolving big data analytics. Started by actor Michael J. Fox, the research project also turns to wearable tech and public cloud computing for answers. Smartwatches gather and transmit data in real time allowing researchers to look at minute data points and analyze hundreds of readings from thousands of people with the disease. The massive amounts of information collected is expected to help researchers track patterns and find new breakthroughs.
The Potential of the Cloud
Hadoopsolutions similar to Amazon Elastic Mapreducecan help companies find similar success in achieving business objectives like Amazon and Duolingo. Companies who don’t invest in the Cloud miss out on opportunities including greater storage and data computing. 43 percent of companies who don’t invest in the Cloud fail to manage costs while 40 percent of companies who don’t choose the cloud fail to innovate. 16 percent of companies who don’t invest in the cloud aren’t able satisfy customers.
Using the cloud creates economic, workforce and social opportunities. Companies using the cloud have found it easy to scale up or down depending on IT needs greatly reducing overhead while staying on track with business goals. The cloud makes it possible for innovations in current workforce models. Cloud computing breaks down barriers allowing businesses to become mobile and work despite time zones and physical location. Local, state and national governments can also use cloud computing to better understand the communities they serve, take appropriate measures to prepare for disasters and prevent crime.
The Potential of Wearable Technology
Wearable technology is still new, but consumers are starting to adopt products like Google Glass and Sony SmartWatches. Google Glass is worn like a pair of eyeglasses with a prism-like screen tucked into the upper corner of the frame keeping the user up to date with email, calls and other notifications. Google Glass is designed to provide a second screen for mobile so it’s hooked up to the smartphone to receive notifications and other information. The Sony SmartWatchkeeps users engaged with apps downloaded from Google Play. Like Google Glass, the Sony SmartWatch is connected with the user's phone reducing missed calls and other notifications.
As the use of wearable tech grows, companies can ensure their employees are always connected improving communication and productivity. Enterprises in the field service industry have seen a positive impact on their bottom line. Technicians with wearable tech are able to solve problems faster saving millions in the long-run. Retail businesses can also benefit from wearable tech accessing information on-the-go. Wearable technology is still expensive for the average user but will drop in price as more people adopt products like Google Glass.