5 Technology trends to consider right now

As we are a month inside the second half of 2015, I thought it would be a good time to look at some of the technology trends that are in motion, and will have more of an influence as we enter 2016.

1: SMAC becomes SMACT

Social Mobile, Analytics and Cloud (SMAC) has existed for a number of years in enterprise applications. Internet of Things (IoT) has accelerated as an enabler in technology, and hence will begin to be added to SMAC to create SMACT. I introduced this concept in one of my first posts here. And they need each other to succeed and/or progress. As more and more devices in IoT come online, SMAC demand will increase. And IoT will add value to SMAC, as it will spurn new technology directions that can utilize SMAC. The A in SMAC will be affect more than others, as with new data sets being generated, open data sets available for data multi tenancy will drive new requirements for on demand insights in real time.

2: Co-Creation:

A key tenant of open innovation (which was mentioned in a previous blog here) is co-creation. As companies take a more outside in approach to discovering next business direction, co-creation will be a huge part of this. Whilst its slowly increasing in chatter, co-creation will be key enabler in the coming years. Industry partners, vendors and consumers will create ecosystems that will drive new business models by utilizing analytics, and understanding customers at heightened levels. We have seen how disruptive NetFlix, Uber and Bitcoin have been in the past few years, and it is expected co-creation will also drive further disruption, but in different directions at increased velocity. Ikea’s home tour is a good example of them listening to their consumers to understand the requirements for why they were doing up their homes.

3: Technology and Business Strategy Leadership positions collide

It is expected that there will be a blurring of the lines between technology and classical business positions in companies, and this will result in a series of new positions to drive next generation technology direction. We are seeing that technology and business executives need to be proficient in both areas, and understand the dependencies of the decisions made in either will be crucial. The rise in roles such as Chief Data Architect (CDA), Chief Digital Officer (CDO) and Chief Governance Officer (CGO) has meant that board rooms have increased percentage of technology executives. It is predicted that an organisations Chief Technology Officer (CTO) will create a series of direct reports in the areas of data intelligence, data monetisation, futurism and collaboration strategy. These roles will be necessary to assist the CTO in managing digital disruption.

4: Data Monetization

This is a hot topic right now, and one of the pioneers that is driving a lot of new research in this area is Steve Todd from EMC, along with Dr. Jim Short of the San Diego Supercomputer Center. Whilst you can read extensively on this topic at Steve’s blog, Ill outline some of the considerations that are prominent for your business. The first is the idea of monetisation of your current and future data assets. Data is the new oil, a form of currency that can be used to drive business metamorphosis, but also can be something that is of use to others. So then it becomes a sale-able asset. We have seen first hand where major companies are looking to acquire companies not only for their technology, but their data also (example). Imagine if your store had a considerable data set, I expect major retailers such as amazon would be interested in buying that data-set from you, to understand street shopper trends. Another aspect to consider is valuing data at all stages of your companies cycle from inception, through beta to its growth cycle. An accurate snapshot of your data assets can increase the valuation of your organisation, and is especially useful in acquisition. From an internal company data perspective, a key pillar of your data monetization strategy is the architecture on which your data resides, as numerous data silos across your organisation are generally very difficult to even analyse for valuation. The concept of a business data lake can bring huge advantage here.

5: Search will involve more than Google

Currently, a large proportion of search involves online search for information that resides on servers. However, with the increased influence of IoT and the connected world, it is expected that more that the cloud will indeed be searchable. The billions of edge devices should enter the fray, if the data and security policies continue to be challenged into being more open. Connected cars, homes and mobile devices could widen the net for any search queries. We are seeing the emergence of alpha startups indicating this trend, such as thingful and shodan, which act as search engines for the internet of things.

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