Has the Startup boom changed technology forever?
Today, India has already become the world’s third biggest home for tech Startup with the future looking just brighter. When the startup boom happened, there was a storm of changes in every field /domain. There was disruption in the way we communicated, bought goods and even supply chain as a whole, but what is more fascinating is the disruption that this boom has brought in the field of technology. True, technology is not constant but we are on the brink of something more revolutionary, innovative, and safe to say, experiencing a future technology today.
Investment in drones, driverless cars: Drones and driverless cars are among the most awaited and needed technology humankind has discovered. And since their inception, drones have been widely incorporated in various business systems worldwide. Having proved their mettle in military application, they have found their usage in agricultural industry for inspection of crops, delivery of small packages (e.g. Amazon Prime Drone), provide a 360 degree view of a property or locality in estate industry, etc.
Furthermore, self-driving cars will be a boon to transport industries such as Ola and Uber as they can ensure passenger security and better facilities. It can further enhance your SCM with reliable and timely deliveries as well, that is why we have a lot of companies from Google to Tesla researching in the technology and trying to perfect it.
AI, data analytics and massive job openings for data scientists: Data scientist are the scavengers for your massive and unorganised data. The emergence of A.I. with the ability to collect big-data relevant to your business has eased up analysis process. By the year 2020, there will be a rise in job opportunities for the data scientists who can calculate and manage these data efficiently and boost your business. No more the company needs to know if its ad campaigns are being viewed by the targeted audience. Data Analytics will lead a shift from companies banking on demographic data to actual data of consumer’s intent, which leads us to the next point.
Moving from demography to learning the buyer’s intent: While demography provides you with statistics to plan your business processes, it fails to deliver you with 100% opportunities. Every consumer has his/her own intent when they buy a product, and thus, demographic based statistics are not suffice to compete in market today.
However, keeping a follow up on your prospect’s online behaviour, their activity, and their interests and accordingly providing them CTA’s are the modern strategies that are beating the market heat. This is where every company needs to start using Big Data, IoT and Industry 4.0.
Creating two tier systems: Cloud based solutions are proving to be game-changers in today’s world, as these systems offer agility, security and quick accessibility to your data. But we are seeing a shift from Cloud to a hybrid setup of two – tiered system making the server-application smoother and reliable to shoulder your business. While these seem very good to hear, it is important to ask questions such as; do we have the right infrastructure to support growth of the technology? Is the audience ready for the change? To what extent can one company use the data of their customers? What about privacy?
For a company today, it is not difficult to know what the audience wants but the cost at which the data comes will be something that the company needs to shell out. For startups, having a scalable cloud based software, which will be a catalyst in the growth story of the company is what is needed.
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