Role of IT in the Modern Industries

By CIOReview | Thursday, September 21, 2017
20
42
8

Ever since the commencement of interconnecting enterprises and business networks in the early 1990s, the face of enterprise strategy has changed immensely to accommodate a superior data collection to enhance customer experience. Information technology has become one of the vital organs of any successful company, as the accomplishment depends vastly on the decisions made after carefully evaluating the reports created by the IT department. Business Intelligence is proving better than a door-to-door survey, as people are willing to give away more of their personal information online than to a complete stranger during a face to face conversation.

Big Data has become the life fluid of every organization, the market patterns obtained from them help executives come to a decision about the steps to be taken towards a prosperous growth. The data obtained also helps marketing leads comprehend the requirements and preference of the customers. Hence, it helps them harness brand loyalty from consumers and retain future sales by implementing strategies targeted to address each of the consumer requirements. With the passage of time, more companies are opting to cloud technology to share and store data to reduce the cost of in-house data centers. The strategy for the best cloud computing architecture and vendor is selected by the IT team to keep at par with the modern market. The strategy formulated by the data scientist’ help companies increase the overall manual efficiency, go paperless, and implement a proper corporate responsibility throughout the company.

Risk assessment of enterprise technologies has become a vital point of IT department as most companies are cautious of implementing the ineffective solutions for their specific problems. Consequently, the IT has to develop various strategies, leverage data, and research to implement the right solution which would provide the highest return on investment. It has become necessary for IT teams to plan ahead of every fiscal year for themselves as well as the technology requirement of other departments to help the company set an internal expenditure budget. They also have the greater responsibility of keeping track of new innovations that would benefit the company and help the various divisions of the company to enhance their responsibilities by eliminating factual errors from everyday business undertakings.

Cyber threats have become a major concern over the years; confidential data are vulnerable—internally and externally—to cyber security breaches and mass leakage of data online. It is up to the IT team to develop firewalls and deploy a security to protect the sensitive information as well as provide a secure environment for data transactions by regularly updating the security system for protection against zero day attacks, phishing, botnets, Trojans, viruses, ransomware and other harmful malware from damaging the internal network of the company and exploiting its data for financial gains. Implementing the necessary firewalls and updating applications as well as allocating the necessary software that works well with the existing applications of the network.

Marketing any brand globally requires transparency of the data, visibility of the company, and a wide knowledge of trends among consumers. The data scientists have the responsibility of gathering unstructured data generated by customers, potential customers, competitors, suppliers, retailers, manufacturers, and others. The accumulated data is then cleaned up to be integrated with structured data for the IT team to analyze and find a clear insight of market or other necessary patterns. A strong IT within a company is necessary as it is proving itself to be the driving force of this technology driven economy.