Trends that Drive Businesses towards Profitability

By CIOReview | Tuesday, February 5, 2019

Business organizations are turning to advanced digital solutions to decrease workloads, mitigate risks, increase profitability, and ensure competitiveness. Business intelligence and analytics collect and analyze data and apply predictive analytics to the businesses. Technologies aim to identify the weak points of the organizations and address them. Following are some of the trends that will affect business initiatives in the year 2019:

Artificial Intelligence (AI): AI has the potential of using data points, behavior and engagement trends to provide relevancy, content, and distribution for the businesses. It helps marketers to know about their customers’ involvement with the products and serves contents accordingly. The advanced technology is able to algorithmically analyzing things as demographics, geographic, time, and seasons.

Data quality management (DQM): DQM is a popular trend, adopted by companies for the sake of recovering their initial investment. It incorporates role establishment and deployment, policies, responsibilities, and processes in the businesses. Companies can take advantage of the competition by implementing data quality processes.

Blockchain: Businesses are in the demands of faster returns on the investment and a shorter distance between investor and investment. Blockchain delivers efficient push to the businesses towards globalization. It upgrades productivity, transparency, and reduces wasted time and manual paperwork. The transparency of a distributed ledger combined with cryptographic security of data chain makes the technology more applicable.

Natural language process (NLP): Vendors in the businesses adopt NLP to visualizations. It supports analytical conversation by helping computers to understand the meaning of human language. NLP fetches users’ intent through conversation or query and creates more natural and conversational experiences. It is able to break down barriers of analytic adoption and supports to transform workplaces with data-driven, self-service operations.

Augmented Reality (AR) and Virtual Reality (VR): AR and VR are the newer realms of possibility for the businesses. They are the enhanced version of reality created by technology to overlay digital information on an image of anything which is viewed through smartphone or tablet. AR and VR accomplish numerous aspects for a business as they promote business owners to connect with their potential customers.

These technologies are engraving their foothold in the business world and marketers should take leverages of the advances to be ahead in the global competition.