What’s the Future of Business with Data and Emerging Technologies?
It is no question that data is currently the world’s most valuable asset – more expensive than human’s basic commodities. Because of data, you can have better insights that can be used to decide everything from what products to manufacture, right down to how to sell and market it. Data will give you an unprecedented understanding into your business and your industry.
However, being able to gather and then use data is not that easy. Some people liken it to crude oil. We all want oil, and we use it in our everyday lives. But it is practically worthless until you drill it out of the earth, refine and process it, and make it into gas and diesel for your car.
Same thing goes for data.
You may have petabytes and petabytes of data but these are all trash if you do not get it out of your data warehouse, data lakes, or databases, and then process it into something that you can use.
The good news is that you now have easy access to tools that can unearth data creatively, such as the Internet of Things (IoT), artificial intelligence, and blockchains. These technologies will be able to separate the grain from the chaff, and help you see trends in otherwise random looking numbers.
These technologies can help you uncover new business value by discovering and using data that will be able to predict what consumers want. This data will help you know what to do in order to meet these demands later on.
It can also help you know what kind of service your consumers are looking for. What’s more, you’re not only just looking at information that’s going to impact your own company but also the entire industry.
And if you think that you will need to geek it out to do all these, you’re wrong. You don’t need to be a programmer or to scan through a lot of information before finding the one you’re looking for: you just ask for it the same way you ask Amazon Alexa to read the news to you. We now have natural language voice interfaces that will be able to access and present data in ways that you will understand.
Because of these new and up-and-coming cloud technologies, businesses now have access to artificial intelligence-based prediction apps.
For sure, you will have a lot of questions when it comes to these technologies. You’re probably wondering what the future holds for you and your industry. Or perhaps how you can use all of these data and technologies to your advantage.
Oracle has some ideas.
No one knows the answers to these questions for sure. But Oracle has some ideas. In ten years, the workplace will be very different because jobs are going to be different. Oracle estimates that millions of jobs will go away, however, there will be twice as many jobs that will be created. These new occupations will serve the personnel demands of new business models, new types of enterprises, and revenue streams that will be using the emerging technologies we have now.
Furthermore, machine learning applications will be the ones manning production lines, device maintenance, financial closing, and even database security monitoring, among others. Touch-less automation will be everywhere.
Your employees will be doing different tasks, such as designing policies that will govern software and other similar processes. And of course, everything will be delivered via the cloud.
Photo courtesy of Marco Verch.