Innovation can be defined as the process of taking an existing technology and finding novel ways to apply it. It is not the invention of the wheel; it is finding new uses for the wheel, such as to mill grains, build chariots or steer automobiles. In the world of technology, it is generally accepted that innovation can happen whenever there is both a genuine need and people with the right competencies are available to address the need.
Since the dawn of the Internet age, innovations have arrived at a rapid pace. Some of these have quickly become outmoded as newer developments proved to be faster, more economical or more user-friendly. Others, however, have proven to be truly disruptive technological innovations that have had a major impact on how companies conduct their business.
1. Cloud Computing
Cloud computing has been one of the most far-reaching innovations in recent decades. It is a combination of software, access, computation and data storage that has proven especially effective in reducing the costs of in-house operations. With lower up-front costs, the cloud has served to help “level the playing field” by allowing smaller companies access to powerful applications that once required major expenditures. Since the applications can be accessed by any user with the proper credentials, the apps are available to any employee or customer, no matter where he might be.
2. Mobilization
Mobile technology has advanced far beyond mere cell phones. Using a smartphone or tablet to surf the Internet has become commonplace, but a new generation of apps has allowed users to conduct a variety of tasks, from monitoring their building security to recording videos, from their mobile devices. Smartwatches and other wearable devices have begun to penetrate the market to add even more functions. Companies must now plan their marketing and websites to include mobile, and many firms are taking advantage of the ability to push work orders or leverage GPS tracking to optimize scheduling for field service personnel. In addition, mobile devices make it possible for employees to work from remote locations (such as while traveling), whether they need to access a cloud application or respond to an email.
3. Big Data
The ability to collect and analyze massive amounts of data was far more difficult in the days before mobile and cloud computing. Mobilization gave companies the opportunity to collect information from multiple channels, and the cloud offered the ability to store the data in a secure location without having to invest in additional hardware. With so much data available, companies can build a 350-degree view of their customers to better understand what customers want and to target specific groups or individuals for better marketing results.
For More Information
The three innovative technologies described are the greatest impact on today’s businesses, but they are far from the only innovations to arrive during this century. If you would like to learn more about innovative technologies that can give your company a competitive edge, contact the experts at PhaseAlpha. We can be reached by phone at 913.648.9200 or by email at info@phasealpha.com.