By Arindam Ray Chaudhuri, AgreeYa Solutions
Social, mobile, analytics and cloud technology is everywhere these days.
Collectively referred to as SMAC, these forces individually have the ability to make great change in businesses, but when used together SMAC is creating entirely new business models that have not been previously imagined - the sky's the limit! Here's how:
Social media is one of the most important areas of focus for businesses - and it means more than just having a presence on Facebook, Twitter and other social media channels. It's about fostering relationships, building engagement and increasing brand awareness, thereby increasing sales. Building a social media strategy has become a must for all enterprises.
Many companies utilize social media for their customer service function only, but more and more are using this platform in tandem with their sales and marketing objectives. This enables businesses to use the data generated by customers to further serve even more customers. Additionally, social media breaks down the barriers that have in the past limited the amount of shared knowledge among the various networks, encouraging the rapid collection of information, which can boost the business marketing results.
Mobile devices have become ubiquitous, and have revolutionized the way people access digital content. With the use of smartphones and tablets, digital content is always at the fingertips of customers - and consumers love this. Using mobile devices provide a flexibility and mobility that desktops or even laptops never had before. Users can now obtain data on the go without having to be at a fixed location.
Not only have mobile devices emerged as a way for sellers and buyers to communicate efficiently and effectively, but they also allow for employees to work anywhere and on any device. This increases employee productivity as well as contentment.
Every year, enterprises generate billions of gigabytes of data. This data-when properly analyzed and utilized-can be an extremely valuable asset, which can be later used as a competitive tool by the companies.
Analytics are incredibly helpful: they can help retailers predict buying decisions of consumers or expose fraudulent transactions. Also, they can be adopted in various scenario-building activities.
According to a report by KPMG, a vast range of data sources have emerged, which have brought about a revolution in analytics. Sources include the following:
- Internet Data: comprising of social media, social networking links
- Primary Research: surveys, experiments, observations
- Secondary Research: industry reports, consumer data and other business data
- Location Data: mobile device data, geospatial data
- Image Data: video, satellite image, surveillance
- Supply Chain Data: vendor catalogs and pricing, quality information
- Device Data Sensors: RF devices, telemetry
Widely adopted by businesses, cloud technology has become one of the most effective methods of storage, collaboration and internal and external sharing. Cloud computing provides a new way to access technology as well as the data a business needs to quickly respond to changing markets and solve business problems.
Cloud computing is cost effective, agile and fosters innovation and improves productivity for businesses, employees and customers alike. Whether you use public cloud, private cloud, or a hybrid of both, utilizing cloud computing is an increasingly important way that consumers and businesses operate today. It fuels professional services across the globe, allowing better flexibility and scalability.
Though the SMAC concept has only been around for a few years, the combined technologies have already been making huge waves and transforming companies - by proving to be an effective method to erase geographical boundaries, cut costs and enhance business operations. Not only does SMAC transform companies, but it also prepares them for the business challenges of the future.
SMAC is the next generation of business application for all organizations. The impact that SMAC initiatives can have on making businesses move quickly in today's fast changing world is unquestionable. Today's organizations needs to accept the approach to enhance the end user experience, and maximize convenience and productivity where SMAC-enabled architecture become the required pattern. If the SMAC initiative is undertaken correctly, it will help in instant availability of information and intelligence and importantly, enables immediate action based on this intelligence gained.
Arindam Ray Chaudhuri is the chief operating officer and global head of technology practices at AgreeYa Solutions, a global provider of software, solutions, and services focused on deploying business-driven, technology-enabled solutions that create next-generation competitive advantages for customers.