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Uncertainty in the New Style of Business

Adrian_Velez

By Ahmed Banafa

 

Uncertainty in the new style of business can be ascribed to three main categories: talent, technology and process. Such uncertainties are impacting IT leaders and business executives, academic institutions and researchers engaged in all three categories.

 

Talent

Universities have created new academic programs focused on data scienceThe shortage of data scientists is a prime example of uncertainty in the new style of business, and it has forced many universities to scramble to fill the vacuum generated by that shortage by offering new courses and degree programs. Among the positive outcomes of this hiring gap are new academic programs focused on data science, which is the study of where information comes from, what it represents and how it can be turned into a valuable resource in the creation of business and IT strategies. Another positive outcome is the development of new programming tools designed to deal with changing technology needs, including R, NoSQL and Hadoop, which are essential assets for data science teams. IT leaders understand the importance of such tools and have found productive ways to leverage these new technologies.

 

Technology

Predictions about the future of technology will always be uncertain. Some insight can be gleaned by studying existing patterns of the recent past and extrapolating those patterns to anticipate the directions various technologies may take. This applies to three major trends current in the tech world: cloud computing, big data and mobility, which are largely controlling the future of the IT market. To understand the magnitude of these developments, consider the big data and analytics market, which will reach $125 billion worldwide in 2015, according to IDC. Research institutions understand the impact of new technologies, and have taken the lead in researching app development and hardware/software design, while adding new focuses on security and forensics to accommodate this new style of business.

 

Process

Process may be the largest source of uncertainty among the three categories, because each situation has its own unique characteristics and as a result can impact a process differently. The optimization of business processes has a big impact on ROI, costs, speed-to-market and many other factors utilized by IT and business executives to make crucial decisions. IT and business executives would like to see improvements in all three categories, but process improvements are among the most challenging. As companies buy or upgrade technology over time, they can hire talent and train them to hit the ground running. But the improvement of a process requires real-time updates and non-stop reconfiguration.

 

Take for example predictive analytics, which describes any approach to data mining with four attributes: an emphasis on prediction, ease of use, rapid analysis measured in hours or days and the relevance of the resulting insights. Until recently, predictive analytics were the exclusive domain of academic research. But when social media and mobility opened the gates of big data, business leaders realized the benefits this process held for them.

 

To face the uncertainties of the new style of business, there must be a strong partnership between tech companies and their future employees in the classrooms. By strengthening the education-to-employment pipeline in data science and other in-demand areas, developments in talent, technology and process can be leveraged to alleviate some of the uncertainty around the new style of business.

 

IT can use its influence within the business to meet its goals – introducing not just technology, but the processes and workflows that enable growth, improve profitability, increase agility, boost productivity, improve the customer experience, increase innovation and reduce risk. Read the Best Practices: How IT megatrends impact infrastructure transformation to see how you can best use digital technologies to increase agility and boost innovation.

 

Bookmark, HP Infrastructure Insights to get the latest insights and updates on HP and the new style of business.

 

Best Practices: How IT megatrends impact infrastructure transformation

Thanks for reading,
Adrian
About the Author

Adrian_Velez

I have worked at HP for more than 16 years. I enjoy finding the stories that matter to our readers, and helping them solve everyday business challenges.

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