The coming years are growing up due to the advancement in technology and no disruption to the progress in development. Business growth is mostly the first topic upon which almost everyone is concerned. Beginning from 1765 yet till now we have seen 4 major technology revolutions which are, Coal, Gas, Electronics and Nuclear, and Internet and Renewable Energy. Every Revolution brought with it some advantages and some disadvantages. The major revolution which still pertains is the Internet.
Now and then we are seeing the majority of the generations using their smartphones and making themselves known to the world of the Internet. The Internet has been a vast virtual environment contained in a small smartphone gadget. You can get almost anything on the internet, from entertainment to connecting with your far-off friends. Everything can be done on the Internet with the press of a small button.
The World Economic Forum says that big companies are looking for those business trends and skilled people who can help them compete with the extremity in the future markets.
Talking about Business trends, let’s talk about 7 of those business trends that might have an impact on your growth in 2022,
Increasing Availability of Big Data
Let’s first talk about Big data, what it is and how it gets created. Big data is any collection of data that is huge and is so complex that no traditional tools can store or process it efficiently. Big data is a kind of data that is huge and is complex enough to not easily be managed. Big data is generated by everyone nowadays, New York Stock Exchange generates around 1 Terabyte of data every day, Social media generates around 500+ terabytes of data every data even a jetliner craft can create around more than 10 terabytes of data in just 30 minutes of flight time. With the help of Big Data companies aim to provide improved customer services. Many big data managing companies confront big companies to handle and store their Big Data efficiently through Hadoop and cloud-based Analytics.
Everyone nowadays has a smartphone, and with that, we need high-speed mobile internet to surf the internet and keep ourselves entertained. It’s like a genetic disease, everyone you see has their head and eyes buried in their smartphones. Surely smartphones have helped us in several ways but the disadvantages it is providing are way worse. According to a report, two-thirds of the total global population are mobile subscribers and the rest are computer users. Opportunities in developed nations for mobile consumerism will also play a part.
Artificial Intelligence is already being developed and made efficient at a much faster rate than ever before. Many big companies’ executives believe that Artificial Intelligence will help their business obtain or sustain a competitive advantage over the years. Artificial Intelligence is being implemented by many chatbots and smart speakers like Alexa, Siri, etc who have already started the use of AI at the use of customers. AI will somehow or the other play a role in substantially increasing the overall growth of the company as the workload and efficiency of the company will be increased.
Let’s define and simplify the word, “cloud” first. The cloud in simplest terms is any such virtual space where you can store your pictures, songs, documents, etc. People often confuse the word cloud with the Internet and think of the cloud as a secondary Internet, but no. The cloud is just a small part of the Internet that helps users to store their virtual data.
Now the question arises, what is cloud Technology?
Cloud technology allows the user to access this stored data in the cloud by the medium of networks -often satellite networks. Cloud technology allows the user to share data and applications across the world without any restriction of the physical world. Cloud technology will be majorly affecting the growth of a business positively if the business is adapted to use cloud technology at the most. According to a report, 72 percent of the companies are likely to expand their approach towards cloud technology and cloud computing by the mid of 2022. This adoption of Cloud Technology will make businesses more efficient and agile while reducing the overall cost of sharing information for the companies.
The increased access to education is mostly due to the rates at which technology is being adopted and used. The businesses and industries are the most affected by this socio-economic trend. Some companies which are affected include aviation, travel and tourism, mining and metals, and professional as well as domestic services.
Advances in New Energy Supplies
Renewable Energy Sources are rapidly emerging in the technology phase. When coupled with technology Renewable energy supplies and major advances in technology will drive business development in many industries and at a much faster rate than before. New renewable energy sources are mostly covering up the major sectors of technology with the increased demand for desalination(the process of removing salts or other contaminants from seawater).
Expansion of the Middle Class
According to the Economic Forum, the total of the people living under $1.25 has reduced by one-half and the population of the world is on the way to meet the global middle-class mark. As said by the Organisation for Economic Co-operation and Development that the global middle class could double by the year 2021 and triple by 2030. It is said that this is due to urbanization, including greater access to education, technology, and opportunity.
A company’s growth can be due to many factors including employee performance, contract making, the performance of the company as a whole, etc. but the major factor which makes a company’s growth variably increased or decreased is still the technology. These were the 7 trends or factors which somehow have a great impact on many businesses whether big or small.
I am Ankita Kaushal. I am a business woman, a business coach, an entrepreneur. I’ve been working on an idea for a post about Online Business. I help many small business owners in their startup Online Business. Get in touch with me regarding any online business quarry on Linkedin.
I am Ankita Kaushal. I am a business woman, a business coach, an entrepreneur. I’ve been working on an idea for a post about Online Business. I help many small business owners in their startup Online Business . Get in touch with me regarding any online business quarry on Linkedin.