2015 has been a year of self-realization for the technology industry. Innovation and startups rising from everywhere across the world has indicated the flatter nature of the world. Consideration of local contexts and solving local problem locally has become the name of the game. Best practices and heritage have been ruled out by innovation, relevance continuously. We believe that the trend will continue to grow.
Golden rule of generation of 80% revenue from 20% top paying customers have exposed companies to greater risks and eventually thrown many of the players out of the competition. The longer tail has become more and more important. It is the capability of serving a relatively larger customer base that will be the difference maker. Companies will require to focus on enhancing the service level for all specially the mass of its customer base instead of treating a few key/game accounts royally. Cost efficiency targets will force the key/game accounts to leave out the preference of royal treatment of customized services and move to public technology services. It will be the mass account service quality and service level that will become more and more important.
2016 will continue along the same line. As per our projection, the trend will move along some new fundamentals as delineated below:
Asia will no longer be the back office or cheap factory of the western world. Companies from Asia will emerge has technology leaders in the market. The huge population and dynamic nature of native population will give birth of confident technology startups solving local problems through their innovative solutions and will further scale up to fit the global domain.
Staying relevant means opening up and integrating with relevant partners. All contained within the own domain will make the business irrelevant. Reaching out to the customers in all new places and making the buying journey convenient and rewarding will drive the game. Concept of best practices will be re-defined in most industries. It will be a reinvention of best practices with every new customer journey and collaboration. Offering and selling services through web and mobile channel is a norm now. Integrating with business partners like Distributors, Suppliers and Bankers at system/solution level will play vital role in delivering with efficiency. Integrating with Social Media specially enabling customers to consume, order and engage with the brands/products will become imperative in order to know and serve the customer through the lifecycle.
Users will no longer be loyal to any single brand, device or platform. Multi-device will be the norm for all context. Seamless experience across platform and devices will give significant mileage to any solution. Starting a communication thread in laptop and carrying it across mobile devices is already a norm. The trend will continue to be adapted in entertainment, shopping, financial services everywhere. Starting a working in a worksheet or document from office pc and reviewing it from mobile or a tab is also becoming common regardless whether the user device runs iOS, Android, Windows or anything else. Besides, the mobile, tab and laptops/pcs – TV’s are becoming smarter, wearables are coming up and integrating in the device mesh. The trend will continue to grow.
Streaming on devices including TV will continue to rise making the cable television through wired or wireless channel less attractive. Spending on them will shift to streaming subscriptions. Television Channels will be more active in streaming business.
All service delivery and user engagements will gradually start to happen over software. Hardware and platform will become transparent and irrelevant to users and will adopt and scale up based on volume and complexity riding on the strengths of software. With the explosion of device and platform technologies, there will be more and more user end device with a range of platforms. The server-end technology has enhanced and will continue to improve and will make hardware strength irrelevant in the competing space. It will be the software platforms and specific user experience through the software that will be the differentiator. Starting from the servers to the fashionable watches that we will be using have already started to become hardware-agnostic – the trend will continue to grow. It will be software that will run on those platforms will make the difference.
Even home users will start considering data security and intrusion as a problem that will need a solution. Security won’t remain in the large corporate only. Explosion of interconnected device mesh and software defined network and service delivery will expose the individual and small businesses to security risks.
Identification of user and reliability of telecom network will redefine their position in the market. Because of its reliable huge reach and convenience – customer engagements will be done more around telecom ecosystem. The fight among the OTT’s and telecom operators will start to subside and they will start working together to deliver better value to the end users.
Web sockets will become the mainstream and primary technology for application development. Cross-platform experience will become imperative and websoket will become the natural answers considering the overhead required for remaining native across all platforms.
World will continue to change and new dimensions of business will start to emerge from everywhere. Staying relevant continuously by covering the shorter lifecycle of products, services and content will be the strongest challenge that all business will face at every step in 2016.
2016 will become a year of innovation for real value addition by remaining relevant to the user continuously. Are you ready?
Firoze M. Zahidur Rahman is the CEO of SSD-TECH Ltd. he can be reached at email@example.com