The use of technology now extends far beyond the simple desktop computer, especially in the business world. There are three interrelated changes that are affecting companies worldwide:
® The emerging mobile digital platform: More and more business computing is moving from PCs and desktop machines to mobile devices like IPhones, iPads, Smart Phones etc. Managers are increasingly using these devices to coordinate work, communicate with employees, and provide information for decision making.
® Growth of businesses use of big data: The use of Big Data — large pools of data that can be brought together and analyzed to discern patterns and make better decisions — will become the basis of competition and growth for individual firms, enhancing productivity and creating significant value for the world economy by increasing the quality of products and services.
All companies need to take Big Data and its potential to create value seriously if they want to compete. For example, some retailers embracing big data see the potential to increase their operating margins.
® Growth of cloud computing: Cloud computing is a type of computing that relies on sharing computing resources rather than having local servers or personal devices to handle applications. Main objective is to provide different services — such as servers, storage and applications —to an organization's computers and devices through the Internet. The cloud has changed the fundamental nature of computing and how business gets done. According to the research done by Global Industry Analysts Inc, cloud computing came as a boon for companies during tough economic and financial climate, given that the technology can potentially slash IT costs by over 35%