Half a century ago, it would be inconceivable to imagine businesses being as close to one another and their customers as they are today thanks to mobile technology.
From the ability to call anyone from anywhere at any time to instant messaging services with group chat support to cloud-based tools that allow employees to remain productive even when at home – the business landscape has been forever changed, and everything indicates that the mobile revolution is just getting started.
According to a report by the investment database CB Insights, mobile-first technologies have lowered the average cost of starting a new business from over $4.5 in 2000 to $4,500 in 2011. The same technologies have also increased employee satisfaction, with 39 percent of employees now identifying the ability to work anytime, anywhere as the single most important factor in whether they are satisfied with their jobs, according to data from data networking solutions provider Aruba Networks.
As mobile continues to penetrate the business landscape, companies with workers spread across large distances are becoming increasingly aware of the importance and benefits of mobile analytics supported by big data.
American global management consulting firm A.T. Kearney predicts that spending on big data hardware worldwide will increase at an annual growth rate of 30 percent through 2018, and research and advisory firm Gartner supports this prediction, expecting the trend to continue for quite some time.
“[Mobile analytics] puts you in control, 24-7,” explains Andy Richley, business development manager at ERP provider Khaos Control Cloud. “Whether you’re in the office or in a meeting, you can drill straight into your accounts. My managing director will say: ‘I can show you how my business is performing’ [and always be] in a position to do that.”
Businesses that decide to invest in mobile analytics can expect to see a significant impact on their ability to continuously increase their operational efficiency and competitive advantage, both of which are paramount when it comes to competing on the fierce global market.
In the near future, the data generated by mobile devices will likely become intertwined with data coming from IoT (Internet of Things) and IIoT (Industrial Internet of Things) devices, allowing businesses to accurately and precisely manage not only their workforce, but also their equipment and individual processes. By 2025, global statistics portal Statista forecasts the number of internet-enabled devices installed worldwide to grow to 75 billion, from 25 billion today. The added pressure to innovate can lead to the demise of those businesses who fail to embrace these and other emerging technologies. At the same time, the same technologies will present a tremendous opportunity for smaller players, helping them compete with large enterprises even with very limited resources.
