The world of business is witness to the fact that the companies with better decision making skills have always performed better in their respective fields. And better decisions need information. Information is one of the basic requirements of any organization whether it is an established enterprise or the one which is striving to grow. It is not just limited to decision making but has its impact on a much comprehensive level. Correct information offers higher efficiency in operations by giving insights about important aspects such as requirement of raw materials, demand of stock, proper allocation of resources, etc.
It also offers advantage over the competition as more information leads to better understanding of customers which leads to better lead generation ultimately resulting into a huge, satisfied customer base. This also helps in building good relationship with suppliers. Hence it is a win-win situation from business’s point of view.
However, retrieving important information from data and utilizing it best for the purpose is not a cakewalk. Both the generation and consumption of information nowadays is dealt on a massive level and being swamped in the middle of it, it is very difficult to find what is significant. That is where Information and Communication Technology (ICT) comes in the picture/foray.
In simple words, ICT helps businesses all the way from retrieving information to sharing, exchanging, broadcasting, storing it as per the requirement of the companies, to optimizing the tools and platforms on which it is being shared, exchanged, broadcasted and stored. Now, one might ask, weren’t businesses capable of performing such simple tasks? The answer lies in the fact that the role of ICT isn’t as simple as defining it in simpler terms.
The role of ICT starts at a primal stage of data modification where it analyses data to convert it into useful information. With the help of technologies such as Artificial Intelligence and Machine learning, data becomes useful in almost every aspect of business from day to day processes like client acquisition to fundamental processes such as business strategy, design, engineering and controlling.
Automation is also included in one of the key functional areas which are redefined by ICT. This will lead to a range of services provided by self-managing devices. Smart handling of data will help these devices to optimize the productivity at workspaces. This will also provide better controlling and security.
The rapid growth of ICT industry and its collaboration with other technologies has a lot to promise. It is believed that this will push communication beyond the dimensions of vision and sound. With the emergence of technologies such as virtual and augmented reality leveraging support from 5g networking, it is possible to have virtual events in the near future. However, the ease of sharing information will only increase the risk of security breech. Therefore, next level security has to be a mandatory service in the future.
The digital revolution has brought us to the door steps of an era where machines and human beings communicate with each other, know each other, and understand each other. This means that the future is filled with infinite number of opportunities and will be driven by unprecedented information and communication solutions. And the world is going to be smaller than before.
However, such clarity in the future of ICT industry wouldn’t be possible without its key players. There are various companies that have helped the industry reach to the heights where it is today. Therefore in order to acknowledge some of the greatest contributors of excellence in ICT solutions space, Insights Success has shortlisted “The 10 Most Innovative ICT Disruptors to watch in 2019”
Featuring as our Cover Story is Endava, a public technology company, with over 18 years of experience of working with some of the world’s leading Finance, Insurance, Telecommunications, Media, Technology, and Retail companies.
Also, make sure to flip through articles, written by our in-house editorial team as well as CXO standpoints of notable industry personalities to have a brief taste of the sector.
Let’s start reading!
Quote: “With ICT, the world will become a smaller place.”
– Shubham Khamparia