Some say data is the new oil.
This, of course, is a figure of speech. We all understand that data is not a fossil fuel. We can’t run our cars on it. Nor can we heat our homes with it, yet! But, in a less literal sense, the analogy of data as oil can apply. Similarly, as with oil, data only begins to have value when it is unearthed from the depths of data lakes, data warehouses, databases, and data repositories and is put to good use.
And, data begins to have the most value when we unearth it using creative ways. Enter the creative, emerging technology applications such as AI, IoT, and blockchain applications and chatbots, also known as digital assistants, that can help humans discern the signal from the noise.
These easy to use, sophisticated, emerging business applications can create new business value by unearthing data to:
- Predict, project, present and deliver what customers and companies need next
- Sense when to provide service to customers
- Track and validate transactions across an entire industry
- Answer a variety of questions through natural language voice interface for instant resolution.
With the use of emerging cloud technologies, some businesses are stepping into the future with their own AI-based prediction machines. And an “answering machine” aka Alexa or Siri takes on a brand-new meaning in the 21st century.
With all of this emerging and exciting SaaS technology, many customers still have many questions. Common questions we hear from those that are examining these technologies are:
- “What will the future look like for my business and my industry?”
- “How does our business harness the power of data and emerging technologies to benefit?”
- “What questions do I need to easily answer for my customers, answer for my employees?”
To help with those questions, we recently took a deeper look at how specific business processes could be impacted by emerging technologies. We examined how areas in finance, supply chain, customer experience and human resources might receive the most benefit from early stage emerging technology usage with AI/ML, IoT, blockchain, and digital assistants.
We would encourage you to take a quick peek at the future of business process by viewing the Introduction to a new ebook from Oracle called Modern Best Practice – Predicted.
This intro is an eye-opener as it cites specific processes to consider when applying emerging technology to your business. It can help take the guesswork out of how your business can benefit the most from easily accessing data with cloud applications.
Stay tuned for the completed ebook with more predicted business processes to come.
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