5 Business Tech Trends in 2022
People’s long-established ways of working and living have undoubtedly been turned upside down in the past few years due to impact of the ongoing pandemic. Fragile supply chains, unreliable information sources and new customer and employee needs continue to pose a major challenge for companies.
The ability to adapt to these challenges has been crucial as the most successful companies are those that have become both masters of change and leaders in technology. The rapid rise of digitization has made technology an essential element and success factor in the global economy. So, let’s look at what tech trends are going to shape the business world this year.
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1. Decision Intelligence
Decision Intelligence (DI) aims at improving organizational decision making based on AI. The technology has already been around a few years, but improved and advanced AI has brought new possibilities to DI as well. Still, DI does not make human decision-making obsolete, but rather complements the decision-making process with real-time data and insights. This enables companies to make more informed decisions by giving them a better overview of what’s happening at the enterprise level. In addition, it is always results-driven, providing recommendations for action based on specific business needs.
2. Data Fabric
This describes the integration of data across platforms and users. The goal is to simplify the use of existing data and reduce data management efforts.
Properly implemented, a Data Fabric makes data available wherever it is needed, regardless of where it is stored, thanks to flexible, resilient integration of data sources across platforms and business users.
In addition, the Data Fabric can use analytics to learn and actively recommend where data can be used most effectively.
3. Data Hygiene
In addition to data fabric, which is about accessibility and flexibility, there is also data hygiene, which is about ensuring that the data companies use as the basis for business decisions is of high quality. The biggest challenges - various data sources, fragmentation, legacy systems, different formats, etc. - are tackled by other items on our list of trends. At the same time, the establishment of data governance rules as part of data hygiene will help to ensure high data quality in the future.
4. Process Mining
We are obviously very happy to watch this technology appear on many trends lists in recent years and see it continue to grow. Process Mining helps companies understand and design their processes to meet the demands and challenges of the transforming working world. Process Mining uses the data that already exists in companies to reveal and visualize the underlying processes, uncover bottlenecks, and unlock improvement potential. The strength of the technology lies in its versatility, which makes it possible to improve central business processes such as O2C or P2P, as well as remote work or HR processes such as onboarding, but also to respond to, for example, supply chain disruptions.
Often mentioned in the same context as automation at scale, hyperautomation refers to a disciplined, business-focused approach to quickly identify, review, and automate as many business and IT processes as possible.
Hyperautomation enables scalability, remote operations, and business model transformation as it frees up staff to work on more important problems, or even problems you never thought you could handle. Hyperautomation’s focus on quality, speed, and improved decision-making ties it right in with the other technologies on our trends list.
It is obvious that this year is all about using data wisely and effectively to gain increased transparency, make decisions efficiently and get the right information to the right people. The popular coinage of data as the new gold has been around for a while but it looks like more and more companies are embracing data as a key driver of business success as the technologies that make it more accessible and usable become more widespread.