Prediction is very difficult, especially about the future.
By Niels Bohr
While notables as great as the Nobel Laureate Niels Bohr have cautioned against the act of predictions, predicting the trends one year hence in 2014 should be less hazardous a task. 2014 is the landmark election year and a lot of the sentiment will depend on whether the power will remain in the hands of the two main parties or the same will be diffused amongst the regional parties. Since sentiment drives business which in turn drives IT spending this will be a crucial fulcrum.
From risk management getting bigger to IT investment growing carefully and enterprises using Social Media for better decision making, read about how 2014 promises to be an exciting year for enterprises as they look to scale the next big business challenge.
Notwithstanding the political scenario a few obvious trends are listed below:
Enterprise IT investment will grow albeit carefully
As enterprises get set for the next phase of growth, IT investment too will grow. Over the last 2 years most organisations have been focused internally towards cost & resource optimisation of IT assets, also the challenging economic scenario across the world and in country. Mid 2000s witnessed an unbridled growth; however the same is not likely to return as enterprises take a measured approach to investments. Anything that does not meet the return-on-investment criteria is not likely to make the cut. As the prospects for growth improve enterprises will look towards revenue maximisation and invest in technologies which directly impact the topline. Customer facing technologies, supply chain technologies should witness investments.
Enterprise IT will focus on newer technologies
Enterprises will go to the next phase of IT investment with a note of caution & a touch of creativity, panache. The four big forces of IT: Social, Mobile, Analytics & Cloud will influence a lot of the spending. In particular, the hybrid cloud is likely to see quite a few takers due to its lack of upfront investment in skills or hard cash. Cloud services providing infrastructure like storage are already quite popular, but the push into cloud will come from business functions like human resources, customer experience & procurement. This way the enterprises are likely to toe-dip in the cloud technology.
Analytics get deeper
Over the last years Analytics has exploded as a market. With its wide usage of applications such as ERP, corebanking and other core transactional systems mature and provide quality transactional data for analytical applications. 2014 will see increasing experimentation around predictive and prescriptive analytics, as having tamed the historical data monster, enterprises will move the next level to find out what future predications they can make from the data. Enterprises will increasingly exploit social media and other external sources for analysis and better decision making.
Risk management gets bigger
Governance, risk and compliance is set to see big growth as enterprises learn from their yester years mistakes and now put adequate controls, risk measurement and mitigation measures. Banking & financial services organisations will remain at the forefront followed by technology and communication sectors. Technologies dealing with protection of internal data will also grow as organisations experiment with BYOD and mobile technologies.
Customer will be the king
A lot of the businesses will focus on technologies that surround the customer experience. Mobility & CRM will be the exploited technologies for the year.
Open Source technologies will become streamlined
Enterprises are facing complex licensing terms and increasing costs of software from large IT vendors. The improving quality & increased reliability of offerings from local players around open source technologies will push larger numbers of enterprises towards them for newer technologies. Open source technologies once patronised by large government organisations and small enterprises are looking to increasingly break into the stronghold of larger well established global giants. Newer platforms like mobility, analytics and big data are the new battleground for such guerilla warfare.
All in all, 2014 promises to be an exciting year for enterprises as they look to scale the next big business challenge and move on the growth paradigm.