As technology becomes all pervasive across organizations, it brings with it the risk of falling victim to cyberattacks — a potent risk that has attracted attention like never before. Are organizations across the corporate landscape alert to this emerging risk that is real? As and when a cybersecurity breach occurs, the severity of its impact will depend on how prepared and proactively engaged the board is with this challenge.
Digital is fundamentally changing how companies do business. Enabled by data and technology, digital is a continuous form of disruption to business models, products, services and experiences. It has radically changed the way people consume content, communicate, and access products and services.
The technology landscape is changing rapidly and commoditization of technology is the new norm. The next-generation digital trends – Social, Mobility, Analytics and Cloud (SMAC) – have transformed the way businesses are run.
The Internet of Things (IoT) overtook big data as the most hyped technology in 2014. Experts predict that IoT will be a potent and leading business technology-enabler of the next decade. According to an independent research firm, technology and services revenue from IoT is expected to expand from US$1.3 trillion in 2013 to US$3.04 trillion in 2020 with a compound annual growth rate of 13%.
Digital growth in India has shown a tremendous spur among organizations and has significantly impacted the consumers, services in the market. Our annual Enterprise IT Trends and Investments Survey titled SMAC 3.0: Digital is Here covers the journey of the Social, Media, Analytics and Cloud (SMAC), areas that have been the latest buzzwords among IT strategists. The survey, which was aimed to capture key IT priorities and initiatives taken by organizations across various sectors, provided meaningful insights from the 267 CIO’s that responded. The results clearly highlight that the direction of the respondents’ current and future plans align with the ‘Digital India’ story.
Proliferation of data and technology has molded how people consume content, communicate, and receive products and services. This new “digital” wave is also transforming how companies do business — disrupting their existing operating models and changing the way they interact with their customers, suppliers, employees, shareholders and the public at large. Research elucidates that digital disruption has led to more than 52% of the Fortune 500 companies either going bankrupt, closing down, or being acquired, since 2000. Moreover, the scale of this disruption is expected to impact companies across sectors. Amid this rapidly changing business environment, a company’s survival would be dependent on its response to the digital challenge.
The Indian e-commerce sector is expected to grow 70 per cent in 2015 and cross $6 billion to become one of the fastest-growing e-commerce markets in the Asia-Pacific region. Market players are providing various incentives to lure customers in order to gain market share. They have adopted a low margin and high customer acquisition cost business model. However, players must focus on long-term value creation while racing for the bigger piece of the pie.