Bit120 m04 l04 - use of technology in business

© 2011 Neumont University

Uses of Technology in BusinessTECHNOLOGY IS INTERWOVEN INTO EVERY ASPECT OF BUSINESS


Four Megatrends• Four technology “megatrends” clearly have a significant impact on business

today …– Mobile Computing– Social Media– Cloud Computing– Big Data & Analytics

• Digital transformation is occurring rapidly at a majority of public and private sector organizations.

• Business leaders are not simply deploying these four technologies to boost efficiency or otherwise cut costs.

• Firms are embracing these megatrends to craft new business models, develop new revenue streams, or drive other material changes that lead to an increase in the top or bottom lines.

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Transformative Impact of Technology• Mobile technology is enabling new business scenarios• Cloud computing is driving business agility• Big data is helping companies innovate• Social channels are transforming core business processes

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Technology Delivers Results• Getting to market faster and more effectively• Innovative new business models, products, and services• Optimized business operations• Exceptional end-to-end customer experiences

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Challenges & Risks• Data Security Issues• Lack of

Interoperability with Existing IT Systems

• Lack of Control

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Data Security Concerns• Leaked Database Usernames & Passwords• Stolen Credentials & Phishing Attacks• Data Lost in The Cloud• Infected Customer Computers & Compromised Privacy• Hacked E-mail Accounts • Flaws in Software

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Mobility = New Business Scenarios

• Airlines• Banking• Shopping• Music• Meetings & Communication• Marketing

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Cloud Computing = Business Agility

• Project Management• Customer Service• Customer Resource Management• Enterprise Resource Planning• Marketing

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Big Data Enables Innovation

• Strategic Planning• Recognizing Trends• Predictive Solutions

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Social = Enriched Business Processes

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Deploying Integrated Solutions• Deploying integrated solutions is where the

greatest impact is achieved.– For example, Thomas Horrom, VP of

Technology for the Detroit Lions said, • “There’s less value to the Lions in

having big data coming in if we don’t have a method of computing in the cloud, or on premises, to interact in real time with our fans via a mobile platform.”

• The likelihood that organizations will be beneficially transformed is significantly greater among those that deem multiple technologies to be critical.

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Strategic Direction• Innovation and improved

agility are not simply a result of spending more on IT.

• Business executives should be assessing the various business capabilities of their organizations and developing a strategy and a road map to improve and differentiate their core capabilities with these digital technologies.

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Knowledge Categories• Explicit: Examples of explicit knowledge are assets such as patents,

trademarks, business plans, marketing research, and customer lists.• Tacit: The knowledge contained in people’s heads.

– The challenge inherent in tacit knowledge is figuring out how to recognize, generate, share, and manage knowledge that resides in people’s heads.


Knowledge Protection• KM has assumed greater urgency in American business over the past few years

as millions of baby boomers prepare to retire.• When they punch out for the last time, the knowledge they gleaned about their

jobs, companies, and industries during their long careers will walk out with them—unless companies take measures to retain their insights.


In-class• Question & Answer• Research Examples• Case Study• Discussion for Complete Understanding

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