Technology is having an enormous impact on business. No matter what industry you work in, it is important to implement the right tools to support your business strategy and growth. But in this ever-changing world, technology is always on the move. That’s why a business owner like you should always be on the lookout for new technology trends to adapt to your needs. Here are some modern business intelligence tools you ought to know about.

The Internet of Things

The concept of the Internet of Things (IoT) is to embed electronic sensors into any physical objects, allowing them to be controlled via the Internet. This includes everything from mobile phones to refrigerators, washing machines and even cars. The idea of IoT is exciting and definitely practical in today’s technology-driven world. While the concept has been around for several years, many business owners still don’t even know what the IoT means. So let’s take a closer look at how IoT will impact businesses.

• Increased efficiency – Businesses will be able to connect devices for efficient, real-time operations. For instance, IoT can connect a warehouse system and point-of-sale scanners together to provide better inventory management.
• New business opportunities – Today there are approximately 10 billion connected devices, and this number is growing fast. IoT opens a door to new business opportunities as customers need new devices and services in their everyday lives.
• More security concerns – While the idea of connecting everything together is exciting, businesses will have to pay extra attention to security. More data stored online means increased chances of information theft and cyber security issues.

3D Printing

Some businesses have probably never considered that 3D printing could be of use to them, partly because they’re so accustomed to the traditional way of printing 2D materials such as posters and flyers. But now 3D printing allows businesses to manufacture three-dimensional solid objects from a digital file. Since the costs of technology are expected to decrease, 3D printing could be adapted to business practices for various purposes.

The main benefits of 3D printing for businesses are increased productivity and creative, customizable new designs. Product designers can use 3D software to speed up the creation of product prototypes. It also allows for remote cooperation between colleagues, which increases the ability to brainstorm ideas for faster product-development cycles. 3D printing processes are also highly customizable to suit the needs of clients.

The Enterprise Cloud

Companies are now familiar with cloud computing, having used it for data storage and synchronization for the past few years. But the enterprise cloud offers more flexibility and scalability than regular cloud computing, and is noted for its cost efficiency, security, and easy-to-use model. Enterprise cloud computing refers to a firewall protected computer system which is able to offer software, infrastructure and platform and web services. They can provide private access and a virtual scalable environment controlled by either a single company or consortium.

Nowadays, businesses require faster innovation, remote access, and better cross-product integration. This is where the enterprise cloud comes in; to deliver cost savings and provide better security to accommodate business growth. You’ll want to adopt the enterprise cloud to gain advantage over your competitors.

If you’re interested in boosting your business performance with BI tools, contact us today and see how we can help.