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Technology and Business

While the renewable energy revolution is ongoing, researchers and governments have already started plotting the next big thing- energy storage. The rapid adoption of electric vehicles is bringing down battery costs. Investment are now being made on the future of Transmission and Distribution (T&D) to eventually restructure the power markets and digitize the electricity bionetwork. The field of energy storage also brings in opportunities for utilities. These utilities must understand the utilization of business analytics as that will give them mastery over the entire process. This partnership between data and utilities can bring far-reaching business benefits. Some companies such as Amaresco and Ener NOC have already ventured into energy storage. The disparate electricity grids from separate energy sources are also being integrated together through such systems.

Source:https://www.bain.com/insights/embracing-the-next-energy-revolution-electricity-storage/

Uploaded Date:13 September 2018

Business transformation in the wake of rapid digitization is something that most organizations are grappling with these days. Digital natives have turned into disrupters in their sectors, with Uber to the taxi industry being an example. No transformation effort however will be successful if the focus remains on technology alone. The most important aspect that all must consider are the people involved. That is why people analytics has become a key change element. It is a combination of the business analytics capabilities with an understanding of the human factors. It replaces previously used anecdotal evidence risk-avoidance strategies and an adherence towards hierarchy with experimental research, forecasting and data analysis. Process transformation is usually performed top-down due to the complexity. Cultural transformation on the other hand is done bottom-up as it involves the participation of the entire team.

Source:https://hbr.org/2018/05/how-people-analytics-can-help-you-change-process-culture-and-strategy

Uploaded Date:16 August 2018

A century ago, the most valuable resource for whose custodial rights companies were ready to slug it out was oil. But today that resource is data, prioritized by IT giants such as Apple, Amazon, Alphabet, Microsoft and Facebook. In a single recent quarter alone, these big five racked up profits to the tune of US$25 billion. Facebook and Google alone account for half the revenue growth in digital marketing the previous year in North America. Proposals have been made to cut them up like Standard Oil was about a century back. This in spite of most services being free and the constant competition experienced from newer entrants such as Snapchat. The one thing giving these titans unimaginable power is their hold over data warehousing. The business world is now operating within a data economy. Even traditional giants such as Siemens and GE have turned themselves into data firms. These tech giants have leveraged the network effects. Some steps are being taken up by proactive governments in Europe and India to stem the tide, meaning these firms will now need to share more of their data.

Source:https://www.economist.com/news/leaders/21721656-data-economy-demands-new-approach-antitrust-rules-worlds-most-valuable-resource

Uploaded Date:28 July 2018

Global consulting giant Accenture has long been known for its position as a “fast follower”. Instead of being an innovator, the company adopted the strategy of aping any innovation at scale. However, this strategy was failing in the digital age as by the time they would catch up the technology would fade away to be replaced by the latest innovation. While changes have been afoot for a while, the latest ones in digital marketing, cloud computing, mobile apps, cybersecurity, artificial intelligence, encryption and business analytics has given a total different dimension with more to come. Blockchain, immersive reality and quantum computing are not yet there, but coming for sure. Even the products that companies have been providing to customers for years are experiencing an evolution. IT in business is no longer a technical advantage but indeed a tactical one. New technologies are penetrating multiple parts of companies while also improving the productivity of workers.

Source:https://www.forbes.com/forbes/welcome/?toURL=https://www.forbes.com/sites/richkarlgaard/2018/07/17/how-giant-accenture-learned-to-run-at-digitals-fast-pace/&refURL=&referrer

Uploaded Date:20 July 2018

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