Internet & Life

Internet has become an indispensable part of everyday life. On an average, an employee working approximately 9 hours a day. He spends around 2 hours of that time checking personal emails. Also, he checks his mobile phone 10 times an hour generally (Reuters). Hence, Internet as a necessity is costing an organization 2 hours of productive time per employee. To be able to maximize productive time has become a challenge in this generation. A recent trend towards a lightweight and virtually centralized network control is being adopted by organizations to tackle this issue at hand. Adapting to such kind of network infrastructure within the organization facilitates scalability, reliability and efficiency in management. Digitizing the core business processes through predictive workforce analytics, results in performance breakthroughs and higher levels of productivity runtime.

digital technology

Digitization – The new wave

Keeping in mind that Digital has become an ongoing priority, a similar approach to solve the aforementioned problem would be through cloud computing. We should view cloud computing as an evaluative infrastructure tool which focuses on relationality, generativity and new forms of control whilst actual power remains centralized. In layman language, cloud computing refers to practice of creating, managing, analyzing and storing data and services on the cloud i.e. virtually.

Cloud Computing

The major benefit of the shift to cloud computing is the substantial increase in business agility. This increased level of organization agility has helped businesses to keep up the pace in a rapidly evolving competitive landscape. A research from Harvard Business Review Analytics Services reveals that cloud computing not only increases business agility but has also improved innovative capability, analytical efficiency, software quality and reliability, etc for more than half of the organizations surveyed. . In a digital world, development of  organizational flexibility, cross-functional collaboration, decision making based on quantitative analysis, linking strategy to execution and continuous adoption of must-have skills through the cloud is essential to build a more adaptive management model.

Risks

Yet, cloud computing has its own set of high-risk challenges. The most critical challenge is security of all the data on the cloud. Given this concern around security, it is surprising to know that there are many organizations even today who are not aware of the security aspect of the cloud. Even though cloud computing has been around for more than five years now, there has been little development in this regard and this makes cloud computing risky business. Hence, we can rightfully suggest that the current version of the cloud has come of age.

Types

Traditional cloud markets like IaaS (Infrastructure as a Service), PaaS (Platform as a Service), SaaS (Software as a Service), have become blurring and need reconfiguration going into the next generation of digitization. Since cloud computing has lowered barriers to entry, competition has greatly increased and incumbent organizations need to rethink their strategy to maintain competitive advantage and survive in the long run. Since cloud computing is entering the second phase of entering in the core application of businesses, an upgradation is the need of the hour to ensure that the cloud is not just a wave but a tide that is in constant and powerful flux.

Solution

A feasible solution for the data security threat has been an ongoing challenge for the next generation of digitization. Cloud computing came in through the end-door. All organizations gradually incorporated it as the core function of the business. Since then, there have been some agile developments in digitization which have provided an alternative for cyber security threats to some extent. For example, Blockchain is emerging as a form of digital era triple entry bookkeeping.

Blockchain allows both data and digital money to be transferred by using a distributed system. It uses secure, encrypted transactions on multiple computers. No single machine contains all the data. More devices that are running Blockchain software, the more secure it becomes. Blockchain is still in its development stage. An extended research is essential to understand its implications on all other sectors. Only then, it can be adopted globally.

Radical Innovation

Digitization is radically innovating the business process. For example, Amazon has successfully reduced 25-50% of its costs and allowed 24x7x365 availability. This was only possible as a result of Robotic Process Automation in its warehouses. All organizations today are implementing a holistic approach of finding a digital solution for a business problem. One can achieve competitive advantage by digitizating processes to ensure that they ‘Disrupt before being disrupted’

FavoriteLoadingAdd to favorites