Archive for category: News

Infor recently announced its completion of the first two stages of a multi-tenant cloud ERP deployment at Croatian mobility company Project 3 Mobility (P3). The project has been launched to produce urban autonomous mobility services for the European market. Per the press release, P3 is a start-up organization connected to Croatia’s Rimac Group and is dedicated to urban mobility services based on fully autonomous electric vehicles. They are in a unique position to prioritize the user experience and personalization as part of its proposition. Moreover, Infor was selected based on the tech giant’s credentials, the commitment of its people, industry expertise and out-of-the-box functionality. After a successful go-live for human resources capabilities earlier this year, P3 has also gone live with finance and procurement in Croatia and the UK, following a migration of balances, open invoices, and budgets from its legacy technology environment. Once the factory is built, P3 will deploy Infor CloudSuite Automotive’s manufacturing capabilities.

For Full Article, Click Here

While technology’s goal is to solve problems for businesses and consumers, there are challenges for technology itself. The constant new discoveries from tech, for example, prove to be a constant challenge for tech leaders to keep up with their own technology as well as their competitors. Below, 20 members of the Forbes Technology Council highlight some issues that tech companies are facing right now and how individuals and the industry as a whole can address them.

1. Dealing With New And Increasing Cyberattacks. “The increasing frequency and sophistication of cyberattacks is a continuing issue for tech companies and any organization that uses computers. Technology companies should invest in cybersecurity solutions and their people to better detect, prevent and respond to various types of cyber threats. Every organization should regularly test its defenses to ensure security measures are up to date and effective.” – Tim Medin, Red Siege
2. Leveraging New Technology For Tangible Business Outcomes. “The top issue facing the technology industry continues to be how contemporary technology can be leveraged to realize tangible, defined business outcomes. Given the explosion of digital technologies and their fast evolution, end-user industries are finding it hard to create business-led technology adoption pathways that help them break out of their legacy technology capabilities.” – Sandeep Kumar, ITC infotech
3. Maximizing The Capacity And Capability Of Teams. “Every technology company is under pressure to perform and grow profitably—a shift away from the “grow at all costs” model of the past. This usually means adding fewer people while still expanding the work. Companies must focus on reducing job complexity while investing in training to increase the capability and capacity of the team. Prioritize through a lens of largest impact for the customer.” – Lou Senko, Q2
4. Harnessing AI’s Potential. “The integration of artificial intelligence has become a major concern in the fast-paced world of technology. While some fear job displacement, opportunities for growth and innovation are real. Creativity will be crucial in navigating this evolving landscape to chart a successful path. Leaders must foster a culture of experimentation and mutual respect to fully harness AI’s potential.” – Edwige Robinson, T-Mobile
5. Proving They Have A Unique Selling Proposition. “Few sectors have been more impacted by recent economic shifts than the technology sector. Pressures continue to mount as tech companies exhaust the massive influx of funding seen in 2020 through 2022, so it’s incumbent on tech companies to prove their longevity, their innovative niche or, at minimum, their compatibility with a tech stack that makes them desirable for acquisition.” – Elizabeth Duffy, Astraea
6. Leveraging Generative AI. “Generative AI will change the game forever. How do you control it, and then how do you leverage it? The best way is to eliminate repetition. Generative AI has proven to be highly effective at tasks with boilerplate code, as well as tedious work such as documentation. Organizations willing to rip the Band-Aid off now will race ahead of their competition.” – Andrew Lau, Jellyfish
7. Doing More With Less. “Industry pros must do more with less, secure the hybrid cloud and embrace AI and automation while achieving compliance, modernizing infrastructure and furthering the zero-trust journey. Leaders should rationalize infrastructure and tools to lower costs while leveraging immutable network intelligence to make new, AI-based security and performance solutions reliable and effective.” – Shane Buckley, Gigamon
8. Recognizing Hype Cycles. “I think the biggest issue is hype cycles. What we have seen with crypto, the bank crisis and now generative AI are rapidly moving trends that have been called “hype cycles” because of how much content is pushed focusing on one topic. I think it is important for industry leaders to recognize when we’re in the midst of a hype cycle and react thoughtfully.” – Caroline McCaffery, ClearOPS
9. Dealing With A Shortage Of Ready Talent. “The lack of ready-to-deploy talent with in-demand skills is constraining business transformation. Technology advancements have outpaced talent readiness. A case in point is generative AI, which has made a loud entrance. Leaders need to build an organizational ecosystem that attracts, trains and retains talent. AI-enabled processes, tools and accelerators can help teams achieve higher productivity.” – Prashant Bhavaraju, TRIANZ
10. Managing Technical Debt And Tool Sprawl. “All technology leaders today face continuously expanding technical debt and tool sprawl. These challenges are exacerbated by the ever-accelerating pace of new technology introduction, which continues to outpace IT resources. To overcome this, leaders should shift to a continuous refactoring mindset and deliver automation and empowerment with high-productivity tools to accelerate business value.” – Jeremiah Stone, SnapLogic
11. Preparing For Emerging Financial Pressure. “Tech companies are up against financial pressure as the stock market is moving sideways and investments have dried up. The biotech industry is facing additional hurdles, as many major pharmaceutical product patents will expire in the next seven years. As these products total $200 billion in revenue, companies must use AI to rapidly innovate and replace this potentially huge loss.” – Carl T. Foster, Standigm
12. Ensuring Real-Time Execution And Availability Via The Cloud. “One major challenge is leveraging cloud tech for real-time execution while remaining available during connectivity gaps. Balancing edge capabilities and cloud hosting raises questions about duplication and security. Frank discussions on solution availability, security and costs, along with improving connectivity options, can guide decisions. Simplified technologies for on-premises deployment offer potential solutions.” – Bill Rokos, Parsec Automation
13. Addressing Poor User Experiences. “Businesses must recognize the true costs of a poor user experience and invest in tools to address it. With the rise of AI, the traditional IT challenge of device visibility and curation has expanded to ensuring that the right systems are in place to incorporate these technologies. IT teams need end-to-end visibility into the user experience and the means to remediate any issues in real time, at scale.” – Ian van Reenen, 1E
14. Adapting To Changing Customer Behaviors. “One of the top issues in tech is changing customer behaviors in the AI age, especially concerning privacy. Leaders must balance hyper-personalization with data protection. Also, the rise of ethical consumerism demands businesses align AI applications with evolving customer expectations on privacy, social justice and environmental responsibilities.” – Jean-Baptiste Hironde, MWM
15. Optimizing Data Center Operations. “Artificial intelligence applications require servers with unprecedented power density. That degree of high-performance compute puts pressure on data center operators to enable more scalability and network density, as well as to evolve cooling systems to keep GPU and TPU chips operating at peak capacity. Unless that happens, realizing the full potential of AI will be difficult.” – Juan Font, CoreSite
16. Balancing Service Quality With Ethical AI Use. “The top issue in the tech industry involves ensuring ethical AI use, data privacy and economic sustainability without compromising service quality. Leaders must align AI with societal values, enhance data security and balance investments and returns without compromising quality, service and integrity. Addressing these challenges requires comprehensive strategies and collaboration across sectors.” – Jo Debecker, Wipro
17. Delivering High-Quality Employee Experiences. “To provide a high-quality customer experience, organizations must deliver consistent, high-quality employee experiences. Through economic uncertainty, many tech companies have lost their commitment to the important initiatives that help employees thrive. Taking the “safe option” of cutting back during tough times will yield short-term gains at a long-term cost—proving dangerous to a company’s success.” – David Levin, Poppulo (Formerly FWI | Poppulo)
18. Rethinking The Collection And Use Of Personal Data. “There’s a growing perception that personal data is a toxic asset. With personal data accumulated and sold with little in terms of genuine informed consent, there are increasing concerns that technology is being used to manipulate rather than to elevate. Industry leaders need to revisit their attitudes about third-party cookies and embrace safety by design principles, rather than retrofitting ethics.” – Ajay Khari, Meltwater
19. Finding New Talent In An Industry Dominated By Big Tech. “The tech industry is wrestling with the dominance of Meta, Apple, Microsoft, Amazon and Alphabet and the talent war among them. New companies can’t compete in recruiting the best talent, which hampers innovation and disruption of the market. Three U.S. companies operate and control most of the online world, and consulting firms compound the issue by educating their workforce on these platforms. Industry leaders should be more open to new and fresh ideas.” – Lasse Andresen, IndyKite
20. Filtering Out ‘Data Noise’. “The digital age has ushered in transformative possibilities, but it has also presented a challenge: the overwhelming deluge of data. This is an overall business concern. When you have multiple devices speaking to each other, the volume of data generated can blur critical information, leading to decision paralysis or oversight of events. To navigate this complexity, we must filter out the ‘data noise.'” – Alan Stoddard, Intellicene

For Full Article, Click Here

Predictive analytics – using data to predict future outcomes – has helped businesses better understand what their customers need. Customers respond well to a business when they sense that their needs are being heard and met. Anticipating your customers’ buying behavior will more likely help retain a loyal customer base. Fifteen members of the Expert Panel of the Forbes Technology Council discuss below the ways businesses can utilize predictive analytics to improve their customer experience.

1. Analyzing Customer Behavior Patterns. “Businesses can use predictive analytics to improve the customer experience by analyzing customer behavior patterns. This can help a business anticipate its customers’ needs and personalize interactions, experiences and offers. This intelligence can also help businesses provide proactive solutions to customers based on their inferred and expressed needs, ultimately enhancing satisfaction and loyalty.” – Vasudeva Akula, VOZIQ AI
2. Determining System Failures And/Or Cyber Risks. “Using predictive analytics to determine system failures and/or cyber risk is an area of importance. If organizations can better predict cyber results, it positions them to reduce exploits and proactively manage vulnerabilities. The outcome has a direct effect on customers. Further, the data can show which customers may discontinue the business relationship due to costs, loss of revenue or a lapse in system availability.” – Dewayne Hart, SEMAIS
3. Personalizing The Customer Experience. “Predictive analytics can be used to personalize the customer experience. By analyzing a customer’s past behavior and preferences, businesses can anticipate the customer’s needs and provide personalized recommendations. This creates a tailored experience for each customer, leading to increased satisfaction, loyalty and potential sales, thereby improving the overall customer experience.” – Indiana (Indy) Gregg, Wedo
4. Managing Dynamic Pricing And Promotions. “Similar to how social media platforms use predictive analytics to determine which posts and ads users see, businesses can leverage predictive analytics to enhance the customer experience through dynamic pricing, promotions and personalized offers. This aligns with customer preferences and optimizes revenue, benefiting both customers and businesses.” – Sheraz Ahmed, STORM Partners
5. Customizing Offers And Content. “One of the best ways to use predictive analytics is to create personalized offers and content lists for your customers. Every group of visitors has a unique set of goals and pain points. Carefully reviewing data and curating campaigns around each segment’s needs will help you create a positive experience and turn website visitors into customers.” – Thomas Griffin, OptinMonster
6. Identifying Churn Risk. “Businesses can leverage predictive analytics to identify high-churn-risk customers and pay attention to them. Net promoter scores can determine if customers would recommend your brand over the competition. Predictive analytics can also anticipate shifts in customer sentiment to help the customer support team know who requires special attention or incentives.” – Raghu Ravinutala, Yellow.ai
7. Understanding How Customers Leverage A Product. “Predictive analytics can help leaders create the ultimate tech roadmap and help a technology business optimize the customer experience by helping leaders understand how customers are leveraging the company’s product or service. It enables tech businesses to predict what customers are going to need to drive their objectives, based on data and trends the system has previously deployed. This predictive state, based on tactical successes and data metrics, shows where the tech needs to go.” – Michael Koch, HubKonnect
8. Delivering Real-Time Experiences For Customers. “Predictive analytics can help companies deliver real-time apps and experiences to their customers. By analyzing the context of historical data and patterns, you can not only anticipate customer needs, but also provide updates and/or results in the moment they need them. Now, we have the opportunity to combine predictive analytics with generative AI, which can simplify and enhance the communication of information.” – Chet Kapoor, DataStax
9. Decreasing Service Outages. “One way that businesses can use predictive analysis to improve the customer experience is to perform an “AIOps” historical review of all of their incidents and service outages over the last 12 to 24 months. This type of holistic analysis will reveal trends around solutions that experience more outages than others as well as common outage root causes, which will influence implementation changes across the enterprise.” – Mark Schlesinger, Broadridge Financial Solutions
10. Understanding Customers’ Unmet Needs. “Predictive analytics can be used to provide a better picture of a customer’s unmet needs, proactively prescribing the next best action for teams to take before the customer service agent or customer even knows it themselves. Partnered with real-time speech analysis, predictive analytics can prioritize and prescribe actions to be taken to improve calls and help team members improve overall interactions.” – Christopher Rogers, Carenet Health
11. Onboarding New Users More Effectively. “Predictive analytics are most powerful when coupled with descriptive analytics. Imagine defining the prototypical user journey within your product, informed by thousands of historical user instances, and marrying that with a new user’s onboarding. The descriptive “what’s happened” nudges the predictive “where to next” as new users navigate the happy path toward full adoption of your product.” – Ken Babcock, Tango
12. Anticipating Customer Orders. “Predictive analytics can drive anticipatory shipping. It can analyze customer data, purchase history and behavior patterns to anticipate customer orders. This allows businesses to proactively ship products to distribution centers or directly to customers’ locations, reducing delivery time and enhancing the customer experience.” – Emmanuel Ramos, OZ Digital Consulting
13. Analyzing Customer Sentiment. “Sentiment analysis uses predictive analytics to analyze customer feedback and sentiment from social media, reviews and surveys. By understanding customer sentiment, businesses can identify areas for improvement and promptly address any issues or concerns. The potential benefits of SA include improved customer satisfaction, better brand reputation management and increased customer loyalty.” – Cristian Randieri, Intellisystem Technologies
14. Calculating CLV. “Predictive analytics enables a business to calculate the customer lifetime value for each client, guiding leaders in efficient resource allocation. It helps identify high-value customers, who can be targeted with personalized marketing campaigns, enhancing customer retention and profitability.” – Amitkumar Shrivastava, Fujitsu
15. Targeting Messaging And Marketing. “Predictive analysis on market trends and typical business struggles allows for targeted messaging and marketing of your business to the right prospects, at the right time. Nothing is more important than sales to a business. Empowering sales efforts through trending and predictive metrics means you’ll end up with hot leads and interesting offerings.” – Tom Roberto, Core Technology Solutions

For Full Article, Click Here