Must Have Product Engineering Technologies of 2021

The COVID-19 pandemic has accelerated the digital transformation of organizations, and ISVs must rise to the occasion by upgrading their technologies and building better solutions. They must be capable of accommodating the upcoming trends and stay prepared for the post-COVID-19 business requirements. The pandemic also resulted in ISVs being unable to optimally utilize their IT budgets, resulting in decelerated digital transformation. They must aim for optimal utilization of their budgets in 2021, and enable accelerated digital transformation.

To that end, they must focus on business process enhancements and keep their operating costs in check, as prerequisites to staying ahead in the race. Let’s take a sneak peek into the technology trends surrounding ISVs for the year 2021.

Distributed Cloud Computing

With the advent of cloud, and later hybrid cloud, businesses could store, process, and streamline data efficiently. The remote-work arrangement would continue to be the norm even in the post-COVID-19 economy. This necessitates organizations to set up the required infrastructure to aid their employees in achieving faster results, and distributed cloud would be at the helm of this change.

• Distributed cloud allows for the distribution of public cloud services to physical locations. This way, businesses can reduce the risk of data loss, and experience low latency and flexibility when it comes to running processes, be it on-premise or cloud.
• With distributed cloud, ISVs will face a lesser risk of transgressing data management laws, as the location of the data created, stored, and processed are the same.

Big Data and AI

As businesses grow, they see an increase in the amount of data that need to be stored and processed. To provide customers with the best, personalized services, data must be collected and processed at an accelerated pace. Rampant innovation has now allowed both data science and AI to work together to better manage business data.

• Incorporating both big data and AI, an automated data warehouse can collect data and instantaneously analyze data to form information. This helps businesses make informed decisions from the get-go.
• Big data, combined with AI, can provide businesses with data statistics, almost instantly, to prepare for industrial and economic realities. They can realize remarkable ROI, as predictive and prescriptive analytics become increasingly accurate.

Privacy-Enhancing Computation

The future of technology rides on the shoulders of data, and all data is inherently sensitive. Enabling privacy is a combination of protecting data, secure data processing, and data analytics. Data protection will play a huge role in establishing trusting relations between businesses and customers in the coming years, calling for the dire need of privacy-enhancing computation.

• Privacy-enhancing computation makes way for encryption of data prior to analytics, making customers and external stakeholders feel comfortable with sharing their data.
• Organizations and businesses can increasingly collaborate for research and even outsource data analytics, without the fear of data misused. Owing to the technology providing secure environments to process and analyze data in a decentralized manner.

IoB – Internet of Behavior

IoB is essentially an approach to capture, analyze, understand and monetize both physical and digital representations of behavior. While IoT allows the exchange of information, IoB takes all the information and makes sense of it. Now that most businesses as well as customer interactions have gone online, it is crucial to track and study user behavior to better understand trends in the coming years.

• IoB will be the most powerful marketing tool in the coming years, giving extensive insights into customer behavior, trends, and shortcomings, enabling businesses to chalk out better engagement strategies.
• IoT devices with IoB can monitor healthcare protocols in establishments, post-COVID-19 lockdown restrictions, and notify employees via speakers regarding violations.

Predictive Maintenance

As technology constantly upgrades via breakthrough innovations, businesses must focus on delivering premium quality solutions, efficiently. The year 2021 will see a heightened use of predictive maintenance allowing businesses to ensure maximum efficiency at all times for in-service equipment.

• With predictive maintenance flagging a lack or drop in the performance of an equipment, businesses can schedule maintenance projects to improve equipment safety measures and streamline maintenance costs.
• As predictive maintenance allows the equipment to function at optimum efficiency at all times, businesses can increase productivity and cut costs on unexpected system failure management.

TRANSFORM YOUR BUSINESS WITH THE RIGHT PARTNER

With an external app development firm as your product engineering partner, your business gets the leverage to cut through the competition with advanced next-gen solutions. A competent technology partner can enhance your businesses with user-centric, cost-effective, scalable, and future-ready engineering that aligns with your requirements.