The fourth industrial revolution is already a year old; companies need to prepare themselves or be left behind.
In January 2016, the World Economic Forum stated that we are on the cusp of a fourth industrial revolution. After steam power; mechanisation; and the information age
fundamentally transformed the way many live and work, digitalisation is set to create further upheaval.
Ultimately, this should result in a digital economy: a modern economy supported by digital computing technologies. However, the benefits of this revolution will only be realised by those who can adapt in time. Much as the previous industrial revolutions either left behind or consumed those who didn’t understand the potential and the demands of the new technology, businesses need to ensure they can face the avalanche of possibilities and challenges in front of them.
Automated for The People
One major change of this fourth revolution will be industrial scale automation that will improve both human and machine operations, not to mention overall performance. We’ve already started to see this in industrial settings with the increased integration of sensors and wireless communication capabilities within manufacturing – but this can also be expanded across an entire economy. Yet for this to happen, everyone operating in the economy will need a modern infrastructure to deal with the deluge of data produced by new and intelligent processes. Businesses must be able to not only manage and analyse vast quantities of data from a variety of sources, they need to be able to use their data in real-time, before it loses a great amount of its value.
The Need for Speed
This means that speed will be key in this revolution. Along with compatibility it will allow greater efficiency, particularly as customers become more important. The 21st century consumer expects a flawless experience – one that is fast irrespective of the number of users, one that is reliable irrespective of device or whether on or offline, and ultimately one that is tailored and personalised to ensure a truly engaged and loyal customer. In order to achieve this, companies will need dynamic processes in place to access and utilise diverse data sets.
Businesses must start to consider their adoption of technology to ensure they are fit to meet the changing demands of IoT and mobile applications. The simple fact is that, as the new revolution gathers pace, the amount of so-called big data in use today hasn’t even scratched the surface. Organisations need to invest in future-proof technologies that will allow them to cope with this period of intense change.
No Business Like NoSQL Business
According to Allied Market Research, the global NoSQL market will reach $4.2 billion by the end of 2020; a growth rate of over 35% over the next five years. The reason is simple. When compared to legacy databases that demand data is placed in a neatly ordered, relational manner before accessing, NoSQL databases instantly enable the processing of information that would otherwise be lost to manual processing; bridging the gap between the online and offline worlds. Indeed, legacy databases often get slower over time, as the amount of data they hold grows and so the process of performing a query becomes ever more complex. As a result, flexibility and scalability suffer.
Failure to Prepare is Preparing to Fail
The fourth industrial revolution is already a year old; companies need to prepare themselves or be left behind. In order to remain competitive and embrace the technologies that will help them succeed, organisations must choose the right database Managing, storing and analysing large amounts of data in real time will be a critical to success in the new revolution. With the potential to adapt to changes in the market or consumer demands as needed, NoSQL allows companies to embrace the change that the fourth industrial revolution brings.