Today's Hottest Business Trends and How to Get in on Them
Published on 11 November 13
Jiro0
Data is big business and it's getting bigger. The amount of new data produced every single day is staggering and could fill 531 million DVDs, according to Entrepreneur.com. That adds up quickly over weeks, months and years. Further, the production of new data has increased with great speed recently, with 90 percent of the world's data having been produced just in the past two years. Annual data generation is expected to increase by 4,300 percent by 2020. Someone has to store and manage all of that data!
Investments
Venture capital firms have already invested billions into companies that store and manage data. In fact, 10 percent of venture capital funds went to such companies last year. Cloud management is one of the most popular new ways of storing data, though more traditional storage methods are still needed and in demand.
Re-selling Public Data
Any tech company looking to increase its bottom line would do well to look into data storage and management as an addition to the business. Other companies may look at the potential of becoming re-sellers of public data. According to Entrepreneur.com, Twitter has already partnered with 12 other companies to do just this. With all of the companies producing publicly available data, there are plenty looking to increase their profits by partnering with other companies to parse and sell the data. Data is the gold rush of the future and the way to make the most money with it is to get in on it now while the field is still relatively open and funds are flowing to data-dealing businesses.
Domestic Production
It's a whole new world for American-made products. Consumer demand is fueling this trend. Fifty-two percent of consumers feel that that buying American-made products is very important, according to Entrepreneur.com. The "Made in America" label was ignored for so long in favor of cheaper foreign-made goods. Americans are now realizing that investing in domestic products helps the economy in so many ways from providing jobs to Americans to increasing the nation's GDP. Plus, American-made products are usually of higher quality than other products and they come with a feel-good vibe.
BYOD
The BYOD trend is definitely one of the biggest. The U.S. lags only behind the Middle East in adoption of Bring Your Own Device policies that allow employees to bring their own phones, laptops or tablets to work and use them for company purposes. Mobile security is a big concern for companies engaging in BYOD. It's important to make sure company information stored on non-company equipment is safe. Entire departments are being built around devising security procedures and preferred mobile device companies like Blackberry are being touted by employers as among the safest devices to use for both company and personal purposes. Jumping on the BYOD bandwagon increases employee satisfaction and loyalty, decreases company costs overall and increases employee productivity. It is a policy most companies can implement right away that will benefit them almost immediately.
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