FICCI-KPMG-Report-13-FRAMES

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172 11 Technology Changing the game An extract from Six converging technology trends, KPMG in India - Nasscom report 2013 © 2013 KPMG, an Indian Registered Partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
11 Technology The power of a billion: Realizing the Indian dream We have identified six trends viz. big data, cloud, social media, mobility, embedded systems and augmented reality which will have a logical maturity that inevitably brings them together. Big data Every year, companies and individuals generate billions of gigabytes of data. Data, which properly analyzed and used in time, can emerge as an unbeatable competitive advantage. Enterprises need to recognize the prospect big data represents and should adapt their IT strategy to capture such opportunities’. Big data can help retailers predict buying decisions of shoppers; it can help banks weed out fraudulent transactions; while governments can use big data to provide services directly to their citizens. Cloud computing The undeniable power of cloud computing to foster innovations and improve productivity is now accepted by both IT vendors and their customers. While the financial services and government sectors are mostly moving to a private cloud model due to information security concerns, other industries like healthcare and retail have adopted public cloud. Moreover, their existing infrastructure has helped telecom players to emerge as providers of cloud computing, leading to erosion in boundaries between IT and telecom vendors. Social media A social media strategy has become a must for all enterprises, be it banks, retailers or the government. With over one billion individuals logged on to various social networks, people are now using social media for advice on what products to buy, where to shop and even regarding what firms they want to work with. While most enterprises use social media for their customer service function only, many firms have now started using social media in tandem with their sales and marketing functions. This in turn enables firms to use data generated by the customers effectively to service their larger pools of customers. 173 Mobility Mobile devices have changed the way people access digital content. Smartphones and tablets have brought rich, digital content to the fingertips of consumers. Mobile banking has emerged as one of the most innovative products in the financial services industry. Shoppers are increasingly using their mobile devices for everything from browsing to comparing to buying products. Governments are also reaching out to their citizens, using mobile devices as an efficient channel. Enterprises must also jump on to the mobility bandwagon, and ensure that their applications are mobile ready. Embedded systems The decreasing cost of embedded systems has made their presence ubiquitous across the business landscape. Embedded systems like RFID chips have revolutionized supply chains for retailers. Embedded systems are also having an impact in the healthcare industry, where hospitals attach smart chips to patients to keep track of their entire medical regime. Augmented reality (AR) Over the past 24-36 months, augmented reality has moved from the world of science fiction, to our everyday lives. The spread of smartphones and tablets gave rise to the spread of location-based augmented reality applications, and now everyone from retailers to healthcare providers have embraced augmented reality. Augmented reality enhances the customer experience, and enables enterprises to add a fourth dimension to their products. © 2013 KPMG, an Indian Registered Partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
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01 The power of a billion: Realizin
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05 The power of a billion: Realizin
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06 Round up of the year that was Th
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