Clouds, big data, and smart assets: Ten tech-enabled business trends to watch
Advancing technologies and their swift adoption are upending traditional business models. Senior executives need to think strategically about how to prepare their organizations for the challenging new environment.
AUGUST 2010 • Jacques Bughin, Michael Chui, and James Manyika
Source: McKinsey Global Institute
In This Article
- Trend 1: Distributed cocreation moves into the mainstream
- Trend 2: Making the network the organization
- Trend 3: Collaboration at scale
- Trend 4: The growing ‘Internet of Things’
- Trend 5: Experimentation and big data
- Trend 6: Wiring for a sustainable world
- Trend 7: Imagining anything as a service
- Trend 8: The age of the multisided business model
- Trend 9: Innovating from the bottom of the pyramid
- Trend 10: Producing public good on the grid
Two-and-a-half years ago, we described eight technology-enabled business trends that were profoundly reshaping strategy across a wide swath of industries.1 We showed how the combined effects of emerging Internet technologies, increased computing power, and fast, pervasive digital communications were spawning new ways to manage talent and assets as well as new thinking about organizational structures.
Since then, the technology landscape has continued to evolve rapidly. Facebook, in just over two short years, has quintupled in size to a network that touches more than 500 million users. More than 4 billion people around the world now use cell phones, and for 450 million of those people the Web is a fully mobile experience. The ways information technologies are deployed are changing too, as new developments such as virtualization and cloud computing reallocate technology costs and usage patterns while creating new ways for individuals to consume goods and services and for entrepreneurs and enterprises to dream up viable business models. The dizzying pace of change has affected our original eight trends, which have continued to spread (though often at a more rapid pace than we anticipated), morph in unexpected ways, and grow in number to an even ten.2
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