The discourse that is going around in the markets and has dominated in the last few years is the promise that new technological trends like IoT, Big Data and Artificial Intelligence will change the world and the way we conduct business and our daily life. In such a scenario it becomes difficult for people to make a decision since they are often unable to differentiate between reality and hype. In this article, we will look into three trends like IoT, Big Data Solutions, and Artificial Intelligence solutions and review how they have played a key role in the adoption of mobile business process management in particular.
To understand how effective these three are and the rise of IoT development company we will use figures and statistics primarily. We will also look into the research activity that is undertaken by each of these technological trends and how to see how they have helped the mobile business process management’s end users with the technology.
Why IOT, Big Data, And Artificial Intelligence Are Key Role Players in Mobile Business Process Management?
A report by Industry Arc revealed that the technological advancement and its increased requirement for connected devices and real-time data are putting these three, i.e. Big Data, IoT app development, and Artificial Intelligence powered algorithms in high demand for making vital business decisions. Since smart mobile devices like phones, tablets, and other digital tools have changed the landscape of the corporate and other fields there has been a significant shift in the ways that businesses are conducted.
The urgency is given to undertake and do businesses from anywhere and anytime. This has eventually increased tremendous dependency on the cloud connectivity and also has led to businesses and organizations to adopt mobile business process management (MBPM) system. This system allows an organization to equip their employees with the features like working away from the office, keep themselves abreast with any changes in real-time on the corporate data thus increasing the productivity and efficiency of the employees.
Furthermore, with the help of IoT, Big data solutions, and Artificial Intelligence MBPM has been able to offer automation, modeling, execution, measurement, and optimization. It has led to increased responsiveness among business organizations and the optimization of productivity. According to researches in the roles played by IoT, Big Data and Artificial Intelligence in MBPM will result in more adoption of these and cloud-based technologies the market is expected to reach $26 billion by 2025.
Many organizations are adopting MBPM to give their employees the option of working from home without compromising on their work. With technologies like machine learning, deep learning, IoT, and Artificial Intelligence solutions MBPM is becoming an indispensable system for many organizations and businesses. This allows employees to access the resources and information of the organization as well as the massive data from anywhere, anytime via smart mobile devices.
Some Facts and Figures
When we look into the figures of these three technologies that are IoT, Big Data and Artificial Intelligence interesting figures and results come into the forefront.
• Big Data compared to Cloud and Mobility has more patents and intellectual property rights. Also, Big Data is more researched technology compared to the other two.
• Further digging revealed that Artificial Intelligence is the driving force behind the growth of Big Data
• AI has investors pouring in money for research with $15.2 billion globally in 2017. Also, 23% of the companies have already incorporated AI while another 23% is in the process of kick-starting the use of AI in their businesses.
• The distribution of AI technology is not even, more influence will be seen and used by businesses in mobile, telecom and technology sectors.
• Google, Microsoft, and Amazon have already started communization of AI with cloud-based services. This allows the developers as well as IoT development company to get their own data to train the algorithms that would suit their business’s specific requirements.
• A study by BCG in 2017 revealed that by 2020 various firms will spend $250 billion on IoT, while the technology will be used by manufacturing and logistics companies mostly, accounting for 50% that is spent on IoT. Organizations that implement MBPM in these sectors will be receiving the maximum benefit from IoT app development solutions.
There are several benefits that each of these technologies offers to Mobile Business Process Management. In the next section, we will look into each of these technologies and see how they are playing a key role in the adoption of Mobile Business Process Management.
IoT and MBPM
IoT used in manufacturing and logistics sector allows the business to have
• Predictive maintenance
• Management of the fleet from anywhere anytime
• Self-optimizing production process
• It can reduce massive demurrages by 50%
• Can achieve 100% elimination of stock-outs
• Reduce the faults often caused due to lack of manual coordination that takes place among several operators that are managed by a complex network of supply.
• Allows real-time position tracking
• Improves production planning
Read the blog- Types of Challenges and Solutions in Big data
Big Data and MBPM
Big Data is used by several sectors for their Business Process Management and when it is implemented with MBPM the benefits are quite a few. It helps in the following:
• Identifying and reduction of waste management and for that, you do not have to be present in the office or plant where the work is taking place. The data can be received on any smart mobile device and decision can be made.
• You have the data to make an informed decision about talent recruitment and management. Often business makes these decisions based on inadequate data that affects the business.
• Big Data can provide you extensive data to analyze and offer better customer management features and have improved supply chain management.
• Product development is another sector that benefits from Big Data since developing a product requires extensive research and data collection. These are required to be analyzed further to determine product specification, competition, customer experience, and pricing.
All these BPM can be done on mobile with the help of integrating Big Data with MBPM.
Artificial Intelligence and MBPM
AI is being used in almost every sector now and when it is combined with Mobile Business Process Management the efficiency and effectiveness of the business are immense. Here are some of the ways that Artificial Intelligence is helping MBPM.
• Task automation can be achieved with AI since it can help an organization to handle a large volume of redundant work with efficiency. This can be achieved from anywhere with a smart mobile device.
• Predictive analysis is another feature in which Ai can be used to observe, learn and analyze vast data sets that are collected from different channels. By accessing this data from anywhere business plans can be determined and target the customers accordingly by segmenting the data.
• Use of AI in MBPM is also cost-effective as it can use all the available resources and it can be implemented with Robotic Process Automation techniques.
• Better customer experience can be achieved with the help if AI in MBPM. While the AI-powered algorithm can receive accurate insight into customer’s choices and behavior, these can be used by the MBPM to predict the trends and also enhance user experience with chatbots and other such technologies.
In the Sherlock Homles TV series, the sleuth quipped ‘It is a capital mistake to theorize before one has data’ well we now have the data that IoT, Big Data and Artificial Intelligence is playing an important role in the adoption of Mobile Business Process Management. It will be naïve of the industries not to take note of how they are helping MBPM and not introduce them in their organizations while implementing MBPM.