Running head: BUSINESS 1

Technology Trends

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BUSINESS 2

Technology Trends

The Role of Technology in Business

Technology plays a very central role in the business sector. Business reporting is one

such area that is greatly affected by the changing trends of the business scenarios. Technology is

an important determinant in the description of the success enjoyed by the business. The

capability of the business to adapt to the changing environmental issues is a driver to the most

important determinant of its success. The organization should invest in understanding the

changing trends and their role in affecting the aspect of business success. The paper will examine

the basic trends of the technologies and their role in affecting the business environment.

Technological Trends in the Next Five Years

The next five years will experience a move from the basic use of data to the aspect of big

data analysis. The businesses should be in the position of adapting to the changing forms and

sources of data. The focus should be placed on the aspects that may function to lower the costs of

doing business. The many sources of data are primarily the social media and the customer

relationships management software. The need for the organizations to harness big data will be

important in ensuring that the businesses remain successful.

Technological Trends in the next Twenty Years

The next twenty years will be particularly fundamental to the success of the businesses.

The period will see a lot of growth in e-commerce. The organizations will need to adopt new

methods of doing business since fewer people will be visiting the stores to make purchases. The

organization will, therefore, require enforcing their online presence. The factor will work

towards ensuring that they implement mechanisms that will see them reach their clients in the
BUSINESS 3

comfort of their homes. The speed of implementation of the changing trend will determine the

competitiveness of the concerned businesses.