As a huge fan of golf – playing and watching – there’s a phrase called “playing through” that I think applies to the marketplace today. Essentially it refers to the act of a faster group of golfers on a golf course being invited to pass a slower group.
I think you’re seeing the same dynamic right now in the world of business. The slower players are moving aside as those who transform “play through.” The speed of technological change is faster than it has ever been and businesses that fall behind the trends can quickly lose market position and their competitive advantage.
Ahead of the Curve
There is an inherent responsibility on technology companies, like Oracle, to innovate and stay ahead of the change curve. It is also important for executives in other industries to understand what’s coming next and position their organizations to adopt and adapt.
Now is a particularly good time to focus on technology. We have the benefit of lower cost, very accessible compute resources matched together with plentiful data that can be analyzed using artificial intelligence and machine learning. The net result is truly enriched processes that allow you to deliver the best possible outcomes for your employees and your customers.
While we see benefits of technology adoption and modernization across every industry, COVID 19 has accelerated the pace of change for healthcare and pharmaceutical businesses, forcing many to adopt new technology – such as telemedicine and remote monitoring services – and adapt new business processes to safely treat patients and remain financially viable.
Consider the tremendous amounts of data being collected about the virus – vaccines, therapeutics, infected individuals and who they have been in contact with. Then consider how all of that information would have been analyzed and meaningful insights captured if this had happened 15-years-ago or 25-years-ago.
Make the most of your data
If compute speeds hadn’t increased and AI/ML technology hadn’t improved, large swathes of data related to the virus wouldn’t have been captured or analyzed for months, maybe years.
• In 2020, every single person will generate 1.7MB of data every single second of every single day.
• Overall, humans produce 2.5 quintillion bytes of data every single day.
• By 2025 that number is expected to grow to 463 exabytes per person, per day.
Imagine having all of your organization’s data on a single platform connected to industry leading AI/ML and accessible via a friendly digital assistant, your cell phone, or just about any other device. That’s what we’ve built here at Oracle and I believe we bring tremendous value to customers who leverage our SaaS suite of applications.
The Time is Now
Modernize your application footprint and position your business to gain greater insight from your data, become a workplace of choice for your employees, and delight your customers. There is no such thing as a limit to the speed at which technology can and will be developed, updated or altered. Oracle customers get quarterly updates with the latest in emerging technologies including AI, IoT, more intelligent digital assistants, and smarter chatbots.
Position your organization to “play through” and spend more time focused on profitable growth. The time is now to build business resilience and turn disruption into opportunity.
Learn how Oracle Cloud Applications can help you plan for what is next.
Chris Donato is senior vice president of North America Applications and Consulting for Oracle Americas.