Since its early history at the dawn of the computer era, the information revolution has grown exponentially. According to Moore’s Law, processing power doubles approximately every two years1, and each decade in the last half-century has seen an innovation that has driven drastic increases in business productivity. The biggest winners in this new information economy have been the ones who could recognize and capitalize on these innovations. IBM, Apple Computers, Microsoft, Intel, and Dell Computers are all companies that have risen to prominence on information-driven innovations.
The internet revolution and the propagation of broadband internet service has seen the mass exodus of customers to the online world, and icons in the business world like Blockbuster, Borders, and Kodak have all come crashing down as more visionary companies rushed in to meet the customer’s demand to shop from home. Companies like Amazon, Netflix and Flickr adapted to the rapidly growing technology and emerged as the big winners.
The growth of social media, mobile and cloud has paved the way for companies to create whole new categories of products and platforms, and drive value in heretofore unimagined ways. Facebook has become the focus of the world’s digital life and has connected 1.51 billion users worldwide2. The world now has as many mobile subscribers as it does people3, and smartphones allow people to interact more meaningfully with the world around them as well as search and purchase products and services. The advent of the cloud has enabled businesses and consumers alike to access affordable, scalable power through internet-based applications like dropbox, iCloud and salesforce.com. The cloud has reduced costs significantly for business due to its accessibility scalability4.All three technologies have matured over the past couple years and thanks to analytics companies can now identify opportunities for growth, target audiences and allocate resources better than ever.
Social media, mobile, analytics, and cloud technologies have all emerged as separate entities. However companies that want to ride the next wave of the information revolution need to understand that it is the intersection, or “stacking” of these four technologies that is going to drive the customer engagement, innovation and business productivity leaps that will occur over the next decade. Are you going to let your company be the one that show’s up late to the SMAC stack party?