Sample Economics Research Paper on Impact of Technology Trends on Enterprises

            Technology is a tool that is used in the application of knowledge to human life scientifically. It is essential to the manipulation and change related to human environment. Technology upgrades and advances are occurring at overwhelming speed. Consequently, it is easy for an enterprise to fail to take advantage of the innovation, and thus pave the way for competition from other entities. Technology advancement affects business from different angles including production, advertising, sales, and supplies. Essentially, the only constant attribute of the corporate sector is change, which is inevitable. Some of the technology trends that could prove useful in business enterprises include big data, cloud computing, and mobility.

            The helpfulness of operating systems and applications of smart phones makes every company think of various ways that it could exploit markets through the exploitation of the technology. Indeed, the growth in IT consumerization has enabled the integration of consumer apps and mobile devices into enterprises (Chuan et.al, 13). This plays a big role in increasing the productivity of workers because it enables them make quick responses to market changes and arising opportunities (Vanmechelen 40). In short, enterprises can keep up with the evolving market by exploiting devices such as mobile phones. The mobile phones also give employees a freedom due to the increased access of information and they are also able to perform different tasks such as sending and receiving data outside the office. Mobility therefore, promotes better productivity.

            Big data is helpful to enterprises today because it keeps growing and thus allows companies access to big data volumes. The frequency of data changes creates an overflow of data that is unstructured. Then, the data creates a platform from which an enterprise can acquire significant insight about operational costs, customers, and other leading concepts in businesses (McCrorey 34). The data can be accessed through sources such as social media and mobile devices,, which promotes knowledge within businesses.

            When analyzed quickly and compressively, businesses stand an excellent chance at making informed decisions fast thus building competitive advantages. In memory computing would be helpful in managing, processing and analyzing the complex flow of data within the enterprise (Makela). It allows business enterprises different advantages, and they include increased operational efficiency and improved information. Additionally, the business remains competitive because information is power..

            Cloud computing is one of the technology trends that enables businesses and industries of different sizes to compete at higher levels because, it allows them to store, share, and consume resources in much easier and better ways as compared to before. It is also cost effective and guarantees enhanced flexibility. Currently, in-memory computing has enabled business transactions that initially took 45 minutes to be completed in six seconds (Cerra et.al 26). Therefore, the technology saves a lot of time for businesses and offers efficiency in terms of business processes. Other benefits of cloud computing include elasticity, increased access to information, and cost efficiency of production and time.

            Such technology trends act as building blocks for enterprises considering the fact that they enable the enterprises run better than before. For example they allow corporations to achieve increased productivity, efficiency, and agility. At the same time; they are them to cut costs and save time. Undoubtedly, it is essential for companies leverage these technologies to drive innovation.. The business world is competitive and hence every enterprise has to keep up with such technology trends to achieve success.

Works Cited

Chuan, Pang, Vasil Khachidze, Ivan K. W. Lai, Yide Liu, Sohail Siddiqui, and Tim            Wang. Innovation in the High-Tech Economy [recurso Electrónico]. , n.d.. Internet r            resource.

Cerra, Allison, Kevin Easterwood, and Jerry Power. Transforming Business: Big Data, Mobility,         and Globalization. Indianapolis, IN: Wiley, 2013. Internet resource.

Makela, Lindsey. Digitalist Magazine. Top Three Technology Trends with the biggest impacts o        on Companies. 2012.

http://www.digitalistmag.com/innovation/2012/09/26/top-three-technology-trends-with-the-biggest-impact-on-companies-017435

McCrorey, Dee. Innovation in a Reinvented World: 10 Essential Elements to Succeed in the New     World of Business. Hoboken, N.J: Wiley, 2012. Internet resource.

Vanmechelen, Kurt, Jörn Altmann, and Omer Rana. Economics of Grids, Clouds, Systems, and      Services: 9th International Conference, Gecon 2012, Berlin, Germany, November 27-28,  2012. Proceedings. Berlin, Heidelberg: Springer Berlin Heidelberg, 2012. Internet             resource.