Sangeeta May 08, 2014 1 Comment
The SMAC technology / business model
While Big Data was the predominant buzzword through 2013, SMAC (social media, mobile, analytics, cloud) technology has become the next big infotech revolution in 2014. Although these have been around for a while, it is only in 2013 that these technologies have combined and grown together exponentially. Unlike Big Data, that is the exclusive domain of large organisations or firms scrunching massive data, the SMAC technology supports flexibility, extending itself from large companies like Cognizant to SMEs and India’s e-Governance Programmes.
The lowdown on SMAC
When social, mobile, analytics and cloud are integrated within the business model, the functionalities of each technology have a cumulative effect that is more “connective, collaborative, real-time and productive”. With actionable analytics within the SMAC ecosystem, businesses have the advantage of an integrated technology that can be leveraged for business advantage in a real-time environment.
Businesses and government bodies are adopting social media and networks for insights into trends and to build conversations around topics like new products, campaigns or actions taken. Mobile technologies have additionally integrated location, banking, retail and citizen services, to name a few. There is also increased adoption of mobile devices in place of the traditional computer. By integrating cloud computing with the social and mobile technologies, there is easy access and increased efficiency in business operations. Add predictive analytics to this framework and you have a completely integrated and synchronously managed business model in real-time.
How does the SMAC ecosystem bring value to an organisation
High usage of social media, smart devices and instant connectivity have effected a radical shift in the way businesses work. All organisations benefit from a smart intelligent connected model powered by real-time advanced analytics. The capability of leveraging integrated analytics in a social and collaborative architecture on the cloud – helps access information on mobile devices, for on-spot decision-making. At the enterprise level, the cloud stores huge volumes of multi-structured data, mined from mobile devices and social media for integrated Big Data analytics.
Moreover, SMAC technologies are in wide use and generally affordable. So they can be leveraged by businesses of all sizes for a competitive edge, cost optimization, operational efficiency and time saving. The SMAC ecosystem is especially advantageous to those sectors or organizations that need to engage community or customers for better insights and efficiency – like Government departments, retail, banking and insurance sectors, and so on.
Termed as Disruptive technologies, the “SMAC (Social, Mobile, Analytics and Cloud) are carving a new path of innovation in banking functions and strategy”, according to Information Week. From using social media for leads to interpreting unstructured data, SMAC adoption has become a must-have for banking, financial, retail and ITES.
Wipro, Cognizant, TCS and others are investing massively in the SMAC technology, with varying focus , be it mobile commerce, cloud services or integrated analytics. IT vendors like SAP, IBM and Oracle have also begun developing applications in the SMAC space.
Various IT and Business reports are predicting a phenomenal rise in SMAC technology adoption and investment in India. As students or professionals in the data science and analytics domain, it is time to learn more about SMAC, “the new flavor of IT service companies”.
Look out for the next few blogs where we tell you some more.