Information Technology Global Market Analytics 2016

Information Technology Global Market Analytics Characteristics

The information technology (IT) industry deals with the application of computers, computer peripherals and telecommunications equipment to store, retrieve, transmit and maneuver data. It involves computer networking, broadcasting, systems design services and information distribution technologies like television and telephones.

Information technology is applied in every aspect of economies, government and society. It can be used in businesses, for communication including telecasting, for education, transportation, agriculture, mining, banking and advertising.

There are many segments associated with the information technology industry. These segments include computer hardware, software, software services, software consulting, electronics, semi-conductors, the internet, telecommunication equipment, engineering, and all other related computer services.

In organizations, information technology is used to integrate departments and their operations. It also aids in developing company-specific Enterprise Resource Planning (ERP) software. The various departments typically include accounting, engineering, finance, human resources, and management information systems. These departments further operate on planning and budgeting technology, computer aided designs, databases, trading resources for their individual roles which in turn are supported by information technology.

Key Trends in the Information Technology Global Market Analytics

Cloud/Software As A Service (Saas) –

Over the past five years, cloud software solutions have been gaining acceptance from companies across all industries. Cloud is a software delivery method where a vendor hosts a software application in a remote server and customers can access it through the internet. Cloud software solutions are widely used in customer relationship management (CRM), HR/payroll, project management and accounting software systems. For example, Hershey’s implemented IBM analytics SaaS tool to obtain customer insights and boost sales.

Data Analytics –

Data analytics is the transformation of raw data into useful information. It is used across all industries to find key information from raw data for better decision making. It examines large amounts of data to identify correlations and hidden patterns that may directly or indirectly affect business. Major companies across different industries are using data analytics tools. Data analytics are specific to the industry. Custom computer programming companies are offering customized data analytics tools based upon the functioning and demands of their clients. For example, the city of Toulouse in France is using IBM’s social media analytics platform to identify and prioritize citizens’ issues.

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