Big data, wearable devices and B2B online retailing will shape 2014
February 04, 2014 00:00 By The Nation
This year, big data will grow bigger, wearable devices will become more abundant, and online retailing will become more prevalent amongst business-to-business (B2B) activity.
New analysis from Frost & Sullivan’s “Top 14 Ideas and Innovations for 2014” finds that the trends mentioned above are the top three key global game changers for 2014, said the company’s visionary innovation team leader and senior research analyst, Archana Vidyasekar.
Big data is growing at a rate of 40 per cent annually, generating a massive pool of data offering valuable insights and opportunity for predictive analytics.
Wearable devices have already started to create a buzz that is only expected to become louder during the course of the year. Last year, saw the launch of wearable smart gadgets, such as smart watches and Google Glass that emulated functions of a smart phone perfectly.
While there is scepticism and hype surrounding this market, its potential in regards to new services, such as undisputed monitoring of health, has propelled these gadgets to the forefront of products to watch in the wellness industry. In fact, most big technology and Web companies are actively pursuing this market, she said.
Finally, while e-commerce has recently grown tremendously through B2C (business to consumer) retail, many do not realise that there has been a massive upturn on B2B online retailing in the past few years, contributing more to the e-commerce market than B2C, she added.