Technology has truly come a long ways. From the huge gigantic cell phones in the early 90s to the waterproof smartphones that can also do the work of a desktop computer. Even though technology has come so far, we still have a ways to go. Paul Mampilly has given us 10 phenomenal predictions of the routes business is taking us based on modern technology:
Prediction 1: Big Data will become accessible which is a great improvement. It is no secret that Big Data was hard to come by for small companies years ago. Thanks to the evolution of technology and massive improvements, small companies finally get a piece of the action too. Behind the scenes, technology and processes involving Big Data implementation has become easier and cheaper for consumers. In near the future (particular in 2019), small companies will finally get to capitalize on Big Data and will reap massive profits that come along with it.
Prediction 2: Home appreciation rate lose steam. There was a time when one could buy home and flip it to sell and make a profit with ease. Now things in the housing market have change and not for the better. A home appreciating at the fast pace of 5 to 7 percent is a thing of the past. For homeowners to really see a profit, they will have to hold on to their homes a little longer–with the future appreciation statistics. According to Mampilly, homeowners can expect to see equity rates significantly lower. Equity rates are expected to be on an average of 1.5 percent. Thus, it is also expected to remain at 1.5 percent for awhile.
Prediction 3: Businesses will adapt to modern consumers. Businesses are in many ways like animals in nature; its survival of the fittest. You either adapt and survive or die out. Paul Mampilly lets us know businesses should not only change the way they market products, but they should pay more attention to the consumers as well. Consumer feedback should have a priority of its own. If consumer need isn’t being fulfilled, there will be no need for the product itself. Businesses should be more sensitive to customers need and designs products accordingly.
Prediction 4: The rise of the voice search. Voice searching has been and will continue to be around. Minus a few changes in the algorithms, people will conduct more searches using their voice as opposed to writing out text. This also means greater investments in voice searching software and artificial intelligence will be needed.Companies that are willing to change with the times will stay ahead instead of those refusing to innovate.
Prediction 5: New Sources of consumer data. It is said that it consumer data will change the way businesses market their wares and services. Thanks to apps on many smartphones, companies are able to make decisions what products to market and which locations have a need for said products.
Prediction 6: Interestingly major data– gathering scandals like those occured on the Facebook platform have done nothing to stop consumer feedback. In spite of it all, customers have willingly given information about the companies and the products they use.
Prediction 7: Political Conditions will be favorable for business. Businesses big and small should get excited about the new tax break they are getting. The Tax Cuts and Job Acts reform was recently approved last year and it gives lower tax rates to businesses. The other thing it does is give business owners more leave way on deductibles. Business owners also have an increased ability to deduct from investments . Furthermore, they have more opportunities to earn money in overseas markets.
Prediction 8: Edge Computing will propel the internet of things. With technology constantly changing, Mani lets us know to expect new changes to new inventions to come along with the package. Particularly, edge computing is predicted to change communications patterns between devices. Edge computing will be able to process and send information faster and more efficient without delays.
Prediction 9: Long-termism in investing. Paul Mampilly did not fail to mention some pointers for future long term investors. From a statistical standpoint, 20 percent of managed assets were in invested in with respect to ESG. ESG is the abbreviation for environment, social, and government factors. Mampilly predicts that the there will be an increase of 40 percent in year 2019. For investors who are willing to get a ahead in investing, they should do two things. They should be willing to to be patient and pay close attention to what’s going on around them.
Prediction 10: VR is poised to explode. Do not be fooled about the potential of virtual reality. Paul Mampilly believes in the the virtual reality market and for good reasons too. Although virtuality reality is in its early stages, a lot can be said about this remarkable piece of technology. First off, the technology that makes virtual reality what it is– is quite advanced. It would be wise for investors to throw their hats into the ring on this one. The past market for virtual reality hardware was a whopping 2.2. Billion in year 2017. That being said, it is expected to skyrocket to 20 billion. Investors should not let this opportunity go unnoticed.
Prediction 11: User reviews more critical than ever. It’s not that a company or brand doesn’t matter. In fact, reputation among companies and businesses are about to get a whole lot bigger. Companies with more positive will outperform and make more money than the companies that don’t. According to Mampilly, 95 percent of online customers prefer looking at the reviews of a company before making a decision to buy.
A lot investors rely on the advice Paul Mampilly before choosing a venture to invest in. He has over 20 years experience when it comes to money management and wall street trends. He obviously knows what he’s talking about. So to all the investors and businesses alike, do your research and don’t be afraid of taking chances and don’t be afraid of change. It’s coming whether you want it to or not.
Learn more: https://interview.net/paul-mampilly/