2020 is sure to be an interesting year in terms of technology, internet of things and many more topics are that are in the headlines weekly. 1Time Tracking has compiled a list of the top 8 trends and tips for 2020 to celebrate the new year.
- Are you IOT ready?
- The rise of the remote worker
- Big data for small business
- The launch of 5G
- More emphasis on customer service.
- Retiring baby boomers
- Sustainability is key
- Security and Privacy
Are you IOT ready?
The internet of things in a nutshell is a network of interconnected devices which have sensors or network connectivity that allows you to exchange and collect data. This empowers devices to interact and learn from each other’s experiences just like we as humans do. This could result in many changes in the office, such as tracking company equipment with IOT tagging, track maintenance of printers and enabling intelligent lighting with smart bulbs.
The rise of the remote worker
Corporate real estate is not cheap, but growth is vitally important. Remote working is a great way to solve the common problem of not being able to find the right person for the job in the right place. While your company is in one country your remote worker could be anywhere in the world. Modern technology has made this even easier in recent years. For example, companies like 1Time Tracking allows employees to track their hours as well as tracking project timelines from anywhere anytime.
Big data for small business
So far big data is a tool used by the largest companies. Facebook, Amazona and Google use big data to profile and advertise to their users all over the world. In 2020 smaller businesses will be able to make better use of the power of big data. It is worth noting that without context the data is of no use. Therefore in 2020 a clear strategy for the use of data can give a company a clear competitive edge.
The launch of 5G
In 2020 the launch of 5G networks is expected. This will allow download speeds of up to 1GBPS, this will fundamentally change the way we communicate online. Interactions will be faster than ever; small business will benefit greatly from this. New technologies like the internet of things and virtual reality will be made possible all thanks to the 5G networks.
More emphasis on customer service.
While the phrase the customer is always right might seem a bit dated, it is starting to come full circle. Large companies like Amazon are providing them with a customized customer experience. When customers visit their home page, they see products suggestions that they can explore. A recent estimation indicates that smart personalization engines can increase profits by up to 15%.
Retiring baby boomers
Baby boomers belong to the generation whose date of birth falls between 1946 and 1964. The oldest part of this generation reached retirement age in 2011, and the youngest will reach this in 2029. In a study completed by The Insurance Retirement Institute 45% of boomers have no retirement savings. Many boomers lost a lot in the stock market decline of 2008/2009. For many retirees, leaving work can mean an overly dramatic lifestyle change.
Sustainability is key
In 2020 many office buildings are making a genuine effort to be more sustainable in their everyday functions. From construction to daily use the key is a sealed space. Keeping the heat, cold rain and noise outside can reduce bills and help the environment. Sealed buildings on average use 90% less energy that older office buildings.
Security and Privacy
The well informed digitally connected consumer prioritizes data security and privacy as number one. Unfortunately, according to the CMO Council only 57% of B2B companies can confidently meet these demands. With high profile data breaches constantly in the news, the people, need to be certain that you can be trusted with their personal information. Investing in a GDPR compliant system can only help to grow your customer base.
One behalf of all the staff 1Time we would like to wish you a wonderful New Year and many timing successes in 2020. 1Time is available online, so no matter where you are located, you can access it anywhere, at any time. So, if you are considering a time tracking software solution, why not try our free 30-day trial 1Time Tracking today.