Business entities need to follow specific rules and regulations, as per the governing authority in the area they are located. This also goes for the area they actually have their activities and operations. The current business environment is a global one, almost in a mandatory way. Therefore, what happens in Europe (think EU, think GDPR and the EU take on competition) is likely to affect various organizations around the world. There is no circumventing the new increased compliance regulations, but there are software solutions to help.
As we can see with the naked eye how the world becomes more and more complicated around us, we can also see how technology progresses. The latest solutions, the next-gen ones, the empowering ones – all illustrate instances of technology coming to the rescue.
To be more explicit, we are in the Big Data area. Huge amounts of information flow through the companies informatics systems nowadays. The regulations establish responsibility and liability for the safety and privacy of the said data. Partly because it comes with a right of ownership deriving of each individual being identified and linked with its own data. Partly because technology (again) can transform this raw information into powerful insights, guidelines, decisions and key timings.
Organizations everywhere need leading-edge, custom-tailored software, versatile software solutions to achieve the necessary compliance. Of course, depending on their specifics, their demand refines down to various types of solutions. But quality and personalization are a constant need.
Where do privacy and antitrust meet and where do they split again
Big companies have powerful infrastructures. It’s only logical that these will circulate critical data coming from all the customers that interact with their products and services. Therefore market monoliths generate Big Data conglomerates. These in turn input even more power into the same superstructures. As we mentioned, information is power.
To prevent negative consequences in terms of competition, antitrust measures in the European space touch the issue of data ownership.
The decision makers are fiddling with the idea of liberating data from firms. Individuals could become able to choose themselves how the data about them gets used. Or – probably – how it stays apart from statistic, insights, algorithms and other modern systems that feed on data.
Once the big companies see their privileges of access to inherent data restraint (of course, there is a big “if” involved), there will be a whole new horizon to contemplate. Some even list megatrends derived from the expected big shift in the companies-people relationship.
Working with Big Data, in a compliant way
When the data issue will get a zillion nuances, as in each individual deciding whom he/she wants to share their private data with, and exactly which data – companies will need extremely resilient, trustworthy and clever software systems.
It’s not they don’t need it now, as well. But an exponential increase in every software-related demand will appear. It may take businesses by surprise – another disruption. But it can also develop in time, just in case. Those who prepare in advance consider or already use AI solutions. Software solutions that are able to further grow, expand and connect with other future programs are yet another way to go.
Modular, flexible and versatile – but always on the quality side. Tech giants may fret about the perspectives of their conglomerates becoming fragmented, to protect the European market. Meanwhile, the rest of the organizations can anticipate further privacy-related disruptions. Both things have at least one common point – options. And where there are options, the software solutions need to provide them, take in the categories and process the inputs accordingly.
Personalization also comes from options, carried into the experience a company provides its customers with. So, we meet again with the same demand. That is, taking in differentiated data and processing it in specific ways.
Therefore, it is never too soon to begin tailoring the best software solutions for the data-related disruptors of tomorrow. Just plan for success and use the available predictions to stay ahead of your competition.
Remember that whatever software solutions you need (or want to develop for your customers), here at LASTING Software we have a Big Data expertise that may prove key in developing it!