Business Technology Management (BTM) is a professional discipline in business administration. It is a transdisciplinary research area that is emerging. Four critical areas of interest include operational technology, Software as a Service (SaaS), Blockchain, and 3D printing.
SaaS is a software delivery model in which the Software is delivered over the Internet, and users can access it anywhere. Businesses can purchase SaaS software on a subscription basis. The cost is usually predictable and low. This service is beneficial to small businesses and start-ups. It helps avoid significant upfront investments in a perpetual license. Instead, the business pays a monthly or yearly subscription fee to a vendor, who then maintains and updates the Software. Many businesses today use SaaS to improve their day-to-day operations. For example, it can offer a variety of features, including document management, human resources, and customer relationship management. By integrating with other business applications, SaaS allows users to gain real-time visibility into their data. The use of 3-D printing for business is on the rise. Some benefits include lowered costs, improved products, and streamlined operations. You can also make your product stand out from the competition. Moreover, it can be easier to manufacture and reproduce protected intellectual property. Many large companies are using 3D printing to ramp up production. Companies like Boeing, Aurora Flight Sciences, Google, and Lockheed Martin are among the top users. They can produce new products and prototypes faster. For small and medium-sized businesses, it can be a worthwhile investment. However, certain factors must be considered before jumping on the 3D printing bandwagon. One of the key advantages of 3D printing is its ability to create working prototypes and test design concepts. It also helps engineers bring complex shapes to life. Blockchain technology is a potent tool that can improve your business. It allows you to manage your data and transactions without intermediaries. Smart contracts are a great example of how this technology can be used. These automated processes make transactions easier. They can even speed up negotiations. The blockchain has also been used to track the origins of different items. This is especially useful for retailers. For instance, Walmart has been using technology to confirm the history of its merchandise. One of the most significant advantages of blockchain is its ability to reduce fraud. This is particularly true in retail, where fraud is a significant threat. However, the use of this technology can be beneficial in all kinds of businesses. Operational technology is a term used to describe computing systems that interact with the physical world. It includes electronic, computer, and Software systems, as well as devices for monitoring, controlling, and regulating industrial processes. It has roots in the manufacturing industry but has expanded to include various industries and applications. Some examples of operational technology are Variable Frequency Drives (VFD), Human-Machine Interfaces (HMI), safety automation, and embedded systems. These operational technology devices are typically found in oil and gas, manufacturing, transportation, and critical infrastructure. They have long life cycles and are often difficult to replace or remove for updates or malware remediation. As more OT devices connect to IT systems, it becomes increasingly important to secure them. Cybercriminals are increasingly targeting OT networks, recognizing the risk of disruption. A successful attack on an OT system can lead to devastating consequences.
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