Timely and authoritative information designed to help enterprise leaders be more agile in strategy-setting and execution by evaluating both the opportunities and risks of new technology.
ISACA has launched a new service to provide easy to use, timely, relevant, and unbiased information to organizational leaders at board and C-suite levels to help them more quickly adapt to changing information technology. This information includes insights into both the opportunities and risks of new technology and is designed to help enterprises be more agile in establishing or modifying strategy in a constantly changing world. These reports are designed to help governance teams understand -- without technical jargon -- what innovations matter to them, how those innovations change their competitive landscape, and how to engage their management teams relative to these new areas.
The Insights service is comprised of a periodic research report (the ISACA Innovation Insights report), within which the most important new emerging technology trends are objectively evaluated based on their ability to provide value to your organization. Supplemental "drill-down" reports (ISACA Trend Reports) provide executive and governance-focused guidance on individual trends.
It is clear that digital technologies will remain a major driver of business innovation for the foreseeable future. Businesses that adopt the right trends—innovate around them and/or integrate them into the fabric of their operations—are more likely to strengthen their competitive advantage and prosper. Those that don’t, won’t.
Targeted to business leaders and board members, this report provides high-level actionable insights into the digital trends most likely to deliver business value today and tomorrow, including guidance on How To Take This Forward. Additional perspectives on each trend will be covered in individual trend reports. This report also contains a view of the trends as they pertain to the financial services sector.
Big data analytics is the leading value-producing digital innovation trend, according to our Top 10 Technology Trends assessment. With digital data sources growing in number and complexity, big data continues to get bigger. To make big data actionable takes analytics. They provide the necessary intelligence to simplify the complex, bringing new, business-influencing insights to bear. Simply defined, big data analytics is the application of advanced algorithms to analyze large data sets containing a variety of data types to uncover hidden patterns, unknown correlations, market trends, customer preferences and other valuable business information. We believe that, with the vast amounts of data being generated and collected by enterprises worldwide on a daily basis, analytics will continue to drive business strategy and decision making across all enterprise functions and industries.
Business use of mobile technologies continues to evolve rapidly, ranking second in our Top 10 Technology Trends assessment. Despite widespread use and adoption, many aspects of mobile technologies should be accounted for in organizational strategy because expanding mobile platforms have the capacity to deliver additional business value—and unanticipated or unsanctioned use of mobile technologies continues to carry business risk.
Cloud computing continues as a leading business trend driving business strategy, ranking third in our Top 10 Technology Trends assessment. A virtual model of information technology delivery, cloud provides ubiquitous, convenient and on-demand access to a wide variety of technology-based information and services, including applications, data storage and infrastructure. We believe it is one of the top value-producing digital technologies because, unlike traditionally sourced IT services, cloud-based systems are easy to deploy and require little resource involvement, virtually no capital investment or significant support structure to integrate. Even businesses that have embraced cloud can derive more value from further adoption and integration into their organizations’ business strategy. One note of caution: some engagement models have higher costs per user and security, privacy and other risk needs to be considered when making investments.
Machine learning is one of the top value-producing digital innovation trends, ranking fourth in our Top 10 Technology Trends assessment. Machine learning, which includes predictive analytics, covers cognitive systems that go beyond Big Data Analytics. It give enterprises the capability to not only discover patterns and trends from increasingly large and diverse datasets but also enables them to automate analysis that has traditionally been done by humans, to learn from business-related interactions and deliver evidence based responses. It also provides confidence levels in the likely success of recommended actions. It gives enterprises the capability to deliver new differentiated/ personalized products and services, as well as increasing the effectiveness and/or lowering the cost of existing products and services. Machine learning initiatives should be considered, not only as strategic initiatives, but for their possible effect on other business strategies. However, deployment can carry business risk, so investment decisions should be approached with care.
ISACA uses a proprietary approach to assess the level of business innovation (BI) that can be expected from a trend. The rating scales and scoring calculations used are described below.