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Category Archives: Tech Trends

blockchain technology

A Quick Guide to Blockchain

This is a quick guide to blockchain and blockchain technology.

In this guide, we’ll explain:

  • What blockchain is
  • Whether it is only used for Bitcoin and other cryptocurrency
  • The practical use of this technology
  • Which projects and companies have adopted blockchain

So if you’ve ever been curious about this technology, this article is the perfect place to find out.

Let’s begin!

What Is Blockchain?

blockchain projects

The concept of this technology is difficult. But at its core, the blockchain is quite simple.

A blockchain is a type of database; a collection of information, or data. For simplification purposes, think of it as a spreadsheet.

But unlike a regular spreadsheet on your computer, this one is duplicated thousands of times across a network of computers.

The network regularly updates the spreadsheet, unlike when you manually input information using Excel.

Technically, a blockchain is a shared and continuously reconciled database which isn’t stored in any one single location. This allows information to be distributed but not copied.

That’s why when it was first conceived by the person or group known as Satoshi Nakamoto, it’s original use was intended for cryptocurrency like Bitcoin.

But the blockchain and its technology has evolved far beyond its original purpose.

What Is Non-Cryptocurrency Blockchain?

blockchain technology trends

If you’re aware of blockchain, then you’re probably also aware that it’s the technology behind cryptocurrencies like Bitcoin. But its technology isn’t unique to digital currency.

In fact, the usefulness of blockchain doesn’t stop with currency. Some of the most promising projects have nothing to do with crypto.

And there are a lot of examples of blockchain applications that are being implemented at the moment. Countless more are surely yet to come.

But for now, here are 3 non-cryptocurrency blockchain applications you should be aware of:

#1 Identification Records

Most of us take our identification records for granted, like social security and ID cards or birth certificates.

But for a lot of people living on the margins of society like the homeless and refugees, that’s not the case.

In these extreme situations, it’s difficult to gain access to identification records and reclaim identities, funds, and personal property.

Blockchain identity platforms solve this problem. This technology enables these people to reclaim their identities and get access to much needed help.

For example, in Austin, blockchain technology is used to identify homeless people. This raises their chance to get access to social programs which they rely on to survive.

#2 Online Privacy

Currently, blockchain networks are being developed that enable users to browse the Internet anonymously without allowing websites to access their personal data.

The data is handled on a decentralized network instead of being handled by the website or ISP.

The data is broken into blocks and dispersed across the network, and only someone with the right decryption key can reassemble and access it.

In the future, we could see widespread use of this kind of data protection, as it becomes an essential part of cybersecurity services.

#3 Supply Chains

This technology has a significant impact on supply chains. It’s already used to trace products to their place of origin.

For example, you can potentially trace a loaf of bread back to the crop and farm it came from.

This kind of clarity and transparency over the supply chain from source to consumer could have a profound effect on consumer behavior as well.

As more people become eco-conscious, blockchain technology will allow them to source products that are actually sustainable and good for the environment.

Which are the leading companies in blockchain technology?

Blockchain companies are paving the way for the future in many areas of business. So when it comes to companies that use blockchain, it’s worth knowing who the biggest players are.

These are the top ten companies using this technology:

  • SALT Lending
  • Mythical Games
  • Gemini
  • Circle
  • Coinbase
  • Chronicled
  • IBM
  • Voatz
  • Steem
  • Shipchain

Recent Developments in Blockchain Technology

blockchain 2021

Blockchain is continuously evolving. It’s an interesting field of study and development, and a lot of researchers are making efforts to innovate it.

Here are some of the most promising blockchain projects and business ideas in 2021:

#1 Status

Status is a secure communication tool. The messaging app aims to provide users with a safe way of having a private conversation, while providing additional features like a crypto wallet, encryption tools, and a Web3 browser.

#2 Augur

Augur is a no-limit betting exchange. It enables users to trade crypto wagers on a platform that’s completely decentralized and uses a lot of prediction market protocols.

#3 OpenMinded

OpenMinded is a community for building apps. It gives users free access to a decentralized data pool of advanced cryptography techniques and machine learning through libraries such as TensorFlow and PyTorch.

#4 Namahe

Namahe aims to use this technology with AI to raise the efficiency within the supply chain industry. The main focus of the platform is creating economically sustainable value chains that connect to the global marketplace.

#5 OMG Network

OMG Network focuses on scaling the operational capacity of the Ethereum network. It’s a value transfer solution built for enterprise grade production, unlike many other protocols.

If you’re interested in learning more about blockchain and other innovative technologies, please continue to follow Demakis Technologies.

Or contact us if you want to learn about how our managed services can help you incorporate new technology into your business.

future proof your business

Future Proof Your Business with Technology

Today, we’ll address some of the ways you can future-proof your business with technology.

Specifically, we’ll explain:

  • What future-proofing is (in the business sense)
  • How to tell whether your business is future-proof
  • How to leverage technology to achieve this goal
  • What that technology is
  • Bonus trends you can implement to ensure future-proofing

So if you want to know the most effective ways of making your business remain relevant now and in the future, you’ll find them all right here.

Let’s begin!

What is future-proofing a business?

Future-proofing is a business strategy. The basic(dictionary) definition of future-proofing states that:

“If something is future-proof, it will continue to be useful or successful in future if the situation changes.”

To future-proof your business, you’ll have to adapt to present challenges without losing sight of any future pain points that may appear down the line. You’ll have to make changes to the structure, processes, people, and technology within your organization so that they don’t become irrelevant in the future.

This future-proofs your business by helping you create an agile organization that easily adapts and overcomes any challenges it encounters. One of the simplest ways to ensure a stable future of your company is to leverage technology.

How can technology help future-proof a business?

How to tell whether your business is future-proof

The first step to using technology for future proofing your business is to promote a positive attitude and the right understanding of new technologies. In fact, technology can help your organization to evolve and enhance inside work practices.

The future of work is to use automation to eliminate tasks that no longer require human engagement. This allows employees to focus on more complex operations, which raises output and efficiency, and saves your business time and money. An example is the automated marketing process. A forecast suggests that this will allow the marketing industry to grow up to $6.4 billion by 2024.

Whether you’re a startup or a large enterprise, using new technologies will make it possible for you to adapt to business industry trends and sudden disruptions, as was the COVID-19 outbreak in 2020.

Which technology should you look to implement?

future-proofing your business

Implementing a range of digital technologies helps businesses improve efficiency and security. The main thing to decide here is which aspects of the business need the most attention.

Let’s see some of the top technologies that you can adopt to secure the future of your firm.

Hyper-automation

Hyper-automation is a combination of machine learning, multiple software, and robotic process automation. These technologies create an intelligent system that can control and complete a variety of business processes. Basically, this enhanced system does menial tasks automatically, instead of your employees having to do them manually.

Multi-Cloud computing

Multi-Cloud computing means splitting data storage and management between several cloud platforms. Your company can split storage between multiple providers, or you can use a distributed cloud provider that distributes the data between multiple data centers. Distribution across multiple data centers protects your data and creates a secure remote working environment for everyone involved with the organization.

Cybersecurity

The threat of cyber-attacks against businesses is increasing as a result of the COVID-19 pandemic and the subsequent move to remote work. A lot of companies lose millions of dollars each year because cyber-criminals get unauthorized access to critical data and assets. To avoid this, you should invest in technology that can strengthen your company’s cybersecurity.

New trends in business that future proof business

trends you can implement to ensure future-proofing

Here are 3 emerging business trends that future-proof your organization:

#1 Engaging your employees

Employee’s represent a significant investment of a company’s time and effort. Low retention rates are forcing businesses to constantly hire and train new staff. Your company should be attractive to potential hires. You can get there by offering, training, bonuses and other benefits.

Keeping your employees satisfied can be a great way to future-proof your business. Besides having a consistent workforce, you will also enhance productivity.

#2 The rise of the data economy

Nowadays, companies have the ability to collect huge amounts of data related to various business activities. One way is to use data to gain a deeper understanding of your customers.

For example, you can use online surveys to collect information about customers’ needs. You can then leverage data analytics to generate meaningful insights and adjust sales strategies according to what your customers want vs. what you think they want. You can also use the data to implement UI and UX trends that future-proof your website, and create a personalized experience that’s also easy to use and navigate.

#3 The growth of virtual marketplaces

The way people buy goods and services is constantly changing. Thanks to the disruption caused by COVID-19, more people are shopping online now than at the height of the pandemic. In fact, according to a new survey by PYMNTS, nearly 36% of all U.S. consumers are buying retail goods over the internet.

This is why you have to move your goods or services offers online, and create an e-commerce store besides your bricks-and-mortar points of sale.

Is your business future-proof?

To answer this question, you’ll need to evaluate your organization:

  • Can you handle the disruption caused by COVID-19?
  • Are your sales figures down? Why are they dropping?
  • Can you support a remote working environment?
  • Did you dismiss some of your staff in 2020? Why?

Whatever your answer, the outlook isn’t bleak. A few simple adjustments and the right technology can remove all of these pain points.

And we can help you with that!

Demakis Technologies can help future-proof your business so it can overcome any of the modern challenges you face now and in the future.

Contact us right now to find out how our managed services can streamline the digital transformation of your business and make it bullet-proof for years to come.

growth in saas

Growth in SaaS

Today, we are taking a look at the state of Saas (Software-as-a-Service). Specifically, we’ll explain the recent growth in SaaS industry. We’ll address:

  • The reasons why SaaS is growing
  • What the benefits of SaaS for your company are
  • The latest Saas industry trends
  • The future of SaaS in the next few years.

Let’s begin!

Why is SaaS growing?

The number and type of users of SaaS products have increased rapidly. Companies of all shapes and sizes see SaaS as an affordable, agile and modern solution for their digital transformation. But let’s get into more detail and examine some of the main reasons why that’s happening:

saas market trends

Security and reliability

Having your own server handling your customer’s valuable data requires a huge investment, especially if you want it to be reliable. An easy way to ensure the security, reliability and efficiency of those systems is to use outside services like Amazon AWS or Microsoft Azure cloud.

Subscription-based pricing model

The subscription-based pricing model of SaaS solutions is also rapidly changing the way companies consume software. It takes a lot less upfront capital to subscribe to a SaaS product than to purchase on-premise software or a license to use it. It’s also more sensible especially for smaller businesses to pay a monthly fee, which opens up the SaaS market to greater demand and growth.

Multiple SaaS solutions

A single SaaS solution is not enough for large-scale projects. But luckily, companies can integrate this type of software with APIs, for example.

Multiple SaaS solutions can then provide users with a diverse set of resources to address different demands. As a result, organizations effectively get access to the necessary features and functionality for the end-user. But that also means businesses are now using more than one software solution, which is additionally raising the rate of growth of the SaaS industry.

SaaS Industry Trends

Now, let’s take a look at some of the biggest trends in the SaaS industry at the moment:

Artificial Intelligence and Machine Learning

Businesses are learning that having AI to analyze data can free their staff up to spend more time with customers. SaaS combined with AI capabilities enables these companies to get better value from their data, but also to automate and personalize their services, and improve overall security.

Machine learning is another fast-growing trend. Netflix’ personalized content suggestions are a prime example of machine learning in SaaS-type models. And these innovations are just the beginning.

machine learning netflix saas

Vertical SaaS

Vertical SaaS providers offer the possibility of adapting features according to the demand of your company or industry. Vertical SaaS provides more flexibility and upselling opportunities, while effectively addressing customer needs. Examples of vertical SaaS include healthcare analytics software and modern logistics analytics.

Data security

Moving processes to the cloud comes with new security concerns. That’s why SaaS is focusing more on data security and protection, and cybersecurity in general. We’ll see this trend grow in the next few years as there will be more SaaS companies exclusively built around the need to ensure data security, privacy, and protection.

Cloud Growth: SaaS vs other cloud services

Cloud services are probably the brightest part of the future of SaaS. Despite all of the disruptions in the last few years, the growth of the SaaS industry remains steady thanks to cloud computing.

The recent anti-COVID-19 measures like social distancing, for example, were only possible thanks to cloud technology which allowed businesses to adapt to a new remote environment.

But all SaaS solutions are cloud-enabled systems. This means businesses can use the cloud to expand the functionality of their systems and extend it far beyond the initial offer.

Future trends in cloud computing

Growing worldwide public cloud spending

Organizations dominating the enterprise software world —such as IBM, Oracle, Microsoft — will likely maintain their market share for enterprise software products because the number of customers using SaaS is growing. Gartner expects worldwide public cloud spending by end-users to grow to $304.9 billion by 2021.

future trends in cloud computing

Multi-Cloud And Joint Cloud

This year we’ll see the beginnings of multi-cloud and joint provider cloud offerings, as providers realize they can partner up to accelerate launches, according to Park. The Oracle-Microsoft interconnect relationship that started in June of 2019 is an example of a relationship that could be expanded, said Young.

Serverless Cloud

According to Derek Swanson, going serverless is the next evolution of application architecture. He noted that the serverless interface on the cloud will become the interface developers interact with the most in the next few years.

What’s the future of cloud computing?

Since companies are finding new ways to organize, process, and present data, we can expect cloud computing to become an integral part of our lives.

“The future of cloud computing will most likely represent a combination of cloud-based software products and on-premises compute to create a hybrid IT solution that balances the scalability and flexibility associated with cloud and the security and control of a private data center.’’, said Michael Corrado, from Hewlett Packard Enterprise.

If you already use SaaS solutions to automate your business operations and processes, managed services can help you further streamline your architecture and its usability.

Please contact us or visit Demakis Technologies to see how we can help you optimize your digital transformation and raise the efficiency of your tech architecture.

Robotics and MSP

Robotics and MSP

Today, we’ll discuss the relationship between robotics and managed service providers.

Specifically, we’ll respond to the following questions

  • What is robotic process automation?
  • How does it work? And what makes it stand out?
  • How can it benefit your business?
  • What are managed services? And what’s their role in automation?

So, if you’re looking to leverage robotic process automation as a service to optimize your business, you’ll enjoy this article (regardless of whether you’re in retail, banking, finance, telecommunications, or IT).

Let’s get started!

What is robotic process automation?

Robotic process automation (RPA) is a SaaS (software-as-service) solution that enables robots (or bots) to automate and perform specific tasks without manual support.

These tasks are often repetitive, exacting, and time-consuming. So using bots to carry them out reduces the need for human input.

At the same time, automation lowers the potential for errors to occur. As machines, unlike humans, don’t have to think about doing a task – they just do it.

Tasks cover a variety of processes such as communication, data processing, financial transactions, and many others. Tasks also range from data mitigation to help desk support.

The benefits of robotic process automation

robotic process automation

A clear benefit of RPA is that it replaces humans by automatically performing repetitive and exacting tasks.

Think of RPA as robotics and industrial automation.

For example, machines and robotics in the manufacturing industry substitute people on the assembly line. As a result, mechanization lowers the demand for a large workforce at a factory.

Businesses benefit from RPA in the same way. In fact, it can reduce employee workload by as much as 20%.

Another advantage is visibility. All of the tasks that RPAs perform are transparent. And businesses just need a few operators to manage them and ensure absolute precision.

And less work means that a highly-skilled or creative staff can perform the same amount of work as a large pool of employees.

All of this helps you to rightsize your workforce. And that significantly reduces monthly overhead, while increasing their efficiency, and the efficiency of your organization in general.

How is RPA different from other automation?

Here, the main difference is the use of RPA within the front-end.

Because it can integrate with any type of existing system that you own, you can automate task-by-task. And since you target a single task, you won’t impact others or the process that it belongs to.

This allows you to create a fully scalable and sustainable ecosystem within a rapidly changing environment.

Due to the major changes in automation, RPA avoids traditional efforts that focus on larger-scale changes.

Instead, RPA handles only menial tasks of little value, which are still vital and necessary for your business.

Usually, these tasks are what disrupt workflow and place a burden on your teams. So automating them with RPA makes perfect sense.

What kind of industries can use RPA?

Robotics and managed services provider

There are two different types of industries that use robotics: manufacturers and service providers.

While manufacturing companies use actual robots in combination with the software, service providers typically rely solely on RPA.

The following industries apply the software to both B2B and B2C activities (which are almost all of them):

  • IT
  • Retail
  • Healthcare
  • Finance
  • Telecommunications
  • Food and beverage

What are managed services?

Managed services are third-party services that you can purchase to handle activities beyond your capacity.

Managed service providers (MSPs) usually handle highly specialized and advanced activities, like SaaS or maintaining IT infrastructure.

MSPs also provide a greater level of support and have many skilled professionals on hand who are available 24/7.

In the case of IT, for example, a company may outsource to an MSP rather than employ an entire IT staff internally (to adopt that process or reduce operational expenditure).

MSPs work on a flat-fee basis. They are also certified according to industry standards and the latest IT managed service provider trends.

MSPs are equipped with hardware and software that can meet their clients’ needs, including developers, troubleshooting, and field service support.

What is the relationship between robotics and MSP?

managed service providers robotics

As companies today follow the IT help desk outsourcing trends, we’ll see RPA handle a much greater percentage of IT support.

Because of that and the lack of tech capabilities among those businesses, more and more of them will have to outsource the implementation of RPA to MSPs.

At the same time, companies may rely on MSP for support when it comes to handling the cybersecurity of RPAs and the data it collects.

Just as we are witnessing industrial automation and robotics as an integral part of it, total automation isn’t far away.

As you read this, machine learning and advanced AI programming are already trying to emulate IT personnel.

What are the predictions for the future of the Internet?

Both robotics and MSPs contribute to the Internet of Things (IoT) and an even greater exchange of data over the Internet.

As for the predictions for the future of the internet, business people all over the world agree on one thing:

The individual roles humans and AI each have, and their relationship to each other.

So, the question remains open: how will we communicate over the Internet?

Will we be speaking to RPAs managed by MSPs twenty years from now?

If you’d like to be ahead of the game, learn how Demakis Technologies can help your company implement managed services, and contact us now!

Data Mining

Data Mining

We’ve recently discussed data collection and data-selling technology on our blog. But what happens to big data once you capture it? You have to process it somehow. And that analysis and extraction of information from big data is data mining.

But understanding data mining is also more complex than that. So if you want to know more about this topic, you’ll enjoy this article. Let’s begin.

What is data mining?

Data mining is the process of analyzing large volumes of raw data (data sets) to extract information from it.

Typically, this information includes patterns, irregularities, and connections within that data.

Based on the findings, individuals and organizations can extract value from big data.

In most cases, this means generating statistical forecasts that predict risks, opportunities, and outcomes within the context of that data.

In other words: data mining is the process of finding meaningful information in big data.

How to extract data patterns in statistics?

understanding data mining

Technology is critical if you want to extract meaningful information from data sets. The reason for this is the volume, complexity, and structure of big data.

Typically, the data sets you capture can be:

  • Structured
  • Unstructured
  • Semi-structured

Even with the simplest, structured model, manually analyzing large data sets requires a lot of time and resources.

So instead, researchers use software and innovative technology like artificial intelligence (AI) and machine learning.

These technologies can automatically process and analyze data sets to uncover patterns from them.

You can then use these statistical patterns in the data and apply them practically.

For example, when launching a new product, you’ll want to know what your target audience is, and whether they’ll welcome its arrival.

On the other hand, as huge as big data is, it’s never complete. It’s always provisional. So instead of applying it directly, you may first want to test it against more or other sample data.

In the product launch example, you could examine its effectiveness against existing products through a focus group.

What are some data mining techniques?

what are some data mining techniques

New technologies contributing to data mining are continuing to evolve. As they become more accessible, data miners can use them to adopt them and develop new techniques to extract information from big data.

And according to the International Journal of Computer Applications, there are 16 different data mining techniques in use today:

  1. Data cleaning and preparation
  2. Tracking patterns
  3. Classification
  4. Association
  5. Outlier detection
  6. Clustering
  7. Regression
  8. Prediction
  9. Sequential patterns
  10. Decision trees
  11. Statistical techniques
  12. Visualization
  13. Neural networks
  14. Data warehousing
  15. Long-term memory processing
  16. Machine learning and artificial intelligence

Who can use data mining?

While you’ll need the support of managed tech services, the importance of data mining can be felt across fields and industries.

A data mining example and its common use is science.

Researchers can collect data sets from across their field and use AI and machine learning to analyze and extract crucial results and findings for their research projects (regardless of their location).

But the addition of data mining techniques and algorithms isn’t limited to science alone. And there are many other uses for it in both the private and public sectors.

Here are a few types of data mining uses:

  • People search
  • Credit reporting
  • Market testing
  • Advertising effectiveness
  • Researching political outcomes
  • Risk evaluation
  • And many others
data science news

Successful data mining steps you can take

Now, let’s take a look at how you can effectively apply data mining techniques.

Here’s a quick step-by-step guide on how you can make the best use of data mining:

#1 Choose the project carefully.

If you want to extract maximum value from big data, align your data mining goals with your top business goal.

When you know which information you need out of big data, it’s easier to collect, process, and analyze the right data to acquire it.

#2 Collect a lot of data from multiple sources

This is straightforward. The more data sets you use, the more varied the data is, and the greater the accuracy you’ll achieve for your forecasts using that information.

This step has the biggest impact on user behavior analytics and predictive analytics.

#3 Simplify your sampling strategy

Even when you use powerful data mining platforms to process large data sets, try analyzing smaller subsets of data instead.

Simplifying samples to make them clear and concise is the key to generating the best outcome from your efforts.

#4 Always use holdout samples

A holdout sample is a benchmark. It’s a reference point that you can use to evaluate the validity of your predictive models.

This ensures that your predictions aren’t based on other predictive patterns from a defined set of data. But, instead, on actual estimates from the real world.

#5 Refresh your models frequently

Once you generate a forecast or data prediction, start applying it to your research, business, or operations. But don’t hold onto it forever.

These models are only as good as the relevance of the patterns that you find. And as the data changes, it will affect the validity of your forecasts.

That’s why it’s essential to feed new data to the models every week, day, or even hour.

If you’d like to learn more about how Demakis Technologies can help you manage your data, contact us.