A human tragedy, the coronavirus pandemic is affecting thousands every day. Over half a million is the number of COVID-19 cases.
Not to mention, the global economy is tasting its effects already. The plague is spreading exponentially which has brought governments to pass an order for lockdown. Some of the world population can work from home and keep the economy from drowning.
However, the coronavirus business impact will transform economy and bring a new wave of commerce. Also, the business structure can possibly modify. The global economic standards suffer changes brought about by the coronavirus business impact.
As governments make significant interventions in the light of the COIVD-19 crisis, businesses are smartly adjusting to the changing needs of their employees, customers and suppliers. They are doing this with respect to the financial and operational challenges.
Almost every country has reported coronavirus cases worldwide. As of today, 29th April 2020, the number of currently infected patients is 1,967,878. Of which, 56,903 are in serious condition.
Even though the recovery rate is growing, the spread doesn’t stop. There are cases of asymptomatic people who may bear the virus. Otherproblems include the lack of testing kits. Which cannot make further assessments of the current scenario. Now, this is present only in some countries and has led them call for a total shutdown.
This has made the worldwide lockdown stronger. Thereby, hitting the economy bad.
The number of cases spread in different countries vary because each nation is at different stages with the coronavirus pandemic. Some countries that were effective early-on, are building surge capacity in their health systems.
In addition, the public-health approaches and tools that are deployed vary. Also, the protective measures like physical distancing, testing and tracing needs to be strict depending upon the epidemic phase of the area and its local context.
The COVID-19 is forcing companies to operate in new ways and systems resilience evaluation is happening like never before.
As business juggle a range of new priorities, systems and challenges, leaders must quickly address immediate resilience issues and exhibit a foundation for the future.
Without a doubt, the current COVID-19 crisis has changed our experiences forever. Once the virus threat wipes away, there are going to be changes in the way we think, communicate, design, and ignite experiences that people need and want.
The answers to each question will appear in the way businesses react to each case. How they tackle scenarios with innovation and with the kind of attitude they approach each challenge.
For example, in consumer goods, the crisis is evolving the consumer behavior; how and what consumers buy. This is accelerating immense structural alterations in the industry.
The coronavirus business impact has led the internal business operations to undergo changes and disruption.
The pressure of the epidemic has led work from home, of course, but not all tasks can be conducted that way.
Many MNCs have reassessed and restructured global complex and business critical services. Resilience is never seen as quickly as in 2020.
Companies are responding rapidly to secure the continuity and in order to de-risk their operations to serve their businesses now as well as in the future.
The coronavirus business impact has changed the customer behavior and their purchase styles.
Since the crisis has made companies speed up their adjustment procedures, this also includes reassessment of how contact centers are leveraged.
In addition, this also includes how employees deliver relevant customer experiences and how the digital channels can be used to support the increase in contact center volume.
Whilst this, leaders can shift to new ways of working in order to reduce potential revenue loss, position their business for renewed growth and forge advanced levels of trust with their workforce.
For instance, banking. Social distancing will make a huge crowd shift towards digital payment channels for services.
Currently, more than ever, the supple chain is critical.
Companies are required to supply goods and services safely and quickly. And especially to those who are at the risk of infection or who are working at the frontline of the medical team. Companies can protect the welfare of their employees, the supply chain workers and the throughout the order communities they perform in.
Moreover, organizations need to develop a rapid response in order to address the current disruptions and strengthen operations for future preparation.
Such is the coronavirus business impact extending its reach more deeply into business operations and the ROI. All over the world, this scenario is in practice which makes for a global economic recession. The upcoming days are yet to bring more news.
On 22nd April 2020, the Facebook-Jio deal was established. Facebook announced a $5.7 billion investment in Mukhesh Amban-led Jio platforms.
Along with the investment, Facebook will hold a 9.99 percent stake in Jio Platforms. Also, it targets to be the largest minority shareholder.
For Reliance Industries, the group that owns Jio, there exists unparalleled tech power that Facebook brings in India. Now, this opens the gates for Jio to compete with the most consumer-friendly fintech players in the Indian market today.
In the month of February, the RBI, Reserve Bank of India released draft guidelines for an NUE, New Umbrella Entity, that opened doors for a parallel payment infrastructure to the NCPI, National Payments Corporation of India-operated UPI.
Now, some may witness the Facebook-Jio deal as a threatening UPI and Indian public Infrastructure. But, this the entire motivation of the government behind this.
Moreover, the RBI has been speaking consistently regarding the need for innovation and competition in payments. With this ambition, it issued the NUE draft.
The UPI architecture was getting so restricted in capacity, mainly by a few concentrated players, that last year the NPCI proposed setting quotas for different payment players.
In order to qualify under a new payment framework, competition is stiff. That is because all the boss brands namely, Paytm, Google Pay and PayU take interest in qualifying for a license.
In that scenario, Reliance Jio already had a formidable appearance with its Retail infrastructure backing its ground. What the Jio wallet would have probably lacked in consumer-friendliness, Whatsapp Pay and Facebook would now make up for a mile.
The Facebook-Jio deal idea is much wider than any regular tech investment in India. With digital payments on the high rise globally with the COVID-19 crisis, the deal was perfectly timed.
The user adoption in India stands at 100 million for UPI, 400 million for Whatsapp and 388 million for Reliance Jio. With the interests of policymakers aligning with the two firms, this is an agreement where everybody wins.
Now, Facebook gains solid base against regulatory and other market forces in India, Reliance boosts up its technological layer, finds a way out of this debt and the RBI receives a worthy competitor to the NPCI to expand digital financial inclusion past the upcoming hundred million years.
This way, with the cooperation of Facebook and Jio, participants are benefiting impacting the country’s economy indirectly. Also, Mukhesh Ambani-led Jio will revert back to zero debts on March 2021.
To indulge in incredible enterprise app development securely, no longer remains as an alternative. In fact, this happens to be a necessity. Prompt and smart actions are the traits that increase the chances of success of a business.
What’s more, decision making must be active, wise and quick in order to streamline tasks and resume operations accordingly. This way, the ongoing operations facilitate business.
If the decision making happens slowly, the entire corporate architecture may slow down.
Node.JS stands tall as a final resort to entrepreneurs. It boosts business performance, data confidentiality, employee interactions, and diverse other factors.
The Node.JS server proves to be a serious savior to professionals associated with theenterpriseapp development department.
Moreover, the importance of this high and there are ample reasons for it too. And this article discusses just the important reasons for its suitability.
This, in turn, helps in the production of dynamic web page content before the page itself reaches the user’s web browser.
However, the biggest benefit of Node.JS is that it employs asynchronous programming. In a way, it brings web application development under a single programming language for both client-side scripts and server.
In addition, developers use Node.JS in order to build real-time web applications that help of push technology applied over WebSockets. And this feature makes it valuable to the developers who build enterprise apps.
The Survey of 2019 regards Node.JS as the most popular platform in the category of “Frameworks, Libraries, and Tools”.
Node.JS has certain aspects that makes entrepreneurs choose it to develop complex enterprise app development.
But, there is no one reason for this. It performs strongly and has other areas in check as well.
It is written in C++ and is based on Chrome’s V8 runtime. In other words, Node.JS is designed to work on several operating systems and built to be extremely quick.
In addition, both V8 and Node.JS are updated on a regular basis without fail. And this makes their performances optimized. Moreover, the upgrades ensure that the security packages are always done.
Furthermore, since the Node.JS architecture is single-threaded and event-driven, this can manage multiple connections effectively as well as simultaneously.
Now, this ultimately discards the drawbacks that come with web platforms that create additional threads for fresh requests. Thereby, it feeds on RAM in order to process the same.
It uses a single thread and implements event loop and callbacks meant for I/O operations making task authorization quick.
Moreover, Node.JS happens to be scalable from the very first implementation. Also, it is completely equipped with features like PM2 process manager and Cluster module. The later supports load balancing over diverse CPU cores. The former simplifies the monitoring, deploying, and optimizing of Node applications.
It also allows the building of cross-platform desktop apps using certain platforms. A team of developers can reuse codes from the web apps to the desktop apps that are compatible with Linux, Windows and MacOS.
In addition, the same developers can work on the web apps and even build desktop apps without being skilled in Objective-C, C#, and similar languages used for native app development.
Node.JS Developers have the authority to access Google Chrome Developer Tools and similar ones. And this offers them the power to debug better.
In fact, all the developer tools associated to Node.JS are cross-platform. Thereby, they dismiss the need for developers to have a Windows machine to build Windows apps or a Mac machine to create MacOS apps.
Therefore, Java and .NET developers welcome Node.JS with warmth.
Learning Node.JS and developing scalable apps that work in Windows as well as Unix systems isn’t a Herculean task.
Otherwise known as the NPM, the Node Package manager has released an enterprise version to uphold the security as well as privacy of large companies.
It is effective in enabling programmers installing, utilizing, updating modules in Node.
These modules are nothing but minor software packages that are open source. Due to NPM, developers enjoy the liberty to do without writing common features from scratch.
Companies can easily identify vulnerabilities, automate the replacement of improper codes, and control code access.
For a smart app development, Node.JS is one of the favorites of developers. And its reusable RESTful APIs is another feature that sets it aside as the best.
Moreover, this is the best reason for Node.JS to be the best option for enterprise app development.
Now, they can be connected to the backend without becoming cumbersome.
In addition, large volumes of data can be easily handled without things ending up in a problematic situation. Eventually, this supports the development of software at large scales.
To make the apps clear and free from clutter, regular updates become mandatory. And this is something that both Google Chrome V8 and Node.JS practice responsibly.
So, keeping the apps well optimized, the bugs and errors don’t crawl back and present a secure ecosystem.
When the question of enterprise app development arises, Node.JS happens to be the best option. Being best for back-end services, it happens to be one of the favorites of the app developers.
Once used, most developers tend to stick with Node.JS and never return to a different platform. Such is the power of this in the realm of app development.
Blockchain-based event management systems simplify the tasks of event organizations.
Also, they help craft better and smarter experiences for the attendees.
Events are happening worldwide whether in smaller or larger circles. Concerts, trade shows, sporting events, seminars, etc involve smart event management to make interaction and the purpose of the event a success.
In addition, to some companies, Live events hold immense significance in their growth. A survey says that around 80% of marketers reported that such interactive events are critical to their company’s growth.
Moreover, businesses welcome expansion with such active engagements.
They believe, the larger the event, higher is the marketing opportunity it offers. And this is because of the high volume of attendees.
Also, the Live event and its physical delivery makes a prominent impact on the attendees. And this contributes towards a staunch marketing. As opposed to digital marketing, event management lends a wholesome engagement physically.
We can say, the power of traditional marketing is still alive and is thriving strong. In fact, to refine them even more, the avant-garde technologies are being integrated.
Blockchain technology happens to be one of them in revamping the event management domain.
Event organizers find it difficult to manage the abundance of attendees. But, of course, they find out their way with it. However, the modern time and smart businesses opt for those that work with some kind of automation.
Why is that?
This happens only because of efficiency and well-reasoned management that today’s new technologies ensure.
Therefore, in order to overcome such challenges to maintain and engage, event organizers employ Blockchain-based event management systems.
However, the potential of the Blockchain technology in the event industry remains largely unexplored. The related functions most businesses incorporate and practice are just the tip of the iceberg.
But, there are certain convincing applications of Blockchain in industries that are related to the event management sector. And these have enabled activities like the following.
A serious concern for the event organizers is the potential fraud behind selling tickets.
Now, the tickets of popular matches like soccer sell out in no-time. And there are fans who fail to get one. So, they become desperate to try any alternative source to get a chance to look at their idols play.
This is when the ticket scalpers buy tickets beforehand and after that sell them. They sell them at exorbitant high prices to the helpless fans who couldn’t buy. And this happens to be a regular scenario with such events.
But, with Blockchain-based event management system, those in-charge can tokenize tickets and sell them on exclusive Blockchain platforms. With this, they always know and can manage the ones who can buy tickets from them.
Also, they can even allow second-hand ticket sales at their original prices. This way, they tend to eliminate the chances of predatory ticket scalping.
If an event is about to hold an enormous number of attendees, it becomes problematic for the event organizer to tackle and control such a large crowd and to fill their demands.
Now, there is another thing that can happen. More than the ones invited can appear and add up to the commotion. For this, the visitor management department contributes in keeping track of the number of attendees and allowing entry to the ones who are authorized only.
The idea is to offer a hassle-free and convenient event experience. Or else, too many outside interventions disrupt the expected management and hampers the entire experience too.
Through Blockchain-based event management system tools, one can enable prompt attendee verification at events using virtual identity cards.
Now, these cards can be employed in conjunctions with event passes in order to authenticate their credentials as well as their eligibility to participate in the particular event.
A great marketing platform, events can leave a lasting impression. They also ensure a high audience engagement level based on memorabilia.
For instance, leading sports teams like Juventus and Real Madrid connect with their fans and followers in order to keep them engaged.
This way, Blockchain-based event management systems are being increasingly popular. With a boost in their adoption, more and more companies are solving their problems.
However, the key to implement the Blockchain technology is to start small, clearly defining the issues being solved.
Big Data Analytics enables businesses to offer personalized services and improve pricing strategies based on market trends.
The modern world has made businesses rely on data to process daily operations. And so does the travel industry. And leveraging the modern-day technologies into business operations help upgrade the organizational processes completely.
In fact, the business approach for everything modifies and accelerates futuristically. And with Big Data Analytics, the travel industry is evolving to be more efficient in their operations and services.
However, this article discusses the three ways in which Big Data Analysis is revolutionizing the travel industry.
Data keeps businesses continue with smart approaches to maintain the constant position in the market. It drives structural operations in a much necessary way.
Big Data Analytics is assisting businesses to extract information they require in order to evaluate their current performance. Also, it has the potential to offer insights extracted from data and anticipate the future circumstances.
In addition, Big Data Analytics has the potential to set in motion an iterative cycle of improvement cycle in customer experience. And this can begin right from the first interaction to the end of the journey and further.
Big Data Analytics offers productive insights from customer data in order to assist businesses in offering personalized services to them. Also, it can predict what services a customer is more likely to use thanks to its insights into the customer behavior.
Now, to explain this, an example can come in handy. If a traveler takes his pet along with him on every trip, the travel agencies can show him hotels that allow pets.
Moreover, big data analytics can also help categorize customers based on their preferences, demographics and location. For instance, if a senior citizen plans to take a vacation, the agencies can suggest him the routes that are more convenient for him. Elderly-friendly options would work great for him.
Now, if a millennial arranges for his tour, the businesses can focus on the torutes that are more lively and enjoyable.
Big Data Analytics reinvents the travel industry in ample ways. Their contribution is commendable as it has streamlined processes and made businesses take decisions that directly affect their revenue.
Now, all of this is only possible when one has a keen eye on the market trends. Constant research on the contemporary trends and practices their competitors are employing to stay ahead.
Big Data assesses data from the whole travel industry; tally them with the concerned business protocols and refine the business approach even better.
For instance, Big Data can lend information such as the services the competitors are offering in a certain price range. With a careful research into the competitor market, every company can curb their approach and perfect their standards that sit close to customer expectations.
In addition, businesses, after having studied competitor behavior, can offer additional services within that range. Or can even offer a wise discount. This way, they can reach the desired audience easily.
Analyzing the price of diverse tour packages in accordance to demand is one of the important functions of Big Data Analysis.
Also, it can anticipate the future in order to help in developing optimal pricing strategies. For instance, it can reflect on a particular country’s climate and draw relevant facts. U.S. is the best when visited during spring or fall.
Big Data Analytics reinvents the travel industry is plenty of ways. And the pricing strategy is one. The charges appear before the wanderers smartly stating some fact as to why they should choose them. Now, that involves some great copy-writing skills.
I addition, Big Data helps in assessing the availability of rooms during the travel season in hotels. Then, businesses can adjust their room pricing when there is a crunch in the availability of the same. And this goes inversely when the demand and the crunch are low.
In this manner, Big Data Analytics reinvents the travel industry and let’s businesses take a futuristic turn. This way, the tourism market grows and smartens up with new technology to back their growth. Eventually, this positively affects the business revenue as well as the economy of the country. So, we can see the extent to which Big Data can rise contributing to l=something long-term and of national well-being.
The functions of Blockchain are known to all. But, the way it works isn’t. So, in order to understand, it is important to study the basic elements of Blockchain architecture.
Blockchain is an expanding list of cryptographically signed and irrevocable transactional records shared by all participants within a network.
It offers ample business benefits like greater transparency, improved traceability and enhanced security that make Blockchain stand out. And all of these special and advanced perks are possible only due to the complex and intelligent architecture of Blockchain.
Moreover, the majorities of database technologies turn to a client-server network where a server stores data and is administered. But, Blockchain is different. It uses a distributed network where all the network participants have the authority to access, update and maintain data. Eventually, this data moves through plenty of Blockchain architecture elements right before they are inserted as a block holding data in the Blockchain.
The way it works is not as simple as the definition sounds. When it comes to practicality, complex discourse is a constant. The rest of the blog will present the Blockchain architecture of Bitcoin in general.
Blockchain happens to be a peer-to-peer network working on IP protocol. In this network, nodes are the computer that processes and authenticates transactions. Each and every node has a replica of the complete Blockchain database that stores all the information of a transaction. Finally, when multiple nodes possess similar transactional details stored in their database, there are considered as consensus.
When a new transaction to an existing one arrives, every node evaluates those transaction algorithms. In case the majority of these algorithm nodes come to a consensus which is a valid transaction, the transmission is recorded into the ledger along with a new block being added into the chain of transactions. Or else, it is denied.
Suppose if a new Bitcoin is added to the Blockchain, the details are delivered to every node. Each node then authenticates the addition of Bitcoin with different network databases. Then, it adds or rejects it accordingly.
Transactions happen to be the smallest blocks of the Blockchain architecture. They store sender address, recipient’s address and other important data. Their function is to change the state of the agreed-upon Blockchain. Transactions are bundled and take the form of the blocks before being delivered to each node.
Now, each of the nodes verifies those transactions as they get distributed throughout the network. After the verification of the nodes, in case most of them arrive in consensus, the data is successfully added to the Blockchain.
In addition, transactions contain more than one input that act as references to outputs of earlier transactions. Besides, they also hold outputs that uphold an amount or an address.
Each transaction shifts the value of Bitcoin between two addresses. For instance, when Alex sends a Bitcoin to Cindy, the transactions will shift the value from his address to her.
This way, it leaves a reference for the earlier transaction’s output. Also, the transaction’s output becomes a public key. To this, Cindy will hold the private key along with a value of Bitcoin. Now, once the transaction gets verified, Cindy will successfully receive the Bitcoin value and the Blockchain will have all the detailed added.
Blocks are the elements of the Blockchain architecture that bundle up a series of transactions and actively distribute them to the nodes of a Blockchain network.
The task of creating these blocks are that of the miners. A block comprises of metadata as well as some transactions that the miners select. The block header holds the metadata for nodes to use and authenticate the data of a block.
Moreover, the metadata comprises of various fields for instance,
Referring to the Bitcoin Blockchain architecture, users make transactions that sit in a pool unless a miner bundles it to craft a block. In the network, miners include any transaction. It is the consensus rules that validate and sorts transactions systematically.
To recollect, let us define miners again.
They are the nodes that bundle transactions and create valid blocks that the rest of the networks accept. They add a hash function to every block. Their feature is that miners are one-to-one functions and this indicates that they will lend the same hash functions with the same input.
Besides, they happen to be one-way functions. That is, it is not possible to work them backwards. This way, the hashing functions become an essential aspect that contributes to the security of the Blockchain architecture.
Moreover, it is due to hashing that it is impossible to change metadata of a block. That is because altering even a minute detail of the block header will create a new hash function altogether. And this will be authenticated once again before inserting it to the Blockchain ledger.
The mining process comprises of creating a new hash function and assessing whether the function fits the current difficulty level of the block.
In Bitcoin, this is an incentive that creates new coins right from coinbase transactions. This is a type of transaction present in all blocks that has a single output value. In case the miner’s block gets approval by the entire network, the address gets credited with the new Bitcoin.
The concepts including processing, verifying, etc prior to adding them to the Blockchain is called consensus. Rules of the consensus ensure that the database copy of a node remains consistent with one another as well as the most update one.
Moreover, as a Blockchain network enlarges and grows, the consensus algorithms grow stronger. This happens due to the increasing number of participants leveraging their own database.
In addition, there are many consensus rules like Proof of Stake, Simplified Byzantine Fault Tolerance that defines rules for diverse actions.
Now, centering towards how a Blockchain developer will craft a platform with the assistance of the Blockchain architecture components, one can classify the Blockchain network into diverse types: public, private, hybrid Blockchain and consortium. And these branches of Blockchain network offer various advantages according to the business model and need.
This way, the Blockchain technology performs to function with perfection.
Integrating the advanced technologies into the consistent ones can double the experience and benefit businesses to keep an organized track of them all. And leveraging big data in mobile app development helps understand the end-users behavior, develop marketing strategies as well as maximize and generate more revenue.
Studies show that 63% of the world population demand personalized product recommendation. In today’s world, where customers crave for such customized suggestions, big data analytics steps up to tailor products so as to make the product functional for the individual customers.
The products encompass web-based applications among other kinds. Now, developers don’t require contributing much effort since they can easily process an enormous amount of data in order to scour out the exact attributes that their customers need. Eventually, this understanding helps in quicker web-oriented application development. Also, big data analytics facilitates accurate traffic analysis that further assists in developing strategies in order to improve and refine the functionalities of applications.
Now, mobile application development is spreading like wildfire. Almost every business has their own app which benefits both the end-user as well as themselves. Through an app, operations become streamlined and therefore efficient. But, that is just the base. Industries and companies within are growing and adapting to the ever-changing technological scenarios worldwide. And big data analytics is contributing massive to quicken the entire process that otherwise took hours or even days.
A survey stated that around 204 billion mobile apps were downloaded in 2019. Notice the magnitude of app usage? This is due to their convenience considering the user experience and organizing tasks giving real-time updates.
Mobile applications also offer additional perks and benefits over web-based apps. Smartphone apps can track user’s live location, offer real-time collaboration with them, can track fitness data if linked to a wearable, etc.
Moreover, businesses can actively leverage big data in mobile app development in order to combine the benefits given by each of them.
With the dedicated and smart guidance of big data analytics, businesses can understand the behavior of users and their interests. And this eventually helps in refining the marketing strategies and therefore making them more effective. Also, they can actively provide personalized recommendations and suggestions to the customers. They do this on the basis of locations, demographics and preferences.
However, here is a list that shows how big data analytics is refining marketing strategies and making businesses hit the center with efficiency.
Mobile apps let businesses pitch their products and services via email notifications. However, they cannot send notifications for any item at random. Here, real-time big data access assists businesses to understand and perceive what products to pitch and the right time for it.
In addition, big data analytics also offers opportunities for businesses to assess customer demands and needs in order to create tailored products. Also, big data helps to create the right marketing strategies to reach the ideal customers and users. Now, this involves referring to the analytics and to draw insights according to that.
Moreover, big data assists mobile app development process to understand their end-users better. And then, developers can create and make an application that would serve the users with the attributes they desire for creating a great UI and UX design and functionality.
With the availability of preferences, locations, demographics, developers can understand and perceive the users for whom the app is being made. According to the user experience analytics, app developers can create updates in the apps in order to enhance the UI, or the User Interface.
With the stats and analytics exhibited, developers can tailor the mobile app so as to refine the functionality and the usability of the app for the concerned user type. The target audience receives the accurate UI and UX with the help of big data analytics.
Therefore, the products become a close match with their expectation, interests and needs. Today’s technology has made business owners, developers and entrepreneurs empathize with the user and read their minds. Thus, the mobile apps become properly customized so as to keep the market hot and ongoing.
Also, as we know, product usage and expectations can vary from country to country. And standardizing them becomes important. However, it all happens with big data analytics beside as the task quickens thanks to the prompt functionality of the technology.
Decision-making is an art. It is a fight between the individual and his dilemma. Smart decision-making skill is choosing between the thing that is ideal for now and the one that is perfect and fitting in the long run. Technologies like big data and IoT, i.e., the Internet of Things, devices can offer access to real-time data for predictive analytics that can help to create and improve the strategy of decision-making.
Also, with data and deep insights, decision-making can be refined and taken efficiently. Deductions happen quicker without keeping the future at stake. In other words, businesses can multiply and expand with the assistance of big data when integrated properly.
In this manner, big data analytics and their functionality is tailoring products and offering customers the best possible experience. With a smart UI/UX of a mobile app, that the target customers understand and can work with ignites the vehicle for sale and generating revenue. This way, big data is driving mobile apps of today responsibly.