DataArt Makes 2016 Predictions for Enterprise Software Trends

Banking digitization, customized financial solutions for millennials, personalization and IoT-enabled travel solutions, patient-centric medicine, and evolution of new data management systems will be among the top enterprise software trends to watch in 2016, according to practice leads at DataArt, a global technology consulting firm that creates end-to-end solutions for the Financial Services, Healthcare, Travel and Hospitality, Media and IoT sectors.

For the financial services sector, DataArt expects to see key changes as the millennials and digitization continue to disrupt the industry:

• Millennials, who are expected to inherit $41 trillion through the mid-century, have "their own tools and rules" and the traditional ways financial services operate don’t always work for this generation. Understanding their needs and expectations will be crucial, as well as leveraging a strong digital strategy that addresses tools they plan to use or are already using, including mobile banking, robo advisors and P2P payments.
  
• Digitalization will continue to disrupt and transform traditional business models faster than ever to meet customer demands and address new realities and opportunities in the marketplace. To stay ahead of the curve, financial services firms will need to utilize innovative frameworks that deliver customized solutions and support rapid application development.

Patient-centric medicine, adherence to regulation and focus on cost reduction will drive fundamental changes in the healthcare industry:

• Telehealth will continue to transform the way organizations deliver healthcare services, from national drugstore chains to global health systems. Convenient access to healthcare services remotely from any place will be crucial for the overall improvement of patient care and lowering costs. Expect to see the U.S. and global regulatory changes reshape the way healthcare providers deliver services to clients, especially in those areas that are medically underserved.
  
• Precision medicine, which is the tailoring of medical treatment to the individual characteristics of each patient, will significantly improve quality and pace of therapy selection.

Mass consolidation, personalization of services and smart management of big data will lead to changes in the travel and hospitality industries:

• Tier one Online Travel Agencies (OTA) will continue to "verticalize" up and down the supply chain as lines are now blurred on the distribution front. Vacation rentals and peer-to-peer marketplaces will start to collaborate with traditional hotel distribution channels, penetrating making a tremendous impact in the business travel sector.
  
• Industry will look to alternative revenue sources including table reservations, activities and vacation rentals. Consolidation and the challenges of integration for the top OTA players should afford the leading hotels an opportunity to differentiate with unique and authentic experiences while travelers are in destination: mobile concierge, self-check-in, keyless rooms, smart/eco guest experience and integrated activities.
  
• Personalization will continue to transform the industry. Travel headaches including last-minute gate changes or late arrivals can be avoided with beacon technology. The airlines and other travel-related services can provide customers with an array of location-relevant information including walk times to gates, lounge access and boarding alerts for a better overall travel experience.

In media and entertainment industry, new publishing platforms will emerge, offering more meaningful and deeper engagement with the audience, and digital distribution will continue to dominate the market.

• Free and on demand streaming libraries will take over paid content as users are increasingly opting to subscribe to streaming services, such as Netflix, Spotify, Deezer, Rdio; YouTube and Amazon Prime. Paying to own music and movies soon will become a thing of the past.
  
• As social platforms become more competitive about keeping users in-app longer, they will offer new publishing platforms and techniques to engage audiences.

The IoT industry will be a year of competition, as platforms strive for supremacy.

• Amazon Web Services (AWS) will continue to spark IoT competition. Management of data will be key in IoT competitive marketplace. Platform scalability (the capability of a system, network, or process to handle a growing amount of work), computing and analytics will rise in importance
  
• Cloud computing will continue to attain new standards. Data processing engine, Apache Spark, will lead the way as the best and most popular analytics platform on the market. Research and visualization tools such as Databricks Cloud, Tableau, and Apache Spark will revolutionize how companies handle their data.