PromptWorks Announces Trends for 2016, Sees Growth in Productizing Predictive Statistical Models, Tapping Into Data From IOT and Wearable Tech
PHILADELPHIA, PA - PromptWorks, a Philadelphia-based consulting shop delivering customized web and mobile web applications, announced today key technology trends the firm believes will have an impact in 2016.
"Because we work with dozens of clients, from startups to enterprises, operating across a range of industries and emerging technologies, PromptWorks is in a unique position to observe trends affecting software development," said Greg Sterndale, PromptWorks Co-Founder and Software Engineer. "Now that many organizations have it, we're seeing a lot of interest in generating more value from big data, both in terms of how it's applied and how it can create new lines of business. We expect 2016 will present new offerings and opportunities derived from data generated by wearable tech and the Internet of Things."
- Productizing predictive statistical models: Now that everyone is on board the big data train, companies are looking at how to make big data profitable. Smart companies are discovering new value in their data, using data to generate statistical models, turning them into sources of revenue. And their customers are paying big to make more informed decisions with predictions they make such as "Which health insurance plan should I choose?" or "Should I do this retrofit on my building?" or "How much should I pay this candidate?" PromptWorks has seen an uptick in demand for projects that turn predictive statistical models into products that provide value and generate revenue.
- With the growth of wearable tech and IOT, expect more ways to quantify your life: Fueled by smart sensors in a range of form factors and network-enabled devices, wearable tech and the Internet of Things will become more mainstream in 2016. Because right now, data generated by wearable tech and IOT all go to different dashboards and apps, whether on your smartphone or some third-party cloud-based app, PromptWorks expects to see growth in services that aggregate and combine data from disparate sources and trigger some actions.
- Lean startup in the enterprise: In order to embrace the agility of lean startups, more enterprises are changing the way they work. Their identifying smaller, focused teams that favor iterative development over (fixed-bid) big design up front. These teams are tasked with finding new lines of business, and use commodity cloud resources rather than go through IT as a way to save money and increase their speed. This trend recognizes that large, traditional skunkworks approach can prevent enterprises from responding quickly to product and market changes. It also shows that enterprises realize they need to be open-minded to what they need to build.
- Enterprises integrating with startup tech: In past years, a big company might have purchased a startup to access its talent. But in 2016, PromptWorks believes some enterprises will realize that those sorts of acquisitions don't always meet the expectations of either team. Instead, expect to see more partnering between enterprise and startups. This new model will allow them to wire up their various online services to interact with each other. This will make their products more useful, accessible, and attractive because they can integrate with tools that customers are already using. Best of all for enterprises, teaming up requires a relatively small investment to integrate. And for startups, the benefits include validation and access to the enterprises as a marketing channel.
- Enterprises will continue to adopt FOSS: Free and open source software (FOSS) has been around for a while, but PromptWorks sees FOSS continue to be embraced by enterprises in 2016. Reasons include: open source's large user community that provides updates, which means less tech support and greater flexibility in what you do with the software. Plus, FOSS is a less risky proposition for new initiatives because it doesn't require the purchase of an expensive license, so enterprises (as well as startups) are able to dabble without a lot of red tape. Even Microsoft and Apple are open sourcing a lot of their software.