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Leveraging the third platform: New technology enhances business insights

How mobility, social media, the cloud and big data can support success

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Information technology (IT) spending is on the rise in all industries, as companies implement new strategies to increase innovation and create a competitive advantage. Many organizations are focusing a significant amount of that investment on the latest step in the continually evolving technology environment: the third platform. The third platform and its capabilities have fundamentally changed the role of the IT leader and how many solutions are applied and used.

The third platform consists of new technology resources that add dimensions and information capabilities to help make better business decisions and increase revenue. These resources include:

  • Mobility
  • Cloud computing
  • Social media
  • The Internet of Things
  • Big data

The third platform has emerged for a number of reasons, including advances in computer processing power, enhanced mobile technologies and evolving demographics. Its potential can be seen across an organization, from enhancing customer service to increasing efficiency in several key areas.

To take advantage of third platform opportunities, organizations must evaluate the technology budget and existing priorities, and make changes to integrate the new technology properly. Several steps can help companies understand the right path to third platform implementation, such as:

  • Forming an innovation team
  • Benchmarking competitors
  • Reviewing customer requirements
  • Developing an IT road map
  • Considering outsourcing requirements

The IT landscape continues to change, and embracing third platform technology can help companies increase efficiency, capabilities and competitiveness. However, to realize the potential of the third platform, companies must commit to adjusting and continually assessing IT resources and priorities to stay current.      

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