How much has digital marketing increased the revenues and profits of your small or medium-sized business?
You probably think that the answer to the above question is some variation of “a lot,” but the number could be tiny compared to what the answer to the same question will be in a few years thanks to the advent of cognitive computing.
Cognitive computing is the “third major era of computing” after tabulating machines and programmable computers, according to a Forbes magazine article entitled “Cognitive Computing Ushers In New Era Of IT.” The 2014 article reports that cognitive computers will interact with people using the language that we use rather than programming language, will offer people advice rather than waiting for commands, and will become smarter as they are exposed to more data.
“We’re seeing a new wave of innovation that’s transforming all kinds of machines — not just computers — into ‘intelligent’ devices that will revolutionize our biggest industries,” computer industry analyst Mike Wheatley told Wired magazine in an article entitled “Cognitive Computing Systems: An Important Cog in the Internet of Things Machine.” “The Industrial Internet will be the most important development since the Industrial Revolution, giving the world a platform to exchange untold amounts of Big Data — and that will lead to massive advantages that experts have only just begun to quantify.”
Historically, small and medium-sized businesses have used a wide variety of digital machines such as cellphones, personal computers and smartphones to improve their marketing. These machines help businesses analyze data and, thus, help businesses target their marketing and sales campaigns.
In July, 2014, the information technology research firm Gartner, Inc. issued a report that predicted the marketing efforts of companies will benefit tremendously from cognitive computing and, in fact, cognitive computing software has already been used in “mobile applications, smartphones and ‘wearables,’ all of which are used to collect and synchronise information on users,” reported the L’Atelier newsletter.
“B2C (business to consumer) suppliers should adapt their strategies to exploit these changes and generate new revenues,” recommended the Gartner report.
Part II of the report on Cognitive Computing will be posted in the near future.
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