5 Harvard-Recommended Ways to Improve Data Management for Your Business
Connectivity is a crucial factor in determining how well a business can perform.
Whether you're reliant on the cloud for data management and storage, or you're supporting remote workers through the web, you're going to need excellent connectivity.
Recently, 5G has emerged as the new solution to boost business bandwidth, deliver better connection speeds, and more. 5G networks usher in the new generation of mobile and WiFi technology. This allows companies to tune into reduced latency and even new innovations. However, with 5G still in its early stages, many organisations still aren't sure what to expect from this potential upgrade.
Here are just 10 of the ways that 5G could enhance and optimise the enterprise.
Finally, the most important benefit of 5G for the enterprise comes in the way that it will affect latency. Today's 4G networks are relatively inconsistent in terms of speed. The average connections at busy times during the day can quickly drop and deteriorate for a range of different reasons. However, studies show that 5G is far more efficient with its use of the connectivity spectrum.
For modern companies, 5G will open the door to a better broadband experience, particularly over mobile connections. This means that we won't see nearly as much lag or delay when using crucial devices. With 4G, the average latency is up to 50 milliseconds. With 5G, latency is around 1 millisecond or less.
Significant Cost Savings
5G is predicted to be the tool that extends the battery life of various devices by up to ten times. This means that businesses could see immediate cost savings when it comes to investing in infrastructure and hardware. What's more, 5G networks will also enable a shift from an economy that focuses heavily on equipment, to one that's more reliable on software and systems in the cloud.
With 5G, companies can move towards a more cost-effective operating model that limits their outgoing expenses, while ensuring that they can still access the latest tools and innovations.
Greater Scope for Innovation
Aside from introducing new business opportunities for service providers, 5G has potential to open the door for other innovations too. For instance, with 5G linking artificial intelligence in cars to background computer systems, there's the potential to create fully autonomous vehicles that don't need a human driver to operate.
5G is also likely to be the medium that ushers things like virtual reality and augmented reality into the current marketplace. Industries ranging from healthcare to manufacturing will be able to explore new opportunities to grow and evolve, thanks to stronger connectivity.
Rise of Network as a Service
As a much faster and more reliable connectivity solution than the systems we have today, 5G also opens up opportunities for new business models. 5G is more energy-efficient, secure, and latency-free than any previous connection. That means that service providers will be able to offer different kinds of packages for companies that want to access their network connectivity through an as-a-service model.
We've already seen the rise of similar as-a-service experiences in the contact centre, communication, and software space. Network as a service packages will give today's businesses access to more affordable opportunities for growing their business without huge initial investments.
If you operate a business that relies heavily on network-related tasks, such as a company in the eCommerce or document-sharing space, then access to faster internet could mean big things for you. Quicker connectivity ensures that your company will be able to get things done faster - improving efficiency and reducing disruption in the workflow.
With 5G, whenever someone on your team updates a file or project on the cloud, the rest of your team will be able to see that update instantly - no matter where they are, or how big the file might be. At the same time, 5G will make it much easier to collect vast amounts of real-time data from devices in the IoT network, machine learning software, and more.
New Options for Working
For the last decade or so, remote and mobile working strategies have been on the rise. Companies of all sizes are starting to discover the benefits in productivity when they allow their employees to adopt flexible schedules. However, there are limits to what we can accomplish with remote working when connectivity is limited.
The rise of 5G should mean that teams can more effectively collaborate and communicate, regardless of where they are in the world. In the years to come, the low latency and reliability of 5G may even make AR and VR more of a reality in business environments too. This could mean that people can virtually visit their offices from overseas, or when they're on the move.
Connecting Everything with the Internet of Things
Connected devices are having a significant impact on the way that business is being done these days. Connected machines and sensors allow companies to automatically track the production line performance, manage inventory, and speed up customer deliveries. Of course, IoT connections rely on constant connectivity to send information between multiple devices.
Currently, the existing connectivity in the marketplace allows IoT models to work relatively well. However, there's some lag between the moment when a device sends an alert, and the moment it's received on the other side. 5G networks will be able to cater to the increasing connectivity requirements of Internet of Things devices. This means that data and notifications will be transmitted in real-time.
Improved Business Communications
The latency and time lag associated with previous generations of business networks are all but eliminated with 5G. With delays of less than a millisecond anticipated with 5G networks, companies will be able to access a virtually lossless experience of data transmission. In communication, this means companies will have higher quality of voice and video available to them at all times. This includes when they're interacting over mobile phones.
The higher speed, reduced latency, and enhanced data handling abilities of 5G means that even remote workers will be able to access 4K or HD video streams. They will also have high-quality audio wherever they are.
When people talk about 5G networks, they often concentrate almost exclusively on their speed. However, the nature of these connections also means that businesses will be able to access more bandwidth. Therefore, they can run multiple applications at the same time. This means that you can get more done without having to pay more for your data allowances.
Upgrading your business data network should be much easier with 5G. Companies will be able to scale up their technologies and infrastructure according to their needs. This is particularly useful in an age of globalisation and rapid expansion.
Quicker speeds are probably the best-known benefit of upgrading to 5G. Some people suggest that 5G may be infinitely faster than previous generations of connectivity. However, in reality, you're looking at speeds that are about 10 times faster than 4G. Rates like that can translate to considerable changes in how your business operates.
For instance, on 4G, if you wanted to download a full HD movie, and had a good connection, you'd probably need about 10 minutes to get your file. On the other hand, some 5G networks would allow you to access the same quality of content in one minute, or even ten seconds in certain parts of the world.