Insights

Industry News 02/11/18

November 02, 2018

Reading time 3 minutes

Each week at Rokk we will be looking at the news stories from the world of software and app development in the digital marketplace. From technology developments to new market insights and trends; you can find the news in brief here.  

Gartner predicts surge in Retail technology investment

The Retail sector is set to ramp up investment in cutting-edge technologies by 3.6% next year, with Gartner predicting that retailers will spend around $203.6 billion globally on technology in 2019 to keep up with consumer demands. The analyst firm presented its findings during the ‘Retail Scenarios for 2025’ session at the annual Symposium/ITxpo. The increased spend reflects the shift in priorities for retail CIOs who are now aligning their technology with overall business objectives, prioritising ROI as well as minimising risk and cost. Despite the rocky retail climate this year, global retail sales did increase by 4.8% in 2018 and Thomas O’Connor, senior director, analyst at Gartner said that bricks-and-mortar stores are thriving with more stores opening than closing. The analyst house also predicts that by 2023, Amazon and Alibaba will have a 40% market share of global online retail.

Utilities sector failing to clear data from IT equipment post-GDPR

The call for digital optimisation has never been stronger in the Utility sector with a recent survey finding that 58% of Utility companies failed to properly clear data from IT equipment being disposed of following GDPR. The survey from IT firm Proband also found that an overwhelming 92% of Utility businesses do not have an official protocol for disposing of obsolete IT equipment. As well as the risk this poses to customers’ personal information, it puts the company itself at great risk of hefty fines from the ICO should the data be compromised. It is vital that organisations transitioning to any new IT infrastructure have proper security measures in place to take care of legacy systems and their information. Other industries which are guilty of not clearing data from IT equipment before disposal post-GDPR include Manufacturing (59%), Sales and Marketing (62) and Transportation (72%).

FCA issue early engagement notice for a four-year technology transformation plan

The Financial Conduct Authority (FCA) is in the early stages of developing a tender for a four-year framework to support its cloud and technology transformation. As the UK financial watchdog, arguably the FCA must lead the way in digital transformation for other Financial Services firms. The Government release states that, “The Financial Conduct Authority (FCA) has identified an ongoing need for cloud and other technology and project delivery resources, to support a number of its technology programmes and projects, as well as its transition to the cloud in the coming years, on both a resource and outcome basis”. The FCA has outlined the potential cloud-based solutions and specialisms which will be required in the building stages, including a migration plan, application architecture design, application hosting architecture, cloud architect, security architect, cloud engineer and a security operations engineer. The tender will also outsource project management, specialist technology and cloud consultancy.

Millennials more likely to have a negative brand perception when websites are down

If your business is having issues with its website it may well be deterring valuable millennial customers, according to a new study. In a survey of over 1,000 consumers, managed cloud hosting provider Hyve found that 57% of millennial respondents said a website’s downtime would immediately leave a negative brand impression. By contrast, less than one third of baby boomers and 18-24 year old consumers would have the same reaction. The frequency of a website’s downtime will also impact consumers’ attitudes towards that brand. 29% of millennials said they would never visit the site again if they experienced technical faults more than once. Overall, 36% of respondents said a website with poor usability immediately damages their opinion of the brand. Businesses who choose to have an online presence must remember the reflection this has on the brand overall, making consistent maintenance a must.