There is a compelling approach for all companies, businesses and even government agencies to adapt the latest technologies for being competitive in today's economy. No doubt about that. However, they key point in this approach is to utilize the latest or in other words the most modern technologies.  The same applies to legacy systems which denote the system applications that have been used for several years or from the beginning of the enterprise. Technology has advanced a lot and continues to do so each day.

Want a clearer picture than abbreviations? Well, ERP stands for Advantages of ERP Systems for the Retail Sector "Enterprise Resource Planning" and combines all the software you use throughout your business into one single system. This unified system takes care of everything you need for your business from end-to-end.  Imagine not needing to use different software systems and train your staff to use each of them for your daily business activities.

Insurance; it is a term that is equally sought after as well as loathed by millions across the world today. Actually, Insurance is about trust and security. Customers invest regular amounts in each respective period of time, so that they will be secure in case of any unexpected event or loss.

The enormous software company, Microsft has recently announced that it is open soucing the entire .NET framework, a new initiative by the world leader in technology. Microsoft seems to believe that open-source model of software development is the next big thing in the tech world. Microsoft's open-sourcing of server-side .Net technologies is a big step for the proprietary desktop software legend. However many feel that .Net still has a long way to go in order to catch up with open source Java.

We've witnessed some very bizarre tech corporate acquisitions over the past couple of years or so, particularly when it comes to Internet companies. Who would have foreseen a company like Google buy a wind energy company or a company such as News Corp. buy MySpace. But it's really hard to predict if any of these puzzling acquisitions might actually pay off in the long run.

Even the mortgage industry has been influenced by advancements in technology. In response, the entire industry has changed its course of action. These changes are visible in mortgage businesses of any size and in any region, yet technology keeps evolving and so does its impact on these businesses. There are different technological trends each year and 2018 isn?t going to be any different.

Two of the expected technological trends in the mortgage industry are:

Data Science, Data Analytics and Artificial Intelligence have already provided new capabilities to various industries including B2B or B2C, sales, distribution, manufacturing, and logistics.  The impact and usage are only going to increase even more in 2020 and in near future. More companies will begin to explore and implement automated machine learning pipelines which are important elements of data science platforms. Daily processes such as data preparation, feature engineering, and modeling will get additionally augmented by tools that help automate these steps.

The concept is spreading rapidly across industries. Business Intelligence (BI) can be defined as a group of processes, architectures, and technologies which convert raw data into meaningful information.  That is, Business Intelligence is not one process, technology or department. It is a package of software and services that transform data gathered from various sources into intelligent activities.  Business Intelligence is a complex topic that involves several processes.

The term digital transformation has more implications than computers or software applications. It is also about the mentality. For example, traditional banking involves the human recording of data as well as the storage and maintenance of massive inputs in various paper files. Such data may be stored in computers or official systems these days, but that is just one part or the beginning of digital transformation.

Cloud computing also known as cloud storage is the availability of data, technology along with computing power on a storage server over the internet. That is, cloud computing is the delivery of computing services such as storage, databases, communications, software, analytics, and intelligence, on the web.