close
HighlightTech

Business struggle with jargon, reveals research

Epicor Software

Businesses professionals not familiar with technological terms, a research has revealed

Industry seems to be lacking an understanding of business related technical language, a research has found. This is despite the fact that these technologies have evolved years ago and are at advanced stages at present. Due to the fast changing technology, business professionals are unable to keep pace with key technologies and innovations affecting their sector and business. But business professionals are aware of the role of technology in driving business growth in their sector.

Technology has made rapid progress in the past few years and reached the levels of artificial intelligence (AI), digital twins, and conversational systems. But one in five business leaders in the UK admitted that they had heard about modern technology terms but not familiar with them. Some of these terms include big data and cloud software-as-a-service which is not known to the majority of business leaders.

Sales professionals all over the world struggle to keep up with technological terms but they know that they need to understand the technological jargon to promote their business as technology jargon is constantly changing and affecting their sector. Understanding of new technology is necessary to help organisations make critical decisions for the future. These are the findings by EpicorSoftware Corporation, a global provider of industry-specific enterprise software to promote business growth. The global survey of business decision makers and employees, which set out to understand the key drivers for business growth, has found a worrying lack of understanding around industry terminology in the UK.

Although, technologies such as applied AI, advanced machine learning, and intelligent things made the ‘Top 10 Strategic Technology Trends for 2017’ published by Gartner, UK users are even less comfortable with these terms than cloud and big data, Epicor research suggests. Around one-in-three are not familiar with the Internet of Things, 3D printing and machine learning, and many had never heard of them at all. The research found that 88 per cent of fast-growing businesses consider IT investment to be a high priority. Apart from this, almost half of businesses agree regarding the role of IT in meeting the challenges of the future and better performance.

Celia Fleischaker, executive vice president and chief marketing officer at Epicor Software, said:

“It appears that many businesses are convinced of the importance of technology investments—and many are reaping the rewards. Yet some are not fully aware of the latest technologies available to them, and it’s possible that the complex terminology and fast-changing landscape could be factors here.

“This is concerning because if business leaders cannot tell their AI from their IoT, or see the potential of a smart and connected factory, they may hold back from investing in the latest technologies.

“Businesses are tired of being baffled by buzzwords and jargon and we believe that it is time vendors and the technology community did more to engage with distributors, manufacturers or retailers in their own language. Talking about the business benefits that new technology can bring will help organisations to make critical decisions for the future.”

John Preiditsch, president at Six S Partners Inc. said,

“The customers we work with on a day-to-day basis are more concerned with the business outcomes of the technology we sell, rather than the precise details of the technology itself. Businesses need to justify every investment in new technology, and talking in jargon or technical terms can put decision makers off and make that justification challenging when there is a disparity over language.

“During my last 30 years in the ERP market, 10 years as an Epicor value-added ERP reseller partner I’ve found that talking the language of business and about the impact and payback of the investment, rather than the language of AI, IoT or technical terminology, is much more effective when it comes to helping our customers fully embrace and envision the use of the latest technologies.”

Risk Warning:

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Paul

The author Paul