App Development for Entrepreneurs: Tech Buzzwords vs Business Goals

Technology is the fastest developing field today. The world now is much different from the one that existed fifty years ago and today we take a lot of things for granted that were wonders for people in the past. We are already used to new products and services constantly emerging in the market so much so that we calmly integrate them into our lives. This environment makes inventions fast and sometimes very bold.

Popular names can quickly become buzzwords. Everyone talks about them, everyone wants to have them, and entrepreneurs begin to actively adopt them. However, is it always good to follow everything new and instantly use it in your business, even if there are more affordable options that can be equally helpful in the pursuit of your goals? What is better: to go the cheaper but still efficient route, or to choose a more expensive but very popular solution? Let’s try to find out.

Buzzword: Good or Bad?

What does this word mean? If we consult the Merriam-Webster dictionary, we’ll see the following definition for buzzword: “an important-sounding, usually technical, word or phrase often of little meaning used chiefly to impress laymen” or “a voguish word or phrase”.

It’s a pity, but a lot of new technology terms turn into tech buzzwords. When positively accepted by society, these tech buzzwords often become fair game for companies seeking to receive more revenue and people trying to use them to seem more trendy. At first sight, there is nothing wrong with this, but as you dig deeper you’ll notice the consequences can be both good and bad.

Where there is demand, there needs to be supply. This process is the basis for market relations that influence economic growth. Great, isn’t it? On the other hand, demand is always supported by marketers who will keep telling you how cool it is to have this or that. If you are easily sold on buzzwords, you run the risk of making unreasonable decisions and wasting your time and money on unnecessary things.

Is It All About Trends?

Actually, it is. People are more inclined to follow trends and join the mainstream as opposed to the alternative or minority. This is why trends can quickly become daily buzzwords that everyone hears and uses.

Let’s move to the topic from the perspective of app development. Annually, we predict and review the trends of the year to better understand what’s going on in the industry, what direction to move in, and what to expect from potential and existing clients. Today, the “buzziest” information technology buzzwords are:

• Artificial Intelligence
• Data Science
• Big Data
• Blockchain
• Machine Learning
• IoT (Internet of Things)
• VR (Virtual Reality)
• AR (Augmented Reality)

If you take any of these current buzzwords in technology and google how your business can benefit from them, you’ll likely find many articles on the web. They may tell you how good and progressive it is to leverage these trends in your business in order to stay up-to-date. None of this is untrue, of course, and you can certainly find a lot of advantages in every case. Nevertheless, every business cares about funds that need to be invested and the returns it is possible to receive from them. If your goals and objectives can be achieved with little pain, with less money, but with the effect desired, why go a more difficult route? Try a simpler option first to get what you want. Then, if you feel that the system must be improved or upgraded and it’s possible to do it without any loss to your business, try another affordable solution.

It’s important to understand that knowing about trends is different from following them. You certainly need to watch them, keep track of technological development, and understand the market, but all information should be filtered and analyzed.

A trend is a notion that should be treated differently depending on the industry. For example, trends in fashion are different from trends in business. You can stop wearing clothes that are not trendy anymore and may not have cost you much, but what about an app you invested a great sum of money in to build? Businesses are not usually created to last only one or two seasons, they are intended to exist for much longer. Do not chase every new technology buzzword; it may bring you more troubles than gains.

Read about a couple of practical examples in the full article on MLSDev blog.