4 Trend Predictions Every Executive Needs To Be Ready For In 2022

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Predicting future trends in technology is not always a simple task. Just when you think the course that society is heading down looks clear, a global pandemic strikes from out of nowhere and radically changes everybody’s priorities.

Nevertheless, forecasting the direction we are heading in is an essential part of planning for the future. And while we may not always get things completely right, in 2022 our ability to predict is bolstered by everything we’ve learned over two years of unprecedented change. At the start of the pandemic, few businesses could honestly claim to understand how well they could withstand two years’ of global lockdowns, remote working, the shutting down of international travel and a “great resignation ”. Now they know!

This is why this year’s crop of predictions is particularly valuable. Today’s batch comes from cloud analytics specialists Splunk, which has identified four trends that will be particularly transformative during 2022. These predictions come from its own leaders as well as key experts in related fields, and are worth paying attention to for anyone hoping to drive change through digital transformation over the next twelve months.

Prediction 1: Every organisation will need a new approach to talent

Covid has changed the way employees think about work in a number of significant ways. A long, dull daily commute is time that could be spent more productively. This could be quality time with children before they head to school, preparing a proper nourishing breakfast, exercise, or possibly even catching up on work!

Skilled, experienced employees are more aware than ever that it’s now within their power to take control of their careers, and push for a better work-life balance. If they don’t think that a particular company culture suits the way they want to live and work, there are plenty of others that are likely to be a better fit – and they are likely to be hiring!

Likewise, as well as salary, employees will increasingly consider how a business strives to meet their needs in other areas such as flexibility, wellness and mental health. While it often seems distasteful to suggest that good things might come out of something as devastating and deadly as a worldwide pandemic, in my experience, it has indeed had the effect of encouraging companies to be more considerate of their employees’ needs.

As Kirsten Robinson, Splunk’s chief people officer, puts it, “We see a great opportunity to reimagine the changing nature of how and where work gets done, to create a more productive and inclusive workplace and maintain a healthy, connected, empathetic and sustainable workforce.”

Prediction 2: As businesses find their (post?) pandemic balance, expect an M&A bonanza

Many companies that were already invested in their journey of digital transformation, and were able to adapt quickly and effectively, thrived during the pandemic. These companies – often digital service providers, and those with products delivered primarily through online channels – experienced rapid growth. In 2022, they possibly find themselves in stronger and healthier form than ever, and looking to start making acquisitions.

On the other hand, it can’t be ignored that many businesses didn’t fare so well. This includes those reliant on attracting public footfall, or in industries that were hit by closures and lockdowns. Many of these businesses may still have products and services that people want, and even viable business models. But two years of stunted growth and reduced cashflow is often simply not survivable. This sets the scene for a wave of consolidation, predicts Splunk.

“Companies that invested aggressively during the pandemic have an advantage … expect a dramatic round of M&A ahead,” says Chris Grisanti, Splunk’s vice president of corporate strategy.

This would certainly be a continuation of a trend we saw evolving during the pandemic – according to PwC, 2021 saw substantially more M&A deals than any year on record, topping 62,000 – an increase of 24% on 2020.

Prediction 3: Edge computing will have big buzz in 2022 – and will live up to the hype

We’ve been predicting that big things will happen at the edge for some time now, but Splunk feels that 2022 will see it really take off. Edge means processing data closer to the point where it originates, driving increased speeds and lowering bandwidth usage and cost.

As devices and “things” get smarter it makes sense to understand data at the point where it needs to be acted on. We don’t want an autonomous car to have to send camera data back to the cloud to know that it’s about to crash into something, and it should perform an emergency stop. And for use cases where privacy is an issue – such as facial recognition – edge computing provides an additional layer of peace-of-mind, knowing that incidental data that isn’t necessary for the task at hand isn’t collected and transferred outside of the device.

But aside from high-tech industry and automation, edge computing is all around us in everyday tech, too, and leveraging this existing network can be the key to unlocking new treasure troves of value. “As a buzzword, edge computing tends to refer to cutting-edge industrial uses,” says Garth Fort, Splunk’s chief product officer.

“But the mainstream edge has been here for a long time: mobile devices. That’s the aspect of edge that every organisation needs to be thinking about.”

Prediction: Customer experience is the defining factor in 2022

Last but not least, Splunk’s 2022 predictions highlight the growing importance that businesses are attributing to the experience they provide to their customers. This trend is wholly customer-driven with survey after survey reporting that customers are increasingly placing value on the entire experience chain that comes with buying and using products and services. One well-cited statistic , again from PwC, states that, worldwide, 32% of customers are willing to turn their backs for life on a brand they were previously loyal to, following just one bad experience.

Customer experience covers the enjoyment and pain-points that we experience as we shop for, purchase, prepare and use products and services, as well as if we have to return them, or engage with after-sales support channels for servicing or repairs. In this respect it encompasses functions such as QA, as quality plays a role in our ability to enjoy using a product, but it’s also much wider-reaching. It includes the design and ease-of-use of e-commerce channels and the friendliness and knowledgeability of sales and customer service agents.

As a metric it can certainly be hard to quantify, but as with the other measure of success, Splunk’s research found that businesses that make best use of data are also most likely to provide great customer experience.

“You need more data to do a better job of customer service, of managing supply chains and demand, and you need to be really flexible, meaning you can make decisions at the last moment,” says Splunk Chief Strategy Officer Ammar Maraqa.

If you could like to download the PDF of the Executive Predictions 2022, they are available here in English and here in German .?

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About Bernard Marr

Bernard Marr is a world-renowned futurist, influencer and thought leader in the field of business and technology. He is the author of 20 best-selling books, writes a regular column for Forbes and advises and coaches many of the world’s best-known organisations. He has over 2 million social media followers, over 1 million newsletter subscribers and was ranked by LinkedIn as one of the top 5 business influencers in the world and the No 1 influencer in the UK.