What is Business Technology?

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If one were to over-simplify things, it could be said that our world revolves around money and science, or better put, around business and science. These are the fields that bring forth the most changes in our society, at least those changes which are visible and touch all of us sooner or later. But what happens when these two are combined? Do you get a superpower capable of destruction and creation both? It is good to mix the two, or should it be avoided? Plenty arguments can be found both against and for this, but the truth is evolution cannot be stopped, and a merger can already be observed in many instances. For example, corporations which fund scientists offer them the opportunity to work in ideal conditions and create something truly worthwhile; however, anything they produce becomes the property of that corporation, which can then use it anyway they see fit.

What we want to focus on in this article however is business technology, a less potentially harmful field, but one which allows companies and corporations to make more money, or to know when to avoid risks. That being said, business technology is the collaboration between business strategy and technology; this business practice was the normal result of the evolution of information technology. Thus, hardware and software are used not only as support systems and tools, but as strategic development tools as well.

In that respect, business technology is merely an emerging field, but more and more interested parties start to use it every day. The term is also relatively new, and it was only coined in 2007 by John R. Rymer, a researcher for Forrester Research; the term appears for the first time in an article he wrote in the Forrester editions. The new field has so far been most successfully used by IT companies and organizations, where the two elements of business and technology combine most easily. The practice is used by business technologists, who need to have proper knowledge of business strategy, but also of the ways in which contemporary technology can implement that business strategy. Ideally, this technology could help professionals achieve better and more certain results from their business strategies, and thus eliminating some of the risks.

Another important term here is business technology management, whose aim is to converge decision-making in both technology and business, at every level of decision-making that takes place in an organization. Information has always been important in business, but with this new field, that information gets to be used at a whole new level of accuracy, and it may lead to the creation of entirely new products and concepts as well.

January 2022