How the Fast Pace of Technology Can Be An Advantage For You

June 1st, 2017

fast pace technology

By Eric Frisch, 10x Management Writer

Intel co-founder Gordon Moore estimated in 1965 that computer power would double every 24 months for the foreseeable future. That estimate was later updated by Intel executive David House, who stated that chips inside computers would double in performance every 18 months. There’s a very technical reason for this, which has to do with the amount and the speed of transistors that can fit on a computer chip. We are always finding ways to make processing chips faster and smaller.

It also speaks to the real necessity of staying up to date on technology. The fast pace of change of technology is one of the reasons that new lines of laptops, smartphones, mobile gadgets and tablets are flying off the shelves and constantly rolling over in the marketplace. The iPhone or Android that you bought three years ago from Verizon is an antique. A phone without portrait mode? Forget about it. Adapt or get left behind.

The same principle that applies to gadgets doubling in performance every 18 months applies to many other forms of technology, including coding, building apps, websites, databases, and cybersecurity. Once you build a product, you must consistently update it in order to remain relevant. It’s one of the reasons why at 10x Management, we encourage our customers to perform technical audits of their systems at least once every two years. Understanding how technology is changing and the direction it’s heading in is crucial to the success of your business. If your site runs on Flash and everyone has switched over to MySQL, that is information you need to know to succeed.

One of the major problems with constantly staying up-to-date on technology is the manpower involved. If your company has a small dedicated team, then demanding that all programs are current is a costly endeavor. If you are unsure about how to maintain your competitive edge in technology, consider hiring high quality technical consultants. They are efficient, do not require benefits, and can work at an hourly rate to ensure you don’t fall behind the competition. Once your systems are updated, make a reminder to circle back within one or two years to ensure you are still performing at the peak of your ability.

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