October 26, 2015 | Written by: Matthew Fitter
Categorized: C-Suite | Events
This week I’m in Las Vegas, for the very first time, covering IBM Insight on a variety of topics. In the midst of navigating the enormous Mandalay Bay and hearing from some of IBM’s most knowledgeable discuss emerging technologies, there seems to be a ton of IT happening behind the scenes that consumers don’t even know exist.
Ultimately, the different products being developed are helping deliver a more personalized experience for the customer. The metrics being collected help the business understand why someone bought their item and what purchasing patterns will result from the sale. Just as our local diner knows our go-to order or an online music station knows an artist we may like, customization will be getting a lot more intimate. These types of advances however, won’t start with always ordering eggs benedict, but with location services, social listening and purchasing habits. There’s no doubt that the customer journey has dramatically changed, but data is the way to realign this cycle.
Putting information into context can be the separating factor between those companies that connect with their consumer base and those who fail to establish that bond. In the current insight economy, businesses are finding new and exciting ways to reinvent their core business initiatives and become disruptors themselves.
“Transformation is driving the evolution and creation of new insights,” said Glenn Finch, Global Leader, Big Data & Analytics, IBM. The insights that result from the mass amount of data are all directed back to the customer in an ultra-personal touch.
Raj Singh, CEO of Go Moment, discussed his adoption of Watson Analytics into his hospitality business. “Hotels can now sense when you’re having a bad experience and step right in,” said Singh. With wait time tracking and survey reports, hotels can personalize communication with the guest. Companies can develop thousands of ways to interact with customers even with simply changing email subject lines according to consumer data. As the Internet of Things continues to relay real-time reports, your cell phone may turn itself to vibrate based on behavioral trends.
Whether the idea of companies having access to your data worries you, I believe the outcomes will be worth the sacrifice. Tomorrow, I will be focusing on transitioning into the cognitive era.