In 2020, we’ve experienced the largest digital disruptor society has seen yet. Shifts made by the entertainment, music, and telecom industries in the early 2000s to welcome early digital were a mere precursor to how we’re having to change to meet the moment and scale for the future. We are changing, and we’re doing it quickly. It’s not the new normal; it’s the next smart evolution.
Whether it’s lifestyle, retail, education, or the sciences, transformation is necessary and there are positive opportunities emerging in the how of it all.
As we discussed previously, the use of smart devices and technology is on the rise. The digital landscape is generating more user data than ever. We’re seeing emerging gateways to improved customer experience (CX), data and analytics, technologies, and how we live our lives.
It all makes sense, because a successful transformation has dependency on three major areas: Data, CX, and machine learning.
Remote education is an example of the value of experience and data. Unesco continually tracks educational impacts, reporting 1.9 billion students worldwide have been impacted by the COVID-19 pandemic. Like the remote workforce, educators are having to learn how to ensure learning is not disrupted as curriculum and facilitation move online. Advancements in AI, virtual reality, and 3D printing have gone into overdrive. Privacy, speed, and some customization continue to be critical as education migrates to a cloud-culture.
Privacy remains a concern across other industries as well. SaaS companies and others grapple between what necessary privacy measures are and what the consumer is comfortable with. We’re in a time where social science research and data privacy policies are converging, and not everyone is well-versed in both, yet.
American Family Insurance understands the importance of machine learning in their property and casualty insurance sector – a category that’s highly competitive. They’re investing millions into a new start-up, Arturo, aimed at deep and predictive data measurements from the abundance of customer data, focusing on finding and amplifying patterns to better engage with the P&C consumers, offering more enticing coverage options.
Current innovations in storage, security, communication, analytics, and even visualization, are outputting more data with a deeper look into behaviors than even months ago. The consumer is providing more personalized data and information, more often, and painting a comprehensive portrait of how they’re engaging with brands, when, and how often.
Increased and enhanced data can guide marketers to more acute and more actionable outcomes. Honed personalization leads to engaging consumers in more intelligent ways. Brands have an opportunity to elevate CX to new levels.
New analytics are driving the retail scoreboards used to map industries experiencing visits and economic and commercial impacts, all of which help identify retailer rebounds.
Nielsen is already tracking changes in consumer shopping behavior in ways that could shape future buying patterns and habits. CPG shoppers are trending to consider health, hygiene, and preparedness as top-of-mind considerations.
It’s already starting, as 27% of companies are prioritizing improvements to their CX intelligence and data efforts in the aftermath of the early 2020 effects on brands, according to an International Data Corporation (IDC) 2020 finding. In fact, a 2019 Gartner report indicates that by 2023 30% of consumer service organizations will be using AI-enabled continuous intelligence mechanisms.
There are new and exciting digital connections happening in a more physically distant culture. We’re seeing improved tech, new awareness, and advanced data. We’re evolving into highly connected communities in the clouds, giving insight into what matters and what is laying new pavement for our next transformation.
Consumers can look forward to more personalized and meaningful experiences online. Brands can elevate for a consumer whose habits and values have changed as lifestyles have had to shift.
Our new era has companies holding a golden ticket to better target, inspire, and create value to new and loyal customers with expanded AI, CX, and insights. Data and security remain our friends as we progress.
Yes, transformation is a good thing.