Now CIOs are looking for ways to access customer’s personal information like birthdays, anniversary dates, or other important events in their lives to be able to provide better services. More predominantly, they are concerned in obtaining this information in real-time like when a customer approaches a point of sale or a partner in a dealership. They look for ways to bring more customized consumer engagement mechanisms that could pull out appropriate and helpful insights from various resources of consumer data to empower the sales team and make extremely personalized and convincing offers to the consumer.
Fundamentally, it symbolizes an on-going paradigm shift in thought process from conventional methods of running a business to taking advantage of powerful digital channels. And the key cause for this is the growth of the digital customer driven by the big bang of Cloud. Cloud has begun driving consumerization of enterprises.
High-speed connectivity and information transparency of online and mobile platforms have produced a new class of Gen Next consumers that are well-connected through several gadgets and technologies, communicative and prepared to connect with an attitude. This varying consumer demographic means that companies have to discover new methods of getting their attention and gaining their faith.
Nowadays, consumers are contributing and sharing huge amounts of information, a high volume of which exists on the Cloud, via social media platforms and several other communication platforms. In 2012 only, customer-produced content accounted for 68% of data accessible through several devices such as TV, mobiles, tablets, etc. and channels like social media, videos, texts, etc. A great deal of this data is tremendously precious if we can obtain and analyze it. For the matter of fact, by 2020, 33% of the data that exists in this digital world will have key analytical value, compared to today’s where 25% of the data has significant analytical worth. The amount of data is growing at the rate of 40% year on year.
These days, digitization is taking place in all area of business with cloud. Companies have begun accepting the new occurrence of enterprise consumerization for business. Cloud and big data will be two most important aspects of while making organizational policy and strategy. Cloud and Big Data are co-dependent on each other. As more and more data exists on Cloud, it will become simpler to access and analyze data, offering key business insight for organizations. Gartner predicts by 2016, 35% of consumer content will be on the Cloud.
Consumers are taking advantage of the simple and instantaneous availability of rich information and data to make clever decisions. A lot of in-store purchasers inclined to use their mobile to evaluate product cost on e-commerce websites like online Amazon or eBay. Businesses who have the capability to follow this consumer movement can instantaneously offer consumers a better deal, thus amusing the shopper and making the sale immediately.
To pull off such comprehensive intelligence and instantaneous actionable insights, the company should be able to filter a large amount of information related to every consumer in rapid time. Companies will need to validate the accuracy of obtained data about their consumers. Along with all this, there is big size technology associated modification, and expenditure, that should be well thought-out. And this flexibility of computing at reasonable expenditure is fairly achievable when organizations efficiently take advantage of the cloud.
Data that resides throughout several locations can be gathered, accessed, analyzed, and confirmed for precision at the much lesser expense on the Cloud. Moreover, through a Cloud-based platform, businesses can follow customer view as well as track important changes in customer behavior. For instance, manufacturing industry, the cloud can drive smaller product lifecycles and quicker time-to-market as well as improve product design, development, and promotional events.
Cloud is also becoming a unique facilitator for enhancing reach and responsiveness to customers. Customers today insist a high responsiveness for their requirements. It is feasible only with features of cloud like on-demand scaling, agility, and flexibility. For example, companies use Cloud to run direct and indirect sales channels, providing them immediate visibility into market insights. The most noteworthy eye-opener is that the huge time and cost savings brought by cloud-based consumer service have generated high cloud acceptance levels within the industry.
It isn’t shocking that companies like Mercedes and BMW are spending in cloud technologies to precisely follow the digital footprints of consumers and revise contact information to keep in touch with them. They also manage car maintenance data even if they are not serviced at primary dealer networks. Important data such as customer awareness, loyalty and purchase patterns can be also tracked while analyzing markets to build customer-centered products.
In the end, businesses should fulfill or even go beyond the digital customer expectations to be able to achieve their business goal. It can be achieved through better and real-time analytics utilization to serve the digital consumer better all the time. Nothing can be more influential than taking advantage of customer behavior to customize products. Cloud provides an outstanding platform to achieve this and Big Data based analytics becomes the means to execute the same. Big Data simplifies huge information and data while cloud assists optimizing resources cost-effectively. Cloud has the power to smudge the lines of physical and online space by incorporating possible opportunities with existing information.
To summarize, by taking businesses to the cloud, companies enable themselves to be successful by bringing their business to the digital customer and distinguishing themselves in the industry.