The
retail business is on the onset of a new era. While customers are already
experiencing the change through Flipkarts and Snapdeals in India, traditional
retailers have also realized the worth of technologies such as mobile, IoT and
big data for business transformation. They are seriously looking at IoT and big
data solutions in an attempt to transform the customer experience. This is
already happening in the US and Europe to an extent. Now Indian retailers are
also gearing up for the change. In fact Indian retailers are setting new
trends.
Today
at the Adobe Forum, Umang Bedi, India MD, Adobe stressed on the need to
digitally transform businesses. Other speakers also stressed on the need to use
IoT and digital marketing tools to offer the best experiences. The modern retail
space is for businesses which are digital
frontrunners with a clear strategy and competency to harness the business
value out of BigData. By just being a social strategist or traditionalist,
businesses would get lost in the ever deepening vortex of butterfly effects
creating chaos on data traffic and network usage.
So
with Internet of Connected Things providing the opportunity to look at
customers as a “Quantified Self”, retail digital pacesetters would avail
actionable insights from data out of different aspects of a customer’s daily
life in terms of inputs (e.g. food
consumed, quality of surrounding air), states (e.g. mood, arousal, blood oxygen
levels), and performance (mental and physical), geospatial information,
conversation through their network etc… This enables better relationship
building with your customers and put such retail businesses in their early
innings of what can be dubbed as SoLoMoMe
(Social + Local + Mobile + Personalized).
From a retail perspective
2015 will be the year for those retail digital pacesetters to use IPV6’s role
in IoT to help achieving that SMART segmentation.
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