The trends of digital transformation
The topic of digitization is currently driving many companies and there are many ideas and approaches on how to pick up the trends of digital transformation to use them sensibly and valuably for the own company. Here are a few of the current core topics which are important for the near future …
Predictive Analytics
As part of digital transformation, every new digital business model also has a significant role in collecting data – either from machines or people. The statistical and mathematical methods that are possible today not only allow such data to be collected, but also allow analyzes that show relationships and forecasts. Thus, one can not only analyze the actual state but also determine predictions and trends – which in turn can contribute to the improvement of the service and the products.
Predictive Analytics is a subset of Business Intelligence (BI) and Business Analytics (BA). Other buzzwords often encountered in this context are predictive maintenance, smart customer data or regression analysis.
Multi – (Omni-) Channel Marketing
Today’s customer is inquisitive, hungry for information, usually very price sensitive and of course mobile. In addition, he usually uses multiple channels to connect with a company and therefore expects an almost seamless transition between the channels and between the offline and online worlds. But this also means for the companies to be active at all consumer touchpoints.
In order to reach the customer in the way that he prefers and to offer him the right offer at the right time, an overall view of the customer as well as matching marketing that is geared to the various channels is required.
Customer Journey
The customer has many ways these days – named Customer Touchpoints – to get to his (purchase) goal. It is important for the companies to know these ways and the “journey” of the customer along these paths. If he knows, he can, of course, encourage the user to buy with custom-made and situation-specific offers.
This also introduces completely new challenges to the topic of CRM, as all relevant customer master data must be consolidated and the support of the various touchpoints integrated.
Creating such high-quality customer master data is more difficult than ever for companies in times of big data: a 360 ° view is hardly possible without the corresponding digital support.
Data Governance
Data is the asset that makes any digital business strategy possible in the first place. As a business asset and the basis of any business strategy, data and its quality should be highly valued in your business.
In order for your data to be transformed into assets they must be organized, controlled, evaluated and monitored. The superordinate data governance organizes and controls these processes. For this purpose tasks, roles and responsibilities are defined and the knowledge about business processes is brought together. Based on this, guidelines for data use and care are created and enforced.
Location Intelligence
The usability of mobile apps such as Google Maps and others has brought the topic geospatial clearly in the foreground again.
Customer information enriched with geodata enables completely new insights through analysis and visualization into structures and trends. Location-based information in the field of customer data and thus spatial representation open enormous potential.
In a digitized world, the subject of location intelligence is a central approach because mobile internet makes it relatively easy to capture and collect this data. These data can significantly improve the impact of social media, facilitate planning and helps to analyze customer behavior.
Particularly interesting is the so-called geofencing, which allows you to stake out certain areas digitally to determine who is in these areas. Such localization and movement data can be used to create and operate completely new innovative customer experience management processes.
Compliance Management
By definition, compliance includes all precautions that must be taken to ensure that employees and officers of a company comply with all laws, policies, and regulations while acting for the company. Compliance is an important building block for the standard-compliant behavior of a company.
Of course, Big Data approach and the rapidly growing data pots that are associated with it are attracting more and more legal and regulatory requirements. In addition, digitization inevitably entails further globalization so that the requirements for data protection and compliance often have to be considered not only nationally, but at least European if not international. The regular comparison of business partner data with national and international legislation is therefore indispensable for every company. Deficiencies in these areas exclude companies from customers and markets or can lead to significant financial losses, loss of image and legal concomitants.
