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Introduction

The rise in emerging digital technologies such as companion apps, disruptive software, beacons, the Internet of Things, and wearables is transforming the way consumers and enterprises interact.

Highlights

  • Industries are becoming increasingly consumerized due to the increased access to sophisticated data (e.g. finance, healthcare, education) from a variety of data streams.
  • The advent of augmented data enables customer service to provide proactive customer care and personalized customer experiences.
  • Marketing and sales can more easily engage with customers at the key moments along their buying journeys. Furthermore, with precise data about how, where, and when customers use products, R&D can make key improvements to products and services.

Features and Benefits

  • Identifies the efficacy and reach of different devices and applications used for consumer-data monitoring.
  • Assesses the opportunities enterprises have to customize services and products with a more complete profile of the consumer.
  • Assesses the role IoT data availability will have on making improvements in marketing, sales, and in R&D investment direction.
  • Identifies data ethics and management practices that will become necessary across consumer-facing industries.
  • Analyzes the autonomizing effect increasingly sophisticated data availability has on consumer behavior.

Key questions answered

  • How are industries becoming more consumerized?
  • What avenues of capitalization can enterprises pursue with this influx of consumer data?
  • How can services and products be customized with an augmented consumer data profile?
  • What are the behavior modification trends (e.g. financial, health/wellness, and educational) among consumers with increases in data availability?
  • What are some examples of enterprise adjustment based on IoT data aggregation?

Table of contents

Summary

  • Catalyst
  • Ovum view
  • Key messages

Recommendations

  • Recommendations for enterprises
  • Recommendations for vendors

The autonomous consumer

  • Access to meaningful data allows consumers to modify their behaviors
  • Increasingly sophisticated consumer technology leads to partial consumerization of industries through automation and access

The enterprise advantage

  • Customer care provides proactive, personalized experiences
  • Marketing and sales can readily respond to key moments
  • R&D can make precise product improvements
  • Conclusion

Appendix

  • Methodology
  • Further reading
  • Author

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