Pursuit of optimal customer experience is driving digital transformation initiatives across all industries because technology is allowing customers to be in direct control of their interactions with us. From the ease of multi-channel digital connectivity to immediacy in service, customers expect frictionless and hyper-personalized experiences that embody simplicity, Do-it-Yourself, and social. Likes of Amazon, Apple, Google, and Facebook are also not making it any easier by setting standards that customers expect every business to match.
All good things come to an end. 2014 was the first year when the total global revenue of Telcos had a marginally negative growth. Was it the beginning of the end? Will Telcos, the way we know them, not last? My answer is a resounding yes, but their fate hinges on the extent of Digital Transformation they undertake; here is why:
While we were still working on mastering Social, Mobile, Analytics, and Cloud (SMAC), Digital Transformation aka (DX) itself has evolved into DX 2.0 representing the priority stack - Internet of Things, Data, Design Thinking, and Artificial Intelligence (IDDA).
Its 1975, a customer walks into a Nordstrom store in Anchorage, Alaska to return a set of tires. The clerk, saw the price on the side of the tires, reached into the cash register, and handed the man $145.
Believe it or not, Gen-Y (also known as Millennials) is already the largest generation in the Canadian workforce and I’m sure so is the case in most countries. They were being ignored for their lack of income and spending power. However, it has become glaringly obvious that Gen-Y is a gigantic population, holding significantly powerful positions in the industry, and growing their spending power.
Pursuit of optimal customer experience is driving digital transformation initiatives; with technology allowing customers to be in direct control of their interactions with businesses. From the ease of multi-channel digital connectivity to immediacy in service, the customers are demanding seamless and hyper-personalized experiences that embody simplicity, Do-it-Yourself, and social.
Building on the millions of years of evolution, unsurprisingly we humans prefer the use of voice to interact. However, for decades it was touted as a technology which “wasn’t quite there yet” to be used with machines. In the interim, nose-to-the-phone model of personal computing became the defacto standard and no one really questioned it. Things have really begun to change in the past few years as Apple Siri, Amazon Echo and Google Talk gained momentum and their QoE is a welcome relief.
With every passing day, we get to hear more and more cities getting smarter. Be it in the Western world, the Asian - South Asian countries, or in the Middle Eastern countries, cities are getting smarter with a technology makeover to doll up in the most efficient way.
Every city has a distinct culture, vibe and feel. As they commonly say, “People may forget what you say, but they’ll never forget how you made them feel.” It could not be truer for Cities. From the romantic streets of Paris, the unabashed excess of Vegas to the quintessentially wealthy NY Fifth avenue- they all leave a mark behind. However, population density of most of these urban cities is reaching unprecedented levels, straining the infrastructure and providing the citizens sub-optimal experiences. In an attempt to alleviate the pain, city councillors (the Urban Management team) are turning to technology (the Smart City enablers) to improve efficiency, productivity, lower costs, and set a precedent.
The Telecom, Media, and Technology (TMT) industry as a whole is at an inflection point that is perhaps more significant than any other junction in North American history. The pace of disruption is at unprecedented levels; “Winner takes all” is becoming the norm and the status quo is being challenged across the board. To help address the challenges and provide guidance on growth opportunities, mobileLIVE’s TMT team has put together a list of the top 10 TMT predictions.