So here we are in a world where the Data is the new oxygen. We are absorbing it from all quarters, right from the newspaper we pick up early morning to the hi-tech fitness band that records our sleep quality every night. From social news feeds to personal banking, from the mobile phone to the smart watch, everyone around is talking to us, gathering some or the other stats about our existence.
An automated car that knows the exact seat position with the correct recline angle, the smart homes that self-regulate the temperatures and automate the routine functions of a household, the smart shopping app that replenishes essentials at fixed intervals are all classic examples of how you’ve let yourself out in the world.
Imagine this: Your family doctor has your latest health data stored virtually (cloud, for instance). When you take up, say a gym membership, the gym trainer connects with this online, real-time, “your very own” health stats to set your fitness goals. Your gym trainer, your family Doc and you too, are constantly updating, evaluating and analyzing this commonly available data at your fingertips. So here’s a consumer, who’s being monitored, real-time through an extremely personalized experience by two entities committed to your personal goals as much as you are. With a little context added to a lot of content, here’s what a real life scenario looks like for anybody like you and me!
The difference that these apps or services are making to our lives is not in what we tell them but what they do of it. It is interesting to note the depth of smart personalization that can be provided to customer interactions for everything from setting health goals, to giving shopping recommendations, to buying insurance! While content helps you get your answers to a pool of questions, context is what leads to newer questions that reveal customer psyche and drive you towards a customer-centric business model.
However, in the world of Big Data, there's an information onslaught that renders the latest bit of news obsolete. How then does a business keep itself updated about the customers changing behavior and preferences? Here’s where Data Analytics play the critical role of processing data and picking up crucial bits of patterns and tendencies that create a thoroughly customized, impressionable experience for a user. The challenge lies in extracting these real insights and applying them to business profitability.
A customized online travel portal (intelligently based on income levels) OR an online shopping portal with personalized shopping sections (based on lifestyle choices) OR a personal banking site offering stock recommendations (based on your closing balances) are examples of ideal customer experiences. Whether online or in-store, the question is, are you able to delight or pleasantly surprise your users with the right content.
Here’s a video showing how the right context can potentially alter the quality of life.