Take your business where your digital consumers are - on the cloud! Part2
In my previous blog, I spoke about how digitization is taking place these days in all realms with cloud. Enterprises have started embracing the new phenomenon of "consumerization of enterprises" for business. In this blog, I will share some thoughts on how- cloud and big data can be two pillars for an organizational strategy.
My essential tenet is that Cloud and Big Data are interdependent on each other - as more and more information resides on Cloud, it will become easier to access and analyse information, providing valuable business intelligence for companies. In fact, Gartner predicts that 35% of customer content will reside on the Cloud by 2016, up from 11% in 2011 (1).
Customers are leveraging this easy and instant access to rich data to make smarter decisions. Many in-store shoppers tend to use their mobile devices to compare product prices on online channels such as Amazon or eBay. Retailers who have the capacity to track this action can immediately offer customers a better package/ deal, thereby delighting the customer and closing the sale instantly.
To achieve such pervasive intelligence and instant actionable insights, one should be able to sift through large amounts of data pertaining to each customer in quick time. Businesses will need to verify whether the information they gather about their customers is accurate. Coupled with all this, there are large scale technology related changes, and costs, that need to be considered. And this elasticity of compute at an affordable cost is quite possible when you leverage the cloud effectively.
Information that resides across multiple locations can be collated, accessed, analysed, and verified for accuracy at much lower costs on the Cloud. Further, through Cloud-based media, brands can track consumer opinion as well as follow critical consumer behaviour actions/ changes. Take for example the manufacturing industry. Cloud can drive shorter product lifecycles and faster time-to-market as well as enhance their product design, development and marketing campaigns (3).
In my next blog, I will talk about how consumer responsiveness can be accelerated by cloud.