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October 23, 2014

How Fast Food Is Learning About Billions of Customers

Posted by Amitabh Mudaliar (View Profile | View All Posts) at 5:04 AM



Fast food apps growing in popularity [Source: http://www.youtube.com/watch?v=W_D_F0MiPbM]

Call it the hyper-consumerization of the enterprise.

If you don't think we're in the midst of a consumer-focused boom, then consider what the fast food giant McDonald's is reported to be testing in certain markets. No, it's not a new sandwich - it's a new app.

If Mickey Dee's does indeed roll out this app after its initial test phase, I think we could be entering an entirely new era in which fast and consumer-friendly apps radically transform the customer experience. I am completely fascinated by a McDonald's app because we're not talking about a staid and conservative department store that is using apps to attract a new generation of customers. It's a global fast food enterprise that already excels in the marketing, distribution, and sales of its fast food products.

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October 21, 2014

Insurance Companies Learn That Leaner Is Better

Posted by Pankaj Kulkarni (View Profile | View All Posts) at 6:55 AM



Learning to leverage data in the insurance industry [Source: http://www.youtube.com/watch?v=_7ECOyxNMvI]

I don't know about you, but the recent news that an eminent French academic has won the 2014 Nobel Prize in economics reminded me of the theory of so-called 'perfect competition.' One thing you learn upon getting a job in the real world is that perfect competition is hard to find.

In fact, that's one of the reasons Jean Tirole won the latest Nobel in economics. He began performing some pretty amazing research after the onset of the global economic crisis that showed how innovation is stifled in many industries that are dominated by a few large companies. Instead of there existing perfect competition between companies, the very biggest enterprises tend to set prices (simply because they can), sit back, and bask in the glory of a lack of any substantial competition.

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October 17, 2014

Sending Money Socially

Posted by Rajashekara V. Maiya (View Profile | View All Posts) at 10:08 AM



In France, Transferring Money With Tweets [Source: http://www.youtube.com/watch?v=jHPC_J2iqC4]

The power of the proverbial wake-up call. Some of us are lucky to receive them. They keep us nimble and always push ourselves and our organizations to improve. But there are those among us who are unlucky; they're the ones who don't receive wake-up calls. Remember the man who, more than 100 years ago, said the 'horseless carriage' wouldn't catch on because of all the petrol stations that would have to be built to serve them? Then there was the executive in the 1970s - a computer company CEO, no less - who said he could never see people keeping computers in their homes.

Today we received a couple of huge wake-up calls. The question is: who will heed them and who will ignore them? The call involves the fact that a French mega-bank, Groupe BPCE, is teaming up with Twitter to allow customers to transfer money via Tweets. And that's not all. Indian private sector lender Kotak Mahindra Bank (KMB) has launched a Facebook-based instant fund transfer service where money can be transferred to users' friends on social media network in real time and for free!

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