Posted by Madhu Janardan (View Profile | View All Posts) at 5:16 AM
Can you predict the most popular menu items across upscale restaurants in New York, in the next quarter? Do you know how many fish fillets can be delivered by supplier X next week? Are your fleet maintenance engineers minimizing vehicle downtime by evaluating vehicle repair history and component replacement trends across equipment classes?
Digital technology has radically altered the market dynamics of the food industry. It now offers more choices and enhanced convenience to customers. It allows chefs to personalize the dining experience with insights into tastes and order history. Technology also helps restaurant owners foster customer loyalty by analyzing past behavior including visit patterns, spend on appetizers and beverages, and customer recommendations of a new main course to friends on social media. Most important, it offers real-time visibility into operations and ensures sustainability across functions -optimizes replenishment schedules, enables accurate forecasting to reduce wastage, and shrinks the carbon footprint.
Continue reading "Harvest Data. Make Money." »
Posted by Madhu Janardan (View Profile | View All Posts) at 3:22 AM
Today is Cyber Monday here in the US, and we are inundated with steals and deals. These range from lunches to gaming consoles, furniture to holidays. As the energy of the day takes over, it's not uncommon to have family and friends glued to their mobiles, filling up their carts with stuff they have been coveting for weeks- even months perhaps.
But first there was only Black Friday- the day after Thanksgiving when American retailers officially kicked off the holiday shopping season. In the last decade - never to let a lucrative opportunity pass them by - retailers devoted the following Monday to their virtual shop, and Cyber Monday was born. But something else was born along with it: the special 'one-day event' in the retail scheme of things. Aren't we all familiar with the 'manic Monday', 'terrific Tuesday' and 'wacky Wednesday' offers? Ask any marketing expert and she'll tell you that creating a sense of urgency appeals to the human psychology and is a well-tested method to sell merchandise rapidly.
Continue reading "Bet You Won't Have Time To Read This Post Today" »
Posted by Madhu Janardan (View Profile | View All Posts) at 5:27 AM
Who hasn't heard of the popular comic strip and television show 'Dennis the Menace,' in which an obnoxious little boy would confound and annoy his neighbor, the unwitting Mr. Wilson? That old show perfectly describes the state of consumer-focused chat bots up until very recently. For example, you might purchase a home security system that hooks up to your smartphone only to have the teenager next door hack into it and set off the alarm in the middle of the night. A funny prank to the teenager - but not funny to you and your family!
And haven't we all had some amount of fun asking Siri or Google Voice questions in such a way that they would elicit funny responses? But this is changing. Have you noticed that bots are now becoming smart enough to know that people are playing around with them? Instead of trying to answer a question, they simply stay silent. The goofiness involved with baiting a chat bot is changing quickly, as human beings begin to respect machines for what they are.
Continue reading "Is Your Business Prepared for Conversational Commerce?" »
Posted by Madhu Janardan (View Profile | View All Posts) at 6:49 AM
From merely supporting business competitiveness to becoming a catalyst of change and tomorrow-readiness, technology has come a long way. There is growing understanding and increasing consensus about its potential to seed opportunities of the future. Few will argue about the proactive role technology is playing in shaping business; and we all agree it's an equal participant in generating ideas for "what else" business can or needs to be. Yet, often times, I think it's not the technology, within the enterprise, so much as the organization's innovation quotient, when it comes to levergaing that technology meaningfully and innovatively, that can make that 'survive-or-thrive' difference.
Continue reading "Got the Technology? Now get Innovative." »