Data is now the bedrock for growth. Capturing data from unprecedented sources combined with mechanisms for aggregation and analytics will enable new levels of convergence between the digital and physical worlds. This in turn will bolster data-driven decision making and accelerate transformation.
Centered around customer contacts, efforts to use a data-driven process to improve services in a rational and thorough way are about to expand to achieve competitive edge. In addition to services, it is inevitable we will see an ongoing process where more fields get digitized, including production and logistics, toward a more holistic integration.
It is the smartphone that drives data-driven processes in the service industry, powerfully promoting the digitalization of the customer experience. The aggregate of sensors that collect detailed data and cellular, wireless technology, which is equipped with a high-speed communication capability and also acts as a contact point for customers, has made it possible to thoroughly individualize, optimize and continuously improve services. Providers that make maximum use of these capabilities gain an overwhelming competitive edge destroying existing business processes.
There are additional technological advancements underway to expand these capabilities to include both logistics and production sites. Examples of these include sensing via intelligent edge and satellites, communication technologies including 5G and lower prices of cloud-based data accumulation analyses.
The expansion of data-driven processes is anticipated to change the way companies operate and transform business models. One can easily envision a future where companies excelling in technologies that increase data value via sensing and analysis can establish new brands that go far beyond their existing business.