In this report from The IBM Business Value Institute titled Meeting the Demands of the Smarter Consumer, it is easy to see the impact that the smarter consumer is having on the retail industry. This is a broader indicator of the challenges facing all businesses and governments and underscores the need for customer intimacy as a business imperative. This to me continues to highlight that our current social and data-rich state represents both tremendous opportunity and considerable challenge. I recommend this report for its insight into this growing phenomena.
This article by Boris Pluskowski predicts that 2011 will be The Year of the Social Enterprise. He admits that his predictions are somewhat optimistic – but here’s hoping he’s right! Mr. Pluskowski believes we’re about to embark on a new era of unprecedented collaboration and social interaction that leads to the world’s first fully social business. Some key points from the article:
I highly recommend this article by Mark Suster titled The Power of Twitter in Information Discovery. This same author has written a piece on Twitter’s use cases, which is also a good read. For those that still think Twitter is about telling people what you had for breakfast, these are must reads. I agree completely with his perspective and use Twitter in a very similar manner.
As 2010 winds down, it is time to look ahead to 2011. I have high expectations as the calendar turns, and I believe 2011 will be the year of adoption. I believe we’ve reached a point where cash will come off the sidelines and I expect to see technology investments focused on revenue generation and value creation. With that as a backdrop, I’ll Label 2011 as the year of collaboration and intelligence – the two areas that I believe align very well with pressing business priorities. So here are my thoughts on 2011.
According to Pike Research, the smart grid data analytics market will reach $4.2 billion by 2015. Software and service providers of smart grid analytics for the utility sector will ride a large growth opportunity over the next several years. According to Pike Research, the relatively small market will increase from $356 million in 2010 to nearly $4.2 billion in annual revenue by 2015.
This Press Release from Verint continues the Social Media and customer service drum beat. The recurring themes are:
- A growing challenge to identify, collect and act upon data delivered through an expanding number of customer communications channels
- The need for an aggregated and unified view of customer data across all channels
- Analysis that delivers insight drives rapid and informed action
- Companies are not equipped to analyze the interactions that occur via email, chat, social media, forums, etc.
- There is a heightened need for text analytics. Solutions that mine interactions and feedback across multichannel customer communications – including email, chat, blogs, review sites, social media and other text-based channels – continue to emerge
- Workflow delivers insight to the people that are best equipped to manage issues, address specific customer service concerns, or get ahead of negative sentiments in social media
Customer support is evolving to handle an ever-growing number of channels. Social media interaction is playing an expanding role in how companies provide support to their customers. I believe this Press Release from Attensity gives us a view into the future call center. As the press release points out, social media is quickly becoming a key component of customer care strategies.