July 16th, 2015

Taking Advantage of Your Data in the Connected Marketplace

As I talk with more and more customers, a distinct landscape is taking shape: The lines and separations between IoT, mobility and analytics are becoming thinner and thinner, and the need to source data from every available source has become paramount.

In a recent blog post, DMI CEO Jay Sunny Bajaj shared his view of our journey over the last couple of years and the vision DMI had of the marketplace at that point in time. In it, companies would need to integrate the app world with the connected world, and include strategy, user experience and omni-channel commerce features, all driven by data. In my opinion, this vision is becoming manifest across industries.

I have seen this realized as we have both spoken with and delivered to customers.

  • My retail clients are asking me how they can understand their customers’ journey, how that changes, and how to identify when it changes and take advantage of such real-time knowledge with targeted offers. If you are looking for ways of utilizing your marketing data, see our latest white paper on Harnessing Mobility in Retail.
  • My manufacturing clients are talking about utilizing predictive analytics to forecast utility usage, implement proactive maintenance and workflows, and optimize operational efficiencies. These types of connected devices is expected to be a big part of the Internet of Things. For more information on how IoT will impact your business, download a complimentary copy of How the Internet of Things Will Change Everything.
  • My financial clients want to understand how to integrate transactional data with all other customer data to retain share of wallet, increase merchant retention and cross-sell, and provide an integrated experience for all of their customer groups. For additional information on the trends we are seeing in finance in mobile, check out the Top 8 Mobile Finance Trends for 2015.

All of this knowledge is driven by not only traditional data sources, but also through the integration of machine telemetry devices, mobile device native data, as well as mobile application data, coupled with where the customer is and what they are doing, obtained by sources such as Wi-Fi and iBeacons.

This seems like a very large and ungainly problem to solve, but DMI has a framework to quickly and efficiently drive value against a targeted set of this data. We have helped existing clients with customer segmentation, risk prediction, predictive maintenance and real-time alerts data sourced from machines, devices and other sources. We are using these methods to take predictive analytics and drive accuracy and value by supplementing it with this type of nontraditional and real-time data.

For our clients in the Cincinnati area, we are hosting a workshop/discussion forum on August 6 to allow cross-industry leaders to discuss how they are or want to utilize all available data sources to drive value, growth and efficiency. If you wish to join us at the workshop on Digital Trends across the Connected Marketplace, please click here.

Stay tuned for more exciting workshops coming this fall!

Chris Murphy, Director of Big Data Insights Division

 

Tags: analytics big data internet of things IoT

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