9th May 09:54 GMT
20:20 Customer Insight: Navigating the New Data Ecosystem

20:20 Customer Insight: Navigating the New Data Ecosystem

A report by Marketforce and TCS. Download your copy today!

Download the full report here.

Today we begin previewing our exclusive new report produced in conjunction with TCS, ’20:20 Customer Insight: Navigating the New Data Ecosystem’. We’ve surveyed over 350 senior managers from across Europe working in 20 different consumer-facing industries, in order to bring you the freshest and most pertinent insights on this oft-discussed, but highly complex topic.

Traversing the full terrain of the data eco-system, the report features future-focused chapters on the Internet of Things, regulation and personal data, and overcoming barriers to change. When it is currently estimated that 40 per cent of today’s leading companies will be displaced from their market position by digital disruption in the next five years, this is a curve of which it is vital to be ahead. In the coming weeks, we’ll be telling you precisely how.

Chapter 1: Negotiating the data deluge

Navigate your way to big data brilliance with this focused chapter exploring the opportunities and challenges presented by the vast quantities of data companies now collect on their customers. Emphasising the importance of smart, targeted investments and organisational structure, this chapter makes the case that when it comes to your analytics function, you will get out what you put in.

Chapter 2: The Potential of the Internet of Things

The Internet of Things promises to herald a new horizon of connectivity and company-customer communication. The potential for real-time feedback that is based on what customers do – rather than what they say they do – represents a significant new opportunity to understand customers better. However, four out of ten senior managers we surveyed believed their organisations are investing in sensors without knowing how they will use the data these sensors collect. Here we consider the key success factors of companies who are already using IoT effectively, and how you can emulate their success.

Chapter 3: Regulation and the Future of Personal Data

With more data comes more responsibility. In research conducted by the Economist Intelligence Unit, 71 per cent of UK consumers surveyed said they lack confidence in the way companies collect, use, handle and share their data. Regulators are also paying attention, most notably with the introduction of GDPR (European General Data Protection Regulation) due before the end of 2016. Success will lie in good compliance, but most important is striking the right balance between convenience and privacy, demonstrating the value to customers of holding their data through bespoke products and services.

Chapter 4: Overcoming the Barriers to Data-driven differentiation

From the evolving regulatory landscape, to insufficient investment, organisational resistance, and resourcing; in the fourth and final chapter of our report, we consider the key blockers to change in data and analytics. Taking a proactive approach, we offer solutions to the problems identified, and a roadmap for future success in the new data-driven digital landscape.

Download the full report here.

 

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