What is Intelligent Transformation?
The Global Shift in Customer Purchasing Experience
All over the world and across industries, the requirements of customers are rapidly evolving. This is occurring due to customers having greater choice coupled with the growth of new frictionless engagement channels. This is creating a global shift in the purchasing experiences of customers, and empowering customers to evolve their own buying, usage and behaviour decisions.
Within the telecommunications sector, there has been a growing move towards personalised offerings as mobile operators implement digital transformation initiatives. However, the pace of digital transformation is accelerating at a rapid rate.
This acceleration is driven by the billions of data points created every day by customer transactions, such as bundle purchases, voice calls, data sessions and mobile money transactions. We are now able to understand and proactively engage with customers in near real time on any mobile device.
How do we accelerate the customer’s journey from being ‘connected’ to being truly ‘digital customers’?
According to IBM, 88% of companies identified ‘transactions’ as the top data source for collecting and analysing activities.
This isn’t a sudden occurrence. Over the last ten years, we have seen the rise of the ‘on-demand economy’, the growth of digital storefronts and frictionless customer experiences.
Alongside the traditional B2C industry players such as financial, transport and retail, we have seen the emergence of new disruptive companies like Uber, Airbnb and Alibaba.
The common thread amongst all these new disruptive companies is simply that they are transforming the customer purchasing experience.
Purchasing itself is now being transformed because of evolving pricing strategies, for example the rise of dynamic pricing.
However, dynamic pricing is only the first step.
At Digitata, we believe that the abundance of transaction data points generated by mobile customers means that pricing and the customer purchase experience of products is now being intelligently transformed.
Intelligently transformed pricing means that billions of transactions are analysed and processed to deliver truly contextual pricing to mobile customers.
Intelligently transformed pricing allows mobile operators to make better and more informed pricing decisions based on the billions of customer transactions being created and managed through big data.