How IoT and digital are boosting companies’ profitability

How IoT and digital are boosting companies’ profitability

By | March 18th, 2017
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Use cases are showing that if businesses want to boost profitability from

digital and the internet of things, they need to actively adapt to them –

not the other way around


														
							

Ask a millennial for their details over the phone and you are likely to be met with suspicion and skepticism – yet ask them via a screen and the answer will be a barrage of information.

The rise in digital has lead to a complete cultural shift in the way modern customers interact with enterprise. With this progression comes the internet of things (IoT), which will expedite this shift. IoT is a dynamic part of the digital movement. The focus for companies is now shifting to customer experience management (CEM), away from a product centric mentality.

The pace, variety and depth of information gathered by IoT provides detailed insight into customer behaviour ranging from service consumption to product engagement. By using analytics and artificial intelligence, businesses can go beyond finding ways to adapt to customer experience trends and demands to now predict and deliver accurate customer experiences proactively.

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Nisheeth Bhakuni

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