In recent weeks I have been engaged on customer assignments where the holistic value of an all-encompassing approach to systems integration truly demonstrates the business benefits of omnichannel. With multiple streams of purchase opportunity and associated sales fulfillment retailers need to take account of how, precisely, their omnichannel strategies not only execute operationally, but also to better understand what the data being generated by each stream can contribute to the ‘bigger picture’ of customer insight.
It is an understatement to say that the outcome of political events over the past year will greatly impact the financial services industry in the coming decades. The fact remains that 2016 has been the most revolutionary year in recent history – its reverberations will be felt throughout this industry with increasing intensity.
I recently engaged in an interesting discussion with an internal Mastek colleague who was investigating the impact of online returns in an omnichannel retail environment. Retailers have to cope with delivering a seamless customer experience across the expanding channels of operation and grow their businesses whilst ensuring customer retention through continual satisfaction.
This means that the technical and, increasingly, digital solutions which support these operations perform together flawlessly to provide a holistic experience for shoppers for whom ‘brand loyalty’ is fast becoming a thing of the past.
Public sector IT is being challenged by the existence of more traditional IT delivery approaches and legacy systems operating side-by-side with digital. Integrating the two approaches and embracing digital effectively, in line with the recommendations of GDS (Government Digital Service) is driving organisations to consider a bimodal approach.
Recently, the media as well as various organisations have felt the need to comment on the NHS, at times in quite a disparaging way. We have seen the Red Cross label the NHS Emergency Care as being in a humanitarian crisis, while the BBC has included NHS issues in its daily news broadcasts.
Yes, it’s possible to make that magnificent leap. In the long and arduous journey to achieving end-to-end enterprise digital transformation, machine learning coupled with big data offers a stepping stone to graduate from Business Intelligence (BI) to Artificial Intelligence (AI).
The proverb ‘may you live in interesting times’ must feel more profound than ever before. As socio-political change reverberates globally, we are in the midst of witnessing major global transformations.
Differentiation is difficult in the financial services and banking world. And arguably, until the advent of the banking crisis, new market entrants and competition driving regulation, the industry has quite honestly taken customers for granted. With customer churn at a low level of around 4% per annum, the client’s apathy to explore the market is not surprising.
With the festive season well behind us, we are now in a period where retailers are announcing financial results. They are advising the waiting world of how well (or otherwise…) they’ve performed in this vital part of the trading year.
Use technology and retail sense to reduce your cost per acquisition