We are not the only one believing organizations are underutilizing data.
Companies that are putting data to work for them are disrupting industries.
Subscribers have a relationship with Netflix “where they understand the data that’s being collected,” tech venture capitalist Chamath Palihapitiya said Wednesday on CNBC.
Streaming giant Netflix has a huge advantage in the original content space due to its strong relationship with consumers, Netflix has shown that having a direct relationship with your customer – where your customer and your consumer are the same – is probably the best long-term business model.
Netflix, with a market value of nearly $142 billion, has seen its share prices more than double during the past 12 months. Netflix added far more users than expected in the first quarter as it pushed out heavy investments in original content to drive subscriptions.
Data and digitization of the physical world
90% of today’s data was created in the last 2 years (IBM).
After the Facebook/Cambridge Analytica scandal, we’re starting to be aware – as consumers and citizens – that data is our property. It’s our identity. It’s who we are. Between now and May 25 when GDPR becomes enforceable, it’s everyone’s once-in-a-generation opportunity to recapture control.
For corporates, data is not only a burden.
Necessity is the mother of taking chances. The burden of evidence for adoption of disruptive solutions is a significant barrier to innovation. Companies struggle to experiment and scale because of risk averse providers and regulators but Netflix’s case is showing everybody that it’s time to put data at work for you.
We are living in the age of virtualization. A world of increasingly powerful sensors and smart devices (IoT), where most aspects of our lives are captured in rich detail. From what you purchase, to where you exercise, to how much sleep you get.
The digitization of the physical world is changing how we live, work, and behave every day. Soon, the days of an assistant that sits on your shelf answering individual, one way questions will be a thing of the past. People want their services to deliver desired outcomes, not just isolated tasks. LIFEdata is an enterprise AI platform that businesses can add to their products to make people’s lives easier.
Chatbots, AI, data and engagement
Creating relevance for engagement from a customer’s past and current activities is a new concept that is being termed “mobile context,” and it’s opening a new world of possibilities for engaging with customers.
By mixing location with content, this enables brick & mortar retailers to access specific groups of users based on location, lifestyle and age…. all at a fraction of the cost of traditional strategies.
For example, chatbots aren’t search bars.
They need to have interactions, conversations and coordinate joint actions. Make sure your chatbot is worth talking to.
Learn how you can use every interaction with a customer to create value.
Reduce the time to deliver the next best action to a few seconds. 24/7.
Find us at CUBE TECH Fair Berlin 18.
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Also published on Medium.