- Freemium model : Basic products/services are provided free but users are charged for advance features. E.g. Coursera, LinkedIn, Spotify, Dropbox, Skype
- Pay as you go or Subscription Model : Pay only for services which are used. E.g. Netflix, Kindle, New York Times, Safari Books online
- Customer experience model : provide the customer experience never before e.g. Tesla, Disney Land, Apple
- On-Demand model : provide customer service on demand with speed. E.g. Uber, cloud services from Amazon, Microsoft
- Marketplace model : provide a platform for buyer and seller interact with each other directly e.g. ebay, Alibaba
- Free model : provide the typical services to users free and sell their behavior data to different businesses e.g. Google, Facebook, Patientslikeme
- Crowd-sourcing model : receive money for engaging crowd for common goal, innovation, problem solving. E.g. Kaggle, CrowdAnalytix
- Bundling model : selling similar products or services together. E.g. Microsoft Office
- Gamification model : use of game like feature to simplify the interaction. E.g Mint.com, Khan Academy, Nike +
Was this all available to us 20 years before? Ali Baba’s “Open Sesame” was a story of childhood, but Digital Transformation is reality – and from now on nothing will be same again.
In the recent Cricket world cup, every team had its own team of Data Analysts. They used various technologies like Cloud Platform and visualizations to predict scores, player performance, player profiles and more. Around 40 years’ worth of Cricket World Cup data is being mined to produce insights that enhances the viewer's experience.
- What would be the most profitable food served at the concession stand?
- What would be the best prices to sell game day tickets?
- Determine which player on the team is the most productive?
- Which players in the draft will become all-stars, and which ones will be considered role players?
- Understand the fans behavior at the stadium via their app and push relevant information accordingly.
- Very small, targeted in scope and functionality
- Gives developers the freedom to independently develop and deploy services
- Loosely coupled & can communicate with other services on industry wide standards like HTTP and JSON
- API based connectivity
- Every service can be coded in different programming language
- Easily deployable and disposable makes releases possible even multiple times a day
- New Digital technology can be easily adopted for a service
- Allows to change services as required by business, without a massive cost
- Testing and releases easier for individual components
- Better fault tolerance and scale up
- Incur a cost of the testing at system integration level
- Need to configure monitoring and alerting and similar services for each microservice
- Service calls to one another, so tracing the path and debugging can be difficult
- Each service communicates through API/remote calls, which have more overhead
- Each service generates a log, so there is no central log monitoring.
Now is the time to move beyond just collecting, storing & managing the data to take rapid actions on the continuous streaming data – Real-Time!!
- Digital makes customer self-service easy.
- Digitally engaged customers trust their utilities.
- Customer care, provided through digital technology, offers utilities both cost-to-serve efficiencies and improved customer intimacy.
- Digital technology brings the capability to provide more accurate billing and payment processing, as well as faster response times for changing addresses and bills, removing and adding services, and many other functions
- Using Mobile as a primary customer engagement channel for tips and alerts
- Predictive maintenance with outage maps and real time alerts to service engineer helps reduce the downtime and costs
- Smart meters allows utilities organizations to inform their customers about the energy consumption, tailor products and services to their customers while achieving significant operational efficiencies at the same time
- Google’s Tensorflow
- Facebook open source modules for Torch
- Amazon released DSSTNE on GitHub
- Microsoft released CNTK, its open source deep learning toolkit, on GitHub
Today we see lot of examples of Deep learning around:
- Google Translate is using deep learning and image recognition to translate not only voice but written languages as well.
- With CamFind app, simply take a picture of any object and it uses mobile visual search technology to tell you what it is. It provides fast, accurate results with no typing necessary. Snap a picture, learn more. That’s it.
- All digital assistants like Siri, Cortana, Alexa & Google Now are using deep learning for natural language processing and speech recognition
- Amazon, Netflix & Spotify are using recommendation engines using deep learning for next best offer, movies and music
- Google PlaNet can look at the photo and tell where it was taken
- DCGAN is used for enhancing and completing the human faces
- DeepStereo: Turns images from Street View into a 3D space that shows unseen views from different angles by figuring out the depth and color of each pixel
- DeepMind’s WaveNet is able to generate speech which mimics any human voice that sounds more natural than the best existing Text-to-Speech systems
- Paypal is using H2O based deep learning to prevent fraud in payments
- We had our family photos pined on the board,
- Our contacts were written by our hands and arranged in alphabetical order for easy retrieval,
- For calling anyone we used to have one black dialing phone at the end of the hall
- Most of the time outside dialing was allowed to only select few privileged seniors,
- We used yellow post-it stickers to put our thoughts on the bulletin board,
- Any software delivery to customer was copied on the 8 inch floppy disk and shipped across continents to be hand delivered.
- Minimize maintenance costs - Don’t waste money through over-cautious time bound maintenance. Only repair equipment when repairs are actually needed.
- Reduce unplanned downtime - Implement predictive maintenance to predict future equipment malfunctioning and failures and minimize the risk for unplanned disasters putting your business at risk.
- Root cause analysis - Find causes for equipment malfunctions and work with suppliers to switch-off reasons for high failure rates. Increase return on your assets.
- Efficient labor planning — no time wasted replacing/fixing equipment that doesn’t need it
- Avoid warranty cost for failure recovery – thousands of recalls in case of automakers while production loss in assembly line
TrainItalia has invested 50M euros in Internet of Things project which expects to cut maintenance costs by up to 130M euros to increase train availability and customer satisfaction.
- Payments - NFC payments, Biometric payments using finger scans, facial recognition, voice recognition, retina based check. Major players in this space are PayPal, Apple Pay, Android Pay, Samsung Pay etc.
- Virtual or digital currency
- Tsunami of Apps from Google maps, to zomato helping us throughout the day
- Retailers can use targeted mobile campaigns for customer acquisition, retention
- Live streaming apps like Meerkat and Periscope delivering targeted content to site-specific users which benefits both the consumer and the creator.
- With mobile enablement, a merchant can enhance your payment experience and boost operational efficiency
- Real time communicating with the customer, can be greatly enhanced through mobile enablement. Businesses can quickly respond to customer complaints or questions through social media, or the apps
- By analyzing the data generated by mobiles using Big data Analytics, businesses can give personalized experience to consumers
- Digital assistants like Google Now, Siri are helping everyone
Here are some well-known industry examples:
- Starbucks processes over 8 million mobile transactions each week, this data of mobile user behavior to customer preferences, is then analyzed by a team of data scientists for insights.
- Coca Cola is using mobile apps for field sales folks, equipment service teams and knowledge workers and commercials like get free coke on mobile
- The emergence of hyper-local startups like Jugnoo, Zopper, Grofers and PepperTap using mobile first strategy
- Virgin Atlantic, Bank of America, Delta, Chipotle have their industry leader apps for fantastic customer experience
As the penetration of smartphones and internet is increasing with 5G and beyond, along with the changing shopping behaviors, the mobile revolution is here to stay and impact the Digital Transformation further.
- Identity: name, location, gender, age and other demographic data
- Relationships: their influence, connections, associations with others
- Current activity: orders, complaints, deliveries, returns
- History: contacts, campaigns, processes, cases across all lines of business and channels
- Value: which products or services they are associated with, including history
- Flags: prompts to give context, e.g. churn propensity, up-sell options, fraud risk, mood of last interactions, complaint record, frequency of contact
- Actions: expected, likely or essential steps based on who they are and the fact they are calling now
- All customer touch point data in a single repository for fast queries
- Next best actions or recommendations for customers
- All key metrics in a single location for business users to know and advise customers
- Intuitive and customizable dashboards for quick insights
- Real time hyper personalized customer interaction
- Enhanced customer loyalty
Customer 360º helps achieve Single View of Customer across Channels – online, stores, marketplaces, Devices – wearables, mobile, tablets, laptops & Interactions – purchase, posts, likes, feedback, service.
- Increased need & desire among businesses to gain greater value from their data
- Over 80% of data/information that businesses generate and collect is unstructured or semi-structured data that need special treatment
- Typically requires mix of skills - mathematics, statistics, computer science, machine learning and most importantly business knowledge
- They need to employ the R or Python programming language to clean and remove irrelevant data
- Create algorithms to solve the business problems
- Finally effectively communicate the findings to management
Any company, in any industry, that crunches large volumes of numbers, possesses lots of operational and customer data, or can benefit from social media streams, credit data, consumer research or third-party data sets can benefit from having a data scientist or a data science team.
- Kirk D Borne of BoozAllen
- D J Patil Chief Data Scientist at White House
- Gregory Piatetsky of kdnuggets
- Vincent Granville of Analyticsbridge
- Jonathan Goldman of LinkedIn
- Ronald Van Loon
Although computers are better for data processing and making calculations, they were not able to accomplish some of the most basic human tasks, like recognizing Apple or Orange from basket of fruits, till now.
Note: this page contains paid content.
Please, subscribe to get an access.
Note: this page contains paid content.
Please, subscribe to get an access.