The Next 7,000 Days – How we will shop will change. Again. And Again…
By Katrina Gosek, Director | Commerce Product Strategy -Oracle on May 07, 2014
Internet of Things & Commerce Series: Part 1 (of 3)
Do you regularly watch TED talks? If not, you’re missing out on learning all sorts of amazing things about our shared reality. Here are a few things I’ve learned in the last few months watching TED talks that might wet your appetite.
· Low IQ gotcha down? Don’t worry, it’s not a 100% predictor of success; “grit” is actually a better indicator.
· Feel bad about those 2nd (or 3rd) pair of shoes you ordered online last night?
Don’t. Primates make the same mistakes with money.
· Food for thought while you’re snorkeling next time. Up to 90% of sea creatures light up.
· Bag of cords got you all tangled up? Imagine a time when electric sockets were the shape of light
bulbs … because they were the only things we plugged in.
And just over 2,000 days ago Kevin Kelly (one of the founders of Wired Magazine) gave a fantastic talk about “The Next 5,000 Days of the Web”. That was 2007. In the roughly 2,000 days since then unfathomable things have appeared in our ever-changing, every-accelerating world: smartphones, social media, wearable tech… Angry Birds, Candy Crush… And though we are only 7,000 or so days in to the reality of the internet, it has already grown to a size the defies imagination. Some stats to ponder on the dimensions of the world wide web as of 2013:
· 14.3 trillion web pages
· 672 exabytes of accessible data
· 43,000 petabytes of total traffic
· 1 yotta byte of total data stored (that’s as big as 180 billion, BILLION libraries of Congress)
· Yet, less than 1 % of things in the physical world are connected today…
And this is set to double. Every year. We have become embedded in a digital architecture – of things, of data, of content. And this is only just the beginning.
So what will the next 7,000 days bring? That’s the question everyone is asking, more or less. In the same way that “e-commerce” changed how we shopped more than a decade ago – and the smartphone and tablets are changing how we shop now – as everything gets smarter and more connected, this digital architecture – what is being called the Internet of Things -- will change how we shop, again. And again. And again.
Businesses engaging in commerce, either in the physical or digital world, are preparing for a new reality with new table stakes. They already see consumers expecting to connect into this digital architecture when shopping for goods on or offline. For consumers, online or offline is becoming one and the same. They are not shopping in channels they are … just shopping. Using their device as a filter over this digital architecture and expecting more choice, more customization, less effort because they and their data are part of it.
To explore this concept of how the Internet of Things will change commerce again, I will enlist the help of the “futurists” on the Oracle Commerce team who are tackling these tough questions to help prepare our customers and our product for the future. Please return to learn how this will affect Retailers, B2B companies, and product development.
We look forward to exploring with you the scale of change in Commerce over the coming days. Because even the next five years (that just under 2,000 days), will be dramatic.