By Sujith Verghese, Cloud Domain Leader - APAC CX, Oracle EMEA Consulting
Will the next big Customer Experience advancement be for machines or people or maybe both?
The Internet of Things (IoT) has been called the next Industrial Revolution: 50 billion connected devices and a market opportunity of $7.1 trillion by 2020. From connected refrigerators for ordering groceries, wearable’s, and other smart home products. There is the potential to track real time data from our cars, aircrafts, home appliances for proactive monitoring and maintenance and improved Customer Experiences. The potential opportunity is immense as is the resultant explosion of real-time data.
Oracle CX or Customer Experience Solutions would be the heart of the applications to leverage this data and new processes and ways of working, as companies look to embark and transform on their Digital initiatives. While we have all heard of the term SMAC- Social, Mobile, Analytics and Cloud and familiar with how these are fuelling the growth of CX solutions, add a fifth term to that - "IOT" and things really start to get interesting! As devices – consumer gadgets and appliances and enterprise machines get connected, across industries; the processes that will get transformed first will be the sales, marketing and customer service departments. CX applications across Sales, Service and Marketing will be listening to the events from these devices in real time and trigger necessary actions to ensure consistent, contextual and yet differentiated services for customers. How cool will it be when you get a notification on your watch or smartphone telling you that your fridge just ordered fresh bread and milk for you as it is monitoring the best before dates of its contents?
How should organisations get ready for this next revolution in CX? Investments in IOT, can be roughly categorized into three areas: sensors, networking and apps. . With several possibilities, companies run the risk of failure by adopting a big bang approach. Our advise is to first enable the CORE CX processes (sales, service, or marketing). Oracle has a range of best in class CX cloud and Platform solutions and Oracle Consulting’s True Cloud Method Plus ™ (TcM) methodology provides fixed scope / low-risk deployment approach for these solutions, achieving best in class cloud adoption experience. Get to learn the solution first and get a better understanding during the initial implementation about what other requirements you would have. Based on that understanding, you could get ahead with the plans around connecting people and things, using a Proof Of Concept (POC) approach including integration to your already deployed apps. The initial proof-of-concept investment is usually very small. Once a successful evaluation/prototype is okay-ed, it can move on to a commercial deployment
The early Internet of Things started by making connections between people and things and like the Internet of people before it; it too will change everything.
But, however large the perceived size of the opportunity or the dazzle of the technology is, it must first make sense and be tied to business outcomes and results. It is important to start small and pilot the solutions and Oracle True Cloud Method Plus™ (TcM) approach provides a low-risk deployment approach based on our experience on what many customers require to get them going quickly and reach business benefits.
To learn more about the technology described in this post, please visit https://www.oracle.com/applications/customer-experience/index.html