Key takeaways

  • Businesses that employ enterprise gamification can increase engagement and facilitate internal innovation, while driving their commercial objectives.
  • M2 Research forecasts that the gamification market will be worth USD$2.6 billion by 2016.
  • As Gen Y moves into executive roles within large organisations, it is likely that their experience with gamification will make the use of this technique increasingly integrated within the enterprise environment.

A term that is quickly trending within the rapidly evolving digital economy, Big Data represents an enormous opportunity for businesses looking to differentiate and be relevant in the current environment. Driven by the proliferation of digital channels, particularly mobile, businesses increasingly have access to a smorgasbord of insights about their customers, through which they can present personalised and targeted offerings.

Traditionally defined as comprising of data sets that are generally beyond the capability of an organisation to capture, analyse and process. The majority of Australian businesses have been accumulating Big Data internally for years without really knowing its worth and/or how to slice it in order to make effective and timely decisions with it. Based on our internal analysis of Australian Retail and Consumer businesses, we estimate that these businesses are missing an opportunity worth $3.8 billion* by not leveraging existing internal data.

From the customer perspective: imagine being able to make contact at the optimal time with? an offering for a product in the right size, shape, colour, at a price you know they will pay, recommended ?by a select circle of their friends, guaranteeing delivery at their own convenience, with post-purchase support and service – the perfect experience.

For your business: cutting down the need for expensive broad advertising/branding campaigns, understanding which products and services your customers want, knowing which digital marketing channels are best-suited for your business, running cost-efficient supply chain and operations functions – in essence oiling a slick path to conversion and revenue growth.

As reported by Smart Company, this experience is not just a theory, with businesses such as restaurants now collecting data on their patrons in terms of their food and beverage preferences, allergies, dining preferences (e.g. which napkin they prefer) in order to ensure an optimised customer experience and in some cases a fluid internal operation.

For those organisations seeking? to move to a Consumer Adaptive Retailing model of operation ?(outlined in our Future of Retail?– Consumer Adaptive Retailing report), Big Data is crucial for enabling channel specific optimisation and marketing, which will contribute to the key activity of context adaptive marketing. Leveraging Big Data can also serve to enhance knowledge of potential opportunities and disruptive threats occurring within the broader networked marketplace, as well assist with operational business planning for other business functions such as supply chain and merchandising.

Download our recently released Big Data – The next frontier for innovation report to explore how your businesses can uncover the hidden opportunities within Big Data and leverage these to drive informed business decisions while enhancing customer experience and innovation.

*This estimate is based on PwC’s observations of R&C businesses in Australia and the impact that companies who do invest in performance analytics are achieving in other countries.

 

Contributor

John Riccio

John is PwC Australia’s Design & Deploy, Experience Consulting partner.

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