The Digital consumer and Disruptive technologies in business

Digital consumerism is also impacting the way companies use technology. Increasingly, the core business platform is no longer the only source of information and insights. Additional solutions based on disruptive technologies are being integrated on to the core platform. This has led to a significant increase in the level of insights firms have about their customers. We are already witnessing micro-segmentation of customer, and products and services being tailored at an individual’s level. The coming decade will only see a rapid increase in this transformation.

IT vendors will need to change the way they are structured to deal with these trends. They need to be nimble, and think on their feet. Rather than being bureaucratic organizations, IT vendors will need to create internal startups that will work on adopting these trends. They will also need to look at an inorganic strategy to add to their capabilities in some of these areas. This will also have the added advantage of brining in talent that will act as a force of disruption in these organizations.

Going forward, IT vendors should seek to work closely with their customers to stay abreast of the latest technological developments, and come up with solutions that can take advantage of the convergence of these technologies. They should seek to use customer input more diligently while innovating / developing solutions and products. The emphasis should be on tapping inputs from various channels, mediums and devices and using these as critical inputs for new solutions and incremental innovations. Industry bodies can also play a vital role in this, and increase awareness about these technological trends.