Product Performance is the bedrock on which a brand is built. It not only helps companies understand the performance of products but also helps analyze performance in an external environment and forms input for product evolution. Companies are increasingly investing in converting their products into ‘Smart Devices’ for proactive performance analysis and to deliver high-performance products.
By introducing sensors into products, companies can gather real-time data on the performance of a product. Cloud Computing enables efficient storage, management, and provision of this real. Analysis of the data can help increase customer service efficiency and improve product design and the development of customer-centric products.
As consumers continue to reshape their expectations,
enterprises must contend with a uniquely challenging landscape.
The consumer technology landscape is forever changing.
From Pinterest to TikTok, WeChat to Instagram, new experiences can rapidly gain consumer adoption and relevance.
From augmented reality to voice, smartwatches to chatbots, consumers are constantly embracing new interaction paradigms.
Commoditized convenience is eroding loyalty and margin.
Consumers expect convenience. If you can't deliver it, they'll go elsewhere - e.g. next day shipping becoming the new standard.
Walmart will reportedly lose USD 1 billion on eCommerce revenue of USD 21 billion this year as it faces challenges in its bid to complete against Amazon – from trouble integrating its DNVB acquisitions to impact on margin from its next-day delivery operations.
Consumers value experiences that are curated to fit their lives better.
They want to engage, be served, and transact at their time, their pace, their place. They have little patience, infinite choice and the freedom to swipe left at the slightest hint of friction.