Big data, artificial intelligence analytics and connectivity are driving Fintech revenue, report reveals.
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Category: Data Innovation
Shopping and shipping and the constant e-commerce logistics challenge facing new online retailers: Renée Frappier examines why delivering purchases must be efficient and effective.
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London Tech week: Video shorts from four start-up founders and managers Leaders from four amazing start-up firms joined me on our London Tech Week panel, all at different stages of development, all with different challenges, but all with a great perspective on the challenges they have faced and indeed are facing today. We asked them: “What…
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The UK DMA has explored how consumers want to engage with the brands they love, now and in the future.
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Consumers regard Chat Bots as the key-holders to speed, unlocking immediacy and convenience in online services, survey reveals.
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A new trend report from JWT’s futurism and innovation unit, The Innovation Group, has been researching consumer behaviour and its findings urge business and marketers to explore Unreality, the intangible aspects of our lives that defy big data and the ultratransparency of the web.
We live in an age of hyper-reality and transparency overload, when our private Google searches are indexed by algorithms and smartphones offer a window onto the intimate lives of millions of strangers. But what happens when we tire of all this unfiltered faux-reality? Enter Unreality . . .
Lucie Greene (pictured), worldwide director of the Innovation Group, explained: “Consumers are adrift in a sea of user-generated content that purports to offer access to the ‘real’ world. But they are increasingly aware that much of this is highly mediated and misleading.
“Unreality is the clear reaction to this: surreal visuals, unicorns, alternate universes and all.”
The digital overload report explores:
- Magic language
Why brands are using the vocabulary of the spiritual and astrological worlds to offer enlightenment and escapism to consumers, even if the goal is selling face cream. - Post-reality imagery
Surreal imagery is emerging as a reaction to gritty user-generated reality, says the report, as otherworldly and supernatural scenarios meet a need for psychological escapism. - The new New Age
Spiritually rewarding experiences with a positive psychological and physical impact are taking the place of prayer as consumers flock to sound baths, crystals and cosmology. - Surreal porn
Virtual reality is ushering in a new erotic aesthetic that blends fantasy with surreal sci-fi, with much of it coming from the video-games graphics world.
When hyperbole is stratospheric, where is there that’s beyond awesome? Another world, but one that doesn’t actually exist. Download the free 34-page report here.
Andy Wood sheds light on how businesses can best use the data available to them that has been generated from their loyalty schemes.
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The phenomenon of Big Data marches on, with the latest estimates showing that spending on technology and services will reach $48.6bn (£32bn) within four years.
That is according to IDC, which says that between 2014 and 2019, the market will grow at a compound annual growth rate (CAGR) of 23.1%, with the big data market comprising three main submarkets: infrastructure; software; and services.
The software segment – which it defines as information management, discovery and analytics and applications software – will be the main growth driver, with a CAGR of 26.2% over the period.
Services – which includes professional services and support services for infrastructure and software – will grow by 22.7% a year, while infrastructure (computing, networking and storage) will see 21.7% growth.
Barriers for big data market
However, despite the predicted boom time, IDC warns that there will be certain barriers for the big data market such as privacy and security concerns as well as challenges relating to the collection of personal data.
IDC programme director, Jessica Goepfert (pictured), said: “The ability to leverage big data and analytics to develop an integrated view of customer activities and business operations will provide competitive differentiation to companies across industries.
“However, in addition to the huge opportunities, big data presents some significant risks and liabilities to organisations. Companies will need to approach these ongoing challenges with awareness, flexibility, adaptability and responsibility.”
What is big data? Simply put, it refers to an extremely large set of information, and by association its growth and availability, and its implied subsequent usage. We have never previously lived in a world where we have such a potential to share information about ourselves and mine information about others; their thoughts and feelings, their buying and voting habits; their likes and dislikes; and the amount of time spent on each of these things.
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When it comes to marketing, AI will continue to impact the sector in two ways. Firstly, the types of jobs marketers will do and, secondly, the way campaigns are conceived, run and measured.
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