By Danielle Franklin
We’re living in the age of Society 5.0, an era completely centered on the human experience. With the accelerating pace of digital transformation in people’s everyday lives, it’s become essential for companies to think of their customers as individuals, each with their own unique consumption habits, desires, routines, and thoughts. Investing in personalized experiences is more important than ever. Even B2B companies face the challenge of understanding their customers’ customers and helping them treat each person as an individual. The question everyone is asking is: “How can I innovate and offer my customer something that attracts them to me and away from my competitor?”
In an increasingly connected world, where information reaches people at nearly the speed of light, doing things differently and better has become mandatory. It’s what separates successful companies from those struggling to survive in an ever-more competitive market. Innovation is the name of the game. In addition to creative minds and engagement in the concept of Open Innovation, the key to innovation in Society 5.0 is understanding the data generated by each person.
Every cell phone, tablet, notebook, and its applications carries a massive amount of data about individuals – reading and music preferences, locations visited, favorite restaurants, past purchases, preferred clothing styles and sizes, exercise habits, communication patterns, travel history, and even health metrics like heart rate and blood pressure, as well as the social media platforms used.
Thus, with so much data available and processed in compliance with data privacy regulations like the brazilian LGPD, there’s an endless supply of innovative solutions that treat humans as unique individuals. This makes it unacceptable to offer someone marketing campaigns that have nothing to do with their consumption habits. The key question has become: how can we transform this data into insights that can serve as the foundation for innovations that cater to differentiated profiles in a personalized manner? Customers want to be recognized as unique by the brands they engage with. Moreover, they need to perceive that the company truly knows them well enough to offer something that brings more value to their lives.
In the age of Society 5.0, helping customers with their everyday challenges should be a constant concern among companies that want to remain top-of-mind for consumers. It’s no coincidence that many corporations employ specialists to develop data-driven products and services.
You’ve probably heard that data is the new oil, and that companies that want to survive in the new economy need to adopt a data-driven culture. Following this premise, information has become a company’s greatest asset, which in turn needs to know how to understand the data to extract the key insights for its business. With the right information, in the right place, a company’s competitive advantage becomes enormous.
Data, when properly evaluated, can contribute to the development of new customer-centric strategies. However, it’s human beings, with their intrinsic creativity, who will define the best way to work with the information to generate memorable experiences between customers and brands.
Danielle Franklin is the Commercial Director at Scala, a Stefanini Group company focused on implementing technological approaches that require a high degree of business specialization, such as Analytics, Artificial Intelligence, Hyperautomation, Integration, and Cloud.
