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The Future of Business: Faster Than Real-Time?

June 21, 2012 No Comments

SOURCE: Business Analytics

Analyst Jeremiah Owyang of Altimer explained that “Faster Than Real Time” referred to the importance of anticipating customer needs, not just reacting to them as fast as possible.

He used the retailer Target as an example: the company uses predictive technology to give special offers for products that customers are likely to want in the future. Just as the top sport stars have learned to anticipate where the ball is going to be, based on their long experience of the underlying patterns of play, organizations can now monitor the patterns of business and take action.

Owyang gave examples of organizations that are using new technology to change the way they interact with customers: the  famous case of Tesco using the walls of the Seoul metro to create a “virtual supermarket” where shoppers could use their mobile devices to choose products and have them delivered.

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