What Would Charles Darwin Say - About Customer Analytics in the Age of Big Data?
Short Takes...on Analytics
|Posted by Suketu Gandhi, Principal, Deloitte Consulting LLP|
|Greg Banks, Director, Deloitte Consulting LLP|
Nature creates balance. Charles Darwin made a compelling case for this. In Darwin’s published views, when too much of a certain type of foliage grows in a given region, nature may answer by propagating species who in turn eat the foliage. But it is infrequently a smooth nor painless process. There are normally some players who prove faster, more adaptable and more hungry; these players take away from others a disproportionate share of the foliage or more to our point – of the marketplace.
The balance of power between customers and companies continues to shift, due in large part to the increasing availability of information. And nature is once again stepping in – this time to keep in reasonable check the power of the customer.
As buyers learn more, by sharing seamlessly with each other, their power accelerates. But at the same time, these same buyers are leaving behind more clues and this is where companies can regain some of the power.
Faster, more adaptable and hungrier companies – those who are mastering customer analytics in this big data era (and snapping up market share) -- are not unlike giraffes de-leaving a forest. Darwin would be nodding knowingly about their advantages and shaking his head sadly about the fate of companies who are slower to make this transformation.
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