Emerging Technologies

Although the impact of digitization is not new, the digital economy is entering a new age that has impacted enterprises globally on an unprecedented scale.

We are now living in the Hyper Connected World where People to People, People to Things and Things to Things are connected. Hyper connectivity has forced people to adapt to a Digital Lifestyle and also gives life to inanimate things such smart products and digitised services.

Artificial Intelligence

Artificial Intelligence in industry, experts are predicting, will change everything about the way we produce, manufacture and deliver. Cognitive computing, machine learning, natural language processing – different terms have emerged as development of the technology has progressed in recent years. But they all encapsulated the idea that machines could one day be taught to learn how to adapt by themselves, rather than having to be spoon-fed every instruction for every eventuality.


Role of analytics

  • Companies use analytics to decide which sales representatives should get which leads, what time of day to contact a customer, and whether they should e-mail them, text them, or call them.
  • Analyze “unstructured” data, such as text and video, to pick up information on customer sentiment that acts as a further input.
  • Analytics helps automate machine attribute correlations which saves labor and increases speed.

eCommerce

E-Commerce is a very dynamically evolving industry and this is primarily because of its underlying ever-changing technology.

Everything has now moved to a big data environment where everything is done seamlessly by E-Commerce industry and customer doesn’t even notice.


Role of analytics


Recommender Systems:

Recommender systems in E-Commerce work similar to YouTube, and serve as blueprint for customer to navigate through the store of this virtual environment.

Product specific analytics:

Focus on product specific details for example – Satisfaction rate of customers for a product, forecast of sales for a product etc.

Online Marketing Analytics:

As E-Commerce provides you a virtual environment to buy stuff, they have to market on the virtual environment extensively by analyzing the funnel of new prospect customers and maximize the likelihood of a customer clicking an ad.

User Experience Analytics:

This probably is the biggest task for analytics in E-Commerce industry. How is product searched across portfolio, what decides the rank ordering of products for a particular search, what is the best landing page of a customer coming from Facebook etc.

Supply Chain Management:

Managing data for products right from warehouse to the customer. E-Commerce industries use analytics extensively to manage Inventory. Also a significant portion of work is into optimizing transportation and pricing of delivery.

Fraud Detection:

Even though the E-Commerce company may not do it, most often for online frauds, they are the one who pay for it. Therefore, it’s important for them to plan, predict and control it.

Merchant Analytics:

Merchants form the core of E-Commerce industry. If the merchant grows, E-commerce provider also grows. So E-Commerce players do extensive analysis for Merchants to get into new markets or set the right price for their goods.

Gamification

Gamification analytics is about tracking behavior so that the interaction with the system (game) will become simpler, more compelling and more engaging.

Gamification is gaining traction in a big way – the category was listed on more than a dozen Gartner Hype Cycles, the media buzz has hit a fever pitch and analysts continue to project the market to cross $2.8 billion by end of 2016.

Gamification will emerge as a competitive differentiator. In its recent Magic Quadrant for Customer Engagement Center Workforce Optimization, Gartner called out gamification as a powerful force in employee satisfaction and productivity.


Role of analytics


Game engagement

Game designers use it to segment gamification users and target the right game rules for them and see the difference between optimal and poor game engagement and more.

Gamification owner

The gamification owner can view and control how the gamification experience improves users’ performance in the most effective way.

Game administrators

Game administrators also use analytics – but they are more focused on tracking that everything is on track and on optimization.

Game customers

The gamification vendor uses gamification analytics to see comparative performance across games and customers, by segment.

Industry 4.0

Connected, intelligent products that communicate with users, new digital business models that harness collected data to offer additional services and as-a-service products, products on the assembly line that tell shop floor machinery how they are to be processed. The core of Industry 4.0 is highly intelligent connected systems that create a fully digital value chain, the 4th industrial revolution enabled by the Industrial Internet of Things. Three key trends are changing the way of life for industrial companies

• Digitize • Industrialize • Optimize


Role of analytics


Manufacturing Analytics:

Manufacturing Analytics tools help production experts in extracting valuable insights from existing production data.

Production Performance:

This concept provides a snapshot of the current status of individual machines, and of the production system as a whole. Response times are shortened, tasks are clearly allocated, and information is made permanently accessible.

Process Management:

This helps visualize, monitor, and document process data in real time, automatically detects process deviations and trends, and helps experts optimize production processes directly and on an ongoing basis.

Production Rules:

This helps monitor compliance with the parameters established for the production process. The system detects any deviations and notifies the worker in charge directly.

Smart City

A growing adoption and awareness of the smart city concept by an expanding set of government leaders. Information from IoT (drones, wearables, connected devices), social media, crowdsourcing and sharing economy companies will have a greater impact on cities. Smart cities also mean better protection against natural disasters.


Role of analytics

The following are the areas in which analytics could have a profound effect on ‘Smart Cities’.

Security:

Predictive Analytics have been used in several cities across the world to help predict where crimes are likely to take place through historical data and geographical data.

City Planning:

It allows models to be built to maximize the accessibility of certain areas or services whilst minimizing the risk of overloading important elements of the city’s infrastructure. In Short, it creates efficiency.

Transport:

Through using data like this throughout a transport network, it will create effective and flexible public transport, decreasing delays and increasing efficiency.

Smart Lighting:

Reduce energy wastage by using intelligent and weather adaptive lighting in street lights

Water Management:

Water leaks can be detected and corrected and irrigation of parks can be optimized

Noise Pollution:

Sound monitoring in bar areas and centric zones in real time.

Citizen Information:

Cloud based big data automation enables smooth flow through real time traffic maps

Waste Management:

Look at location sites, material tonnage, service cost and revenue, and service group breakdowns. Get insights on cost and revenue behind trash and recycled materials.

Sports Analytics

Today, sports are generating more data than ever before. Sports organizations have an unprecedented opportunity to use data to improve their decision-making and power their performance.

Big data analytics help sports organization use data to win more games, reduce operating costs, strengthen brand value, how to actively engage with fans on league and team sites, social media and public forums and generate additional revenue across new and existing channels.


Role of analytics

The following are the areas in which analytics make an impact in sports industry

Players Analytics

  • Perform better predictive analysis of players and rankings.
  • Anticipate player safety issues and prevent injuries.
  • Analyze play-by-play effectiveness for real-time competitive intelligence.
  • Get greater insight on recruiting.

Digital experience

  • Gauge fan sentiment in social media, and respond quickly.
  • Manage how, where and by whom your digital content is consumed.
  • Provide more creative and engaging player and game stats.
  • Enable more interactive player stat comparisons for fantasy drafts

Operational Analytics

  • Determine the most dynamic pricing model for each market segment.
  • Provide accurate measurements to prove ROI to your sponsors.
  • Predict which sponsorship promotions will be successful.
  • Optimize revenue inside your venue – from concessions to merchandising.

Fan Insights

  • Understand fan preferences and behaviors.
  • Retain and boost revenue from season-ticket holders and new fans.
  • Enhance the fan experience and nourish your high-value fans with more personalized and relevant communications and promotions.