Our recent research uncovers the digital media preferences among the younger cohort - Generation Z and millennials - concerning connectivity, content and commerce.
Only few organizations wise up to new digital competitors, as they usually come from outside their own sector and are not taken seriously at first. Their allegedly inferior propositions confuse prominent players, who should in fact be the very first to be fully aware of potentially disruptive innovation.
To swing into action rapidly, existing organizations would be well advised to properly analyze anything resembling digital competition. Evidently, there are clear patterns behind the startup success marking a new techno-economic reality. Ecosystems, APIs, and platforms characterize this New Normal where customers have more freedom of choice and better service at lower costs.
These successful disruptors are called two-sided market players, also known as multi-sided platform players. Companies like Uber and Airbnb are getting all the media attention, however there are over 9000 players (and counting) active in almost every industry.
The new VINT report explores the new digital competition and presents:
A analysis of the success factors of disruption
10 design principles of the new digital competition like Unbundle your organization processes, APIs first. Access over ownership and Building trust with social systems
The need for every business to develop a API-strategy
An appeal to the CIO and the IT department to use a leading digital approach and map out an offensive technological route.
2015 q3 McKinsey quarterly - Raise your digital quotientAhmed Al Bilal
This document provides an overview of McKinsey Quarterly magazine issue number 3 from 2015. It includes summaries of several articles in the issue on topics related to digital transformation, machine learning, cybersecurity, business model innovation, and organizational redesign. It also lists additional short articles on social media influence, resource productivity, diversification strategies, emerging market acquisitions, industry trends in banking and oil/gas, and infrastructure projects. The document outlines the publication's leadership and details on how to access digital editions and engage with McKinsey Quarterly online.
Going Digital: General Electric and its Digital TransformationCapgemini
GE has undertaken a major digital transformation to transition from being an industrial equipment provider to a provider of data-driven services and solutions. Key aspects of GE's transformation include developing software and analytics products, opening its Predix big data platform to third parties, and attaching sensors to machines to capture performance data and provide analytics to improve efficiency. GE has also hired new digital leaders, set up centers of excellence for software and digital initiatives, and trained employees in startup methodologies to foster innovation. The transformation aims to allow GE to capitalize on data from its industrial equipment and maintain relevance in a changing industry.
Connect - Talk - Think - Act: Developing Internet of Things & Industrial Inte...Rick Bouter
1) GE recognized the innovation potential of an instrumented, connected and intelligent world and is acting decisively through its Predix predictive maintenance platform and seven business segments.
2) GE Aviation developed the Integrated Vehicle Health Management application to monitor aircraft engines and equipment using sensors and analytics to predict maintenance needs and failures.
3) GE aims to transform from an equipment manufacturer to a digital industrial company by leveraging the Industrial Internet to offer new data-driven services that improve customer operations and experience.
#DTR8: The New Innovation Paradigm for the Digital Age: Faster, Cheaper and O...Capgemini
In this edition of the Digital Transformation Review, we examine how organizations can create sustainable and successful innovation strategy, drawing on our global panel of industry executives and academics.
We focus on four key themes:
Which digital innovations should be on organizations' radar screens?
How should companies promote innovation and embed it into their culture?
What lessons can we draw from organizations that are stand-out innovators?
What is the role and impact of innovation centers, including the Capgemini Consulting-Altimeter Group report, "The Innovation Game: Why and How Businesses are Investing in Innovation Centers".
Report 4 design to disrupt devops eng - D2d Design 2 DisruptRick Bouter
This document discusses how organizations can remain successful in the age of digital disruption. It argues that traditional organizations must adopt the practices of startups and digital natives in order to compete, specifically through management innovation, Lean Startup methodology, and DevOps. These approaches emphasize speed, customer obsession, engaged staff, removal of bureaucracy, and empowering teams. The document also examines the concept of the "digital enterprise" and outlines a process for organizations to transform into one through developing a vision, involving staff, new governance models, and fully integrating digital technology. Overall it promotes these newer strategies as ways for traditional organizations to adapt to the current climate of rapid business disruption.
The Digital Transformation Symphony: When IT and Business Play in SyncCapgemini
Digital Masters, such as Starbucks, that leverage digital technologies effectively, differentiate themselves from their peers by consciously striving to build a close relationship between IT and the business. However, Digital Masters are exceptions. The IT-business relationship in most organizations is often a fractious relationship rather than a marriage of equals. Business teams often find the IT department’s high costs and long implementation timelines unacceptable. In addition, IT leaders are often faulted for not speaking the language of business. Leading CIOs take this disconnect head on and try and fix it. Our research shows that leading CIOs take three key actions to align the IT department with the needs of the business: 1. redesign the IT department to unlock digital innovation; 2. create strong digital platforms; 3. rationalize IT Infrastructure to fund digital initiatives. We explore each of these actions in this research paper.
Realising Digital’s Full Potential in the Value ChainCognizant
When we spoke with executives across Europe who lead digitising efforts, they described a diverse range of deployments, but digital can, and must, deliver far more than it has so far. In this ebook, we explore how businesses can explore digital's full potential across their value chain.
Only few organizations wise up to new digital competitors, as they usually come from outside their own sector and are not taken seriously at first. Their allegedly inferior propositions confuse prominent players, who should in fact be the very first to be fully aware of potentially disruptive innovation.
To swing into action rapidly, existing organizations would be well advised to properly analyze anything resembling digital competition. Evidently, there are clear patterns behind the startup success marking a new techno-economic reality. Ecosystems, APIs, and platforms characterize this New Normal where customers have more freedom of choice and better service at lower costs.
These successful disruptors are called two-sided market players, also known as multi-sided platform players. Companies like Uber and Airbnb are getting all the media attention, however there are over 9000 players (and counting) active in almost every industry.
The new VINT report explores the new digital competition and presents:
A analysis of the success factors of disruption
10 design principles of the new digital competition like Unbundle your organization processes, APIs first. Access over ownership and Building trust with social systems
The need for every business to develop a API-strategy
An appeal to the CIO and the IT department to use a leading digital approach and map out an offensive technological route.
2015 q3 McKinsey quarterly - Raise your digital quotientAhmed Al Bilal
This document provides an overview of McKinsey Quarterly magazine issue number 3 from 2015. It includes summaries of several articles in the issue on topics related to digital transformation, machine learning, cybersecurity, business model innovation, and organizational redesign. It also lists additional short articles on social media influence, resource productivity, diversification strategies, emerging market acquisitions, industry trends in banking and oil/gas, and infrastructure projects. The document outlines the publication's leadership and details on how to access digital editions and engage with McKinsey Quarterly online.
Going Digital: General Electric and its Digital TransformationCapgemini
GE has undertaken a major digital transformation to transition from being an industrial equipment provider to a provider of data-driven services and solutions. Key aspects of GE's transformation include developing software and analytics products, opening its Predix big data platform to third parties, and attaching sensors to machines to capture performance data and provide analytics to improve efficiency. GE has also hired new digital leaders, set up centers of excellence for software and digital initiatives, and trained employees in startup methodologies to foster innovation. The transformation aims to allow GE to capitalize on data from its industrial equipment and maintain relevance in a changing industry.
Connect - Talk - Think - Act: Developing Internet of Things & Industrial Inte...Rick Bouter
1) GE recognized the innovation potential of an instrumented, connected and intelligent world and is acting decisively through its Predix predictive maintenance platform and seven business segments.
2) GE Aviation developed the Integrated Vehicle Health Management application to monitor aircraft engines and equipment using sensors and analytics to predict maintenance needs and failures.
3) GE aims to transform from an equipment manufacturer to a digital industrial company by leveraging the Industrial Internet to offer new data-driven services that improve customer operations and experience.
#DTR8: The New Innovation Paradigm for the Digital Age: Faster, Cheaper and O...Capgemini
In this edition of the Digital Transformation Review, we examine how organizations can create sustainable and successful innovation strategy, drawing on our global panel of industry executives and academics.
We focus on four key themes:
Which digital innovations should be on organizations' radar screens?
How should companies promote innovation and embed it into their culture?
What lessons can we draw from organizations that are stand-out innovators?
What is the role and impact of innovation centers, including the Capgemini Consulting-Altimeter Group report, "The Innovation Game: Why and How Businesses are Investing in Innovation Centers".
Report 4 design to disrupt devops eng - D2d Design 2 DisruptRick Bouter
This document discusses how organizations can remain successful in the age of digital disruption. It argues that traditional organizations must adopt the practices of startups and digital natives in order to compete, specifically through management innovation, Lean Startup methodology, and DevOps. These approaches emphasize speed, customer obsession, engaged staff, removal of bureaucracy, and empowering teams. The document also examines the concept of the "digital enterprise" and outlines a process for organizations to transform into one through developing a vision, involving staff, new governance models, and fully integrating digital technology. Overall it promotes these newer strategies as ways for traditional organizations to adapt to the current climate of rapid business disruption.
The Digital Transformation Symphony: When IT and Business Play in SyncCapgemini
Digital Masters, such as Starbucks, that leverage digital technologies effectively, differentiate themselves from their peers by consciously striving to build a close relationship between IT and the business. However, Digital Masters are exceptions. The IT-business relationship in most organizations is often a fractious relationship rather than a marriage of equals. Business teams often find the IT department’s high costs and long implementation timelines unacceptable. In addition, IT leaders are often faulted for not speaking the language of business. Leading CIOs take this disconnect head on and try and fix it. Our research shows that leading CIOs take three key actions to align the IT department with the needs of the business: 1. redesign the IT department to unlock digital innovation; 2. create strong digital platforms; 3. rationalize IT Infrastructure to fund digital initiatives. We explore each of these actions in this research paper.
Realising Digital’s Full Potential in the Value ChainCognizant
When we spoke with executives across Europe who lead digitising efforts, they described a diverse range of deployments, but digital can, and must, deliver far more than it has so far. In this ebook, we explore how businesses can explore digital's full potential across their value chain.
Ctrl-alt-del: Rebooting the Business Model for the Digital AgeCapgemini
Our research with the MIT Sloan Management Review reveals that only 16% of organizations are leveraging digital technologies to develop new business models. Most organizations follow traditional approaches to innovation that focus on new products and services, rather than on business models. However, research suggests that the returns from traditional approaches have been diminishing with time. As Serguei Netessine, Professor at INSEAD Singapore says, “Pharmaceutical companies spend as much as 30% of their revenues on R&D, trying to develop new products or technologies. But the return from this enormous expenditure has been very elusive and it is a common problem across industries.” Business model reinvention can be as good a route as technology, product or service innovations. This research highlight five different approaches that organizations can adopt to reinvent their business model with digital technologies.
Zappos has made customer service a core part of its organizational culture and DNA. It invests heavily in training all employees, including senior leadership, on customer service. This people-centric approach sees call center volume as a way to enhance customer experience rather than a problem. As a result, Zappos continually ranks among the best for customer service according to various publications. Its focus on customer service from the start, even at the cost of short term losses, has paid off through strong customer loyalty and word-of-mouth marketing.
The digital transformation symphony when it and business play in syncRick Bouter
The document discusses how Starbucks successfully transformed digitally under the leadership of CIO Stephen Gillett from 2008 to 2012. Gillett collaborated closely with other executives to set up Digital Ventures, a new business unit focused on digital innovation. Digital Ventures delivered innovations like a mobile payments program that helped drive Starbucks' turnaround. The document argues that strong IT-business collaboration, as exemplified by Starbucks, is key to digital transformation success. It also notes that most organizations lack such collaboration between IT and business teams.
In prior research, we showcased how digital leaders are using investments in digital technologies to transform key capabilities across customer experience and operations. However, in today’s volatile and disrupted world, capability leadership is not enough. As well as having the capabilities in place, organizations need to be nimble and flexible – dexterous – if they are to respond to ever-changing technology advances, emerging competitive disruptions, and changing customer needs. Enterprises that excel in both qualities – capability and dexterity – are digital organizations. This ‘digital elite’ reported that they outperformed their competitors on multiple key performance indicators including profitability, customer satisfaction, innovativeness and growth.
When Digital Disruption Strikes: How Can Incumbents Respond?Capgemini
Digital innovation is shaking the core of every industry and incumbents are struggling to respond. The emergence of startups such as Uber – which disrupt entire sectors with their agile, innovative business models – is worrying traditional incumbents. Venture funding to startups is at historic highs. In just one startup hotspot, Silicon Valley, venture capital investment in the first three quarters of 2014 was around $17 billion, a figure that is only surpassed by the peak of the dotcom era in 2000. In recent research by GE, two-thirds of respondents agreed that businesses have to encourage creative behaviors and must disrupt their internal processes in order to do so. What does a successful strategy for responding to disruption look like? How fast have companies responded to digital disruptions? To understand more about how traditional incumbents respond to digital disruption, we conducted research spanning 100+ companies.
Let the games begin - using game mechanics to drive digital transformation - ...Rick Bouter
The document discusses how gamification can help drive digital transformation in enterprises. It provides examples of how gamification has been used to improve employee engagement, training and learning, innovation, and process efficiency. Specifically, it notes that gamification can help accelerate change management by making new processes more engaging. An insurance company was able to streamline its claims process and save $18 million annually by gamifying an employee idea generation tool. The document also discusses how gamification improves employee training retention and speeds up the learning process.
Report 3 the fourth industrial revolution - things to tighten the link betwe...Rick Bouter
This report was all about the fourth stage of the Industrial Revolution made possible by the far-reaching integration of Operational Technology (OT) and Information Technology (IT). The IT/OT convergence and the end-to-end ecosystems that are under development – from design and production to client interaction and advanced Maintenance, Repair & Overhaul (MRO) – enable a future in which appliances, devices, things and machines for professionals and private people will communicate with central systems, with one another, and with users for the purpose of providing the best possible facilities to makers, service providers, legislators and customers.
Source, Sogeti ViNT: http://vint.sogeti.com/internet-things-4-reports/
The Internet of Things: Are Organizations Ready For A Multi-Trillion Dollar P...default default
The document discusses how organizations are preparing for the opportunities and challenges presented by the Internet of Things (IoT). It finds that:
- Most organizations only offer basic IoT solutions and few provide advanced capabilities like remote operation or performance insights. Readiness varies by industry.
- Less than 30% of organizations generate revenue from IoT solutions, though some pioneers like GE have found success. Emerging monetization models include tiered access to connectivity services.
- Integration with third parties is limited, with under 15% of solutions connecting to other products/services. While 60% use partnerships to develop IoT capabilities, few pursue acquisitions or open platforms.
- Organizations face challenges like
I made resume ini shareable format (PDF) from article Tangui Catlin, Jay Scanlan, & Paul Wilmoot (they are from McKinsey) titled "Raising Your Digital Quotient".
I hope this file can be shared to anyone that need it. You can read how McKinsey can estimates your company related to DQ (Digital Quotient).
---------------------
With the pace of change in the world accelerating around us, it can be hard to remember that the digital revolution is still in its early days. Massive changes have come about since the packet-switch network and the microprocessor were invented, nearly 50 years ago. A look at the rising rate of discovery in fundamental R&D and in practical engineering leaves little doubt that more upheaval is on the way.
For incumbent companies, the stakes continue to rise. From 1965 to 2012, the “topple rate,” at which they lose their leadership positions, increased by almost 40 percent1 as digital technology ramped up competition, disrupted industries, and forced businesses to clarify their strategies, develop new capabilities, and transform their cultures. Yet the opportunity is also plain. McKinsey research shows that companies have lofty ambitions: they expect digital initiatives to deliver annual growth and cost efficiencies of 5 to 10 percent or more in the next three to five years.
The innovation game: Why and how business are investing in innovation centersRick Bouter
The document discusses why companies are increasingly launching innovation centers. It notes that 52% of Fortune 500 companies have been disrupted since 2000, so companies need to innovate or risk being disrupted themselves. Innovation centers are teams and sometimes physical spaces located in tech hubs that allow companies to leverage local startups, investors, and academics to accelerate innovation. They pursue goals like developing new products/services, designing business models, connecting with startups, and understanding customers. The document outlines different types of innovation centers and how they can speed up innovation processes.
Digital Transformation Drives 2021 IT Investmentsrun_frictionless
Digital transformation efforts continue to dominate the technology landscape as more IT leaders recognize the need to update hardware and software infrastructure to accelerate strategic products and services for the business. SoftwareTrends conducted a survey of some 1,020 IT executives, directors, and managers between August and November 2020 to better understand the current state of digital transformation efforts across companies of all sizes—and forecast the technology investment plans for 2021.
https://runfrictionless.com/b2b-white-paper-service/
Embracing digital technology a new strategic imperative - capgemini consult...Rick Bouter
This document summarizes the key findings of a survey conducted by MIT Sloan Management Review and Capgemini Consulting on digital transformation. The survey found that while most companies recognize the importance of digital transformation, few have achieved transformational results. Only 15% of respondents were from highly digitally mature companies like Starbucks, which has successfully used technologies like mobile, social media and analytics to improve customer experience and business performance. However, the survey also found that digital transformation is becoming a higher priority for companies and that some organizations are making progress by developing business cases for technology investments and realigning incentives to focus on digital goals.
The document discusses the findings from research on the Industrial Internet. It finds that the Industrial Internet is still in an early stage of development similar to the internet in the late 1990s. The research identifies four phases of evolution for the Industrial Internet, with the near term focusing on operational efficiency gains, and longer term bringing new business models and outcomes through connected products and services. It also finds that the Industrial Internet will significantly impact industries, jobs, skills needs and collaboration across organizations.
Securing the Internet of Things Opportunity: Putting Cybersecurity at the Hea...Capgemini
The potential trillion dollar Internet of Things (IoT) business opportunity rests precariously on one critical factor – security. 71% of executives in our survey agreed that security concerns will influence customers’ purchase decision for IoT products. However, despite increasing cyber attacks and ample warning from security experts, most organizations do not provide adequate security and privacy safeguards for their IoT products. In fact, only 33% of IoT executives in our survey believe that the IoT products in their industry are highly resilient to cyber security attacks. Further, despite rising consumer concerns regarding data privacy, 47% of organizations do not provide any privacy related information regarding their IoT products.
So, why are organizations lagging behind in securing their IoT products and systems? Key reasons for this include an expanded attack surface, inefficiencies in the IoT product development process, and the lack of specialized security skill-sets. For instance, our survey showed that only 48% of companies focus on securing their IoT products from the beginning of the product development phase. Building a secure IoT system begins with the recognition that security needs to be as much of a priority as the features and functionality of an IoT product. The report highlights the key measures that organizations must take in order to put security at the core of their IoT value proposition.
Operations Workforce Management: A Data-Informed, Digital-First ApproachCognizant
As #WorkFromAnywhere becomes the rule rather than the exception, organizations face an important question: How can they increase their digital quotient to engage and enable a remote operations workforce to work collaboratively to deliver onclient requirements and contractual commitments?
As the rise in sophisticated digital technologies drives an exponential change in online customer behaviour, the need for businesses to embrace digital transformation has never been greater.
We can note the great growth of technology and its advantages in people's lives. Communication became much easier, the transmission of news and information to a few touches on the screen. Today, we spend more time connected to the world wide web than on television. E-commerce is another beneficial point brought with the technological flood, the convenience of buying online, receiving the product without even needing to leave the house is a very positive point. You can be entertained on the internet easily by browsing social networks, watching videos, talking to friends, in fact, a multitude of things.
TECHNOLOGY AND ITS IMPACT ON CONSUMER BEHAVIOR.pptxkaterinfz
Technology has greatly impacted consumer behavior. Over half the world now has internet access, allowing them to communicate and access information from anywhere. The COVID-19 pandemic further increased online activity and introduced remote work. Consumers now expect fast internet and prefer online shopping for its convenience and discounts. Online video consumption has also increased, with many using platforms like YouTube, Netflix, and TikTok for hours each month. The pandemic encouraged further online shifts, and most consumers who adopted new digital behaviors plan to continue them post-pandemic. Technology is evolving consumer expectations and driving physical retailers to digitalize or close as shoppers move online.
Ctrl-alt-del: Rebooting the Business Model for the Digital AgeCapgemini
Our research with the MIT Sloan Management Review reveals that only 16% of organizations are leveraging digital technologies to develop new business models. Most organizations follow traditional approaches to innovation that focus on new products and services, rather than on business models. However, research suggests that the returns from traditional approaches have been diminishing with time. As Serguei Netessine, Professor at INSEAD Singapore says, “Pharmaceutical companies spend as much as 30% of their revenues on R&D, trying to develop new products or technologies. But the return from this enormous expenditure has been very elusive and it is a common problem across industries.” Business model reinvention can be as good a route as technology, product or service innovations. This research highlight five different approaches that organizations can adopt to reinvent their business model with digital technologies.
Zappos has made customer service a core part of its organizational culture and DNA. It invests heavily in training all employees, including senior leadership, on customer service. This people-centric approach sees call center volume as a way to enhance customer experience rather than a problem. As a result, Zappos continually ranks among the best for customer service according to various publications. Its focus on customer service from the start, even at the cost of short term losses, has paid off through strong customer loyalty and word-of-mouth marketing.
The digital transformation symphony when it and business play in syncRick Bouter
The document discusses how Starbucks successfully transformed digitally under the leadership of CIO Stephen Gillett from 2008 to 2012. Gillett collaborated closely with other executives to set up Digital Ventures, a new business unit focused on digital innovation. Digital Ventures delivered innovations like a mobile payments program that helped drive Starbucks' turnaround. The document argues that strong IT-business collaboration, as exemplified by Starbucks, is key to digital transformation success. It also notes that most organizations lack such collaboration between IT and business teams.
In prior research, we showcased how digital leaders are using investments in digital technologies to transform key capabilities across customer experience and operations. However, in today’s volatile and disrupted world, capability leadership is not enough. As well as having the capabilities in place, organizations need to be nimble and flexible – dexterous – if they are to respond to ever-changing technology advances, emerging competitive disruptions, and changing customer needs. Enterprises that excel in both qualities – capability and dexterity – are digital organizations. This ‘digital elite’ reported that they outperformed their competitors on multiple key performance indicators including profitability, customer satisfaction, innovativeness and growth.
When Digital Disruption Strikes: How Can Incumbents Respond?Capgemini
Digital innovation is shaking the core of every industry and incumbents are struggling to respond. The emergence of startups such as Uber – which disrupt entire sectors with their agile, innovative business models – is worrying traditional incumbents. Venture funding to startups is at historic highs. In just one startup hotspot, Silicon Valley, venture capital investment in the first three quarters of 2014 was around $17 billion, a figure that is only surpassed by the peak of the dotcom era in 2000. In recent research by GE, two-thirds of respondents agreed that businesses have to encourage creative behaviors and must disrupt their internal processes in order to do so. What does a successful strategy for responding to disruption look like? How fast have companies responded to digital disruptions? To understand more about how traditional incumbents respond to digital disruption, we conducted research spanning 100+ companies.
Let the games begin - using game mechanics to drive digital transformation - ...Rick Bouter
The document discusses how gamification can help drive digital transformation in enterprises. It provides examples of how gamification has been used to improve employee engagement, training and learning, innovation, and process efficiency. Specifically, it notes that gamification can help accelerate change management by making new processes more engaging. An insurance company was able to streamline its claims process and save $18 million annually by gamifying an employee idea generation tool. The document also discusses how gamification improves employee training retention and speeds up the learning process.
Report 3 the fourth industrial revolution - things to tighten the link betwe...Rick Bouter
This report was all about the fourth stage of the Industrial Revolution made possible by the far-reaching integration of Operational Technology (OT) and Information Technology (IT). The IT/OT convergence and the end-to-end ecosystems that are under development – from design and production to client interaction and advanced Maintenance, Repair & Overhaul (MRO) – enable a future in which appliances, devices, things and machines for professionals and private people will communicate with central systems, with one another, and with users for the purpose of providing the best possible facilities to makers, service providers, legislators and customers.
Source, Sogeti ViNT: http://vint.sogeti.com/internet-things-4-reports/
The Internet of Things: Are Organizations Ready For A Multi-Trillion Dollar P...default default
The document discusses how organizations are preparing for the opportunities and challenges presented by the Internet of Things (IoT). It finds that:
- Most organizations only offer basic IoT solutions and few provide advanced capabilities like remote operation or performance insights. Readiness varies by industry.
- Less than 30% of organizations generate revenue from IoT solutions, though some pioneers like GE have found success. Emerging monetization models include tiered access to connectivity services.
- Integration with third parties is limited, with under 15% of solutions connecting to other products/services. While 60% use partnerships to develop IoT capabilities, few pursue acquisitions or open platforms.
- Organizations face challenges like
I made resume ini shareable format (PDF) from article Tangui Catlin, Jay Scanlan, & Paul Wilmoot (they are from McKinsey) titled "Raising Your Digital Quotient".
I hope this file can be shared to anyone that need it. You can read how McKinsey can estimates your company related to DQ (Digital Quotient).
---------------------
With the pace of change in the world accelerating around us, it can be hard to remember that the digital revolution is still in its early days. Massive changes have come about since the packet-switch network and the microprocessor were invented, nearly 50 years ago. A look at the rising rate of discovery in fundamental R&D and in practical engineering leaves little doubt that more upheaval is on the way.
For incumbent companies, the stakes continue to rise. From 1965 to 2012, the “topple rate,” at which they lose their leadership positions, increased by almost 40 percent1 as digital technology ramped up competition, disrupted industries, and forced businesses to clarify their strategies, develop new capabilities, and transform their cultures. Yet the opportunity is also plain. McKinsey research shows that companies have lofty ambitions: they expect digital initiatives to deliver annual growth and cost efficiencies of 5 to 10 percent or more in the next three to five years.
The innovation game: Why and how business are investing in innovation centersRick Bouter
The document discusses why companies are increasingly launching innovation centers. It notes that 52% of Fortune 500 companies have been disrupted since 2000, so companies need to innovate or risk being disrupted themselves. Innovation centers are teams and sometimes physical spaces located in tech hubs that allow companies to leverage local startups, investors, and academics to accelerate innovation. They pursue goals like developing new products/services, designing business models, connecting with startups, and understanding customers. The document outlines different types of innovation centers and how they can speed up innovation processes.
Digital Transformation Drives 2021 IT Investmentsrun_frictionless
Digital transformation efforts continue to dominate the technology landscape as more IT leaders recognize the need to update hardware and software infrastructure to accelerate strategic products and services for the business. SoftwareTrends conducted a survey of some 1,020 IT executives, directors, and managers between August and November 2020 to better understand the current state of digital transformation efforts across companies of all sizes—and forecast the technology investment plans for 2021.
https://runfrictionless.com/b2b-white-paper-service/
Embracing digital technology a new strategic imperative - capgemini consult...Rick Bouter
This document summarizes the key findings of a survey conducted by MIT Sloan Management Review and Capgemini Consulting on digital transformation. The survey found that while most companies recognize the importance of digital transformation, few have achieved transformational results. Only 15% of respondents were from highly digitally mature companies like Starbucks, which has successfully used technologies like mobile, social media and analytics to improve customer experience and business performance. However, the survey also found that digital transformation is becoming a higher priority for companies and that some organizations are making progress by developing business cases for technology investments and realigning incentives to focus on digital goals.
The document discusses the findings from research on the Industrial Internet. It finds that the Industrial Internet is still in an early stage of development similar to the internet in the late 1990s. The research identifies four phases of evolution for the Industrial Internet, with the near term focusing on operational efficiency gains, and longer term bringing new business models and outcomes through connected products and services. It also finds that the Industrial Internet will significantly impact industries, jobs, skills needs and collaboration across organizations.
Securing the Internet of Things Opportunity: Putting Cybersecurity at the Hea...Capgemini
The potential trillion dollar Internet of Things (IoT) business opportunity rests precariously on one critical factor – security. 71% of executives in our survey agreed that security concerns will influence customers’ purchase decision for IoT products. However, despite increasing cyber attacks and ample warning from security experts, most organizations do not provide adequate security and privacy safeguards for their IoT products. In fact, only 33% of IoT executives in our survey believe that the IoT products in their industry are highly resilient to cyber security attacks. Further, despite rising consumer concerns regarding data privacy, 47% of organizations do not provide any privacy related information regarding their IoT products.
So, why are organizations lagging behind in securing their IoT products and systems? Key reasons for this include an expanded attack surface, inefficiencies in the IoT product development process, and the lack of specialized security skill-sets. For instance, our survey showed that only 48% of companies focus on securing their IoT products from the beginning of the product development phase. Building a secure IoT system begins with the recognition that security needs to be as much of a priority as the features and functionality of an IoT product. The report highlights the key measures that organizations must take in order to put security at the core of their IoT value proposition.
Operations Workforce Management: A Data-Informed, Digital-First ApproachCognizant
As #WorkFromAnywhere becomes the rule rather than the exception, organizations face an important question: How can they increase their digital quotient to engage and enable a remote operations workforce to work collaboratively to deliver onclient requirements and contractual commitments?
As the rise in sophisticated digital technologies drives an exponential change in online customer behaviour, the need for businesses to embrace digital transformation has never been greater.
We can note the great growth of technology and its advantages in people's lives. Communication became much easier, the transmission of news and information to a few touches on the screen. Today, we spend more time connected to the world wide web than on television. E-commerce is another beneficial point brought with the technological flood, the convenience of buying online, receiving the product without even needing to leave the house is a very positive point. You can be entertained on the internet easily by browsing social networks, watching videos, talking to friends, in fact, a multitude of things.
TECHNOLOGY AND ITS IMPACT ON CONSUMER BEHAVIOR.pptxkaterinfz
Technology has greatly impacted consumer behavior. Over half the world now has internet access, allowing them to communicate and access information from anywhere. The COVID-19 pandemic further increased online activity and introduced remote work. Consumers now expect fast internet and prefer online shopping for its convenience and discounts. Online video consumption has also increased, with many using platforms like YouTube, Netflix, and TikTok for hours each month. The pandemic encouraged further online shifts, and most consumers who adopted new digital behaviors plan to continue them post-pandemic. Technology is evolving consumer expectations and driving physical retailers to digitalize or close as shoppers move online.
The digital revolution began in the 1950s but truly took off in the 1990s with the invention of the World Wide Web and the growing availability of affordable digital devices. Today over 4 billion people use the internet globally through computers, phones, and other connected devices. E-commerce is also growing significantly across all retail sectors as more customers conduct online searches and purchases. However, the rapid pace of technological change has disrupted many industries and business models. It remains to be seen how businesses, customers, and societies will continue to adapt to an increasingly digital world.
The introduction of the internet and new technologies has dramatically changed society over the past few decades. People now have access to vast amounts of information online and can connect with others worldwide. New devices like smartphones allow constant connectivity. As a result, how people work, communicate, learn, shop and entertain themselves has been transformed. Younger generations that have grown up with these technologies are even more integrated with the digital world. Further advances like 5G, AI and new devices will continue driving changes to how humans live and interact.
The introduction summarizes how technology has changed the way people live and connect through new devices and the internet. People now have access to vast amounts of information online and can communicate globally. The internet has affected how people work, travel, communicate and entertain themselves. It examines how access to the internet has grown and internet speeds have increased dramatically. It also reviews what devices people use to access the internet, how they search for information, what products are bought online, trends in online video consumption, and popular online activities. New technologies will continue driving changes to how society functions into the future.
The document discusses how digital technology and the internet have evolved and impacted consumers' lives. Some key points:
- Internet access and usage has grown dramatically, with over 4.95 billion users globally spending an average of 6.5 hours per day online. Mobile devices are now the primary way people access the internet.
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The document discusses how the digital economy is growing exponentially due to increasing mobile connectivity, social media usage, and data availability. It notes that digital technologies are being adopted faster than ever, with each new technology reaching 1 billion users in less time than the previous. The digital economy is transforming the insurance industry in India. By 2020, it is estimated that three out of four insurance policies in India will be influenced by digital channels like online purchasing. The document argues that Indian insurers need to act now to capitalize on the opportunities of the digital economy by setting digital goals, adapting business models and capabilities, and accelerating existing digital initiatives.
The document discusses how digital is transforming the insurance industry globally and in India. It notes that:
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COVID 19 has been a caution light worldwide. We must realise that this calamity or crisis happen and is inevitable. It has provoked previously inconceivable uses of technology in all walks of life. Among the socio economic disturbance caused by covid 19, technology will play a vital role in rebuilding the future. This technology transformation or reshaping will result in a contact less society. The current collaboration tools provide for substandard interactions. This review article is an attempt to check out the importance of technology post COVID 19 so that another pandemic would see mankind facing it with modern technologies. Aleena Sabrin | Ajmal Ali | Sarath Krishnan T | Dr. Noha Laj "Technology Post COVID19 - A Review" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-6 , October 2020, URL: https://www.ijtsrd.com/papers/ijtsrd33648.pdf Paper Url: https://www.ijtsrd.com/engineering/civil-engineering/33648/technology-post-covid19--a-review/aleena-sabrin
The document discusses how digital technology and internet access has changed over time and impacted consumers. It notes that global internet users increased from less than 1% of the population in 1995 to 46.1% in 2016. Fiber optic cables have replaced slower copper wires, increasing internet speeds. Today's consumers are heavily engaged with digital devices like smartphones, accessing the internet daily for information, communication, entertainment and online shopping. Popular online activities include social media usage, video consumption which averages 70 minutes per day, and e-commerce, with clothing being a top online purchase. As technology evolves rapidly, modern consumers are defined by their constant connectivity through portable devices.
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Digital technology has impacted the lives of consumers and businesses around the world. With access to the internet and the lowering cost of smart devices, audiences use the internet to improve their daily lives. In this connected world, access to information is seen as a necessity rather than a convenience. You will learn how audiences use technology to find information, to be entertained/informed and to live their lives.
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Digitalization, as we call it today, is sweeping across every aspect of our daily lives in all possible ways. The impact of digital technologies is prevalent in every spectrum of our lives and consequently the current era is also termed as the “digital age”. The process of digitalization started some five decades back with the advent of computing technologies and digital electronics. Today digitalization can be seen as a tool of transformation which extends beyond our lifestyle to the way we transact, interact and conduct business. Across all sectors, be this communication, media, healthcare, retail and manufacturing, we are increasingly seeing the use of digital technology. The landscape of this digital age is increasingly being driven by innovations in e-communications, e-commerce and ever-increasing deployment of the internet to create economies based on high technology, massive communication, knowledge creation and innovation. It is important to understand and appreciate the factors that are ushering in such changes and how these are impacting the modern-day business.
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Catering to 'Generation Now': Making Digital Connections Intelligent, Personal and Always-On
1. October 2020
Catering to ‘Generation Now’:
Making Digital Connections
Intelligent, Personal and Always-On
2. < Back to Contents2 / Catering to ‘Generation Now’: Making Digital Connections Intelligent, Personal and Always-On < Back to Contents
Contents
Click a link below to jump to that section.
3 Introduction
4 Connected life
10 Future of content and apps
13 Making purchasing decisions
16 Personal data, privacy & trust
18 Study methodology
19 Next Steps: Recommendations for
Consideration
Introducing
Generation NOW…
Comprising:
Digital-Native Gen Y (aka Millennials, born 1981-1996)
And Mobile-Native Gen Z (born 1997-2012)
3. 3 / Catering to ‘Generation Now’: Making Digital Connections Intelligent, Personal and Always-On Back to Contents
Introduction
The collective attitudes of Gen Y and Gen Z toward connectivity, content and commerce over the past several
years have significantly altered how brands attract and retain this demographic. COVID-19 has only served to
accelerate the need to meet fast-changing demands in real time or risk irrelevance.
Countless studies show that those born digital (Gen Y, or millennials) and
born mobile (Gen Z) – which together we are terming Generation Now –
bring massive expectations to companies created in the internet era, as well
as established brands with decades of service under their belts.
In February 2020 – just as the coronavirus was beginning to gain speed but
was not yet declared a global pandemic – we conducted a follow-up study to
our 2018 research tracking attitudes, interests and expectations concerning
connectivity, content and commerce among different generations. (See
study methodology, page 18.)
Just a few short months later, COVID-19 proved to be a generational
watershed moment. What September 11th was to Gen X (born 1965 to
1980) and the Great Recession was to millennials, COVID-19 is to Gen Z:
A period of time that fundamentally upended the world as they knew it,
and ushered in a new – or next – normal.
So disruptive has COVID-19 been that it has thrust even die-hard Luddites
into the digital age. While our new generational research shows that
reliance on technology continues its rapid rise, the coronavirus accelerated
its adoption, with “___ from home” (work, school, entertainment, exercise,
graduations, birthdays, happy hours and more) going mainstream – literally
overnight.
Now more than ever, end users demand that technology anticipates their
every want and need, and provides personalized experiences through high-
speed connections anytime, anywhere. But beware, our data shows that
digital fatigue has been on the rise, even before COVID-19 entered
the picture.
4. 4 / Catering to ‘Generation Now’: Making Digital Connections Intelligent, Personal and Always-On Back to Contents
Connected life
5. 5 / Catering to ‘Generation Now’: Making Digital Connections Intelligent, Personal and Always-On Back to Contents
According to our survey, 78% of Gen Z and 79% of millennials say that connected technology makes
their lives easier, and 42% of Gen Z and 48% of millennials talk with a connected device (Siri, Alexa,
Google Assistant, etc.) in some way every day.
All generations depend on a wide variety of specific technologies in their daily lives. Gen Z and millennials depend the most on
texting and instant messaging, while Gen X depends the most on their ability to call.
Dependence upon in current daily life
Ability to call
Ability to find immediate
answers to your questions
Streaming video platforms
Navigation
Social media
Digital streaming
music platforms
Online gaming
Digital assistants
Smart home devices
Ride sharing
71%
64%
73%
56%
58%
60%
34%
22%
22%
20%
76%
69%
70%
66%
59%
56%
36%
35%
35%
28%
81%
65%
57%
52%
50%
33%
24%
27%
22%
16%
Gen Z Millennials Gen X
Source: Cognizant/The Center for Generational Kinetics survey, February 2020
Figure 1
Text, instant message
Ability to call
Ability to find immediate
answers to your questions
Streaming video platforms
Navigation
Social media
Digital streaming
music platforms
Online gaming
Digital assistants
75%
71%
64%
73%
56%
58%
60%
34%
22%
22%
81%
76%
69%
70%
66%
59%
56%
36%
35%
77%
81%
65%
57%
52%
50%
33%
24%
27%
Percentage of people who responded “depend on” or “completely depend on.”
6. 6 / Catering to ‘Generation Now’: Making Digital Connections Intelligent, Personal and Always-On Back to Contents
Even before the pandemic, respondents from all surveyed generations said they foresee an increase
in technology dependence in almost every category in the near future.
Consumer reliance on digital connections or tools stays strong across all categories. In fact, technology dependence is
expected to increase, as summarized on the following page.
Projected dependence in daily life in two to four years
Source: Cognizant/The Center for Generational Kinetics survey, February 2020
Figure 2
Percentage of people who responded “depend on” or “completely depend on.”
Ability to call
Ability to find immediate
answers to your questions
Streaming video platforms
Navigation
Social media
Digital streaming
music platforms
Online gaming
Digital assistants
Smart home devices
Ride sharing
77%
70%
71%
70%
56%
62%
37%
37%
33%
32%
79%
82%
74%
70%
62%
59%
39%
45%
46%
36%
83%
78%
61%
63%
55%
40%
26%
37%
35%
23%
Gen Z Millennials Gen X
Text, instant message
Ability to call
Ability to find immediate
answers to your questions
Streaming video platforms
Navigation
Social media
Digital streaming
music platforms
Online gaming
Digital assistants
77%
77%
70%
71%
70%
56%
62%
37%
37%
33%
82%
79%
82%
74%
70%
62%
59%
39%
45%
78%
83%
78%
61%
63%
55%
40%
26%
37%
7. 7 / Catering to ‘Generation Now’: Making Digital Connections Intelligent, Personal and Always-On Back to Contents
Ability to call
Ability to find immediate
answers to your questions
Streaming video platforms
Navigation
Social media
Digital streaming
music platforms
Online gaming
Digital assistants
Smart home devices
Ride sharing
Gen Z
Millennials
Gen X
THINK YOU’LL DEPEND ON
IN 2-4 YEARS
+6%
+3%
+2%
+6%
+13%
+12%
-2%
+4%
+4%
+14%
+4%
+11%
-2%
+3%
+5%
+2%
+3%
+7%
+3%
+3%
+2%
+15%
+10%
+10%
+11%
+11%
+12%
+12%
+8%
+7%
Gen Z
Millennials
Gen X
CURRENTLY DEPEND ON
Double-digit growth is foreseen in technology dependence for multiple categories in the near future (two to four years).
One example is smart homes.While today digital dependence on apps and devices that run homes doesn’t rank high on the list of technological
priorities, in coming years respondents predict sharp increases (double digits in many cases).The same can be said for navigation apps and virtual
digital assistants.Add the “___ from home” shift brought on by COVID-19 and we now have the need for very smart homes – ones designed for
school,work, entertainment and more.The dependence on technology has only increased in our current era of doing virtually everything at home.
Difference between dependence now and in two-four years
Source: Cognizant/The Center for Generational Kinetics survey, February 2020
Figure 3
Text, instant message
Ability to call
Ability to find immediate
answers to your questions
Streaming video platforms
Navigation
Social media
Digital streaming
music platforms
Online gaming
Digital assistants
+2%
+1%
+1%
+6%
+3%
+2%
+6%
+13%
+12%
-2%
+4%
+4%
+14%
+4%
+11%
-2%
+3%
+5%
+2%
+3%
+7%
+3%
+3%
+2%
+15%
+10%
Gen Z
Millennials
CURRENTLY DEPEND ON
Percentage of people who responded “depend on” or “completely depend on.”
8. The dependence on technology has
only increased in our current era of
doing virtually everything at home.
8 / Catering to ‘Generation Now’: Making Digital Connections Intelligent, Personal and Always-On Back to Contents
9. * I.e., find a place where there is nothing connected.
Source: Cognizant/The Center for Generational Kinetics survey, February 2020
Figure 4
2018 STUDY
Always/Often
Sometimes
Rarely/Never
46%
16%
36%
48%
24%
35%
41%
19%
34%
47%
Gen Z Millennials Gen X
2018 STUDY2020 STUDY
Always/Often
Sometimes
Rarely/Never
Always/Often
Sometimes
Rarely/Never
22%
26%
22%
41%
46%
45%
35%
34%
32%
16%
36%
48%
24%
35%
41%
19%
34%
47%
Gen Z Millennials Gen X Gen Z Millennials Gen X
9 / Catering to ‘Generation Now’: Making Digital Connections Intelligent, Personal and Always-On Back to Contents
Even before the coronavirus hit, people in these age groups were suffering from digital overload,
and feeling the need to get away from technology completely.
Respondents now feel more of a need to escape technology than they did two years ago – an increase of 8% among millennials
and 15% among Gen Z respondents, who say they need at least some time to escape technology. As noted, our survey
was completed a month before the pandemic prompted shelter-in-place orders. In that short period of time, technology
has permeated even more of our lives and increased digital exhaustion, as evidenced by a new phenomenon known
as “Zoom fatigue.”
All generations feel more of a need now to escape technology completely*
than they did two years ago
10. Future of content
and apps
10 / Catering to ‘Generation Now’: Making Digital Connections Intelligent, Personal and Always-On Back to Contents
11. 11 / Catering to ‘Generation Now’: Making Digital Connections Intelligent, Personal and Always-On Back to Contents
No one is walking away from technology, of course. In fact, brands will win the hearts, minds and
wallets of Gen Now by delivering unique experiences – when and how they want them.
These generations have high hopes for what technology will deliver. One example is digital entertainment. With
hundreds of streaming services (and the growing cost to consumers of having multiple streaming subscriptions),
respondents expressed a desire for the way content is offered to be simplified, with nearly half (48%) saying they hope
digital entertainment subscriptions will merge into a single customizable package.
High-speed internet accessible everywhere and merged digital entertainment subscriptions are the technology
advances that consumers most want to be true in the near future.
Technology desires for the near future (two to four years)*
The web/apps will be accessible
anytime, everywhere at high speeds -
no network access (Wi-Fi, etc.)
Digital entertainment subscriptions will
merge into a single customizable package
More digital information will be
delivered the way I want it delivered
(text, images, videos, AR/VR, etc.)
Websites will be fully personalized to
better match my specific interests,
needs, and preferences
The web/apps will be more intelligent
and predict my wants, and
automatically adapt to my changing
needs
Websites will increasingly talk to
each other, so every
site/app/appliance will present a
personalized experience
None of these
60%
50%
43%
36%
33%
27%
6%
56%
49%
43%
40%
36%
38%
30%
31%
7%
58%
45%
34%
30%
11%
Gen Z Millennials Gen X
Source: Cognizant/The Center for Generational Kinetics survey, February 2020
Figure 5
The web/apps will be accessible
anytime, everywhere at high speeds -
no network access (Wi-Fi, etc.)
Digital entertainment subscriptions will
merge into a single customizable package
More digital information will be
delivered the way I want it delivered
(text, images, videos, AR/VR, etc.)
Websites will be fully personalized to
better match my specific interests,
needs, and preferences
The web/apps will be more intelligent
and predict my wants, and
automatically adapt to my changing
needs
Websites will increasingly talk to
each other, so every
site/app/appliance will present a
personalized experience
None of these
60%
50%
43%
36%
33%
27%
6%
56%
49%
43%
40%
36%
38%
30%
31%
7%
58%
45%
34%
30%
11%
Gen Z Millennials Gen X
*Respondents selected all that apply.
12. 12 / Catering to ‘Generation Now’: Making Digital Connections Intelligent, Personal and Always-On Back to Contents
Generation Now embraces the connected life, as long as it’s streamlined and efficient.
The survey showed different generations shared strong opinions about what they expect from their digital world: Above all, they
want easiness and simplicity – in content experiences, home/device connectivity and disconnecting when users need a digital
break. Across the generations,“direct-to” subscriptions (content and apps) are increasingly a part of life, a trend which has
accelerated during COVID-19. Free trials are luring subscribers, but nearly 20% of Gen Now say streaming subscriptions are not
worth it. It will be important to keep a close watch on the value delivered to customers to minimize subscriber churn after the
free trial period.
Across generations, good value is the most important element making content worth paying for.
What most constitutes content worth paying for?*
Source: Cognizant/The Center for
Generational Kinetics survey, February 2020
Figure 6
64%
50%
50%
43%
43%
43%
27%
20%
26%
67%
55%
43%
43%
43%
42%
32%
29%
25%
72%
54%
45%
45%
41%
37%
27%
28%
Good value
Good variety
Specific to my interests
Easy to find what I want
Easily accessible
on all devices
Easy to use
platform or format
New or innovative
Informative/educational
Makes good
recommendations
Gen Z Millennials Gen X
64%
50%
50%
43%
43%
43%
27%
20%
26%
23%
29%
14%
67%
55%
43%
43%
43%
42%
32%
29%
25%
24%
19%
14%
72%
54%
45%
45%
41%
37%
27%
28%
20%
20%
12%
9%
Good value
Good variety
Specific to my interests
Easy to find what I want
Easily accessible
on all devices
Easy to use
platform or format
New or innovative
Informative/educational
Makes good
recommendations
Classic or nostalgic
Interactive (ability to
determine storylines,
plots, endings, etc.)
Immersive (augmented
or virtual
reality content)
*Respondents selected all that apply.
13. 13 / Catering to ‘Generation Now’: Making Digital Connections Intelligent, Personal and Always-On Back to Contents
Making purchasing
decisions
14. 14 / Catering to ‘Generation Now’: Making Digital Connections Intelligent, Personal and Always-On Back to Contents
Price and quality remain top considerations for millennial and Gen Z consumers.
Our study showed that the two most important factors for Gen Y and Gen Z when making a purchasing decision is that it is “reasonably priced” and “high
quality,” with price being decisive to 74% of Gen Z and 82% of millennials, and quality critical to 75% and 81%, respectively. Even amidst the pandemic,
an ongoing Morning Consult study of Gen Z on May 1-3, 2020 found that Gen Z picks quality (with 75% saying it has a somewhat strong impact on brand
loyalty) and price (with 74%) over other brand characteristics.
But how these consumers learn about new products and services, and ultimately what prompts them to buy, are very different among the generations.
Different generations learn about new products from very different sources.
Gen X typically learns about new products from traditional TV, family and friends, while millennials and Gen Z learn about them from social media posts.
Also, Gen Z, more than any other generation, learns about new products from online ads.
How generations typically learn about new products
Social media posts or ads
Through family and friends
Ads for it on TV
Ads for it online
Recommended to me
while searching online
Online influencer/celebrity
recommendation or mention
Email to you direct
from the company
Ads for it on billboards
or magazines
Promoted at an event
21%
17%
9%
20%
8%
9%
3%
6%
2%
25%
17%
17%
12%
10%
6%
4%
3%
2%
15%
23%
28%
11%
10%
3%
3%
2%
1%
Gen Z Millennials Gen X
Social media posts or ads
Through family and friends
Ads for it on TV
Ads for it online
Recommended to me
while searching online
Online influencer/celebrity
recommendation or mention
Email to you direct
from the company
Ads for it on billboards
or magazines
21%
17%
9%
20%
8%
9%
3%
6%
25%
17%
17%
12%
10%
6%
4%
3%
15%
23%
28%
11%
10%
3%
3%
Source: Cognizant/The Center for Generational Kinetics survey, February 2020
Figure 7
15. 15 / Catering to ‘Generation Now’: Making Digital Connections Intelligent, Personal and Always-On Back to Contents
Word of mouth is the most important factor influencing all generations to try a product.
Gen Z is more likely than older generations to be swayed by products that are trending on social media or endorsed
by a celebrity.
Word of mouth, product launches and live product demonstrations would most influence consumers to try a
new product.
This is especially true for Gen X, while Gen Z, more than older generations is influenced to try a new product because
it’s trending on social media or it’s endorsed by a celebrity, athlete or influencer.
What factors most influence generations to try a new product*
Source: Cognizant/The Center for Generational Kinetics survey, February 2020
Figure 8
Word of mouth among
friends, family, coworkers or peers
Product launch of a brand’s
new line, product or service
Events or live product
demonstrations on the uses
and benefits of the product
Trending on social media
Product endorsed by a
celebrity, athlete or influencer
80%
57%
54%
65%
43%
79%
67%
62%
60%
32%
87%
74%
68%
47%
23% Gen Z Millennials Gen X
*Respondents selected their top three
16. Back to Contents16 / Catering to ‘Generation Now’: Making Digital Connections Intelligent, Personal and Always-On
Personal data, privacy trust
17. 17 / Catering to ‘Generation Now’: Making Digital Connections Intelligent, Personal and Always-On Back to Contents
All generations studied are concerned about data privacy and worried their personal information could be
used against them –with older consumers more concerned than their younger counterparts. But millennials and
Gen Z are willing to provide some personal data in exchange for a more rapid online experience.
Our research shows a significant number of people are willing to provide highly sensitive personal data to gain a more customized online
experience. For example, nearly one fourth (23%) of total respondents said they’d be willing to provide their social security number,
40% would provide passport information and 54% said they’d be willing to provide family and friend information. While alarming, it certainly
points to the premium people place on personalized experiences.
All generations are more likely to provide their personal data in order to speed up an online
experience compared to better customizing it
Source: Cognizant/The Center for Generational Kinetics survey, February 2020
Figure 9
LIKELIHOOD OF PROVIDING YOUR PERSONAL DATA
TO BETTER CUSTOMIZE AN ONLINE EXPERIENCE*
LIKELIHOOD OF PROVIDING YOUR PERSONAL DATA
TO SPEED UP AN ONLINE EXPERIENCE*
Very likely
or likely
Neutral
Not at all likely
or not likely
Very likely
or likely
Neutral
Not at all likely
or not likely
30%
40%
30%
43%
36%
21%
38%
38%
24%
43%
33%
24%
48%
33%
19%
42%
35%
23%
Gen Z Millennials Gen X Gen Z Millennials Gen X
LIKELIHOOD OF PROVIDING YOUR PERSONAL DATA
TO BETTER CUSTOMIZE AN ONLINE EXPERIENCE*
LIKELIHOOD OF PROVIDING YOUR PERSONAL DATA
TO SPEED UP AN ONLINE EXPERIENCE*
Very likely
or likely
Neutral
Not at all likely
or not likely
Very likely
or likely
Neutral
Not at all likely
or not likely
30%
40%
30%
43%
36%
21%
38%
38%
24%
43%
33%
24%
48%
33%
19%
42%
35%
23%
Gen Z Millennials Gen X Gen Z Millennials Gen X
* E.g., allowing browser cookies to track online behavior. * E.g., accepting cookies to tailor relevant content; use of auto-fill forms
on social platforms; etc.
18. Back to Contents18 / Catering to ‘Generation Now’: Making Digital Connections Intelligent, Personal and Always-On
❙ Custom 31-question survey (26 new questions, 5 repeat questions from 2018 study)
designed collaboratively by Cognizant and The Center for Generational Kinetics (CGK).
❙ The study was administered to 2,000 U.S. respondents ages 15 to 53.
❙ The sample was weighted to the U.S. Census for age, region, gender and ethnicity.
❙ Survey was conducted online from February 21, 2020 to March 2, 2020.
❙ Figures are statistically significant at the 95% confidence level. Margin of error is +/- 3.1
percentage points.
❙ Note: “Total” in any graph represents the sample as a whole. In an instance that a chart
total for a single select question does not add to 100%, please note that this is due to
the minimal effect of rounding.
Study methodology
19. 19 / Catering to ‘Generation Now’: Making Digital Connections Intelligent, Personal and Always-On Back to Contents
Next Steps: Recommendations
for Consideration
Tapping the potential of a highly connected group:
Where to begin
Over the next three decades, millennials and Gen Z are expected to drive the U.S. economy.And Gen Now will
increasingly live more connected lives in years to come. Cable and telecommunications, media and entertainment
and internet/over-the-top companies should take a number of actions to capitalize on these trends:
❙ Speed up and simplify the online user experience – including digital connections, home networks and
device maintenance.
❙ Build trust through transparency. While concern over the use (or abuse) of personal data remains high,
actual online behaviors haven’t changed much. However, with or without government intervention, brands
must take bold steps to deliver on the value exchange between customer and company so that technology
can intelligently anticipate wants and needs and do so in a simple, transparent way that builds trust.
❙ Focus on value. Answer this question from a customer’s perspective: Is it worth it? This applies to
connectivity, content and commerce. For example, there’s a short “honeymoon” phase with subscription
services at the moment, with the vast majority of respondents saying streaming content adds value. But keep
an eye on the one-fifth who disagree.
❙ Apply technologies that give a more complete view of the customer, predict and improve services
offered, and allow intelligent offerings to be brought to market at an even faster pace.