Data chiefs who embrace the power of new sources of realtime, contextual information – from smartphones, social media, and ‘the cloud’ – to build a deeper understanding of consumer preference will be the new business gurus, according to Accenture.
The company’s Technology Vision 2012 report predicts that context-based services, in which data is supplied to consumers according to where they are and what their preferences are, will grow strongly this year.
This growth would be prompted by “soaring smartphone usage, the expansion of cloud computing, social media participation, and the development of powerful tools for aggregating and analysing many different forms of data in real-time”, it said.
One example given by Accenture of how context-based services might create new business opportunities is a travel company that scans Twitter accounts in search of mentions about upcoming trips.
It then informs hotels located in the communities where the traveller is heading; the hotel can then contact the traveller with discounted rates.
Accenture chief technology innovation officer Gavin Michael, who spearheaded the research, said: “Those who have started to leverage contextual data and habits are establishing themselves as strategic players within their companies. They are teaming more effectively with sales and marketing and leveraging contextual services to drive new revenue and deliver more value for their businesses.”
