8. Data Standards Will Empower Brands To Create True, Unified Profiles
As we move closer to the holy grail of unified customer profiles, the need for true data standards and governance will become even more urgent. The ability to understand a customer’s needs, wants, and value will depend on having access to all data, and have it all in a standardized form.
Currently, a video view can be measured in numerous ways, from watching for two-seconds to whether or not audio is played. And visits are calculated differently as well. We’ll see a move toward standards that are portable across all data, removing the friction and second-guessing that is prevalent today. This will help solve the silo problem and create higher levels of efficiency for organizations that use several different technologies and have relationships with multiple vendors.
The Open Data Initiative by Adobe, Microsoft and SAP is a step in the right direction and it’s expected to gain momentum. This collaboration by industry leaders is open to all organizations and creates an open framework for weaving customer data together.
9. Sentiment Analytics Will Allow Brands To Better Estimate End-User Happiness
The fact that SAP recently acquired Qualtrics validates the prediction that sentiment analytics will get significantly bigger. Customer experience (CX) analytics is a growing trend, where behavioral data is collected with attitudinal and other kinds of data, such as call center interactions, to gain a holistic understanding of a customer’s mood, satisfaction, and loyalty. Experts predict more use of machine learning and AI to get a sense of people’s attitudes or emotional experiences with brands at a much higher scale.
“Expect a trend toward scaled, augmented consumer profiles using customer experience estimates and engagement scoring that goes beyond the traditional public social data, surveys, and call-center data,” said Adobe’s Bates. “Instead, brands will harness the power their owned data, including behavioral interactions with their website and other channels to help determine a positive or negative sentiment.”
Another trend for sentiment analytics is facial recognition. While still in the early stages, Bates predicts it will continue to grow, with analytics measuring facial expressions such as smiles and frowns to determine if an experience is accomplishing the right mood or response.
10. Wearables Will Advance The “Digitization Of The Person”
A research report by Global Market Insights predicts the wearable artificial intelligence market will reach $180 billion by 2025. From earwear devices with biosensors that track heartbeats to customize the user experience, to fitness trackers that can detect heart abnormalities, our bodies are creating a whole new kind of data stream.
Under Armour, which owns Fitbit, is already using this kind of data. The company is mining shared customer data to recommend new products based on an individual’s exercise habits. Expect more brands to follow in their footsteps.
The biggest issues here will be portability of the data and privacy. The idea of data lockers may not be far off, where data subjects can choose which bio data they choose to share, and to whom — from their doctors to their favorite brands. As data privacy advances, users will be more trusting and willing to let brands collect their data because they set the conditions.