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Category: Research

Retail News Asia is committed to providing both local and global retailers with the latest Research throughout the Asian market. This on a daily base.

  • 6 key components to effective customer experience

    6 key components to effective customer experience

    Today’s highly competitive retail environment requires that retailers create compelling and unique customer experience (CX) allowing them to have a frictionless shopping experience across all the channels. The customer experience is not confined to a single department or a job role but a holistic organizational effort that requires participation from all the stakeholders within the retail organization. Customer experience is a strategic goal led by the CEO driving the omni-experience transformation within the organization. Consistency across the customer-facing touchpoints is essential to ensure a perfect and consistent customer experience.

    According to IDC experience survey, “consistent experience across different channels of interactions” cited as the number 1 factor by the respondents. Retailers must also orchestrate their channels with business process and support those processes with integrated software systems.

    IDC sees the customer experience as a business strategy that is part of a customer-centric business strategy. Customer experience is one of the four experiences defined by IDC (the other are employee, partner, and supplier). While an organization may have the result of a customer experience in mind, it may choose to pursue an employee experience or partner experience strategy as its means to ultimately deliver a differentiating customer experience. IDC defines customer experience as follows: Customer experience is the entire process over the lifetime of a relationship between customers and an organization with which they engage. In this context, customer experiences can range from a single transaction to an ongoing relationship over a period of many years.

    Key Components of Customer Experience

    • Culture, strategy, and processes. The organization’s culture is central to making a CX strategy work. Leadership must show support for CX initiatives because the ripple effect through the organization is profound. The concrete evidence of this cultural directive should be found in the strategy and processes that support it.

    • Products and services. The product or service that the retailer offers should inherent to the satisfaction of the customer, and it must fulfill a need or demand. The quality of the product or service should also reflect the value for money.

    • People. Customers are obviously at the center of CX. But the company’s employees are just as important, if not more so, as they are in the direct flow of delivering the customer experience. Employees are the advocates and evangelists for the company. In addition, suppliers and partners enable the production, sales, and implementation of the product or service, requiring them to understand the organization’s strategy in order to represent its brand.

    • Information. Information includes all of the content, data, and analysis that are distributed among key stakeholders: the customer and the organization, by employees to other employees, and from partners to customers through the delivery and support of products.

    • Access. Access includes all the touch points through which a customer experiences a retail brand. The consistency of these touchpoints is the powerhouse factor in driving customer experience.

    • Technology. Technology, including both hardware and software, supports and automates the CX environment. Technology should streamline and reduce friction for customers when using digital channels.

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  • Digital driving nearly half of revenue for companies

    Digital driving nearly half of revenue for companies

    Emerging technologies such as AI, the IoT and machine learning have changed the way businesses operate and what it takes to thrive in a digital economy, a new report finds.

    An independent survey of IT leaders in more than 9,000 businesses spanning twenty-four countries across APC, EMEA and the US, conducted by Pure Storage, found that digital solutions drive around half of revenue (47% on average) for organizations, whether through customer facing applications or more back-office functionality.

    But despite this growth, technical complexity and strategic uncertainty from an infrastructure standpoint have prevented businesses from truly becoming digital. Public, private and hybrid cloud, SaaS and traditional on-premises all have momentum, but businesses still lack confidence in where to place specific workloads.

    On average, businesses are running 41% of applications with traditional on-premises IT – higher than both public cloud (26%) and private cloud (24%).

    Public cloud is poised to grow in the next 18-24 months (61% say their use will increase). Alongside this, a combined 87% of respondents see their use of either private cloud (52%) or traditional on-premises (35%) accelerating.

    Despite strong indications of public cloud growth, a significant number of companies that ran workloads in public cloud environments have actually moved some or all of those workloads back on-premises (43% of businesses in North America have done so). In EMEA, 65% say they have reduced use of public cloud in the last 12 months because of security concerns.

    Businesses run approximately one in five applications via SaaS currently (22%), and more than half (51%) see their use of SaaS increasing over the next 18-24 months.

    “Emerging technologies have started to drive true digital transformation, but businesses remain in a cycle of lure and regret when it comes to public cloud,” said Scott Dietzen, CEO of Pure Storage.

    “Rather than being viewed as competing options, companies should embrace cloud and on-premises storage as complementary offerings. By doing so, storage infrastructure becomes agile and future-proof, which drives the data advantage that enterprises seek.”

  • Trojan horse DDoS attacks on the rise

    Trojan horse DDoS attacks on the rise

    The greatest DDoS risk for organisations is the barrage of short, low volume attacks which mask more serious network intrusions,  Corero Network Security has warned.

    According to new Corero research, which highlights DDoS attack attempts against its customers, short, frequent, low-volume DDoS attacks continue to dominate.

    Despite several headline-dominating, high-volume DDoS attacks over the past year, the vast majority (98%) of the DDoS attack attempts against Corero customers during Q1 2017 were less than 10 Gbps per second in volume. In addition, almost three quarters (71%) of the attacks mitigated by Corero lasted 10 minutes or less.

    Due to their small size, these sub-saturating attacks tend to go undetected by IT security staff and many DDoS protection systems. However, they are just disruptive enough to knock a firewall or intrusion prevention system (IPS) offline so that the hackers can target, map and infiltrate a network to install malware and engage data exfiltration activity.

    “Short DDoS attacks might seem harmless, in that they don’t cause extended periods of downtime. But IT teams who choose to ignore them are effectively leaving their doors wide open for malware or ransomware attacks, data theft or other more serious intrusions,”Corero Network Security CEO Ashley Stephenson explained.

    “Just like the mythological Trojan Horse, these attacks deceive security teams by masquerading as a harmless bystander – in this case, a flicker of internet outage – while hiding their more sinister motives.”

    In total, Corero customers experienced an average of 124 DDoS attack attempts per month, equivalent to 4.1 attacks per day during Q1 of 2017. This is a 9% increase in attacks over Q4 2016.

    “Rather than showing their capabilities in full view, through large, volumetric DDoS attacks that cripple a website, using short attacks allows bad actors to test for vulnerabilities within a network and monitor the success of new methods without being detected. Most cloud-based scrubbing solutions will not detect DDoS attacks of less than 10 minutes in duration, so the damage is done before the attack can even be reported,” Stephenson said.

    “As a result, the raft of sub-saturating attacks observed at the beginning of this year could represent a testing phase, as hackers experiment with new techniques before deploying them at an industrial scale.”

    While low volume attacks remain the norm, Corero recorded a significant (55%) increase in large DDoS attacks of more than 10 Gbps per second, in Q1 of 2017, compared to the previous quarter. In addition, while the majority of attacks recorded lasted less than 10 minutes, the data also revealed a slight increase in attacks lasting 20 minutes or longer, with these attacks now accounting for nearly a quarter (22%) of all the attacks recorded.

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  • Avoiding Supplier Sustainability Scandals Through Better SRM

    Avoiding Supplier Sustainability Scandals Through Better SRM

    Corporate ethics are under greater scrutiny than ever before; any failing is rapidly exposed on social media and very soon hits the global headlines. Investigative media – be that online, on television, or on paper – will eagerly expose the latest scandal, whether it’s to do with child labour, slave workers or bribery in high places, while Governments, which must be seen to act, respond with public inquiries, new legislation, or prosecutions. But it’s not just about protecting brand reputation and adhering to regulations, it’s also about being able to reassure and cater for customers.

    Daniel Weston, Chief Operating Officer (Europe), Adjuno, discusses how best to implement effective Supplier Relationship Management (SRM) to help avoid nasty surprises.

    Conscious Consumers
    Many of today’s shoppers want to know exactly where the items they buy come from and that they are sourced sustainably and ethically. Is that garden furniture made from illegally logged rainforest teak rather than the FSC (Forest Stewardship Council) variety from sustainable plantations? Can you trust the supplier to have honestly labelled it as such? As various scandals in recent years have highlighted, what certain suppliers say about their products is not always strictly true, and when the deception hits the headlines then most members of the public will remember the retailer’s name – not the lesser known supplier.

    Our global world is also highly competitive: consumers are increasingly demanding with across to cross-border ecommerce commonplace, while product life cycles grow ever shorter. Add to that concerns over rapidly changing business-to-consumer (B2C) dynamics as well as the total “cost to serve” – as competition and consumer demand increase pressure on high-level services – and the need for good supplier relations becomes ever more significant.

    Implementing Supplier Relationship Management
    Supplier relationship management is all about strategic collaboration with suppliers to add value, minimise risk and ensure consistent and compliant governance. Any SRM implementation should start small with a pilot project involving a handful of key strategic suppliers before embarking on more significant developments.

    Implementing an SRM process is made a lot simpler when following a step structure, such as in the following checklist.

    1. Define objectives and priorities.
    2. Analyse the activities involved, process change needed and the necessary toolkit.
    3. Identify and define the necessary roles and responsibilities.
    4. Assess the maturity of your procurement department and their ability to cope with change.
    5. Establish the internal competences needed and give training where required.
    6. Identify suppliers and their core competencies.
    7. Segment suppliers: identify the strategic with whom to develop SRM.
    8. Examine existing and needed technology.
    9. Establish parameters for measuring and improving supplier performance.
    10. Establish systems to identify and mitigate risk.
    11. Select meaningful KPIs relevant to both you and your strategic supplier.
    12. Ensure both partners in the relationship are committed and all stakeholders throughout the
    13. Don’t expect a one- size-fits all solution: relations with each strategic supplier may take on a organisation aligned unique character.

    Overcoming Obstacles

    Putting a set of standardised, open and transparent SRM tools in place, plus a rigorous and consistent management approach can help improve the chances of SRM success. But there are still several pitfalls to consider and avoid when setting up SRM, three key ones are:

    1. Placing too much focus on costs rather than value
      Effective SRM demands attributes, such as change management, team leadership, and the long-term planning necessary to develop lean and agile supply chains. Too much preoccupation with short-term cost control and it’s back to those old adversarial combats with buyers pushing down the price while disgruntled suppliers watch their profits evaporate.
    2. Lack of specific SRM competencies and skills
      While the right software tools can ease SRM implementation, it is more than just an electronic filing cabinet. The success also depends on the people and processes across both supplier and buyer organisations. For example, this new way of operating may be challenge for those transitioning from traditional procurement departments that have previously been responsible for running sourcing projects and have specialised in taking an adversarial approach to negotiation. Extra training will help to combat any of these sorts of issues.
    1. Non compatible strategic objectives
      SRM also requires that both supplier and buyer adopt a complementary strategy: developing long-term collaborative partnerships will not work if either side is still in combative mood looking for weaknesses to exploit. The decision to introduce and develop SRM needs good executive leadership and agreement from selected strategic suppliers so that they, too, are comfortable with such an approach.

    Conclusion
    There are lots of benefits to supplier relationship management, as well as more sustainable processes and improved customer satisfaction, they generate better access to technological innovations, improved on-time delivery, reduction on inventories, higher responsiveness to customer demand and more product innovation opportunities.

    SRM is not a quick-fix solution, it is a long-term game and involves a strategic approach to business improvement. Success requires commitment and persistence. Especially, in the global economy with ever-increasing competition, where securing a reliable and supportive supplier base is essential: if businesses do not become the “customer of choice” then it is very likely that one of their competitors will. Equally, if procurement departments maintain a traditional adversarial stance, the performance management is poorly monitored or contracts are buried deep in a filing cabinet, then the likelihood of supply chain breakdown increases – and brands will have no excuse when the ethical failings of their suppliers become public knowledge and damage their hard earned reputation.

  • Three in Four Consumers Frustrated by Inconsistent Retail Experience

    Three in Four Consumers Frustrated by Inconsistent Retail Experience

    Not only do today’s shoppers expect a great service experience, they want it to be integrated and harmonised across channels. According to recent research by Manhattan Associates, three quarters of shoppers say they expect a consistent cross-channel shopping experience, yet just 14 percent claim to enjoy such an experience today. With 82 percent stating they expect their online experience to be duplicated in store, and 78 percent saying they feel they know more about the products and services in store than the store associate, it is clear where the consumer thinks retailers need to invest.

    Furthermore, half of the consumers surveyed said they would like store assistants to make personal recommendations in the same way a website already recommends products they might like, indicating that personalisation within every selling channel – not just online – is high up on the consumer’s agenda.

    The rewards for those retailers able to effectively provide customers with a consistent service experience across channels is potentially huge, with 56 percent of the consumers surveyed stating a seamless service capability as the main reason they would be willing to commit their loyalty to a retailer.

    Other key findings include:

    • 45 percent of consumers stated “a reward scheme that gives you exclusive promotional offers” and 35 percent stated “fast delivery” as key reasons they would stay loyal to a retailer
    • 64% of consumers consider “free delivery” as the most important fulfilment option a retailer should offer as part of their online service proposition, ahead of any chargeable option
    • 47 percent view “product advice” and 33 percent of consumers consider “checking stock availability” as the most important aspects of the service provided by store assistants
    • Regarding reasons consumers are more likely to go to a physical store rather than buying online, 62 percent of respondents said “to get the product there and then” and 53 percent stated “to try and feel the products before buying in-store”
    • As to what consumers would like to happen when they go into a store and the product is not available on the store shelf, 42 percent said “they would like the store assistant to check if it is available in a store nearby where they can collect it from” whilst 19 percent stated “they would like the store assistant to order the product for them and have it delivered to their home or to the same store for collection”

    Raghav Sibal, managing director, Australia and New Zealand at Manhattan Associates, commented, “Consumers clearly have an expectation of what a retail experience should look like in today’s digital world and are willing to offer their loyalty in exchange for retailers able to meet that expectation. Now is the time for retailers to invest in technologies that keep them ahead of the curve and take the appropriate steps required to close the gap between customer expectation and today’s reality. Those that do will be the ones that will thrive in 2017 and beyond.”

    The research by Manhattan Associates questioned 2,000 adults in Australia about their shopping experience and expectations.

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  • Virtual Reality: The Future of Retail in Asia Pacific?

    Virtual Reality: The Future of Retail in Asia Pacific?

    New research from Worldpay, a global leader in payments, has revealed that Virtual Reality (VR) and Augmented Reality (AR) technology are slowly gaining ground across Asia Pacific. Chinese consumers are leading the region – and the world – with 95% of survey respondents saying they’ve used VR or AR technology in the past three months. Other APAC markets are more cautious in their VR/AR uptake, yet remain confident that the technology may play an important role in the future of retail.

    Worldpay’s study queried more than 16,000 consumers across eight markets – including China, Japan and Australia in Asia Pacific – to get their viewpoints on VR/AR adoption; from current uptake and future potential, to the technology’s benefits and barriers. In Asia, the research revealed that although China is a leader in the virtual reality revolution, other markets are only at the start of their VR journey.

    In Australia, less than a quarter of survey respondents (22%) say they’ve used VR technology at some point, and a mere 14% describe themselves as early adopters. It’s a similar situation in Japan, where only 19% have tried VR technology – the least of any market surveyed by Worldpay. In contrast, nearly 100% of Chinese consumers surveyed say they’ve tried AR or VR technology at least once, and more than half use these technologies at least once per week.

    Phil Pomford, General Manager for Asia Pacific at Worldpay, said: “China is blazing a trail for VR/AR adoption and showing other Asia Pacific markets what the future could look like. At the moment, the technology isn’t driving a huge amount of uptake in markets like Australia and Japan – but as we’ve seen before, technology can go from zero to a hundred in a very short amount of time. Therefore, with China leading the way, Asian businesses should start investigating the future of VR/AR technology now, so that they’re ready to meet consumer demands as and when they arise.”

    Already, even cautious Asia Pacific markets are demonstrating interest in how VR/AR can improve retail experiences. Of Australian survey respondents, 61% think VR and AR could someday change the way we shop. Two thirds (66%) of Japanese consumers surveyed would like to see more physical stores using VR and AR, and a full 70% would like to see the technology used in retail apps. Unsurprisingly, Chinese consumers’ interest in VR/AR retail experiences is even more enthusiastic – 84% of respondents believe that VR/AR is the future of shopping, 92% say they’d like to see more retail apps make use of VR/AR, and only 1% say they’d never be comfortable making a purchase in a virtual environment.

    Pomford added: “Many merchants are already looking at how VR/AR technology might create new Omni-channel experiences, enhance mobile shopping, and drive the next generation of consumer-led retail innovations. A compelling, immersive and seamless VR experience can drive higher customer engagement and may even have the capability to increase sales. As more companies experiment with VR/AR, they need to consider if VR technology can support purchases as well. Whatever the sales channel, it’s vital to make the payment process both slick and secure for customers. ”

    In response to this, researchers at Worldpay are investigating how shoppers can pay using a credit or debit card while remaining immersed within a virtual environment. The global payments processor has created a proof of concept, which provides the same levels of convenience, and security that shoppers have in-store and online, without needing to leave the virtual world.

    The prototype design uses Host Card Emulation (HCE) to virtualise the purchasing process. The payment uses EMV* technology, and for purchases under £30 (RMB268.25), the prototype works in the same way a contactless payment does – with a tap of the (virtual) card across a (virtual) card machine. For higher value purchases, Worldpay has created a technology called AirPIN. This first of its kind system allows the consumer to see a range of numbers whilst immersed in the virtual world, and then collect the four numbers that make up their PIN, one by one, using their virtual controller.

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  • 40% of the world to use digital commerce by 2021

    40% of the world to use digital commerce by 2021

    Juniper Research predicts that the digital commerce sector is set to see substantial growth in user numbers over the next 4 years, as the number of unique users exceed 3 billion by 2021.

    Juniper has identified two sectors set to drive the digital commerce market, in terms of transaction values; these are digital and physical goods as well as digital banking.

    “When we analyze the digital & physical goods sector in particular; for some time now, it has been clear that the mobile device, whether it be the smartphone or tablet, is becoming increasingly important in the world of e-commerce,” Juniper Research senior research analyst Lauren Foye said.

    Juniper has observed a shift in the market from a position where the smartphone was used as a means for discovery but not purchase, to a situation where the smartphone is used for both product discovery and purchase.

    This trend appears to be a natural progression from the relatively stagnant consumer tablet industry, whose lack of steam has been compounded by the emergence, and prevalence, of larger-screened smartphones offering an improved purchasing experience.

    Indeed, mobile as a whole is gaining traction as a remote goods purchase device, although the smartphone’s growth is accelerating faster than that of the tablet.

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  • Three key areas that will help grow Malaysia’s retail industry

    Three key areas that will help grow Malaysia’s retail industry

    The e-commerce market is one. According to BMI Research, three specific areas: big-box boulevards, e-commerce, and duty-free shopping will be the key growth areas in Malaysia’s retail sector over the coming years. They are attracting significant investment initiatives that are in line with the government’s National Economic Transformation Program.

    The government is currently stimulating public-private investment in modern ‘big-box boulevards’-large scale integrated shopping malls on the outskirts of urban centres. Multinational corporations are predicted to be attracted by Malaysia’s strong outlook for consumer spending.

    “We forecast total household spending in Malaysia to expand at an annual growth rate of 7.5% between 2017 and 2021, rising from MYR774b ($250.12b) in 20 17 to MYR1t ($323.45b) in 2021,” BMI said.

    Malaysia’s e-commerce sector is still noted to be nascent, with consumers generally preferring to shop using cash in local stores due to a lack of trust with regards to online payments. However BMI estimates that this will gradually change as consumer purchasing habits evolve, supported by the government’s National e-Commerce Strategic Roadmap.

    “We forecast Malaysia’s e-commerce market to reach MYR21.04b ($6.81b) in sales in 2017, a 28.2% y-o-y increase,” BMI said.

    Malaysia’s tourist industry is another key part of the government’s economic transformation strategy, and like retail, is one of the 12 designated areas for investment. The government’s aim is to position Malaysia as a duty-free shopping destination for the Asia-Pacific Region, centred upon Kuala Lumpur International Airport.

    “Our forecasts for tourist arrivals into Malaysia will underpin growth in duty-free retail sales. 2017 will see 28.1m international tourists , rising at an average of 5.2% y-o-y to hit 34.3m by 2021. This will be driven by ongoing weakness in the Malaysian ringgit, making the country affordable for tourists,” BMI said.

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  • Slow US retail growth filters through to Asia

    Slow US retail growth filters through to Asia

    Retail sales for April in the US rose slightly to 0.4%, up from 0.1% in March. Although this growth is some cause for encouragement, it was expected to be as high as 0.6% for last month. The fragile picture for the retail sector in the US is having a noticeable impact on many of its key trading partners throughout Asia.

    China, South Korea and India are amongst the US’ biggest trade partners. Exporting goods such as electronics and clothing, they all see the country as a major export market. With demand for Asian goods sluggish, there are tentative signs that the picture for retail sales across the region are beginning to slow down.

    For April, Chinese retail sales grew by just 0.79%, down from 0.84% in March. In January, sales growth stood at an even more unimpressive amount of just 0.51%, so there has at least been a small upturn. Part of that is down to other factors, most notably industrial production.

    Industrial output

    Elsewhere in Asia, industrial output figures seem to correlate with the slow rate of retail growth in the US. Japan is a prime example, with output figures for March contracting. In that month, industrial output nationwide shrank by 2.1%, coming soon after a rise in output for February. Concerns over the historically strong Japanese tech sector have been prevalent for a while.

    The picture in other major Asian markets for industrial output is mixed. Growth in India is erratic – contraction in output was recorded in five of the last 12 months. In South Korea, figures for March are positive, but contraction occurred in January and February.

    Low demand for home-made products, alongside similarly low demand from the US and sluggish industrial output could all hint at a more prolonged economic malaise. When spread betting, the most sensible choice would be to back against share price rises for major Asian retailers.

    Malaysian recovery 

    One possible ray of light for Asian retail is Malaysia. Despite some of its’ neighbours not performing too well, retail sales growth is pretty healthy. The most recent monthly figures saw month-on-month growth of 4.7% for March, jumping from a position of slight contraction for both January and February.

    Among the reasons behind the growth include wider economic growth exceeding expectations for the first quarter of 2017 and increased consumer confidence. Interest rates have remained steady, but the bad news coming from across the Pacific Ocean is likely to dent confidence going into the summer months.

    The future for retail in Asia is a little uncertain. The contractions and slow growth experienced in Malaysia, China and Japan may return, with one eye focused on how events are unfolding in the US and Europe.

    Should all go to plan and retail sales in the US return to more favourable levels, there is a possibility that the feelgood factor will move to Asian markets. More demand from consumers would equate to higher sales to US firms by Asian manufacturers, but it remains to be seen how this scenario would be played out.

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  • The age of self service data

    The age of self service data

    A recent EY– Forbes Insights research report  clearly shows the value organisations get from the strategic use of data; the most mature respondents of its survey were found to be considerably more likely to enjoy growth in revenues and operating margins of 15% or more, along with significant improvement in their risk profile.  No wonder all areas of the business are looking to data to support their drive for modernisation and transformation.

    A challenge is that across the organisation there are many different requirements being placed on a company’s data – and until now access to analytics was reserved for either the data scientist or business users needed significant IT support, just to get a limited set of standardised set of reports run at set times.

    So how can an enterprise make sure all these demands are met with the right data at the right time and in the right format, giving each department and job function the ability to use data they need – in short, how can we facilitate the age of self service?

    Let’s take two examples of how requirements can differ, and why opening up an organisation’s data to self service should be a priority.

    It is often the Marketing department that is the first to harness data driven technologies and tools.  Those that are the most mature and comprehensive in their use of analytics, as compared to their peers, have been shown to gain a 56% greater return on marketing investments, and 10 times greater year on year increase in annual revenue. Common initiatives focus on seeking cross channel insights, better targeting of customers in real time with the next best offer, improved customer engagement and ultimately demonstrating how their actions contribute to the bottom-line.

    Other areas of the business are also turning to data for help; take HR, for example. Similar to Marketing, companies advanced in employing workforce analytics consistently outperform competition, increasing revenue per employee by up to 26% and being 2.5 times more likely to improve their leadership pipeline. They are looking for analytics to help them identify the employee skills and strengths that will help make an impact on business performance, understand workforce challenges, and better align people strategies with business strategies, so that they can more easily attract, nurture, and retain top talent.

    While the business roles, goals and use of data are different, there are common themes: the need to use multiple data sources, present data visually in a simple and easily understandable way, and demonstrate business impact. To deliver on these business goals, enterprises must empower staff to self service data so that they can be met without the need for expensive, time consuming and sometimes restrictive technical or IT support.

    What does this mean in terms of how data should be handled and distributed in an organisation? How can the age of self service data be made a reality?

    A driving force for democratising data in the workplace is the cloud.  Making enterprise class analytics available to all and from anywhere, quickly and cost-effectively, it is also bringing new and powerful visualisation technologies into the hands of the business user.

    Able to be deployed as a hybrid solution, new cloud-based analytics capabilities can be linked to data sources which can remain either in place, on-premises, in the cloud or a mixture of on-premises and the cloud, giving massive flexibility.  It helps organisations quickly and easily dip a toe in the water and test out the cloud or undertake a managed transition, thereby avoiding a “big bang” approach. Given that most companies have multiple legacy systems at different stages of their lifecycle, it enables them to gain maximum value from past investments.

    Gaining maximum value from these new investments is also key.  With cloud, it can be all too easy for the different departments to go out and buy in a SaaS solution.  This can lead to there being different solutions in place across the company that do not work together and as a result create new data silos.  As the true value of data is gained, when it can be pooled so that everyone can access it and unexpected correlations made, it is essential that IT has a part in the implementation of these new solutions. That way the entire organization’s analytics needs can be catered for and underpinned by a platform for success.

    The age of self service data is a business need today. The key is to look across the business at each job role or line of business and seek to understand their different requirements will evolve for the future, not just today. This approach will also lead IT to be an enabler for an organisation that maximises value from data in unique and impactful ways.

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  • TV as a Service market to reach $1.5b in 2021

    TV as a Service market to reach $1.5b in 2021

    In a recent video software market report, ABI Research evaluates expectations of the new TV as a Service (TVaaS) business model and finds that TVaaS revenues will grow from 10% in 2016 to 35% of video software revenues in 2021. The TVaaS model states that recurring revenues based on video consumption, transactions, or subscriber-related metrics will take over traditional hardware sales, software and IP licenses, and service-related revenues. TVaaS opportunities will grow to $1.5 billion in 2021.

    “Companies that wish to succeed in the TVaaS realm need to commit to customer-oriented solutions, including investing in 24/7 operational capabilities and robust engineering organizations,” said Sam Rosen, managing director and vice president at ABI Research.

    “Solutions need to support the hybrid cloud methodology where they can be deployed in public cloud infrastructure, as well as customer’s own data centers. Also important to operators is the use of microservice-based architectures that allow larger customers to adopt one or two components of a solution around a specific pain point.”

    Most major vendors now demonstrate products with TVaaS components. Major examples include Cisco’s Infinite Video suite, Nagra’s intuiTV product, and Ericsson’s MediaFirst suite. Similar TVaaS trends are also occurring in product lines outside of middleware, including DRM, guide licensing and metadata, transcoding and QoE measurement.

    In terms of readiness to transition to TVaaS architectures and business models, DRM leads the movement at a 56% transition rate by 2021, followed by transcoding and its 36% transition rate within the same time. Middleware, as well as guide licensing and metadata, will only transition to 20% and 12%, respectively.

    “Video software markets are in a period of rapid disruption, highlighted most aggressively by Ericsson’s revelation that its media unit’s operating income showed a loss of 25% of revenues in 2016, accelerating to 33% in the fourth quarter,” said Rosen.

    “To survive the upheaval, these markets must adopt models that showcase a unique balance of service-oriented integration and development offerings, intellectual property (IP) licensing, traditional software licensing and TVaaS.”

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  • Asia ahead of the digital engagement curve

    Asia ahead of the digital engagement curve

    Asian economies are more digitally engaged relative to their global peers at similar stages of development, according to Deloitte.

    The company’s second edition of its Voice of Asia series shows that Asian economies are leveraging digital technologies to help them leapfrog development hurdles, resulting in them winning the race on connectivity.

    Asia has become the center of global economic growth and by embracing digital, it will continue to lead global economic growth over the coming decade.Ric Simes, Deloitte Australia Economist explained that, “digital technologies have been synonymous with rapid and evolving change over the past four decades. While we have made significant progress, we are only at the tip of the digital iceberg when it comes to what’s possible in the future. When applied on a global scale, we can see that Asian economies and societies are at the forefront of this revolution. Asia is leading the way in how digital developments can enable individuals, businesses and governments to do things differently and, often, more efficiently.”

    As the fastest growing region in the world and a significant driver of global economic growth over the past decade, Asia is assuming the digital leadership position in the 21st century. According to the Deloitte digital engagement indices for government, business and consumers, Asian economies are ahead in digital engagement terms, with almost all Asian countries above the world average.

    Government and business engagement is high relative to the rest of the world, with individual engagement about average. The Deloitte digital engagement index scores each countries’ Networked Readiness Index (NRI) against GDP per capita, showing that every country in Asia apart from Myanmar has above average levels of digital engagement for the level of their economic development.

    Singapore and Hong Kong are world leaders, while the large population bases in countries such as China, India, Indonesia and Vietnam have considerable opportunities for the future. In middle-income countries in Asia, governments have been able to maintain strong growth agendas based on policies in areas such as trade, infrastructure and savings. Today, these countries are pursuing growth agendas with digital taking a leading role.

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  • Eye recognition set to rival fingerprints for biometrics

    Eye recognition set to rival fingerprints for biometrics

    ABI Research predicts in a new report that fingerprint sensors in smartphones will surge to reach a 95% penetration rate of smartphone shipments by 2022.

    This will prompt new opportunities for biometric technologies, such as eye recognition, to be utilized as part of novel identification and payment applications for both the banking and governmental markets.

    “While enterprise markets aggressively adopt vein recognition technologies in physical access control applications, eye recognition technologies will soon be one of the most secure modalities for consumer electronics authentication and secure mobile payments,” ABI Research industry analyst Dimitrios Pavlakis said.

    With each passing market quarter, biometric technologies are extending their reach in consumer electronics, while OEMs in the Asia-Pacific region are aggressively driving new implementations.

    This will fuel an exponential growth in mobile banking and payment apps as banks and financial organizations prove to be less timid when embracing new biometric implementations. ABI Research finds that OEMs and service providers are now actively targeting the emerging IoT, smart home, and automotive segments as future growth areas for biometrics.

    “Vein recognition workforce management software and access control solutions in the enterprise market depict an impressive 18% five-year growth rate, boosted by market leaders like Fujitsu and Hitachi,” concludes Pavlakis.

    “Innovative startups like HYPR are making strides in improving biometric blockchain capabilities, while wearable pioneers like Nymi are triggering a domino effect with heart rate-empowered payments.”

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  • What retailers need to know about Artificial Intelligence marketing

    What retailers need to know about Artificial Intelligence marketing

    An influx of new technology and its impact on the retail sector in recent years has given rise to the use of artificial intelligence, bridging the gap between accruing big data and interpreting it for use as a marketing tool.

    According to research firm Emarsys, AI marketing will dominate the industry by mid-2017, meaning digital marketers should be using AI to build a clearer picture of their target audience, boost a campaign’s performance and ROI. And done correctly, it’s all without any extra effort. But, many brands don’t understand what AI is and how they can tap into it.

    What is AI?

    AI uses big data, or the aggregation of large data sets, which are then analysed via machine learning platforms to help identify consumer trends.

    These platforms identify insightful concepts and themes across huge data sets, via algorithms, and fast.  Essentially, the results are an interpretation of emotion and communication, “making these platforms able to understand open form content like social media, natural language, and email responses,” explains Lisa Manthei, marketing communications manager, Emarsys, in a blog post.

    This ensures “the right message is being delivered to the right person at the right time, via the channel of choice,” adds Manthei.

    What does AI look in marketing?

    A major function of AI is using data to break down and understand consumer search engine patterns and algorithms to help marketers identify key focus areas.

    As is, delivering smarter ad content to a brand’s target audience. With more data available, online ads can play off a “shopper’s key word searches, social profiles and other online data for a human-level outcome.”

    Thirdly, a target market –even with common interests and attributes – can be separated, and further targeted, at an individual consumer level. The data can be used to target existing and potential clients, delivering content that is customised to each person.

    Finally, AI plays a role in customer service and retention. Direct-to-consumer engagement channels, namely chat functions, can be run by Bots. Bot-run chat is more efficient and effective as the Bot has access internet data and learning algorithms, something that a human can physically tap in to so easily. With this, AI Bots save on a brand’s human resource power too, so it’s a win-win for brands.

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  • Smartphone owners use an average of 10 apps daily

    Smartphone owners use an average of 10 apps daily

    Time spent in apps has surged to nearly 1.7 billion hours during the first quarter, largely a result of an exploding global user base, according to App Annie’s latest Consumer App Usage report.

    The report reveals that despite each operating system having a separate top trending app category, there is actually no one size fits all app category.

    People now manage their lives with apps as an average of 10 apps are used each day. On average, only 25% to 50% of the apps downloaded are used regularly each month.

    Apps from the Utility and Tools category are most used due to them being pre-installed. This is followed by Social Networking, Communication and Social apps – these make up the largest category by average apps used.

    Android users have over 30% more games than iPhone users, however iOS still leads in gaming revenue due to their higher average revenue per user.

    Singaporeans use an average of 40 apps per month, with around 99 apps downloaded onto their phones. This brings the average daily usage to 12 apps per day – higher than the global average.

    Dating and Productivity apps saw the highest average sessions per day with around four minutes, while Finance and Productivity apps were used for less than one minute per session.

    App usage jumped 10% in the first quarter of 2017 compared to the same quarter of 2016, to reach an average of 192 minutes were spent on apps.

    On global average, over 80% of time spent in apps were spent outside of the country’s top app.

    Key learnings for publishers include, first, there is no one size fits all due to the huge variability across categories in user behaviours.

    Second, brands have to define their KPIs based on the app’s specific use by aligning their engagement strategy with their target users.

    Third, consumers prefer to manage their lives through apps and are increasingly becoming a must-have component for many companies across several industries.

    And fourth, Social Network and Communication apps have heavy influence over users, and underscores the continued importance for marketing efforts for all types of apps.

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