Design experiments in the lab, online, or in the real or virtual world now available, connect the sensor data from eye-tracking, facial expression analysis, skin “conduct,” muscle and heart activity among others, all monitor us. This is, I believe, to gain inside access to our cognitive neuroscience.
by Victor Cherubim
As we look at the technical, perhaps, theatrical breakthroughs that occurred in 2021, partly due to Coronavirus, our personal data has become even more precious now.
From our heart rate, to our lung function monitor and/or even our pace of recovery rate detection, to items of data directly connected to our field of vision, and our other senses of smell, taste, touch and hearing, unbelievable strides are being achieved within a short space of time.
Design experiments in the lab, online, or in the real or virtual world now available, connect the sensor data from eye tracking, facial expression analysis, skin “conduct,” muscle and heart activity among others, all monitor us. This is, I believe, to gain inside access to our cognitive neuroscience.
How we quantify human behaviour insights and biometric research methodologies has also developed, perhaps, as a by-product of this search for innovation. Emotional detection and behavioural analysis tech is collecting, syncing and visualising this sensor data.
Behavioural Data Collection
Behavioural data captures how people – typically customers - interact with products and services, in somewhat greater detail.
The worldwide Web, our mobiles, are the typical behaviour data sources of information. But, there are many other examples, email, SMS, Support and Chatbot’s, Wearables, even Smart appliances, among others.
We are told that the most successful companies, conglomerates, in today’s world use Behavioural Data to drive competitive advantage. Organisations, businesses used to compete on brand, on product, on service, but today, the key is who best understands, knows their customers.
Those who capitalise on the opportunities that “Great Behavioural Data” presents, have an unfair and competitive advantage. They deeply understand how their customers interact across not only their products and service(s), but also of their closest competitors and can make impact for improvements, better pricing decisions, for customer feel good.
The name of today’s business empowerment is without doubt, “great but up to the minute behavioural data”. To miss out on the opportunity to gain a competitive edge is to miss the boat.
The way this is done is to meticulously personalise the experience of customers, both in real time and psychologically.
The drive today is acquiring and retaining clients, its customers. Besides, better forecasting, and offering unique value propositions to their customers, business is removing complexity. The visibility of control of purchase by the customer, is the Company’s aim.
Capture Meta Data
The other aim of the shopping experience for business, is to capture Meta Data with each visit of the customer and to govern the usage of that data for profit, tracking behaviour with complete user anonymity.
This “out of the box” insight into user behaviour is powered by Artificial Intelligence (AI), leveraging or monitoring every customer purchase. In other words, Behavioural Data of each customer is stored as a blueprint of customer identity and is manipulated as it sees fit.
Customers are aware of this Meta Data
Most customers although they are impulsive buyers, are aware of this Data Collection. However, customers equally access products from multiple sources, web browsers, mobile devices, geographic areas and other marketing channels, seeking value for money. But, they are unable to control the use of their shopping experience data collected and stored over years, in Company Databases.
The power of this data by Company Databases is such that they can segment User Behaviour Analytics by various yardsticks including customer satisfaction, location, by device, even by App version or Operating System on customer Laptops.
End to End AI Analysis of Customer Behaviour
Behaviour Analytics is, in my opinion “End to End” monitoring of customer psychology.
Perhaps, like Credit Rating Agencies, there will be advantages to the customer as well. Customer Shopping Profile will enable them to get favourable treatment because of their “Behaviour Score”. This practice is prevalent in China, where “behaviour inducement” offers are somewhat similar concessions as “Party Membership”.
What will marketing trends look like in 2030?
I think we are in an era where Creativity, Technology and Data will continue and take the foothold of marketing culture.
My impression of 2030, perhaps, not only due to Climate Change, is going to be really exciting, as most things may be frictionless for customers, as everything will “turn from product to service”. I can visualise a future where the “Customer is King”. It could perhaps be an “Experience Economy” with a balance between “human creativity” and “machine creativity,”
Will it be convergent and at the same time divergent thinking. Who knows?
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