Retail: The future of Telco

Most service providers have a multi-channel strategy, or a digital channel strategy, or some strategic objective to achieve “the right channel mix”.  In a typically inside-out view of the world, each new channel that emerges (social media is a “new” channel, for example) is added to the others, and attempts are made to leverage unified processes so that there’s an integrated view of the customer, or a 360 degree view of the customer.

Meanwhile, the entire retail industry is digitizing.  Just as IBM (who, in the interests of full disclosure, pay the wages of your correspondent) is talking about the increased importance of the CMO, Forrester have come out with some new research about how eBusiness is moving to the c-Suite.  Apple has revolutionised the mobile phone business, the telco business, the consumer electronics business, and – crucially – the retail business.  Everyone is racing to catch up, and while the traditional retailers have been lumbering into the online world ten or more years since mainstream internet adoption became real, suddenly they are being overtaken once again by an integrated digital mobile ecosystem that is further eroding retail conventions.  So different retailers have done different things.  Tesco and Walmart developed the online channel but both continue to struggle in a world that moves too fast for their scale; Best Buy still writhes in anguish; and Borders went bust.  Quoting from Peter Sheldon over at Forrester, “In tomorrow’s  Wi-fi connected, digitally enabled store, fixed checkout aisles and cash registers will fade away; instead the entire floor becomes the point of sale.”

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Analytics Matters

Yesterday I watched a TED talk on Lessons from Death Row, where a death penalty lawyer talked about how death sentences were reducing in number because death penalty lawyers were intervening earlier and earlier in the process.  It was easier to avoid the sentence than to correct it, was the logic.  Mr Dow went a step further, however, and said that intervention should happen even sooner – before the murder was committed – because the stories of these guys on death row are 80% the same – broken homes, juvenile justice, and so on.  Appropriate, early intervention could save the lives of these people, and of course their future victims.  In essence, he was saying that everything was predictable.

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