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The Accenture Technology Vision 2014
The Accenture Technology Vision 2014 points toward an exciting time of new opportunities driven by the power of technology. To move beyond ERP to the digital enterprise, CPG companies must embrace these trends and connect their ERP to digital technologies to power their digital interactions with a single version of real-time data. The four trends below highlight the digital technologies that will influence CPG companies on the journey to becoming digital enterprises.
Data supply chain. There are vast amounts of data that can be harnessed to help CPG companies make better decisions. Right now, data and analytics are being used in pockets of the organization, thus limiting the ROI and potential value. By making data accessible across the enterprise, CPG companies could apply predictive analytics to improve decisions around products and consumer engagement. In the future, they might also use analytics to inform product development and may hire more analytic talent. Putting this data into circulation calls for an enterprise analytics strategy that prioritizes analytics investments aligned to business goals.
Digital-physical blur. Technology is enabling CPG companies to interact with consumers in context and at the point of sale. Businesses can harness the constant flow of data to personalize interactions and customize offers. The way consumers experience and interact with technology is also changing. Wearable devices are now more prevalent than ever among consumers and within businesses—and this can unlock new opportunities. For example, Gartner predicts that the field service industry alone stands to save $1B annually by 2017 just by using smartglasses.
From workforce to crowdsource. Technology is reaching a point where it’s easy to connect with millions of people in millions of places. In this borderless enterprise, organizations can reach beyond their four walls to use the crowd for new scale and unique capabilities. They can also leverage target consumers to co-create new products, helping guide their choices around flavor, size or assortment. The crowd can also fund these products—crowdfunding creates guaranteed demand – and capital – prior to any investment in a new product. To open the door to crowds, CPG companies will need technology to enable greater collaboration and social reach.
Business of applications. As CPG companies push for greater IT agility in the digital world, there is a sharp shift toward simpler, more modular and more custom apps. In addition to consumers wanting apps to feed their digital desires, customers and employees are looking for consumer-grade experiences everywhere. They are pressing IT to give them the kinds of low-cost, accessible and intelligent apps they use every day on their own mobile devices. The more quickly businesses can create and launch new applications that add value to their products in today’s turbulent markets, the better they can innovate, collaborate, improve consumer experiences and enrich personal interactions.
March 10, 2014
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