Your SlideShare is downloading. ×
0
Digital Reimagination: Keys to Winning In The Digital Consumer Economy!
Digital Reimagination: Keys to Winning In The Digital Consumer Economy!
Digital Reimagination: Keys to Winning In The Digital Consumer Economy!
Digital Reimagination: Keys to Winning In The Digital Consumer Economy!
Digital Reimagination: Keys to Winning In The Digital Consumer Economy!
Digital Reimagination: Keys to Winning In The Digital Consumer Economy!
Digital Reimagination: Keys to Winning In The Digital Consumer Economy!
Digital Reimagination: Keys to Winning In The Digital Consumer Economy!
Digital Reimagination: Keys to Winning In The Digital Consumer Economy!
Digital Reimagination: Keys to Winning In The Digital Consumer Economy!
Digital Reimagination: Keys to Winning In The Digital Consumer Economy!
Digital Reimagination: Keys to Winning In The Digital Consumer Economy!
Digital Reimagination: Keys to Winning In The Digital Consumer Economy!
Digital Reimagination: Keys to Winning In The Digital Consumer Economy!
Digital Reimagination: Keys to Winning In The Digital Consumer Economy!
Digital Reimagination: Keys to Winning In The Digital Consumer Economy!
Digital Reimagination: Keys to Winning In The Digital Consumer Economy!
Digital Reimagination: Keys to Winning In The Digital Consumer Economy!
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

Digital Reimagination: Keys to Winning In The Digital Consumer Economy!

216

Published on

Digital, Insurance, Channels, Social, Social Media, Mobility, Study, 2014, Big Data, Analytics, AI,Cloud, TCS, Tata Consultancy Services, Digital Study, Digital Insurance, Digital Strategy

Digital, Insurance, Channels, Social, Social Media, Mobility, Study, 2014, Big Data, Analytics, AI,Cloud, TCS, Tata Consultancy Services, Digital Study, Digital Insurance, Digital Strategy

Published in: Technology
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
216
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
7
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. ‹#› Use Your Client Logo Here
  • 2. NEW WINNERS ARE ABOUT TO EMERGE… Every significant economic shift is accompanied by a dramatic remaking of the major players 
 in the economy tcs.com/insights
  • 3. …WITH THE ARRIVAL OF THE DIGITAL CONSUMER ECONOMY 
 Newly empowered customers with 
 anytime-anywhere 
 access to information 
 Constantly connected via social networks; base purchasing decisions on their peers’opinions tcs.com/insights
  • 4. DIGITAL FIVE FORCES ARE CHANGING THE BUSINESS CONTEXT 1. Mobility lets companies know a lot about their customers in real time 2. Big Data helps make sense of both structured and unstructured streams of information 3. Social Media provides insights into individual preferences without the observer effect 5. AI and Robotics foster automation with deep learning systems 4. Cloud puts formidable computing resources in the hands of small companies with limited budget The Digital Five Forces tcs.com/insights
  • 5. Resolve claims faster with digital 
 tools and processes Anticipate and resolve issues based on sensor data Transfer money to contacts without account details Verify product allocation on store shelves 
 with robots Transfer money to contacts without account details Gain industrial- strength computing capability within budget DIGITAL FIVE FORCES ARE UNLEASHING NEW OPPORTUNITIES INSURANCE POWER BANKING SMALL FIRMS RETAIL tcs.com/insights
  • 6. Companies are faced with the value barrier—
 they can’t increase prices or reduce costs dramatically The influx of‘digital natives’ into the consumer base has increased demand for responsiveness, engagement and individualized attention WHY RESPOND NOW? tcs.com/insights
  • 7. TYPICAL RESPONSES TO THE DIGITAL FIVE FORCES DIGITIZATION DIGITAL TRANSFORMATION What it is Application Impact Increases business velocity Improves brand experience Companies adopt digital devices for communication Companies transform their channels with digital tools Create seamless customer experience online + offline Capture and transmit information 
 in real time Digitization and Digital Transformation are common but inadequate responses to the Digital Consumer Economy Impact limited to channels; other key areas untouched Preserves legacy workflows; rarely transformational Limitations tcs.com/insights
  • 8. DIGITAL REIMAGINATION ™ THE WINNING RESPONSE tcs.com/insights
  • 9. Digital Reimagination™ leverages the Digital Five Forces in combination to create something fundamentally new in six key areas of your company Business Models Workplaces Products / Services Business Processes Customer Segments Distribution Channels Digital Reimagination tcs.com/insights
  • 10. REIMAGINE BUSINESS MODELS ! Continued visibility into the usage of a product could help a company switch to 
 a different business model ! Applicable to jet engines and power generators From Sale to Rent tcs.com/insights
  • 11. Crowdsource product design with social media; tap consumer insights without the observer effect Credit card companies can now monetize the aggregate spend data of their customers REIMAGINE PRODUCTS AND SERVICES tcs.com/insights
  • 12. REIMAGINE CUSTOMER SEGMENTS Mobile and apps provide a wealth of data about individual consumers Micro-segmentation and creation of new segments are now possible tcs.com/insights
  • 13. Companies can redesign existing physical channels An app which helps customers search both the store’s shelves and inventory can help boost sales REIMAGINE DISTRIBUTION CHANNELS tcs.com/insights
  • 14. Insurance companies can automate validation of claims approvals with advanced analytics Reengineer paper-based business processes to make them highly accurate, speedy and responsive REIMAGINE BUSINESS PROCESSES tcs.com/insights
  • 15. REIMAGINE WORKPLACES Better people management with Big Data and AI ! Sentiment analysis 
 of enterprise social networks helps gauge morale without employee surveys tcs.com/insights
  • 16. DIGITAL CONSUMER ECONOMY: TOP FIVE TAKEOUTS tcs.com/insights 1 2 3 4 5 The Digital Consumer Economy is here Digital Consumers demand responsiveness, engagement and individualized attention Companies facing value barrier and saddled with legacy processes run risk of extinction Digitization or Digital Transformation not enough for continued relevance Leverage Digital 
 Five Forces in combination to reimagine all aspects of business key to success FIVE Takeouts
  • 17. DIGITAL REIMAGINATION: FIVE THINGS YOU CAN DO tcs.com/insights 1 2 3 4 5 Find entirely new sources of revenue Increase marketing efficiency, thereby revenues Improve distribution with new digital channels Invest in faster business processes, eliminate legacy workflows Create digital workspaces for millennials TAKE Action
  • 18. ‹#› Use Your Client Logo Here Copyright © 2014 Tata Consultancy Services Limited Join the discussion on Twitter with the hashtag #DigitalReimagination www.tcs.com/insights To learn how to reimagine your business, download whitepaper tcs.com/insights

×