Digital intelligence (DI) is the process of collating the big data of customers to analyze and develop insights. These insights can be used to deliver the best and the most relevant experiences to the customer during digital interaction. Digital intelligence technology includes understanding of customers and usage of the company’s website by the customer either through the mobile site or mobile application. The company can use this data to optimize its experience irrespective of time, or place of interaction with the customer. Marketers are able to combine insights from existing, new, and emerging channels which allows them timely, customer-oriented decision-making. Hence, digital intelligence is essentially a modern competitive approach to assess customer expectations and needs. Digital intelligence technology has the ability to transform digital data into real-time data. In today’s changing multi-device and multi-channel world, the digital data collected can be turned into actionable and customer centric insights. Digital intelligence technology is the backbone of customer experience management. Recent trends in digital intelligence technology are rise of the intelligent personal assistant at home, chatbots, data driven decisions and so on.
Growth of the global digital intelligence technology market is fueled by factors such as increasing need to optimize customer experience management (predictive and real time data), increasing public, corporate, and government use of the internet and digital data, growth in voice and video communications on the Internet, and availability of cheap data storage and processing for the digitization of back offices. These factors are expected to contribute to the growth of the digital intelligence technology market. Tools such as online testing, predictive analytics, and behavioral targeting are used by companies to understand web behavior in real time. There are few restraining factors for the digital intelligence technology market such as data security, linking the real time data, and data quality. There are chances of current technology getting obsolete in the mid to long term due to rapid advancements in technology and software in the market.
In recent years, there is an increasing need for deeper understanding of products and its features used by customers and also customer interactions. This is helpful for companies to create the best website or mobile user experience. All this can be achieved through digital intelligence technology, which provides an end-to-end snapshot of customer interaction across various channels such as web, mobile, and offline.
The digital intelligence technology market is segmented on the basis of deployment, end-use industries, and regions. The segmentation on the basis of deployment includes cloud and on premise. Cloud is further sub segmented into public, private, and hybrid. End-use industries of the digital intelligence technology market include aerospace and defense, information and telecommunications, retail and consumer goods sector, manufacturing sector, healthcare, energy, government and public sector, and others. The market is segmented into five regions namely North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America. North America and Europe are the leading regions in the digital intelligence technology market.
Some of the key players in the global digital intelligence technology market include Accenture, Splunk, Inc., Simon Waller, SAS Institute Inc., AT Internet, Digital Intelligence, Inc., ACCESSDATA, Adobe Systems Incorporated, BlueAnt Digital Intelligence Pvt. Ltd., Emerson Electric Co., and so on.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.