Data in Action in the Canadian Marketplace: Making Better Customers

Data in Action in the Canadian Marketplace: Making Better Customers

  • January 2021 •
  • 16 pages •
  • Report ID: 6003990 •
  • Format: PDF
This IDC Perspective looks at data in action in the Canadian marketplace. The initial focus of this study was to assess the role that data plays in industry disruption. What we found is that Big Data and analytics, on its own, does not drive disruption. In the formative days of transformation, data takes a secondary role. Forces such as emerging technologies that create different processes or products and changing customer preferences and underlying market inefficiencies set the stage for shifting market share, relevancy, and long-term survival. A better way, a lower price, and superior products or services are the foundation of change.Data quickly follows the first stage of disruption. As a conventional business model begins to rebalance itself toward the needs and perceived value consumers hold, the opportunities data provides begin to appear."This document describes how data allows firms to build a direct bond with customers, to better understand the customer and create a better experience," says Mark Schrutt, strategic advisor, Innovation and Public Sector Research at IDC.