THE ADVENT OF THE FOURTH INDUSTRIAL REVOLUTIONAccelerate your business alignment to the changing landscape

Each revolution has changed the way that products are created through changing the environment.Each has brought change in: • Increased product standardisation • Increased skills specialisation (and skills redundancy)• Increased automation

Manual labour to machine power

Division of labourMass production

Specialised micro-tasksAutomated production

Rote process automationSmart systems

The 4th revolution is different: it’s changing product to fit the environment / the consumer need.It’s driven by the ability to understand how products are used down to a single entity; and to adjust it based on individual customisation.It will accelerate the types of change seen in the previous revolutions…

What is the 4th Industrial Revolution?

1780 1870 1970 2015

PRODUCT VARIATION

It’s becoming increasingly consumer driven

REMORSE

LACK OF USE

DISPOSAL

AWARENESS

CONSIDERATION

EVALUATION

PURCHASE

LOYALTY

ADVOCACY

FRUST-RATION

POOR SERVICE

FEEDBACK

The Customer Funnel

• What happened to the people who dropped off before purchase?

• When can you first identify behaviours that might lead to purchase intent?

• What happens to the purchasers that don’t become loyal or advocates?

• We need to look at the full customer journey:• Path to purchase

• Service and support

• Ongoing forum / product web traffic

• How your communications are treated

Add context (metadata) to the data:• Date & Time• Channel• Device• Location

etc.

1. Capture all you can2. Connect it all together in a timeline3. Find the common patterns that lead to

retention, cross-sell/up-sell, improved service4. Act upon those patterns: test & learn5. Look at the lifecycle of the product

Listen, Consider, Act

©Experian 2014

Australian Metadata Law (2015)• Not looking for the actual content!• They can get what they need through context &

behaviour

Install The Certus Accelerate Shareable App The Certus Accelerate App will give you access to a host of event related content including: 

Videos Infographics Blogs How to download:  A text will come through saying, “Certus app wants to share the Accelerate app with you.” Simply Tap the link and follow the instructions to download the app. Fresh ideas: New content and features can be added to the app so the experience won’t end once the event concludes, we will continue to update you with new content. 

Act on it; don’t forget to check the outcome

Regular funds transfer to savings

account

Logged inSavings account balance check

Credit card purchase

Foreign currency at branch

Website visit

Offer made Website purchase

Credit card purchase

In the context of banking: Offering Travel Insurance

Purchased Travel Insurance on web

5 x International credit card transactions

Credit card purchase with Expedia

Logged in to check savings balance

Visited branch for foreign currency

Monthly automatic $250 savings xfer with

label “Hols”

Email customers having the same

geodems

Do you have travel insurance sorted?

Visited website looking at travel

insurance

Email alert: Confirming high value spend

Offer: “Need Travel Insurance?”

Scroll: “Tell us when you’re travelling so we don’t block your card”

Banner: Get travel insurance and great rates on currency

exchange

Capture and track everything

In the context of banking: Offering Travel Insurance

Extend the context. Classify and categorise, and enrich the data

Adjust the product, even create new products

Purchased Travel Insurance on web

5 x International credit card transactions

Credit card purchase with Expedia

Logged in to check savings balance

Visited branch for foreign currency

Monthly automatic $250 savings xfer with

label “Hols” Visited website looking at travel

insurance

Regular travel in school holidays

Visiting expensive international restaurants

High correlation between house

move and holiday

Offer Travel Insurance at change of address

time

Offer children’s savings account Offer Wine ClubSavings tracker app

add-on

Regular savings set up

Regular transferRuns for 6 months

Text label => TRAVELText label => LEISURE

Mean time between balance checks

Purchase 40% higher than mean

Text label => TRAVEL

Foreign currency =>TRAVEL

Day = SATURDAYTime = MORNING

Page tag = TRAVELDrop-down = PERSONAL

Day = FRIDAYTime = EVENING

Device = IPAD

Offer rejected, already purchased

Page teg = TRAVELDrop-down = PERSONAL

Region = APACDate = 19/12/2016Duration = 14 days

Region = APACTom Yung Goong =

RESTAURANTValue = $120

Date = 26/12/2016

Taking it to the next level…

• Applying Text Analytics1. Social listening and feedback2. Live chat logs3. Search with natural language4. Claims form completion

… and rethink your service to impact the largest audience

5. Which aspects of your products or services get the most feedback?

6. Are you seeing emerging trends that you could work on proactively?

7. What kind of chat flow leads to a happy customer?8. What phrases should the agent use for best results?

• Consumer expectation is increasingly that: • You’re listening on all channels• You’re there 24x7• You’ll respond on their timeline• You’ll increasingly (and seamlessly)

improve their product

Listen to history:“No business can improve unless it pays the closest possible attention to complaints and suggestions. If there is any defect in service then that must be instantly and rigorously investigated, but when the suggestion is only as to style, one has to make sure whether it is not merely a personal whim that is being voiced. ““[They] listened to the 5 per cent, the special customers who could say what they wanted, and forgot all about the 95 per cent.”

Henry Ford Autobiography 1922

SKILLS SPECIALISATION

We’re all specialists!

Thomas Thwaites: “The Toaster Project”

This is the result:

» It cost £1187.54 to make» It worked for about 5 minutes …

Tried to recreate a £4.99 (<$10) toaster » from scratch» sourcing all of the raw material» by himself

Specialism & Maintenance

Ability of organisations to Service and Maintain assets is being hit:

1. More complex environment2. More rules and regulations3. Expertise takes time and money (and retires) 4. Too much information / unusable in its raw form

» Costs to service and repair increase

» We need to simplify the complexity…

Make / model

Location

Age

Service

Failures

Weather

SensorsMaterial

Manuals

Connections

Tests

H&S

Financial

Enables identification of:• Performance patterns• Drivers for failure• Failure prediction• MTBF based on all factors• Anomaly detection• Poorest & best service• Fraud detection

Our consumer engagement context can extend to understandingand adjusting the way we work too…

As per customer-centric:• Capture all you can• Connect it all together in a timeline• Find the common patterns that

lead to failure, extended life, pre-emptive service

• Act upon those patterns: test & learn

Next steps• Look at the product lifecycle• Integrate predictions into the

maintenance process• Load up the knowledge• Look at Business Process

Management

Asset Intelligence• Enhancing with sensors• Environmental factors• Incorporate usage

Analyst

Modeller

DataScientist

Even the type of data being generated has created more specialisation

Structured

Semi-structured

Unstructured

TransactionsProductsSensors

Maintenance notesComplaintsQueries

Social MediaFeedbackPhotos

Repeated reports and dashboards

SegmentationPredictive Models

New insights building to a business case

Analyst

Modeller

DataScientist

Structured

Semi-structured

Unstructured

Structured

Semi-structured

Unstructured

Simplify the complexity; put the information in more hands

Conf

orm

mor

e da

ta

• Classify metadata from type, location, time, user• Extract subjects, objects, shapes, colours• Pin attributes to structured data

• Summarise / derive content• Create data marts with usable data• Bring in technology to help…

Ease Insight creation

INCREASED AUTOMATION

Time for Cognitive…

The four main characteristics of cognitive systems:

• They are able to learn their behaviours through education• Their primary value is their expertise• They support forms of expression that are more natural

for human interaction• They continue to evolve as they experience new

information, new scenarios and new responses

“as soon as it works, no one calls it AI anymore.” – John McCarthy (who coined the term AI)

We’re seeing an increasing number of ANI systems:

• Cars: anti-lock brakes, GPS with traffic knowledge, Google’s self-driving car

• Smartphone: weather forecast, Pandora, Siri• Computer: Email spam filter, Facebook’s “add a friend?”,

Amazon’s product recommendation

Narrow IntelligenceSpecialist in one area

General IntelligenceHuman Level AI

SuperintelligenceSmarter than us – across the board

Building specialisation and gamification

Canon’s repair techies learn their trade by dragging and dropping parts onto a virtual copier.

Cisco’s myPlanNet enhanced its processes through “Sims”-style acting as CEOs of service providers

MLC health insurance pushing fitness goals through targets on wearables

Associated Press has created thousands of finance articles through ‘Automated Insights’

QBE Insurance box captures and analyses good driving habits for policy discounts

NYU Tandon Fire Research Group is teaching firefighting skills through game-like simulations

Blockchain Supply Chain• Sensors monitor the raw products, parts,

supply, production, and shipment of items• Record workers all the way through the

supply chain• Each phase recorded on a blockchain • Access climate conditions and processes

used in delivering the final product• Helps users (and analytics) to quickly

match faulty products to issues in supply chain – up to years afterwards

Uber is creating its own range of autonomous vehicles

Cognitive development in the short-term

Product Search• Draw in marketing and manuals• Extract facets from text, photo, video• Link with reviews & referrals from influencers• Automatically find comparable or

substitute products

Inter-asset communication• Electricity smart meter receives weather

warning from substation feeder• Starts storing energy into home battery• If outage occurs draws immediately from

battery; if weather passes draws over time

Knowledge Correlation• Load a corpus of disparate knowledge• Use natural language to ask support questions• Convert gut feel to consensus

STEPS TO THE NEXT REVOLUTION

Takeaways

• Emerging technology breakthroughs in fields such as Artificial Intelligence, the Internet of Things, robotics, autonomous vehicles, 3D printing, nanotechnology, biotechnology, energy storage, and quantum computing are changing every business

• Agile, innovative competitors can access and leverage global platforms for research, development, marketing, sales, and distribution, disrupting faster than ever by improving the quality, speed, or price at which value is delivered

They don’t have what you have: a customer base, a brand, a level of trust

• Build on your capabilities step-wise» Listen, Consider, Act (repeat)» Quick win / quick fail» Build interfaces between your main systems

• Embrace the partitioning and automation of work» Business Process Re-engineering» Think APIs and Services» Don’t forget governance and tracking

• Get your data in as many hands as possible» Coherent, consistent, contextual» Simplicity is compelling

Questions?