From 2013, when the buzzword “big data” was first muttered, we have come on leaps and bounds with the aid of technology.
Previously, consumers would be concerned about organisations tracking their shopping habits and seeing personalised and targeted adverts online after a Google search.
However signs show that soon this will appear to be the norm. Consumers will volunteer their information in the hope of getting more personalised offers and deals in turn saving them time and money. Cookies will become second nature to web surfers and we will expect targeted deals and for retailers to already know our needs and requirements.
In contrast, 2015 has been a victim of breaches of data and leaking personal details. The recent lawsuit involving phone giant Talk Talk has led consumers to be more wary of the internets powers and security.
So what does the future hold for big data, and where do we go from here
I predict five major changes to big data which I think will appear in 2016 and shape the future of consumer analytics.
(1) Consumers will become savvier
As consumers become more aware that they are tracked and thatinformation is gathered on them via all of their devices, they will become more accustomed to retailers’ games and react accordingly.
While some organisations may use omni-channel data for the benefit of the consumers, others have known to do otherwise. For example, consumers have expressed an interest in a flight online only to return to the site a day later and find the prices have increased. All because the retailers are aware of the demand and your requirement.
Next year, we will see consumers negotiating personal data for special deals, much like what we see with Tesco Club Card vouchers, where purchases are tracked and shoppers sent vouchers for their favourite items.
(2) Mobile apps will be the source of all data
2016 will see us drowning in data from apps. The rise of apps like Tinder and Grindr have allowed for personal data such as preferences, sexual orientation, political views, and more to be collected on a mass scale.
This is nothing new, although previously it was more of a guessing game. Your search history online could help decipher your political stance and Amazon is known to be able to define your sexuality from just a couple of purchases.
With mobile apps, people will volunteer their information is the hope of finding like-minded persons for interactions online.
However, it is predicted that rather than just suggest some relevant reads based on your previous purchases or perhaps offer that winter sweater you looked at online at a discounted price, these apps will collect your details in order to control your behaviours on a larger scale.
While you relax in front of the TV, the “big data” bank has identified that you are worried about your health from all those articles you read online, that your gym kit is wearing thin as you havent purchases one for months and social media shows you work out every day, that your spelling is not as good as it was.
How is data going to change the way you do business Is the rise of “datafication” affecting consumer trends Continue reading on page two to discover how big data trends will evolve in 2016.
(3) Data will be faster than ever before
The creation of software like Apache Spark and other real-time analytics engines will lead to the demand for real time, super-fast data.
With this super-fast data comes more machine processing and less human intervention. Your website will be expected to clickstream data and choose relevant offers and the best layout or design for the reader automatically rather than collect the data and feedback.
Here is the metaphoric travel website of the future. The consumers searches “luxury holidays” in a search engine and gets directed to your specifically designed site for high spend consumers. Here, they will be presented with a dedicated customer number used for call tracking and their movements begin to be recorded. Instant fast analysis shows you that they want deals in Barbados, or beach resorts so your side bar promotions, offers and messages point to what great beach deals you have.
In technical terms, we will be able to set a reaction to any set of consumer movements. The reader clicks on an area of the website the data is then sent to a tool like Hadoop which analysis it in a split second and sends back the required actions to the site.
As well as increasing personalisation and shortening the buying cycle these applications could reduce fraud online.
(4) Everything will be subject to “datafication”
We have already seen the power of connected devices in tracking our behaviour and influencing purchases. This will go one step further in 2016 and every entity will be subject to “datafication”.
We already have the hugely popular fitness trackers watching our every move and relaying it back to organisations who can sell us weight loss pills or gym membership.
The latest addition is sensor-equipped carpets which promise that the elderly will be able to stay independent for longer. How” Well the carpet detects when your movement deteriorate or any stumbles and unbalanced footing and alerts you or your carers.
For consumers, we will be able to track real-time purchase in store with beacons. Data will be sent and processed immediately ready to send you a personalised message on the next applicable offer coming your way along the shopping aisle.
(5) Data privacy laws will struggle to keep up
With the advent of breeches in data security, 2016 will see the law getting more serious about our data.
Current laws are cloudy and lag behind technology and I believe this will continue. With every data breech there will be a new law passed and improvements made but it will not be able to keep up with the rapidly progressing technology in big date.
The future looks promising for retailers with increased insight into our lives. For the consumers it can be just as fruitful if you are aware of the data collected. To get the best deals online or in-store, you need to give a little of yourself to get something back, much like relationships with friends and loved ones.
Gina Hutchings is a consultant at Receptional.
