More traditional scientific data is fueling large and small organizations
Implications - Though the phrase Big Data is making waves among marketers, the idea of data analysis is nothing new to those in more scientific industries. With this in mind, it is unsurprising that businesses are now using scientific data to find deeper insights than the simple accumulation of consumers' brand interactions. This speaks to the level of competition and diversity of uses within the world of data.
Workshop Question - What sorts of biometric systems could your brand implement for consumers?
Trend Themes
1. Scientific Data Analysis - More businesses are using scientific data to gain deeper insights and find more diverse uses for their data.
2. Biometric Payment Systems - Multiple companies are exploring new, more secure ways of conducting payment transactions using biometric markers such as facial recognition, finger-vein reading, and sound-based technology.
3. Facial Recognition Software in Retail - Facial recognition software is being used in retail environments to improve customer relationships and satisfaction by detecting unhappy customers and suggesting personalized shopping experiences based on emotions.
Industry Implications
1. Technology - The biometric payment systems trend can be applied to multiple technology-driven industries that require secure and efficient payment transactions.
2. Food Industry - Emotional meal apps that use facial recognition technology to suggest food selections depending on the users' mood can be used by restaurants and grocery delivery services to generate comprehensive consumer data and improve customer satisfaction.
3. Retail Industry - The trend of facial recognition software in retail environments presents opportunities for businesses to personalize customer experiences and gain valuable data insights to improve their bottom line.
