The Data Age

Big Data and Living in an Age of Data

The Data Age - Big Data and Living in an Age of Data

Smartphones go Mainstream

Smartphones have had a steady rise over the years and for years, people have talked about the promise these phones bring.  However, this year, we finally saw smartphones meet the promises.  During this holiday shopping season, smartphones played a critical role in the habits of many shoppers.  Many for the first time scanned a QR code.

 

So why do these phones matter?  Simple, because they change how people shop.  For example, I can no go on foursquare and see the comments people leave about a place.  Sometimes I will not go to a restaurant based on the comments about bad service.  I can also do a price comparison with Shop Savvy and see what other stores or online vendors.  In fact, during a recent visit I say that the product I was looking at was $10 cheaper at another store in the mall.  Therefore, I went to go buy it, along with other stuff.

 

People also want deals on their phone.  I was debating about buying something and then I saw that I could get $10 off for checking in on foursquare, so I bought it, the $10 off made the price at a level I felt was a deal.  Moreover, this is just the tip of the iceberg.  The way people use their phones is going to really change how we do business.  Not just in retail but all sectors.  It is up to the companies to figure out how to go from an experiment to a completely new way of doing business and that is where the competitive advantages will be.