“Everything that can and should be automated will be automated.” says Brian Burke, Research Vice President, Gartner on their latest Top Tech Trends eBook 2021.
Disruption is the main theme of 2020. The impact has fallen along three themes: People
centricity, location independence and resilient delivery. As organizations continue to respond to the crisis and explore new ways to operate and drive growth, the Gartner top strategic trends highlight areas of opportunity and ways for organizations to differentiate themselves from competitors. In the Gartner ebook, Top Strategic Technology Trends for 2021, they lay out 9 key trends. One of the trends is “Hyperautomation”.
What does Hyperautomation mean?
Business and IT both are looking at using tools like AI, machine learning, event-driven software, robotic process automation. business leaders are seeking for digital operational excellence. Business leaders expect from it a better speed and better customer experience based on data.
Example of Automation in E-Commerce
Let us look at some concrete examples, where machine learning (ML) carries the promise of a better business world. A very hot topic these days is how to automate product & category description for e-commerce. An interesting read is this whitepaper. But the this whole story will not take off, if you don’t have the correct and complete product data to create compelling content, that impacts conversion in e-commerce. In my presentation I looked a concrete example:
If you do not have 30 minutes to watch my presentation, I show you a very simple example, why e-commerce content automation needs trustworthy product information. Just compare these two pictures who paint a thousand words. What is more compelling when you are about to buy a mobile phone online? (Also check out the webinar with the full story.)
My research has shown that the us of PIM impacts conversion rates (+35%), margins (+44%) and time to market (+75%). More details on this can be found on this blog. Beyond product data, there are many more examples, where automation with quality master data can create better experience and improve operational efficiency.
Looking for the Ultimate BBQ Grill? How to move from feature selling to value selling:
In fact, I got the idea for this blog while having a get-together with friends over the weekend. This time, my friend Stefan was in charge of grilling burgers for a total of six guests. As he was cooking, I began to think about what requirements matter important to me when selecting a BBQ grill. I realized I have an ultimate list of requirements for a BBQ grill, so I thought I’d share it here:
- Power: Gas, charcoal, pellet or electric (this discussion can get heated)
- Type: Would you prefer direct or/and indirect
- What you plan to grill: Fish, meat, vegetables
- Speed: Do you like fast and convenient or slow and celebratory?
- Cost: Expensive or budget friendly
- Space and Size: Select depending on the available
What do you think of my list? Did I miss anything you consider crucial? If so, let me know and I will gladly update my list.
As I thought about the list, I realized that both data and machine learning change customer expectations, in particular when selecting household items like BBQ grills.
How? Let me talk about laundry and washing machines first. A manufacturer like Electrolux is using data to help each house find the right washing machine for their household need. In order to do so, in-store staff or configurators on the web, asked questions like: How many people live in your household? How many adults, how many kids? What fashion do you wear? What sports do you play?
You must be wondering, what does this have to do with your BBQ grill? Would it help if you would know things like,”this grill fits 6 steaks, 4 hotdogs and 8 burgers at once”, instead of reading it on a website “the primary cooking surface measures 25.6-inches wide by 18.5-inches deep”. Which information helps find what you require for your family and friends?
If you want go deeper, I can recommend my webinar.
In future blogs, I will look at customer experience, supply chain efficiency, compliance and more use cases. Stay tuned, or leave your comments and experiences.
Blogs worth reading for eCommerce Managers to understand the impact of product content for their conversion rates and cart revenue: