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Catalysed by the rapid proliferation of mobile technologies, Digital Economy will continue to transform how we do business and how we interact with our partners, customers and consumers.

As this process continues to unfold, new entrants and established players alike will be challenged to remain agile and ready to apply existing and emerging technologies to support business goals and exploit the new opportunities that will continue to emerge in this new space. So when we broadly speak about Digital Economy, what are the key trends that businesses should be looking for?

Customer Experience:

The digital environment enable companies to better engage with their customers and offer superior experience at affordable prices, but providing such outstanding experiences to savvy customers is getting more difficult. Customer experience go way beyond perceived Ease of Use and Usefulness nowadays, the digital customer expects for proactive experiences. Personalization is key and Big Data is one of the enablers of proactive customer experience.

A few steps that can improve the online experience is 1) mapping the experience, which shows where value is being gained and lost; 2) turn data into insights; 3) create digital emotional affinity, bringing positive emotions can lead into further customer loyalty; 4) create social business, by integrating social media and e-mail marketing insights into the website ones.

Cyber Security:

As a fast-evolving and increasingly virulent threat environment is raising the security stakes for businesses today. This, combined with the highly distributed and more open nature of today’s enterprises, is testing even the best resourced corporations. Because of the importance of Big Data on Digital Businesses, mentioned previously, companies will continue to leverage data by using it to address the cracks in company security and worries about data privacy. Data security is an investment for each and every stage, and some specialist calls that there is nothing called as perfect security.

Big players moving to cloud:

Cloud computing is basically computing based on internet. It allows people to access to the same kinds of applications and documents through the internet. In short, cloud is fast becoming the new normal for customers and businesses. It is not a surprise that this movement is happening, as it offers many benefits: flexibility, disaster recovery, increased collaboration, work from anywhere, document control and security.

The interesting fact is that the big players are finally moving to the cloud environment and all of them might be there in the next two years. Telefonica, for example, is moving the entire organisation to cloud in 2017. Its CIO informed that the move will help to grow its e-commerce platform and cope with user capacity.

Collaborative Innovations:

Collaboration is indispensable for innovation, both within the company’s own boundaries and beyond, with customers, partners, startups, and research communities.  Thriving companies are taking advantage to build collaborative ecosystems, such as Amazon, PayPal, Apple and Microsoft.

Such ecosystems are particularly important in the emerging Internet of Things, where multiple companies must make sure that their products work with each other in a number of different areas, such as health care and home automation.

These trends enable more than just technological innovation. They provoke innovation in business models, business networking and the transfer of knowledge and access to international markets. That is why Osmii is very excited to attend MWC (Mobile Word Congress) in Barcelona, and specifically excited for the Keynote session: the Digital Economy with Alexey Reznikovich (from VIMPELCOM), John Stankey (AT& T) and Travis Johnson (Ansible).

Osmii always makes sure to be ahead of the game and understand the trends for 2017 and years to come. To learn more about what we do, please contact our digital consultant Sarah Neeworth via sarah.neeworth@osmii.com and visit our website www.osmii.com