Page 50 - UDYAMA FINAL final for web

DIGITAL AND DATA

The recent hype about Big Data, important for us to keep up, with them. There are five key
changing consumer behavior and whilst understanding their impact reasons why today's consumers
digitization has caught the atte- and relevance to businesses we are so dynamic in nature and why
ntion of all businesses, cons- manage. it is difficult for companies to
ultants and individuals who are deliver the required experience.
connected to the world of know- This article will introduce to a
ledge. Despite this, we have only concept called CDDC (Consumer,
a handful of articles and papers on Digital, Data, Change) and how DIGITAL
the link between these topics. each of these elements are impact
Instead what we have is thoughts ing everything that we do.
in isolation by experts from Gar- 4.1 billion of 7.6 billion popula-
tner to Deloitte, many other dom- tion is digitally connected and the
ain experts have written white CONSUMER POWER internet penetration is increasing
papers and books on each of these at a rapid pace along with digital
topics on how the landscape is platform driven buying. By 2022,
changing at a rapid pace. Some Today's consumer is more power- online retail will reach 17.5%
call it the VUCA era where all of ful than the industry and keeps of total sales and it is growing
these elements will evolve getting stronger each day inviting rapidly.
dynamically and it is really the best businesses to keep up

48 January 2021