Conventional wisdom holds that large corporations view the individual customer as just another number. However, many of these companies are now harnessing the power of big data to turn that perception on its head. Using the extensive market research insights they collect, even the largest enterprises can create niche services that cater to individual customers’ requirements and preferences as never before.
Big Data Drives Personalization
Forrester Research calls this The Age of the Customer, reflecting the sea change that has occurred in the 21<sup>st</sup>-century marketplace. Business decisions are now determined by the studied behavior of customers, rather than by the corporations themselves. Many organizations across all industry sectors are moving quickly to adapt their strategies to this new reality.
For example, the energy industry is viewed as being particularly indifferent to consumers, who are the end users of its services. However, even these companies are changing their approach. Royal Dutch Shell LPC has recently introduced its TapUp service, which enables customers to order a tank refill from their homes and skip the drive to the gas station.
Another large corporation embracing more personalized customer services is Disney. Its MagicBand wearable technology allows patrons to design their visit preferences in advance, and to have a personalized, interactive …