Transcript Chapter8-McKinsey`s Eight Technology Trends to Watch for 2008

McKinsey’s Eight
Technology Trends to
Watch for 2008
A-Team
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Distributing co-creation
Using consumers as innovators
Tapping into a world of talent
Tapping into a world of talent
Extracting more value from interactions
Expanding the frontiers of automation
Unbundling production from delivery
Putting more science into management
Making businesses from information
Using consumers as innovators
Companies are leveraging so-called “web 2.0” concepts
in increasingly innovative ways. One t-shirt company, for
example, successfully solicits ideas for designs from its
customers.
“Companies that involve customers in design, testing,
marketing (such as viral marketing), and the after-sales
process get better insights into customer needs and
behavior and may be able to cut the cost of acquiring
customers, engender greater loyalty, and speed up
development cycles”.
Making businesses from
information
There are almost a limitless number of possibilities to
identify information “asymmetries” to create new
businesses, such as seeing disconnects in supply,
demand, pricing, etc. Or, information gathered for one
purposes might be used for another.
“A retailer with digital cameras to prevent shoplifting, for
example, could also analyze the shopping patterns and
traffic flows of customers through its stores and use
these insights to improve its layout or the placement of
promotional displays. It might also sell the data to its
vendors so that they could use real observations of
consumer behavior to reshape their merchandising
approaches.”