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Tuesday,30-November-2021

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Most Indian firms still short on displaying ‘digital empathy’

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As more and more Indians adopt digital way of life most organisations are still a long way from authentically displaying “digital empathy” and deliver better customer experiences, a new report has stressed.

Just over a third (37 per cent) of Indian executives have significant insights into customer mindset.

“Drivers of purchase, friction points and attribution of how marketing actions relate to customer behaviour fare only marginally better,” according to Adobe’s ‘2021 Digital Trends Report’.

Interestingly, Indian executives are most likely to agree to having significant insight into drivers of loyalty (46 per cent), journeys of new customers (44 per cent) and attribution of how marketing actions relate to customer behaviour (40 per cent).

“Truly committing to customer experience as a growth lever will mean going beyond response and conversion rates, and instead digging into the motivations, frustrations and thinking of customers throughout the customer journey”, said Nitin Singhal, Head, Digital Experience Business, Adobe India.

Even as things start to normalise in 2021, there is a continual need for organisations to move away from siloed work cultures and tide over the market pressures through rapid innovation and product pivots.

According to the research, executives in India (34 per cent) reported their organisations as dynamic, collaborative and flexible amid the market changes, where they work environments were restricted by traditional hierarchies.

Nearly 71 per cent of executives surveyed in India agreed to their customers benefiting from great digital experiences.

“There’s no doubt that business agility and digital maturity will continue to be a differentiator for businesses, even as we move towards a post-Covid economy,” Singhal said.

The research also found that 26 per cent of those surveyed in India are using a cloud-based platform along with other marketing data management systems, confirming a hybrid approach being adopted by many organisations.

“With accelerated digital adoption brought on by the pandemic, new technologies and effective data management tools are necessary for delivering enhanced customer experiences,” said Dharmarajan K, Chief Product and Customer Experience Officer, Tata CLiQ.

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Business

Samsung unveils new auto chips for high-end cars

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Samsung Electronics on Tuesday unveiled three new automotive chips as demand for advanced chips is growing among global carmakers to produce cars with better connectivity and more sophisticated infotainment features.

The South Korean tech giant said its latest chip products are designed to enable faster 5G connectivity needed for downloading high-definition video content, immersive in-car infotainment systems and a stable power supply.

“Smarter and more connected automotive technologies for enriched in-vehicle experiences, including entertainment, safety and comfort, are becoming critical features on the road,” Park Jae-hong, executive vice president of the company’s System LSI Custom SOC Business, said in a statement.

Among the three, the Exynos Auto V7 in-vehicle infotainment system is installed in Volkswagen’s latest In-Car Application-Server (ICAS) 3.1, developed by LG Electronics’ vehicle component solutions division, the company said.

The chip comes with a neural processing unit “for convenient services, such as virtual assistance that can process visual and audio data for face, speech and gesture recognition features.”

Samsung has ramped up efforts to develop advanced chips for cars, a market that has grown significantly in recent years fueled by higher levels of car electrification and a further uptake in electric vehicles, reports Yonhap news agency.

More cars are now being equipped with advanced features like artificial intelligence and 5G-based telecommunications.

London-based research firm IHS Markit forecast the global market for automotive semiconductors to grow 7 percent annually to reach $67.6 billion in 2026.

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Business

Go Fashion shares listed 90% over issue price on debut

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Shares of Go Fashion made its debut on the exchanges on Tuesday with a premium of 90 per cent over its issue price of Rs 690 at Rs 1,316.

On the listing day, the shares of the company settled at Rs 1,250.

“As the number of working women is increasing along with evolving fashion trends, it is expected that the company can have a strong growth momentum,” said Santosh Meena, Head of Research at Swastika Investmart.

“The company has a strong management team with a mixed bag of financials and it is expected that it may perform well,” Meena added.

The investors who got the allotment can put a stop loss of Rs 1,000 and hold the stock with a long-term view, while safe investors can book the profit and wait for new buying opportunities at the lower levels, Meena added.

Founded in 2010, Go Fashion is a women’s wear brand.

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Business

India to see 500 mn 5G mobile subscriptions by 2027: Report

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The 5G technology will represent around 39 per cent of mobile subscriptions in India at the end of 2027, estimated at about 500 million subscriptions, a new Ericsson report said on Tuesday.

The number of smartphone subscriptions is expected to be 810 million at the end of 2021 and is projected to grow at a CAGR of 7 per cent, reaching over 1.2 billion by 2027 in the country, according to the mobility report by Swedish telecommunication giant Ericsson.

The average traffic per smartphone in the India region is the second-highest globally and is projected to grow to around 50GB per month in 2027.

“Total mobile data traffic in India has grown from 9.4 EB (exabyte) per month in 2020 to 12 EB per month in 2021 and is projected to increase by more than 4 times to reach 49EB per month in 2027,” the report projected.

According to Nitin Bansal, Head of Ericsson India and Head of Network Solutions for South east Asia, Oceania and India, Ericsson, 5G will serve as a socio-economic multiplier for the country.

“We are preparing the communication service providers for a seamless introduction of 5G in the country based on our global deployment experience , our innovative and competitive 5G portfolio as well as the 5G trials we are doing with Indian operators to showcase the possibilities with 5G,” Bansal said in a statement.

In the India region, 4G is expected to remain the dominant technology in 2027, however the 4G subscriptions are forecast to drop from 790 million in 2021 to 710 million in 2027, showing an annual average decline of 2 per cent.

The reliance on mobile networks to stay connected and work from home has contributed to the average traffic per smartphone increasing to 18.4GB per month in 2021, up from 16.1GB per month in 2020.

The average traffic per smartphone in the India region is the second-highest globally and is projected to grow to around 50GB per month in 2027, the report mentioned.

Ericsson recently carried out 5G trials with Airtel and Vi, where it demonstrated enhanced mobile broadband and Fixed Wireless Access (FWA) use cases with 5G.

Globally, there has been almost 300-fold increase in mobile data traffic since 2011, the report noted.

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