For decades, we have been able to see how social media has brought us as individuals and made us communicate more. With smartphones and high-speed mobile connections, we are price-conscious when shopping and base our purchasing decisions on product reviews by other customers.
In general, we trust more people than companies and listen carefully to the opinions of our network. We expect companies to be open and transparent in all their operations, as we have access to information anytime, anywhere.
Because we are always used to getting answers easily, our impatience has increased: we expect better service and ready-made solutions from the companies that serve us. When planning our grocery shopping for Christmas, we would like the store to know in advance what we need, and we hope the store will provide us with ready choices and exciting novelties without having to ask for them. These solutions are made possible by the high level of customer information, also commonly referred to as data.
Because every customer is different, collecting data is essential to provide a good service. As customers, we want a service that is tailored to our needs: rewards, useful benefits, interesting recommendations, and life-enhancing solutions. But you will no longer want to pass on your own data to companies without realizing the benefits.
As a result, companies need to develop useful data-based service models for their customers so that they also feel that they are adding value to the information they provide. There is also a clear trend towards privacy: we prefer to disclose data only to those who trust us. However, in all cases, humans cannot make data-based inferences from the data itself, and so we need machine learning,