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Oracle The Age of the Individual Is Here
The Age of the Individual
Mass production technologies spawned modern consumerism. While most agree this was a beneficial development that profoundly changed the human experience—it also presented inherent tradeoffs, namely less individualism and personalization in our products and transactions.
The digital age is turning convention on its head as we increasingly expect—and even demand—to have it our way, whether transacting, communicating, working, or simply enjoying leisure time. Welcome to Era I, the Age of the Individual. Millennials and Generation Z behind them lead the way, but the impact of Era I extends well beyond these two demographic juggernauts.
What does this mean for enterprises? Organizations must be ready and able to turn on a dime and deliver content, experiences, services, and technology to individuals however and wherever they desire. So how are the enterprises doing?
Oracle's "The Era I Enterprise: Ready for Anything" report surveyed 300 North America C-level executives—across the communications, education and research, engineering and construction, financial services, healthcare, hospitality, life sciences, public sector, retail, and utilities industries—to understand the emergence of Era I and, importantly, how prepared organizations are to manage this shift.
Key Findings
- Era I is here. 84 percent say their organization has experienced a trend toward customers wanting a more individualized experience, and 70 percent have experienced this trend with employees.
- Most organizations are unprepared. Today fewer than one in five C-level executives give their organization an "A" in its ability to offer highly individualized customer or employee experiences.
- Individualization and agility are key to revenue growth. Organizations say business intelligence tools, customer experience solutions, and other industry-specific applications will play a vital role.
- Additionally, 81 percent believe there is an important link between cloud-based IT solutions and their organization's ability to deliver individualized employee and customer experiences.