According to Optus, the creation of digital and interactive retail environments offering customers sensory experiences, on-demand services and new communications methods is key to retail sector success.
Optus Business managing director John Paitaridis said, “Australian businesses must embrace Industry 4.0 technologies to engage more meaningfully with their customers and optimise emerging business opportunities as we move into the fourth industrial revolution.
“Australians rely on technology in many aspects of their lives – and that is likely to become increasingly true for their purchasing decisions, meaning the retail sector must lead, rather than chase consumer behaviours.
Optus says its business paper recommends a cycle of connect, collect, learn and act to create the personalised engagement which "always on", connected and mobile Australians expect and demand.
“Leveraging the power of Industry 4.0 technologies will help Australian enterprises capitalise on the economic value of personalisation – both locally and internationally,” said Paitaridis. “As technology also simplifies market entry for overseas competitors, keeping up with global personalisation trends and expectations becomes even more critical for Australian enterprises to avoid displacement.”
According to Optus’ Enterprise 4.0 study, enterprises in Australia have been slow to embrace social collaboration tools, with just one-fifth of respondents mandating their use across the entire organisation. Most respondents said the platforms were more likely to be used by siloed, individual teams.
The Path to Personalisation in Industry 4.0 notes that just 41% of the enterprises surveyed are looking to online communities for inspiration – and companies which solely rely on traditional communication approaches miss out on the opportunity to have two way-conversations that could drive peer-to-peer value creations.
“Enterprises must have a robust personalisation strategy in place which leverages the advantages of the Industry 4.0 technologies. Otherwise, they may struggle to sell products and services to tomorrow’s customer,” Paitaridis said.
For more information, and to download a copy of the Optus paper, click here.