Coronavirus continues to rapidly and dramatically change and challenge the global economy. Uncertainty abounds. Disruption continues. Messages are mixed.
So how can you forecast what the “new normal” will be? You can’t. But that’s exactly what too many Chief Information Officers and Chief Data Officers are doing.
“The COVID-19 pandemic story is still being written. Given its fluid nature, efforts to forecast the post-pandemic ‘new normal’ are misplaced. Instead, CIOs should consider critical uncertainties through scenario planning related to customer drivers emerging from the pandemic.” Post-COVID-19 Uncertainties: Customer Drivers, Gartner
The Gartner report, Post-COVID-19 Uncertainties: Customer Drivers, shares the following Key Findings:
- “Forced lockdown and social distancing caused a collapse in demand and a switch to digital channels and in-home consumption across wide swaths of the economy. As the pandemic progresses, there is considerable uncertainty over the trajectory of customer demand and future sales volumes.
- Social distancing measures at high scale constrain businesses that rely on delivering a service through a physical presence of customers. The demand may return to normal, but the ability to service the demand is impacted.
- As enterprises re-engage with customers through digital channels for sales, service and distribution, it is unclear how many of these customers will be willing to return to pre-pandemic channels.
- Enterprises are striving to continue serving and supporting their customers as they move toward the renewal phase of the pandemic. However, the fidelity of existing personas and associated journey maps (particularly those created through user experience [UX] research efforts) may be lost or become inaccurate.”
The report offers recommendations and analysis from multiple analysts. Reltio is providing the report with our compliments to help you understand how what we call Responsive Data Management can prepare your organization for these uncertain times, and the volatility ahead.
As digital commerce continues to dominate during the COVID-19 pandemic, Reltio is putting customers on a fast track to getting closer to their customers and transforming their business for digital engagement. Reltio Connected Customer 360 is a cloud data management platform built on a multi-model big data architecture. This provides the agility, flexibility, and scalability needed to meet the real-time needs of digital business. Reltio’s Responsive Data Management approach is essential to succeeding now and in the future.