Tag Archives: information technology

Technology, Transparency & Trust

The Three Pillars Defining Our Age

In our last blog, we discussed current pressures impacting the consumer markets, including the FDA’s Public Law 111-353 through its “Food Safety Modernization Act”, as well as from other governmental and ‘watchdog’ groups’ reviewing the food industry.

But we are now living in an age that is going beyond government mandates, because whether you are in the automobile or the peanut butter business, Transparency & Trust have become ‘headline’ concerns not just for regulators but ever more, and no less importantly, for consumers. And, in light of the latest news from the automotive industry, we must now acknowledge the irrefutable reality that there are, beyond government penalties, other consequences for brand equity and the managers who manage it.

In the recent past, most business have lived in the “IT” or Information Technology era, with an emphasis on the ‘T’- the technology aspect of the collection and storage of data. Advances in technology are now pushing us toward the Information (‘I’) age or Zettabyte epoch where the capture, storage and retrieval of information, and its access to all, is virtually unlimited. In this evolving new age, the mantra is … ‘If information can be known … it will be known!’

For today’s ‘Connected Consumer’, the entire universe of information is only a click away. Social media platforms, blogs and apps are keeping everyone constantly connected. Individuals increasingly feel the need to know—and share —everything. Whether its product reviews, political opinions, a family vacation, a dinner pic, or even their innermost thoughts, people are living their lives completely out in the open, laying bare all manner of minutiae online. And, while brands are noticing and looking for new ways to create corresponding connections they, too, are being laid bare.

As a result, consumers today are personally experiencing and demanding Transparency, before giving Trust. For a brand or a business, Trust from their customers and employees is critical. Transparency, is now an information technology mechanism that allows Connected Consumers access to information that defines a certain innate dissonance which always exists between disbelief and belief. Technology and Transparency therefore combine to determine the level –and increasingly a measurable level– of ‘Trust’ that is so critical to the success of a business and a brand.

Russell Ackoff, a noted academic and business consultant, often chided his students and clients to “stop doing the wrong things righter and do the right things.” Technology, Transparency & Trust are forcing marketplace change— a change that no longer allows a business to do the wrong things righter to enhance the P&L—it is a change that requires business to do the right things.

Hail the Consumer!

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As Global Vice President for the Consumer Markets, Michael Forhez, who recently joined 1WorldSync, brings 20 plus years of diversified experience in sales, marketing and management consulting. Frequently called upon to write and speak on subjects germane to the consumer markets, Michael is currently responsible for evangelizing 1WorldSync offerings within the Consumer Products and Retail sectors while engaging various stakeholders to better understand their collective requirements.

A Better Way to Find Stuff Online

Finding and comparing products online is far more frustrating than it needs to be.  Especially if you’re trying to find the online version of a product you found in the store. There is almost no correlation between the offline product world and the online product world. I can say this confidently, because I found out from personal experience recently. Continue reading

The Future of Retail is Cloudy

I recently had a chance to speak with Philip Britt who was writing an article for Enterprise Apps Today about the 9 Tech Trends Transforming Retail. There is one area in particular that we discussed I thought I would spend some more time on here today – the Cloud.

The retail industry is facing a host of challenges today; new regulations (such as EU 1169 in Europe), changing shopping behaviors (Mobile and Online shopping), an increased demand for access to product information (thank you Smartphones), and shifting buying power (Millennials beginning to outspend Baby Boomers). Any one of these challenges over a five-year period would put stress on the infrastructure that most retailers rely on. All 5 at once are causing them to transform the way they operate their business, and the infrastructure they use to do it.

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