According to Alain Ozan, vice president, technology at Oracle, a dramatic transition is facing organizations as people are shopping, paying their bills and communicating with each other in a very different way to ten years ago.
Businesses and governments can serve the new generation of consumers only if they update their information technology systems, this is because old information technology cannot cope with the new business needs.
Mobile technology, social media and sensor technology all present opportunities to understand their consumers better, this makes companies more vulnerable to negative customer experiences.
“Not so long in the buyer/seller relationship, the balance of power was with the seller. Companies were able to dictate to the world: ‘This is who we are, here’s what you know about us here’s how you do business with us.’ Now the balance of power has shifted to the buyer. Ten years ago it was okay to have a 95% customer satisfaction rate. Today, that 5% of dissatisfied customers can bring a business to its knees.”
Oracle has over the past few years release hardware and software systems that have been engineered together. You don’t buy the components from different manufacturers and then build your own car, you buy the complete car from one manufacturer and you are assured that everything works as it should. This is the direction in which modern computing is going.