Extreme Customer Intimacy – How Software is Creating New Possibilities
Brad Power, Partner, FCB Partners
Customer intimacy – providing uniquely tailored solutions for each customer based on a deep understanding of the customer’s needs and preferences – is one of three basic customer value propositions. (The other two are operational excellence and product leadership.) With the exponential advances in technology (Moore’s law, Big Data, analytics, AI) and the rising importance of software in the customer experience, it is possible today to build a detailed profile of each customer and deliver unique solutions in real time that weren’t possible even a few years ago.
GE provides a useful example of one industrial company’s response to this new reality. To move fast and connect more closely with customers, GE has embraced “Lean Startup” methods for rapid product development (“FastWorks”), embraced open innovation, and created a new software Center of Excellence in San Ramon, California to provide enhanced analytical skills across all GE businesses.