“Product” can be a physical object, software, a service, or a combination of these. “Market” can refer to target audience segments, ideal customer profiles, personas, or a combination. The “fit” is the magic. “Product-market fit means being in a good market with a product that can satisfy that market.” -Marc Andreessen, co-author of Mosaic, co-founder … Read more
Artificial intelligence (AI) is significantly enhancing the customer experience (CX) across various industries in several ways: Personalized Experiences Visual Search and Recognition: AI-powered visual search allows customers to find products using images instead of text. It enhances the shopping experience, especially in fashion and home decor industries. Augmented Reality and Virtual Reality: In retail and tourism, AI-enhanced AR and VR experiences allow customers to … Read more
Delivering a high-quality customer experience on a consistent basis converts customers into enthusiastic brand advocates – people who genuinely want to tell their friends and colleagues about the experience your products and/or services deliver. And they might even post on their social media platforms, which is incredibly strong (and essentially free) marketing – boosting levels of … Read more
The right investors can help your startup scale. And for those still in the ideation stages, an investor can mean the difference between your idea leaving the ground or never leaving your head. There are various types of investors to consider, each with their own unique benefits and drawbacks. Understanding the different types of investors … Read more
Multivariate testing (MVT) is a technique for testing a hypothesis in which multiple variables are modified. The goal of multivariate testing is to determine which combination of variations performs the best out of all the possible combinations. It’s more complex than A/B testing, which tests only one variable at a time. How it Works Types of Multivariate … Read more
The Lean institute say 95% of process activities associated with manufacturing ultimately add no value to the customer and HCL Technologies say 70% of the engineering changes which delay production are due to brands trying to retrospectively correct issues with design to deal with assembly, cost & quality problems. Design for excellence (DfX) is a … Read more
Design for excellence (DfX) is a systematic and proactive approach to design that uses the knowledge and experience of experts in other parts of the product development process (test, manufacturing, operations, support, etc.) to ensure the final product can be realized at reasonably low life cycle cost while still meeting reliability, quality, durability, and customer expectation targets. DfX … Read more
According to a report by Fortune Business Insights, the global loyalty management market may expand significantly, increasing from $6.47 billion in 2023 to $28.65 billion by 2030. This represents a compound annual growth rate (CAGR) of 23.7% over the forecast period, which signifies that companies must ensure a better customer experience for their clients. “Customer … Read more
To personalize a consumer experience, you must tailor interactions based on customer data such as demographics, purchase history and preferences. As customer expectations have evolved, so has the need for more sophisticated approaches. Enter hyper personalization. While personalization might involve sending a targeted email based on past purchases, “hyper personalization” predicts future behavior and proactively … Read more
Designing experiences for virtual reality (VR) artificial intelligence (AI) involves considering several key factors to create immersive, intuitive, and engaging interactions. Here’s a breakdown of important aspects to consider: Understanding Needs and Goals Start by understanding the needs, goals, and preferences of your target audience. What are they trying to accomplish in the VR environment? … Read more
Designing artificial intelligence experiences (AIXD) to deliver the right content at the right moment requires a thoughtful approach that combines research, data analysis, and smart algorithmic decisions. Here’s a guide on how to achieve this: Research and Understanding Content Personalization Context Awareness Real-time Data Analysis Dynamic Content Delivery Feedback Mechanisms Transparency and Control Ethical Considerations … Read more
“Better decisions make a better world. However, improving decisions is a messy and difficult thing.” – The Decision Lab There is a common misconception that most people have well-defined preferences and make well-informed, self-interested decisions based on those preferences. Behavioral economics looks at the differences between what people “should” do and what they actually do … Read more