Asked to rate the benefits they expect to achieve by connecting digitally to customers, the 13 industries rated the benefits differently (Exhibit III-3):
- Banking and financial services, utilities, healthcare and life sciences, media and entertainment, automotive, and utilities view the greatest benefit to be improving the quality of their offerings (i.e., products and services).
- Insurance, retail, travel-related, and banking sectors view the greatest benefit to be improving their current sales and delivery channels.
- Telecom and high-tech see the biggest benefit to be improving the ability to supply their products.
Energy, consumer packaged goods, and industrial manufacturing believe the biggest benefit will be having more accurate demand forecasts. This is to be expected in industries with high supply chain costs in manufacturing and distribution, where companies don’t want to be caught with too much or too little inventory due to erroneously predicting demand for their products.
Exhibit lll-3: Expected Benefits, by Industry