In this digital era where marketplaces are becoming highly fragmented and the needs of the customers are ever-changing companies need to find a way to differentiate themselves by predicting the customer’s needs and providing them with personalised offers.Code Halos acts as a great forward thinking concept to help companies to create a sustainable competitive advantage in the digital world. Companies like Google, Amazon are successful because they upgrade their competencies, make incremental improvements on a regular basis by embracing and adopting new technologies which takes their business to the next level.
A code halo is the field of digital information that surrounds any noun- any person, place or thing. The halos contain the code that companies, brands, employers and partners can use to enhance their understanding of people or objects. Successful firms in the digital field recognise the power of code halos and the opportunity to insert new capabilities into their existing business models, to maintain, enhance their market share. Companies like Amazon, Netflix understand customer’s likes, dislikes and analyze their code halos.
Every click, swipe, tap and keystroke the customer makes gathers information around him and his devices. Over time highly individualised patterns and detailed correlations emerge. Linking elements of a customer’s code halos allows brands to improve a specific shopping experience. Companies must make effective use of SMAC (social, mobile, analytics and cloud) technologies and leverage on their IT capabilities to add value to their business. Companies need to ensure that they implement a very robust end to end digital transformational framework to succeed in the competitive digital environment. SMAC technologies are the infrastructure of the new code halo economy. Firms can create highly individualized experiences by managing the meaning of the code halo and generating insights of the collected data. Predictive analytics will help in delivering endless personalization in the best possible manner. Transforming Business Digitally
Companies are able to capture and leverage consumer data to generate personalised customer experiences by using sophisticated algorithms that they apply to individual code. Providing the right information at the right place at the right time is the central theme in all forms of code halo implementations.