Image source: Pixabay Digital business transformation is not easy or inexpensive, but the benefits are significant. Scientists from the MIT Center for Information Systems Research found companies that have executed a digital transformation have significantly higher financial performance — with average revenue growth of 17.3 percentage points and net margins of 14.0 percentage points above industry averages. …
Image Source: Pixabay Rule-based systems, process robotics, and machine learning – artificial intelligence (AI) take on many different faces in use. Not all of them are used equally in Germany, according to a Deloitte study. Which AI technologies are companies currently using? What implementation strategies are they pursuing? And where do you see the biggest …
On 4 November 2022, East European University (EEU, Georgia) and its partner E-Commerce Institute (Cologne, Germany) are organizing the joint “International Scientific-Practical Conference (ISPC 2022)” on “Digital Management – Chances and Challenges of Technology” as an online event. The aim is to evaluate the possibilities of digital management under current conditions, highlight technological changes …
Algorithms, data and models are not an end in themselves, because they should ultimately result in increased efficiency in our own production or new products or business models. However, we caution against rushing to develop new ML-based products without increasing OEE to at least 90 per cent in-house. The short excerpt presents three applications. Image source: …
Image source: Pixabay Four lessons to guide the industry’s innovation transformations: With digitally enabled innovation, our work has shown that consumer packaged goods (CPG) companies can bring new products to market 50 per cent faster, at a third lower cost, and with double the return on investment. While the industry has embraced new technologies in …
Image source: Pixabay In this recording from September 2022, Christoph Blumtritt, Team Lead Digital Market Outlook at Statista, shares insights about the ever-changing eCommerce market. The economy as a whole is about to enter an unpredictable era, so it’s time to explore what this could mean for eCommerce. Register and watch for free. In the webinar, …
Image source: Pixabay Companies today need to continuously reimagine themselves to stay relevant. In a hyper-competitive, fast-moving business landscape, we cannot rest on our laurels or put off digital transformation projects for a better time. This mindset is critical to surviving at a time when digital transformation is flipping traditional business models to better enable …
Although online shops remain an important building block in e-commerce strategies, they are increasingly overshadowed by marketplaces in terms of sales. The consequences of the pandemic are reinforcing the trend, as more companies are now showing a presence there, thus increasing the attractive range for customers. With the help of industry representatives and exhibitors such as …
Despite the trend towards online and social media shopping, vital city centers are still popular with young customers when it comes to shopping. This is what a research project by Das Telefonbuch and the University of Koblenz found out. How can local trading companies optimally exploit their potential with Generation Y and Z? Image source: …
The use of social networks is declining slightly. Has the pandemic changed our use of social media? Image source: Pexels Social media suffers from fatigue. During the pandemic, the usage went up significantly. Now, in the perceived “post-pandemic”, the social media focus has worn off a bit. However, not every player is on an equal …
Customer data is the key to a new competitive strategy driven by digital. A new book, The Future of Competitive Strategy: Unleashing the Power of Data and Digital Ecosystems explores ways companies can nurture revenue-generating digital customers. As companies reimagine products and services for the digital world, customer data is the linchpin for creating fresh …
Richard C. Geibel talks about the currently very fast-growing field of social commerce, which represents a new type of combination of social media and e-commerce. On the one hand, functions of e-commerce are adopted in the social media platforms (esp. Instagram, meta, YouTube, TikTok) and on the other hand, elements of social media are …
On 4 November 2022, East European University (EEU, Georgia) and its partner E-Commence Institute (Cologne, Germany) are organizing the joint “International Scientific-Practical Conference (ISPC 2022)” on “Digital Management – Chances and Challenges of Technology” as an online event. The aim is to evaluate the possibilities of digital management under current conditions, highlight technological changes and address …
Almost three-quarters of German consumers are now influenced by product reviews, photos and videos of other shoppers on the Internet when shopping. Shopping via social media channels is also becoming increasingly popular, as a study by the software manufacturer Bazaarvoice shows. Photo by Brooke Cagle on Unsplash The survey with more than 7,000 respondents, including …
The future of retail includes embracing ecosystems and the experience economy, reconfiguring stores, and preparing for Web3 and the Metaverse. Image credit: Photo by Nathália Rosa on Unsplash Michaels, the arts and crafts chain, used to have employees teach art classes at some of the company’s stores. Looking to scale this program, Michaels built a …
New trend check trade shows the potential of the gaming world for trade. Source: Pexels.com After a two-year break, Gamescom in Cologne, the world’s largest trade fair for computer and video games, opens its doors again and visitors can explore the latest games and trends from the gaming world on site. There are many prejudices against …
Many market observers are convinced with the arrival of Metaverse. Like the mobile internet, the new virtual world could change the way companies and brands communicate with their customers and target groups. Since the Facebook parent company changed its name to Meta in October 2021, there has been no stopping it: everyone is talking about …
The number of newly founded online start-ups and mail order companies has increased tenfold within the last 10 years. The increasing digitization of trade and changed shopping habits are playing into the hands of the industry. Image: Pixabay Since the first documented sale of goods on the Internet in August 1994 – a CD by …
Fighting misinformation, understanding powerful algorithms, and mitigating harms are top concerns for social media experts. With social media playing a major role throughout society, understanding how to shape and manage its power is an urgent challenge. Experts discussed the complicated social media landscape and meaningful solutions at the second annual Social Media Summit @MIT, hosted by …
On 4 November 2022, East European University (EEU, Georgia) and its partner E-Commence Institute (Cologne, Germany) will organise the joint “International Scientific-Practical Conference (ISPC 2022)” on “Digital Management – Chances and Challenges of Technology” as an online event. The aim is to evaluate the possibilities of digital management under current conditions, highlight technological changes and …