You're Just Not Ready (Yet) for Cognitive Computing
Nearly two-thirds - 64 percent - of CMOs and sales leaders believe their industries will be ready to adopt "cognitive" technologies in the next three years according to a recently study from IBM.
Cognitive technologies (e.g., cognitive computing) provide an opportunity to understand and reason vast amounts of both structured and unstructured data (including sound and images) in much the same way humans do - through reasoning, learning and interaction.
According to the new IBM Institute for Business Value (IBV) study, “From data deluge to intelligent insights: Adopting cognitive computing to unlock value for marketing and sales," while both CMOs and heads of sales agreed that “customer satisfaction” is the number one value driver for adopting cognitive solutions many of those surveyed say they aren’t sure their organizations are currently set up to make a successful transition.
While traditional analytics can provide data for businesses to draw insights from, cognitive computing (such as IBM Watson) can more easily predict outcomes and turns those insights into actionable recommendations, which can impact real business decisions. The problem, as illustrated in the IBM survey, is that only 24 percent of those surveyed believe they have a strategy in place to implement these technologies today.
For surveyed CMOs, they expect the real advantage of cognitive lies in two key areas: improved customer experience and financial results - including increased financial yields and improved ability to identify marketing ROI.