The beta blog

< The beta blog | Sep 17, 2014

The digital world of freight haulage

It is hard to think of an industry less likely to conjure up an image of digital revolution than freight haulage, which is more associated with heavy vehicles, roadside cafes and the movement of physical goods around transport networks.

However, at the forefront it is, with haulage firms around the world grasping the potential of the ‘internet of things’, and busily harvesting data from all possible sources and applying advanced analytics to address their biggest business challenges. The industry now abounds with examples:

  • Locus Traxx, a specialist in refrigerated cargo haulage in the US, has wired up its entire fleet with sensors to detect a range of metrics on its containers and the goods inside them – temperature, vibration, door opening events – all of which send data back to HQ in real time. As a result, Locus Traxx is able to immediately identify when its cargo is in danger of being damaged, causing wastage with the inevitable impacts on costs and customer relationships. Through its data approach, Locus Traxx claims to have reduced wastage to zero.
  • Other operators have started to combine vehicle telematics and other journey log data, with HR data on lorry drivers to predict which drivers are most at risk of having a road accident, in order to proactively intervene and address risk factors.
  • Some innovative European haulage firms are collecting journey log data from on-board vehicle systems, and combing this with external data sources – such as weather data - to optimise route planning and freight scheduling, with claims of up to 10% in fuel savings.

Cargo wastage, accidents, fuel costs – data analytics is now having a major impact on some of the haulage industry’s biggest cost drivers, in some cases making a genuinely transformational difference to the operator’s bottom line.

The lesson? Analytics is powering a revolution in the transport and logistics industry. The new digital age is not just about consumer devices, apps and disruptive online businesses. It is also profoundly changing some of the most – ostensibly - old world industries, by enabling the better management of physical assets and real world operations.

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< The beta blog | Sep 15, 2014

The last private equity value creation lever: digital advantage

Last week I led a meeting with the operating partners at a global private equity firm. The firm in question is a market leader whose portfolio spans industries and geographies, ranging from high-growth businesses to mature ones.

In many ways, this firm represents the epitome of what one expects from a generalist private equity firm: smart individuals investing in and transforming a diverse group of companies.

The operators in the room had more years of experience at the ‘coalface’ of operational improvement than I would care to count, but the discussion we were having was about a value creation lever that most of them had yet to grasp: digital advantage.

The word ‘disruption’ is overused and, frankly, abused. However, there is no denying that the rapid advancement of the Digital Age – the confluence of social media, smart devices, big data and cloud computing – represents both a massive opportunity for value creation in portfolio companies, as well a huge threat to existing value for those who ignore its threats and potential.

We view the advance of digital business as coming in three waves. Operating partners, management and entrepreneurs that understand these three waves will be better equipped to defend and create advantage in the Digital Age.

First digital wave

The first digital wave, that of Digital Commerce, has been with us for some time and is typified by previously offline businesses opening up digital channels alongside existing routes to market. This can be extremely valuable for both cost efficiency and top-line growth. But even if Digital Commerce has been with us for many years now, smart devices and an emerging generation of Digital Natives are changing the dynamics and creating new opportunities.

Non Digital Natives typically look at Digital as a channel on which they can transact, implicitly valuing usability and simplicity. Digital Natives typically look at Digital as some sort of “natural language”, and as an opportunity to engage with their own lives and goals in a visual, interactive and engaging way.

That’s why – for example in the retail sector - Digital Natives value not only bringing the store on an online channel, but also bringing digital into a store. They use great digital experiences as their benchmark; they almost want to walk into a website when they shop in the physical world; they want the option to double tap on things, online or not. So even if a company has been online for many years, it is very likely that a great deal of opportunities exist to create additional performance and advantage.

In our view this first digital wave is all about the Economy of Products and Services.

Second digital wave

If the first digital wave is all about advertising, marketing, selling and supporting products and services, the second digital wave is all about helping people achieve goals they care about. Simple goals can be delivered by well-engineered products (to the extreme the goal of opening a bottle of wine can be perfectly “delivered” by the product called “cork opener”).

But as goals become more valuable and more complex, engineering products and services that deliver these goals becomes increasingly hard. A few examples ? Personal fitness, healthy eating, cleaner home, safer driving, greener/cheaper household heating, listening to music that I really like, etc. These outcomes are not for sale per se, because they are not easy to engineer into a specific product or service.

Why not ? Mainly because in order to achieve these outcomes the customer will need three things that are hard to get:

1.They need understanding their own behaviour better

2.They need some help with their discipline and will power

3.They need their partner/supplier to understand their individual needs and wishes really well.

And that’s exactly what Digital technology can help brands and customers achieve today. Sensor technology (e.g. a Fitbit wristband) can help us see what we do. Social media and peer-to-peer comparison can help us stay focused. Platforms as Spotify can capture the unique way in which we listen to music (what, when, how often, etc.) and use this wealth of consumption data to learn and shape our unique music taste. In-car telematics can give us sharper premiums if we are consistently considerate drivers, and even help us drive in a safer or greener way.

The possibilities are endless. And there is also an additional bonus. In this second digital wave we are not transacting; we are playing a “life videogame” that is fun, interactive, engaging and real, because the goals we are going after are real. .

In our view this second digital wave is all about the Economy of Outcomes.


Third digital wave

The third digital wave, that of Digital Identity, will turn the idea of consumption on its head. Consumers’ data, collected by smartphones, fitness wrist bands, smart gas and electricity meters, car insurance monitors and all manner of other sensor devices, is there to be interrogated by trusted businesses, who can then tailor their offers to the individuals, or broker offers from other players in the ecosystem, like for example a reverse auction.

As a consumer, I will release my energy usage data and receive tailored offers from suppliers. I will release data from my music streaming account and it is up to music streaming suppliers to tailor an offer for me based on how expensive my musical taste is.

Of course there are non-trivial privacy issues, and we are squarely in Big Data territory here. But let’s think about this. The Big Data that the customer fears is a scary entity to which you surrender your data, which will do with your data things you are un-aware of for purposes that you have not approved, and which will give you neither ‘editing’ nor ‘deleting’ rights. We call this the “Selling Big Data”. The “Selling Big Data” does exactly what it says on the tin: it harvests and hoards customer data of all sorts, and crunches this data behind the customer’s back with the objective of selling more things and making more money.

“The Selling Big Data” invokes relevance as an honourable justification, but very often it erodes trust. Relevance or not, the “Selling Big Data” works for the seller.

But there is also another version of the story. We call this the “Buying Big Data”.

In this version of the story the customer does not surrender his/her data, but volunteers it. Why ?

Because it helps the customer achieve valuable goals; because the status of the customer as the legal owner of his/her data is recognised and respected; because the customer has full “editing” and “deleting” rights on this data, no questions asked. In this world of “Buying Big Data” the customer is in control, and his/her data is like a currency. That’s the key: in the digital age personal data is not a product to be sold for a bit of money, but a currency in its own right that can be spent to get to things that money alone can’t buy.

The “Buying Big Data” is where the Digital Economy meets the Trust Economy. The “Buying Big Data” is the 4D image of the customer in this digital world, and it works for the customer.

In our view this third digital wave is all about the Customer’s Digital Identity, and a fundamental enabler of the Economy of Wishes.

Implications for PE firms

For private equity firms, financial engineering has been a diminished part of the toolkit for some time now. The industry today works hard to drive operational improvement within its portfolio companies. For the private equity operating partners with whom I talked through these ideas last week, the value creation opportunity presented by the digital revolution is now undeniable. Efficiencies and opportunities abound from the back office, to the front office all the way into to the customers’ homes.

We anticipate that programmes to optimise portfolio companies’ digital fitness will become as important a value creation lever for private equity firms as programmes to reduce costs, improve working capital management and optimise the supply chain. Private equity firms that can demonstrate a positive digital track record will become more attractive business partners and a more compelling investment prospect.

We have helped a number of private equity firms by assessing digital opportunities across their portfolios and undertaking specific digital interventions, as well as supporting deal sourcing and digital due diligence. If you would like to have an exploratory discussion about the digital fitness opportunities within your portfolio, then please contact me on carlo.gagliardi@uk.pwc.com

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< The beta blog | Sep 12, 2014

Guts and Gigabytes : Capitalising on the art & science in decision making

The growth in use of data analytics in modern businesses is having a profound effect on all aspects of decision making. At all levels in an organisation, managers and leaders have an every increasing wealth of analytics available to inform the decisions which they need to make.

But there is an ongoing tension between those who follow the advice of the data scientists, the analysts and the statisticians and those who prefer to rely on personal options, informed more by experience and advice from colleagues. The difference between the Guts and the Gigabytes.

Jack Welch, the iconic former chief executive officer of GE, said that good decisions are made “straight from the gut”. Since Mr Welch’s retirement in 2001, an era of big data and advanced analysis has been ushered in. Most companies now have lots of data available to them and, increasingly, this big data is being used to provide new insights. So should executives still cleave to Mr Welch’s advice, or has big data changed big decision making into a more scientific process?

An Economist Intelligence Unit's report into the role of data analytics in corporate decision making explores the agenda for big decisions in 2014-15 and the process that business leaders will go through in making these decisions.

This report considers the agenda for big decisions over the next 12 months and examines the role that big data and enhanced data analysis are set to play in guiding the decision making process. The report draws on a global survey of 1,135 senior executives and in-depth interviews with more than 25 senior executives, consultants and academics. Some of the key findings include:

The quality of big decision making is improving. British business leaders are more likely to report an improvement in the quality of decision making in the past two years than the global average, with 83% reporting an improvement and a third (32%) a significant one. Highly data-driven companies are more likely to report improvements in big decision making.

Experience and intuition are the main inputs into the big decision making process. Although all aspects of data and data analysis are rated highly in the UK, data and analysis are only the third most important input into the decision making process, after own experience/intuition and advice/experience of others internally

Concerns about data quality and overload are the main barriers to the greater use of data. Despite the generally positive attitude towards data and analysis, many UK business leaders remain concerned about data quality, alongside data overload. Moreover, more than half of UK respondents (61%) feel that “relying on data analysis has been detrimental to our business in the past”. By contrast, there are few concerns about sufficient talent or skills to make the most of the data that organisations collect.

More people are involved in big decision making at UK organisations than before.The rise in more democratic decision making is not unrelated to the rise in the availability of data, which has encouraged a kind of evidence-driven, and more democratic, approach to big decisions.

Growth is top of the agenda, but cost pressures drive UK businesses to collaborate with competitors.Growing the business is regarded by senior executives in the UK as the single most important area for big decisions in the year ahead. However, because costs and margin pressure are identified as the main strategic motivations for big decisions, executives are looking for more creative ways to build their business without a large monetary investment. More than half of respondents (52%) expect to make big decisions in the next year that involve competitive collaboration, making this a much stronger trend in the UK than elsewhere.

The full report is available here.

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< The beta blog | Sep 11, 2014

20 Questions for the CCO: #4 Have you adapted to the visual world?

According to trade body IMRG, UK online spending will rise by 17% this year. That’s a whopping £107bn of products we’ll buy without necessarily seeing or touching.

What’s interesting is that we haven’t changed (our need for a deeper experience of a product before we commit to purchase is the same). What’s different is that we are now fulfilling that need through high quality imagery, video and digital experiences.

For example, every serious automotive manufacturer has an online configurator now. Drivers can personalise a near real image of the car they want, down to wheel choices and interior trim. They can rotate it, explore it and share it with friends. Increasingly an actual test drive with a dealer is a validation step, if it’s taken at all. Even traditionally dry industries like venture capital have embraced the visual world. Every pitch for crowdfunding investment comes as a slickly produced video, packed with infographics and animation. This extends post purchase too. We can often get the aftersales help we need from a ‘how to’ video, rather than calling a helpline or reading a manual.

The way firms interact with customers has obviously been shaped by the increasingly visual way we interact with each other. Sharing video and imagery through social media is the norm. It’s even the primary means of communication for some. Witness for example the exodus of teens from Facebook to Instagram as a way of ensuring a parent-free, visually driven experience. All of this change brings new and challenging demands for a CCO trying to manage customer interaction across an organisation. There are three key conflicts to resolve:

1. Quality vs volume – Creating compelling imagery and video in a socially enabled world can be a daily or even hourly job. Maintaining quality with volume requires the right processes, tools and partners. They need to be governed by clear guidelines that make on brand, quality production totally idiot proof.

2. Consistency vs flexibility – If a brand is the aggregate of all perceptions of a product or business, being consistent is critical. That means creating a common visual experience across all on and offline channels. Each will have different lead times to manage and may be owned by different functions within the organisation so coordinating them and defining the role they play in the visual landscape of a customer journey is vital.

3. Cost vs investment – Not so much a conflict as an imperative. The creation of high quality visual material and visually rich experiences has to be treated as an investment and protected from inevitable cost-cutting. Visually rich worlds that convey an experience of both the product and the brand are the new normal. Closing your eyes to the need is not an option.

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< The beta blog | Sep 10, 2014

Apple has changed payments, how will you react?

For the last three years, I have waxed lyrical about the effect of new mobile technology on retailers, restaurants, banks, brands, and anyone who would listen. During this time we have of course seen a huge rise in mobile commerce, mobile advertising and the growth of tablets. However one area has failed to take off in a meaningful way – and that has been mobile payments and wallets.

There are many reasons why it has failed to take off. In my opinion we have not seen a service that brings together payments, advertising and user experience in a compelling enough way for consumers to adopt en masse.

So the announcement by Apple last night to introduce Apple Pay using NFC (contactless technology) into both the iPhone 6, and the Apple Watch, is likely to be the catalyst we have all been waiting for. I know the initial payment and retail partners are for the US at launch, but I would expect the UK and other markets to be pretty close behind. Bringing payments and retail together is the final piece of the jigsaw that turns our devices into something we used both online and offline, and completely crosses the line between digital and physical channels.

This will mean that we will finally see mass adoption of mobile payments and contactless technology across a range of industries. Let’s face it, Apple do have a talent for really changing the way we live through their products (iPods, iTunes, iPhones, iPads…..need I say more). Of course Apple is not the only service out there, but they are likely to be the ones who will drive market adoption,

The big thing to remember is that this is about much more than just payments. This is about mobile devices continuing to change the way in which we browse, shop and interact with brands and products. Retailers, in particularly, will be able to gain new insights, deliver personalised and contextual communications, and create new shopping experiences.

If you think back to the early naughties, eCommerce really didn't take off until we had payment mechanisms online that we felt were secure and easy to use. With eCommerce those who got it right became winners, and those who did not are simply not around anymore. The same is happening here in mobile.

So my advice would be to take this announcement as a chance to rethink how mobile currently fits into your growth strategy. More importantly, it is not about creating new apps or the mobile web; the implications of this reach into customer experience, analytics, marketing, sales, service and operations.

This is not about digital or mobile strategy, but about creating a strategy which is fit for a mobile digital age.

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< The beta blog | Sep 5, 2014

The importance of social media policies

Over the last number of years social media has become a useful communications channel for both our personal and work lives. The rise of mainstream social networks such as Facebook and Twitter has been nothing short of phenomenal as people have joined in their millions and, in Facebook’s case, billions to communicate with friends, loved-ones and colleagues regardless of their physical location.

Social media is certainly here to stay and is growing in more importance as organisations of all kinds understand the benefits it can bring. However, social media is still a relatively new form of open and transparent communication and one which has legal and ethical implications in a work setting if employees don’t understand how to use it properly.

For example, a recent BBC report indicates that police forces in England and Wales are making use of social media policies to discipline employees who have posted inappropriate content online (both during working hours and outside of working hours). This is with good cause as some examples of cases investigated by police forces included:

  • A community support officer with Devon and Cornwall Police who received a final written warning after posing with weapons on Facebook
  • A sergeant with the same force who was given a written warning after making remarks about senior officers on the site
  • A Gwent police officer who was using Facebook was given a written warning for sending an "abusive" message to a member of the public

While a social media policy is not restricted to the police force the examples above illustrate that even the professionals working in the emergency services are not immune to inappropriate use of social media.

Rolling out a social media policy

Drafting a pragmatic social media policy can allow an employer to minimise risk associated with employees’ use of social media (in both a business and a personal capacity), by proactively defining acceptable and unacceptable uses in the context of the employment relationship, and ensuring that disciplinary action can be taken if required. Social media policies can be aligned to company-wide employee policies and there is often an overlap between the two. Aggressive behaviour online and off is never tolerated, for example.

What should the policy cover?

When drafting a social media policy an employer should carefully consider its purpose and objectives, weighing up factors such as the employer’s attitude towards social media use in the workplace (will use be encouraged or discouraged?), the nature of the employer’s business (a young, cool, table tennis playing start up at Silicon Roundabout is unlikely to want to have the same social media policy as a more traditional City organisation), the workplace environment, and just how stupid some of its employees have the potential to be (if in doubt just dig out the damning snaps from the most recent office Christmas party).

Nevertheless, most policies should at least include appropriate restrictions to:

  • Limit personal social media use during work time
  • Protect the employer’s confidential information and intellectual property
  • Prevent infringement of third party IP
  • Prevent discrimination, harassment or bullying
  • Prevent liability for discriminatory or defamatory comments posted by employees
  • Prevent the misuse of personal data belonging to other employees, or customers
  • Protect the employer’s reputation.

Can employees’ use of social media be monitored?

A policy can address use of social media outside office hours, and regardless of whether an employer’s device is used. However, employers should remember that the Information Commissioner’s Employment Practices Code explains that employees have legitimate expectations that they can keep their personal lives private and that they are entitled to a degree of privacy in the work environment. If employers wish to monitor their workers, they should be clear about the purpose, and satisfied that the particular monitoring arrangement is not excessive, and is justified by real benefits that will be delivered. This is increasingly becoming an area of focus for Claimants who may try to allege that an employer’s actions in monitoring their personal messages is a breach of their right to a private life. A well drafted social media policy could help employers rebut such an argument.

When is disciplinary action appropriate?

Employees can do and say unwise things when using social media, often in the heat of the moment and without thought, or on the mistaken assumption that their words won’t be seen by anyone except their friends. As with all disciplinary issues, employers should follow a fair procedure (with reference to its disciplinary policy) and ensure that any sanction is reasonable in all the circumstances. They should consider whether employee training on the topic may be appropriate.

As social media continues to grow and become even more ingrained in our day-to-day lives, the need for a tailored social media policy will only increase.

If you’d like to know more, please contact John D. McGonagle, john.d.mcgonale@pwclegal.co.uk (PwC Legal IP/IT and Commercial team) or Jonathan Harries, jonathan.harries@pwclegal.co.uk (PwC Legal Employment team).

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< The beta blog | Sep 1, 2014

20 Questions for the CCO: #3 Are your marketing communications a fair exchange for customer attention?

‘From interruption to engagement’ has probably featured loudly in the title of a major marketing conference or paper every month for the last fifteen years. In an era of time shifted TV, the decline of print and rise of ‘skip ad’, why on earth would anyone watch, read or interact with an advert that gets in the way of something they are trying to do?

In truth it’s still possible to buy ad space, fill it with ordinary creative and see something happen as a result, it’s just got harder, more expensive and less rewarding. This is not a sustainable strategy.

The best marketing communications of today (and by extension those that will form the table stakes behaviour of tomorrow) are about a fair exchange between you and the customer. Do you offer them enough of value to warrant their precious time and attention? This fair exchange could be one, or ideally a combination of the following things:

It arrives at the right time – I’m in the market for something and you reach me at the right time. In the old world this just meant keeping your car ad running in What Car? every week. In the digital age this is about developing a sophisticated understanding of your customer’s behaviour, both on and offline and using the right data and tools to be present when it suits them.

It entertains me – Marketing communication that reaches people on an emotional level, making them laugh, cry or think is always more effective than a straight ‘buy me now’ message and generally builds brand as well as driving action. It can be hard to justify the investment required but just ask Cadbury, Honda or Nike if they thought it was worth it.

It’s useful – Great marketing isn’t just about what you say, it’s about what you do, sometimes to the point that your product is its own marketing. What useful products or services are you offering to your customers for free as a way of building a relationship? Whilst examples like Strava and Tesco Clubcard come to mind, remember this isn’t new, it’s a fundamental human truth. In fact the original Michelin Restaurant guide was a piece of free content designed to encourage people to drive out of Paris and wear out their tyres!

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< The beta blog | Aug 22, 2014

The rise of multichannel networks in a world in beta

Video viewing habits are evolving rapidly, not just in mature markets, but globally, and especially among younger audiences. The rise of digital video has been nothing short of spectacular, and most of it is attributable to one player: YouTube. The Google-owned firm now attracts 1 billion unique monthly visitors — equal to 40 percent of the online population worldwide — who watch more than 6 billion hours per month.

New ecosystem, new players

The numbers are staggering and have attracted a new kind of player to the media and entertainment industry — so-called multichannel networks (MCNs), which are quickly building a nascent business on top of YouTube’s massive user base.

MCNs are outfits that curate their own video content and partner with video websites like YouTube to syndicate, monetise, and manage content they curate from digital video talent. Now, traditional media companies are trying to get in on the action, by buying stakes in these new networks or acquiring them outright. Some MCNs have also started to produce their own original content as well. The tone, voice, and production style of their short-form videos typically emphasize an unfiltered “authenticity” that appeals to a millennial or even younger-skewing demographic, as can be seen through the videos of MCN-based YouTube stars like teenage fashion sensation Bethany Mota, video-game critic PewDiePie, and Truth Mashup, an online comedy show.

Challenges to traditional media companies

The advent of MCNs has attracted considerable M&A attention from larger media companies looking to expand their participation in digital video, and more deals can be expected going forward. But because they are so new, and because their business models are not yet established, MCNs present real challenges to media companies when it comes to their integration and evolution toward long-term sustainability and value creation. The playbook for the traditional network and pay-TV ecosystem is not the right one for MCNs.

Although traditional companies can leverage their experience and scale in building up their new acquisitions, they must be very careful not to break them in the process. MCNs have succeeded by moving very fast, developing edgy content, and being willing to experiment — not exactly key capabilities among most big media firms.

Through the lens of MCNs, media companies can master the digital video ecosystem, while at the same time using their own capabilities (e.g. in packaging, brand integration, and monetization) to improve the MCN business model. If the companies now buying these MCNs are to help them grow, they must work with them to produce more of their own content, seek out global audiences, and diversify their distribution and revenue streams beyond YouTube.

Most important, they must foster the capabilities that have enabled MCNs to grow as fast as they have so far.

For Strategy&’s full analysis of multichannel networks click here 

Blog post written by:

Christopher Vollmer | +1-212-551-6794 | @chrisvollmerLinkedIn 

Kristina Bennin | +1-212-551-6140 | @kristinavLinkedIn

Sebastian Blum | +1-212-551-6109 | LinkedIn


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< The beta blog | Aug 20, 2014

20 Questions for the CCO: #2 The best digital experiences are available to all, do you measure up?

In pre-digital era, the best customer experiences were only accessible to the wealthy. If you didn’t ‘turn left’ in life you didn’t get to enjoy them. Equally, normal customers couldn’t miss what they didn’t have, ignorance was bliss. Consequently the standards a company had to reach to satisfy those customers were lower.

Today it’s a different story. In our democratised digital world, the best experiences aren’t just accessible to all, they are often free. Everyone has access to the most seamless, intelligent and thoughtful experiences like watching content on Netflix or finding music on Spotify. And whilst services might come with premium features, the basic process of interacting and using them is the same for everyone – rich people don’t get buttons that are easier to click.

There are no shortcuts in how to respond to this. Great digital experiences are rarely just about hiring the right design agency or paying for testing, they are born from businesses that either start the right way, or those that are prepared to make the often difficult and expensive structural changes necessary to put customer experience at the heart of what they do. It’s about defeating internal politics about who owns what part of the process and making an investment in something that doesn’t always have an obvious and directly measurable return.

Next in this series we'll be asking if your marketing communications are a fair exchange for customer attention.  

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< The beta blog | Aug 19, 2014

The personal data revolution and why it could benefit everyone

Yesterday we launched PwC’s Future of Work series which looks at trends and changes in the world place. Today’s announcement looks at the growing trend of personal data and how both employees and employers can utilise it for mutual benefit.

In the report we predict that data monitoring of employees is set to rise over the next decade as Generation Y enters the workforce – by 2020 this generation will form half of the global workforce and bring with them their different attitudes to technology and personal data. The research reveals that the younger generation are more open to sharing their personal data with their employees, with 36% of Generation Y workers saying they would be happy to do so.

Just as advertisers and retailers are using data from customers’ online and social media activity to tailor their shopping experience, organisations could soon start using workers’ personal data (with their permission) to measure and anticipate performance and retention issues. This sort of data profiling could also extend to real-time monitoring of employees’ health, with proactive health guidance to help reduce sick leave.

The report, which is based on a survey of 10,000 workers (2,000 in the UK) and 500 HR professionals globally, found that employees are more open to sharing their personal data than previously thought. Today’s millennial generation of workers are tomorrow’s decision makers, and with over a third happy to share their personal data (including their social media data) this could become routine in the years to come.

What’s clear is that the personal data revolution is upon us as we collect more and more data about ourselves through digital, social and (increasingly) wearable technologies. Organisations have an opportunity to develop measureable benefits for those who hand over their data and building trust through clear rules about how it is acquired, used and shared since digital trust is vital in a world in beta

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