According to Oracle, modern technology has created an of where personalized experiences are no longer just nice to have, essential to stay competitive. Oracle released a report The Era I Enterprise: Ready for Anything summarizing a survey of 300 C-level executives across 10 industries to understand how prepared organizations are to address the fact that consumers increasingly expect, and even demand, to have it their way. The report revealed that most organizations are dealing with this shift 84 percent of respondents across all industry sectors said their organization has experienced a trend toward customers wanting a more individualized experience and 70 percent have experienced this trend from employees but fewer than 20 percent give their organization an in its ability to offer those experiences.
Within the engineering and construction industry, 77 percent of respondents have experienced a trend toward customers wanting a more individualized experience; 67 percent have experienced this same trend with employees (see Figure 1). Fifty-seven percent of engineering and construction executives surveyed said this shift is a growing challenge in their ability to compete effectively.
digital age has brought us to a point where we now expect the ability to make real-time decisions, transact, and customize options at the tap of the screen. In the new service-driven economy, innovative enterprises must focus on two things: taking care of their customers and taking care of their said Bob Weiler, executive vice president, Global Business Units, Oracle. study reveals that organizations are unprepared to manage the need for personalization in Era I, but those seeking a competitive advantage stand to gain
Respondents in the engineering and construction industry said the greatest opportunity for the industry to take advantage of more individualized content, products, and services for customers and/or employees are the following (respondents asked to select all that apply):
- more interactive and connected enterprise project portfolio management that delivers highly personalized information to stakeholders (engineers, contractors, project management, owners, etc.) in their preferred format (63 percent);
- mapping and planning the entire life cycle of a facility from design and engineering through decommissioning (60 percent);
- effectively modeling and communicating the impact (on cost and schedule) of specific change orders (53 percent); and
- Building information modeling (43 percent).
These engineering and construction executives said that the biggest obstacles the industry faces in delivering more individualized content, products, and/or services are (respondents asked to select all that apply):
- budget/cost constraints (63 percent);
- experienced staff retiring/attracting talent (47 percent);
- inability to effectively share real-time data with clients, partners, contractors, engineers, and project managers (43 percent);
- security concerns (33 percent); and
- inability to manage and analyze project data (27 percent).
According to survey, nearly all organizations surveyed (97 percent) believe IT investments from business intelligence tools to customer experience solutions to industry-specific applications will play a vital role in improving their ability to offer individualized customer and employee experiences. Furthermore, within the engineering and construction sector, 70 percent of respondents said there is an important link between cloud-based IT solutions and their ability to offer an individualized experience.
Among benefits of cloud-based IT solutions are scalability and flexibility, said Mike Sicilia, senior vice president and general manager, Oracle Primavera. Security concerns are related more to use of mobile devices than to the cloud itself, he said.
Information provided by Oracle (oracle.com). Download the report, The Era I Enterprise: Ready for Anything, at oracle.com/us/industries/oracle-era-ready-anything-2969053.pdf.