by Don Scheibenreif | July 31, 2014 | Comments Off on Announcing Gartner’s Hype Cycle for Consumer Goods, 2014
My colleague Dale Hagemeyer and I are pleased to announce the publication of Gartner’s Hype Cycle for Consumer Goods, 2014. The Hype Cycle is Gartner’s best known framework and designed to offer our IT clients a snapshot of the relative maturity of technologies, IT methodologies and management disciplines. They highlight overhyped areas, estimate how long technologies and trends will take to reach maturity, and help organizations decide when to adopt. Our report is intended for CIOs and IT professionals that advise and work closely with sales, marketing, and supply chain organizations in consumer goods companies around the world. Dale and I look forward to this report every year because it gives us a chance to step back and take stock of the technologies and forces that will impact the consumer goods industry for the next several years.
In 2014, with a continuing slow-growth global economy, consumer goods manufacturers continue to focus on the basics that will improve their position versus competition: Develop new products more quickly, make stronger connections with consumers, ensure products are available at retail, and take promotions beyond traditional analog approaches to much more data and digital driven in collaboration with retailers.
This year’s Hype Cycle has a number of new entrants that reflect common questions from our consumer goods clients about driving growth amid uncertain conditions and increasingly connected consumers and customers. They are:
- Supply Chain Big Data Analytics — These new technologies are focused on analytics in the supply chain. This stands in contrast to more transactional systems, but also reinforces the theme of analytical solutions being a significant part of the left side of the curve.
- Label and Artwork Management — This refers to software that helps brand managers, marketing staff, creative designers, packaging specialists and product managers develop labels and artwork for product packaging.
- Decision Management — These technologies involve the discipline of designing and building systems that make structured decisions. This is a central technology behind delivering the right offer to the right consumer at the right time in the shopping process.
- Innovation Management Technology for Product Development — This may portent another wave of product-development-oriented solutions working their way in on the left side (emerging) of the Hype Cycle curve.
We expect these new technologies, along with others on the Hype Cycle and more that have not been identified, will enable the consumer goods industry to move toward digitalization and the world of digital business — the creation of new business designs from the blurring of the physical and digital worlds. For the consumer goods industry, we expect it will usher in a new era of growth from the convergence of people, business and intelligent things, creating new revenue opportunities and new opportunities to engage retail customers, consumers, and supply chain vendors.
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