Futurist Paul Higgins
DIGITAL transformation data is the answer to connecting with, and generating value from, high margin customers, futurist Paul Higgins told Lambex 2016 conference delegates yesterday.
In his presentation titled The choice is ours farmers or peasants, Mr Higgins said data would be as valuable as the product farmers produce and could be held by farmer-owned co-operatives.
Mr Higgins said data was already being used to influence customers, as evidenced by QR codes under the lid of a can of Australian milk powder, providing provenance details to a Chinese customers. Such points of contact gave the customer information about the producer as well as providing details on what the consumer is interested in, he said.
Citing the example of drones, Mr Higgins raised the opportunity of farm customers being invited to join our drone flight as it goes over and monitors a property.
That you can enter a virtual reality environment that will let you walk in among our flock, that gives experiences and context, and transparency about what is going on and that gives me, the high margin customer, the connection to your product and to your company, and the willingness to pay high margins for that.
Mr Higgins said he had been working with food manufacturer Simplot in a digital transformation project that invited in start-ups to get access to company data, customers and funds to develop a product for them.
Theyre essentially talking about how do we connect to the customer more so they are more connected to our product and our brand.
Part of Simplots problem is that the supermarket act as a kind of a gateway for a huge percentage of their products with their consumers theyre trying to get more connected and more transparent with those consumers, he said.
Theyre recognising they cant do that by themselves.
Theyre inviting people in from outside to experiment, create new ideas and ways of connection to do that.
Mr Higgins said technology progressed from its genesis or innovation to being custom-built, to product, to a utility or a service, quoting the example of the invention of motorcar propulsion systems, then multiple car models and now car or taxi services.
I no longer have a need to own a car if I dont want to.
Thats the way technology goes through its cycles, he said.
If you are talking about agriculture, I think there are three key things here.
First of all they have to be useful farmer applications in your hand, Mr Higgins said.
Technology-based systems such as drones need to simple to use and available I dont need to know how it works.
We need industry data platforms and I know MLA is already on these sort of things and the architecture of them, but my view is that data is going to be as valuable as the actual product you produce off your farm, he said.
So data is as important as the meat, as the grain, as the milk that comes off farms data is going to become just as important.
And data problem is that it is more valuable if we share it all rather than keep it for ourselves.
He urged the conference delegates not to give their data away and we want to (be) open so we can do things with it.
Id like a system where I can share my data and I can say, I would love to share it with the researchers, with the marketers, but have control over that process, but there be incentives for me to share that data because the more we do together the more value we all get out of it individually.
Mr Higgins said Australia had a history of farmer-owned co-operatives for marketing farm products.
We need to do the same around data, because we have the capacity to choose the value.
This is where the title about farmers or peasants comes in, he said.
We can go, we can produce companies, we can use this data, we can use it for our own purposes and create our own value, or we can hand it off to other people and allow them to use it and we can come back in 10 years time and whinge that all these people are making money and were not.
Or we can do something about it now and say we are going to invest in these sort of operations to produce value for our own business and for our own farmers, Mr Higgins said.
That is the challenge in my mind for the next three or four years looking at how do we do that and ow do we invest in that just like we invested in all sorts of other areas in agriculture so we can be part of that value creation.
So we need an overall strategic direction that says where do we put these things if we could have a central industry data platform to work from that is under the control of farmers themselves then we can produce value from it.
But it should be competitive, it shouldnt just be supplied to a farmer-owned co-operatives, it should go to who can produce the best value out of the process, Mr Higgins said.
The more competition we have in that process, the more we own it the value, the better of we will be, because the future is going to be driven by new value, new transparency, new information, new margins with customers that you havent thought about before, and we need to get hold of those margins and be part of that, not hand it over to other people.
The people that win in 2036 will be the people that have learned how to turn around how things work, re-think business models and actually get hold of those 20 percent of high margin customers that are more connected and more information and more transparency, and are craving experiences, not just product, he said.
I hope that most of you in the room are in that group.
See more here:
Futurist urges Lambex sheepmeat producers to not give data away - Sheep Central
- The G-Bound RC Car Drives On Water [Rc] - November 7th, 2009 [November 7th, 2009]
- Nanoparticles Can Rip Your DNA Apart Without Ever Touching It [Nanoparticles] - November 7th, 2009 [November 7th, 2009]
- My Favorite Top 10 List Today: The Dumbest Evil Geniuses Of All Time [Evil Geniuses] - November 7th, 2009 [November 7th, 2009]
- 5,000 Volts Is More Than Enough Power To Crush a Soda Can [DIY] - November 7th, 2009 [November 7th, 2009]
- Computers Are Scary, But Steve Allen Is Here to Help [Retromodo] - November 7th, 2009 [November 7th, 2009]
- Pangolin Backpack [Bags] - November 7th, 2009 [November 7th, 2009]
- New For iPhone: 2 Balls 1 Cup [IPhone Apps] - November 7th, 2009 [November 7th, 2009]
- Office Building Or Home To A Super Heroine? [Architecture] - November 7th, 2009 [November 7th, 2009]
- This Inflating Bra Commercial Left Me Confused Yet Reaching For My Wallet [Nsfw] - November 7th, 2009 [November 7th, 2009]
- 10 Terrible Tips for Longer Battery Life [Humor] - November 7th, 2009 [November 7th, 2009]
- Dealzmodo: $100 Xbox 360 at Amazon, More Electronics Deals All Day Long [Dealzmodo] - November 7th, 2009 [November 7th, 2009]
- Gigabyte BIOS Update Fixes iPhone Syncing Issues [IPhone] - November 7th, 2009 [November 7th, 2009]
- Hello Facebook User, I'm a Nigerian Prince in Need of Assistance... [Facebook] - November 7th, 2009 [November 7th, 2009]
- Zune HD Update 4.3: Speedier Browser, Predictive Text and More [Zune Hd] - November 7th, 2009 [November 7th, 2009]
- 8-Bit Wedding Invitation Acknowledges the Marital Bickering to Come [8-Bit Wedding] - November 7th, 2009 [November 7th, 2009]
- The iPhone Nano Rumor Strikes Again: Coming to Verizon in 2010? [Rumor] - November 7th, 2009 [November 7th, 2009]
- Building a NAS? Skip the Performance Drives [Nas] - November 7th, 2009 [November 7th, 2009]
- Microsoft COFEE, Some of the Most Illegal Software You Can Pirate [Hacking] - November 7th, 2009 [November 7th, 2009]
- Robot Cow Rectum: For Educational, not Recreational, Purposes [Robots] - November 7th, 2009 [November 7th, 2009]
- Watch Jonathan Ive's Segment in Objectified [Apple] - November 7th, 2009 [November 7th, 2009]
- BlueBeat’s Innovative Defense That Will Never Hold Up in Court [Music] - November 7th, 2009 [November 7th, 2009]
- Nokia Booklet 3G Landing November 15 at Best Buy [Nokia] - November 7th, 2009 [November 7th, 2009]
- Latest Snow Leopard Developer Build Breaks Hackintosh Support... Again [Hackintosh] - November 7th, 2009 [November 7th, 2009]
- The Cité du Design Certainly Lives Up to Its Name [Architecture] - November 8th, 2009 [November 8th, 2009]
- 64% of Men Don’t RTFM Before Calling Tech Support [Tech Support] - November 8th, 2009 [November 8th, 2009]
- MIT Media Lab: Electronic Wallpaper, Conductive Threads and More [Fashion] - November 8th, 2009 [November 8th, 2009]
- Famous Paintings Reproduced In Coffee [Art] - November 8th, 2009 [November 8th, 2009]
- How Far Can 'Medical Tourism' Go? - November 8th, 2009 [November 8th, 2009]
- Actuarial Escape Velocity - November 8th, 2009 [November 8th, 2009]
- A Rebuttal to 'Peak Oil' Doomsday Predictions - November 8th, 2009 [November 8th, 2009]
- Reverend Jeremiah White,...I mean, Wright - November 8th, 2009 [November 8th, 2009]
- Energy vs. Financials, A Divergence of Historical Extremes - November 8th, 2009 [November 8th, 2009]
- US Ideological Distribution, 2008 - November 8th, 2009 [November 8th, 2009]
- Ten Biotechnology Breakthroughs Soon to be Available - November 8th, 2009 [November 8th, 2009]
- Nanohealing Material Heads to Market - November 8th, 2009 [November 8th, 2009]
- The Solar Revolution is Near - November 8th, 2009 [November 8th, 2009]
- Why the US Will Still be the Only Superpower in 2030, v2.0 - November 8th, 2009 [November 8th, 2009]
- The Culture of Happiness - November 8th, 2009 [November 8th, 2009]
- Surfaces : The Next Killer Ap in Computing - November 8th, 2009 [November 8th, 2009]
- More on the Economics of Medical Tourism - November 8th, 2009 [November 8th, 2009]
- Ten Myths in America - November 8th, 2009 [November 8th, 2009]
- Can Buildings be 'Printed'? - November 8th, 2009 [November 8th, 2009]
- Pre-Singularity Abundance Milestones - November 8th, 2009 [November 8th, 2009]
- The Futurist's Stock Portfolio for 2009 - November 8th, 2009 [November 8th, 2009]
- A Future Timeline for Economics - November 8th, 2009 [November 8th, 2009]
- A History of Stock Market Bottoms - November 8th, 2009 [November 8th, 2009]
- A Few Electoral Statistics - November 8th, 2009 [November 8th, 2009]
- It's Official : The Recession Began in December 2007 - November 8th, 2009 [November 8th, 2009]
- How We Decisively WON in Iraq in 2008 - November 8th, 2009 [November 8th, 2009]
- 2008 Technology Breakthrough Roundup - November 8th, 2009 [November 8th, 2009]
- The Futurist's Stock Portfolio for 2008 - RESULTS - November 8th, 2009 [November 8th, 2009]
- Why Government is Set to Extinguish Silicon Valley - November 8th, 2009 [November 8th, 2009]
- Solar Power's Next 5 Game-Changing Technologies - November 8th, 2009 [November 8th, 2009]
- The End of Rabbit Ears, a Billion more Broadband Users - Part II - November 8th, 2009 [November 8th, 2009]
- Guantanamo Meets Geneva Convention Rules - November 8th, 2009 [November 8th, 2009]
- Nanotechnology : Bubble, Bust, ....Boom? - November 8th, 2009 [November 8th, 2009]
- The Form of Economic Recovery - November 8th, 2009 [November 8th, 2009]
- The Impact of Computing : 78% More per Year, v2.0 - November 8th, 2009 [November 8th, 2009]
- Wolfram Alpha : The Birth of Web 3.0 - November 8th, 2009 [November 8th, 2009]
- Energy vs. Financials, RESULTS - November 8th, 2009 [November 8th, 2009]
- SETI and the Singularity - November 8th, 2009 [November 8th, 2009]
- Eight Ways to Supercharge the US Economy - November 8th, 2009 [November 8th, 2009]
- The Next Big Thing in Entertainment, A Half-Time Update - November 8th, 2009 [November 8th, 2009]
- Video Conferencing : A Cascade of Disruptions - November 8th, 2009 [November 8th, 2009]
- Timing the Singularity - November 8th, 2009 [November 8th, 2009]
- Mobile Broadband Surge : A Prediction Follow Up - November 8th, 2009 [November 8th, 2009]
- The Next Two US Recessions - November 8th, 2009 [November 8th, 2009]
- Google Promotes Droid Day With Rare Homepage Ad [Google] - November 8th, 2009 [November 8th, 2009]
- Microsoft Confirms Improved Xbox 360 Warranty Seal [Blockquote] - November 8th, 2009 [November 8th, 2009]
- OpenOfficeMouse Is An 18 Button Freak, But I Want It [Mouse] - November 8th, 2009 [November 8th, 2009]
- 10 Classic Analog Games Defiled By Digital [Tgif] - November 8th, 2009 [November 8th, 2009]
- Wire Your House With Ethernet Cable For Better Home Networking [DIY] - November 8th, 2009 [November 8th, 2009]
- The Next Room Eavesdropping Device Is Way Better Than a Drinking Glass [Surveillance] - November 8th, 2009 [November 8th, 2009]
- Steve Jobs and Sarah Jessica Parker Sittin' In A Courthouse B-E-I-N-G S-U-E-D [Lawsuits] - November 8th, 2009 [November 8th, 2009]
- The Folding Titanium Spork Is the Ultimate Portable Eating Utensil [Spork] - November 8th, 2009 [November 8th, 2009]
- The Queen of Google: "I Do Code All Night!" [Google] - November 8th, 2009 [November 8th, 2009]
- This Week's Best iPhone Apps [IPhone Apps] - November 8th, 2009 [November 8th, 2009]
- DIY Star Trek Bluetooth Communicator Almost Makes Regular Bluetooth Headsets Look Stylish [DIY] - November 8th, 2009 [November 8th, 2009]
- Intel Swears That It's Gonna Stop Its Firmware From Bricking Any More SSDs [Intel] - November 8th, 2009 [November 8th, 2009]
- H20 Audio's Waterproof iPod Nano Case Is Built for Surfer-Videographers [Accessories] - December 12th, 2009 [December 12th, 2009]