OFCOM produced a report today: http://media.ofcom.org.uk/news/2014/cmr-uk-2014/
Without going into vast detail it seems teenagers are ahead of the vast majority when it comes to understanding and using technology.
I don’t think this is any surprise, I remember as a child I was the only person able to use the video recorder time settings to ensure we recorded our beloved TV shows. I suppose the difference now is that the speed of change has increased, as have the number of devices one can use.
What requires more thought is how these users (future customers) behavioural changes will affect business behavioural changes.
Most teenagers use messaging rather than email, there is a much higher propensity to use mobile and tablet (which we’re seeing across the entire travel industry) and typical advertising channels are now fragmented.
It’s very rare in the UK for a TV show to attract +10m viewers. Yet less than 10 years ago this was the norm.
In a decade these teenagers will be in their early to late twenties. Between now and then a lot will change.
For the past 5 years everyones been talking about big data, now, we’re all about small data. Small data is code for understanding the individual, not the average of masses.
By understanding the individual a business can choose the most appropriate advertising channels. The more data one has on which to base this decision the better as the more likely the advertising channel will yield results.
Hence data is so valuable. Whats more valuable is being able to extract relevant trends to enable decision making. In order to do that one needs to ask the right questions and that is a valuable skill in itself.
As I embark on trying to start a business the changing landscape of behaviour and technology is paramount in my thoughts as i try to understand what the travel industry looks like in 5 years time? I know that question, I have no idea about the answer!