CIO GPS: Enabling a new level of Customer Experience: Life Management Platforms

The ongoing trend towards Consumerization of IT (CoIT)driven by growing adoption of mobile, social and cloud computing has made a profound impact on our society. It has brought many new challenges for both consumers and businesses, which are now struggling to adapt to the new demands for storing, sharing, and processing sensitive digital information and to comply with increasingly harsh privacy-related regulations. An emerging revolutionary trend that is turning the Internet upside down and making privacy a fundamental layer of any network interaction is the Life Management Platform.

Life Management Platforms give individuals a way to consolidate all their sensitive digital information (such as bank, insurance or health information) in one secure place for storage, provide methods of secure granular sharing of that information with other parties (like insurance brokers, hospitals or car mechanics) and at all times ensure that the individual retains full control over his information. This approach completely reverses the current trend of collecting as much personal data about an individual as possible and thus provides a new foundation of trust for privacy-cautious individuals and opens up completely new business models for smart digital service providers. They also provide reasonable savings for companies by reducing costs of maintaining regulatory compliance, especially in regard to Personally Identifiable Information (PII).

At KuppingerCole, we believe that Life Management Platforms are one of today’s most important new trends in IT and certainly one with the biggest impact on everyday lives. Within the next ten years, they will fundamentally change the way businesses and individuals interact on the Internet. Life Management Platforms are the future of IT, and yet they are already a reality today. We recommend that all organizations dealing with individuals embrace the trend and define strategies to align to it. The earlier you join the ecosystem, the better your competitive advantage will be.

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