Businesses and governments can service the new generation of consumers only if they update their information technology systems. According to Alain Ozan, Vice-President – Technology, at Oracle, “The average age of enterprise software is 20 years old, built in the early 1990s before even the Internet came into common use.”
Ozan further said that mobile technology, social media, and sensor technology all present opportunities to understand their customers better, but they also make companies more vulnerable to negative customer experiences. “Not so long ago in the buyer/seller relationship, the balance of power was with the seller. Companies were able to dictate to the world: ‘This is who we are, here’s what you know about us, here’s how you do business with us.’ Now, the balance of power has shifted to the buyer. Ten years ago, it was okay to have a 95% customer satisfaction rate. Today, that 5% of dissatisfied customers can bring a business to its knees.”
Oracle has over the past few years released hardware and software systems that have been engineered together.
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The average age of enterprise software is 20 years old, says Oracle report
