Estate Living Magazine Estate Living Issue 28 April - Page 32

Mobile apps here to stay The global mobile app market is expected to hit $ 189 billion But unlike oil, which has a finite supply, the amount of data by 2020, sentiment that these applications are on the way being generated is expanding by the second. The World out might seem largely unfounded. In fact, you just need to Economic Forum estimates that in the next two years, walk around or sit in any coffee shop to see people of all ages 40 zettabytes of data will be created. To put this in layman’s glued to their mobile devices. terms, it is the equivalent of four million years’ worth of According to Statista, the number of worldwide mobile HD video. phone users is expected to pass the 5 billion mark next year. And with all that data, making sense of it becomes a Alrea dy, smartphone users account for close on half of the priority. But how best can a business capture relevant mobile population. But is it necessary for a business to have data from its customers? Websites are generally designed both a mobile-friendly website and an app to cater for its to push information to visitors, whereas apps can gather customer base? Given current economic conditions, would data (and insights) surreptitiously without impacting on the it not make more sense to pool resources and focus on user experience. developing a comprehensive mobile app instead? Data-driven world Understanding the importance of data is fundamental to choosing the strategic path to follow. In recent years, data has been said to be the new oil of the digital age. The Economist published an article last year that illustrated how Of course, this does not necessarily make an app the silver bullet many hope it to be. Consultancy Localytics found that 22% of people who download an app only use it once. It is therefore vital that an app (much like a website) grabs the attention of the user immediately. It needs to create value and offer the consumer a reason to engage with it. data has become the latest commodity that is spawning a lucrative and fast-growing industry. | 33