IBM World of Watson presentation: Monetizing Data in the Age of Customer
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Transcript of IBM World of Watson presentation: Monetizing Data in the Age of Customer
For CIOs: The Information Age Meets the Age of the CustomerSession: ALB-4037
Michelle WycoffOctober 25, 2016
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Age of the Customer
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SOURCES:
Forrester, “Leadership In The Age Of The Customer Customer - Obsessed Leaders Do Five Things Right” by James L. McQuivey, April 26, 2016
Customer experience is the frontline in the battle to give customers more.
e.g. Delta Airlines, Charles Schwab
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Digital disruption enables companies to keep pace with customers.
e.g. Uber, Tesla
Customers are hyper- adopting new experiences and their willingness to try new things is accelerating.
e.g. Slack, Snapchat
SOURCES:
Forrester, “Leadership In The Age Of The Customer Customer - Obsessed Leaders Do Five Things Right” by James L. McQuivey, April 26, 2016
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Cognitive business:Create knowledge from data to outthink the needs of the marketplace by bringing digital intelligence to a digital business.
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Key technologies that deliver change
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SOURCES:
Gartner, “The 2017 CIO Agenda,” by Andy Rowsell-Jones, October, 2016
What’s holding us back?
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62% 57% 55%
54%54%Cost of technologies / solution development
Security concerns Immature technologies and tools for implementing
cognitive solutions
Data issues (i.e., quality of data, integrating and converting data,
volume of data)
Insufficient skills
Top five challenges in adopting cognitive computing
SOURCES:
IBM, “The cognitive advantage”, October, 2016: http://www.ibm.com/cognitive/advantage-reports/
60% say cognitive computing is essential to tackling data
challenges that conventional analytics cannot
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What will it take to differentiate?
53% say cognitive computing will unlock
the hidden value of their organization’s dark data
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SOURCES:
IBM, “The cognitive advantage”, October, 2016: http://www.ibm.com/cognitive/advantage-reports/
Technology leaders serve as the primary advocates for cognitive initiatives
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Collaboration underpins cognitive initiatives Strongest advocates for cognitive initiatives
% citing as strong advocate
45%26%
29%45% IT and LoB
in collaboration
29% More LoB driven
26% More IT driven
43% Chief Information Officer (CIO)
43% Chief Technology Officer (CTO)
43% IT Management below C-level
27% Chief Data Officer (CDO)
25% LoB Management below C-level
23% CEO/President
16% Chief Marketing Officer (CMO)
SOURCES:
IBM, “The cognitive advantage”, October, 2016: http://www.ibm.com/cognitive/advantage-reports/
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“The next wave will be all aboutconnecting dots and correlatingdata to produce actionable insights.”
CIO, RetailUnited States
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New approaches towards the application of data
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Val
ue
Most are here
Efficiency Modernization Democratization Monetization
Operations Reporting &Data
Warehousing
Self-Service Analytics
New Business Models
Uses of Data
A transformative journey to greater digital intelligence
Positioning for Revenue Growth
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Shifts are defining new expectations.– Improve and accelerate market access– Collaborate for value
Build around customer experiences and services.– Create knowledge from data
– Bring new levels of intelligence and value to your organization
Take data seriously. – Address shifts in consumption
behaviors with new business models– Differentiate with digital intelligence
Monetizing Data: How CIOs are putting data and analytics to work
Mandalay BayLas VegasOctober 24-27
Michelle WycoffIBM Global CIO LeadMarket Insights @michellewycoff
The Information Age Meets the Age of the CustomerSession: ALB-4037
Thank You