What is the SiriusDecisions Demand Waterfall? Josh Mueller, Senior Vice President of Global Marketing at Dun & Bradstreet, speaks with CXOTalk about how B2B companies can measure marketing success and use data to determine which activities yield the best results. For more information: https://www.cxotalk.com/video/using-siriusdecisions-demand-waterfall “It allows you to see which marketing activities are actually yielding the results that you want,” Mueller explains. “There’s a lot of discipline in the system, there are a lot of definitions and best practices where you’re able to see, ‘Okay, if I launched these campaigns against these personas, at which this much time that passes,’ what am I actually yielding from that? From that closed, one perspective, not just an engagement perspective? The pipeline doesn’t pay the bills. Ultimately, closed one revenue pays the bills.” As SVP at Dun & Bradstreet, Mueller has global responsibility for demand generation, digital, operations, marketing technology, creative and content. His organization is pivotal to Dun & Bradstreet’s transformation to a modern company with a focus on providing an amazing customer experience and scaling demand generation. From the transcript: Michael Krigsman: I’m Michael Krigsman, an industry analyst and the host of CxOTalk. We’re speaking with Josh Mueller, who is the Senior Vice President of Global Marketing at Dun & Bradstreet. And, we’re talking about the Sirius Decisions Demand Waterfall. So Josh, tell us about the Sirius Decisions Demand Waterfall. Josh Mueller: The Sirius Decisions Demand Waterfall has been around for over a decade. And, essentially what it is is a framework that B2B companies can use to determine how well their marketing activities are working. I've targeted a million people; a hundred thousand of them engaged with me; ten thousand of them went to our sales team; five thousand of those became opportunities, and maybe I closed a thousand of those. And, you're able to track what's working at every stage so that you can have a better yield over time. Michael Krigsman: So, it gives you a greater precision in terms of understanding what’s happening with your marketing spend. Josh Mueller: That’s absolutely right. It’s a standard methodology that many of the biggest and best brands in the world adopted. Michael Krigsman: And maybe, this is an obvious question, but why should we use it? Josh Mueller: It allows you to see which marketing activities are actually yielding the results that you want. There's a lot of discipline in the system, there are a lot of definitions and best practices where you're able to see, "Okay. If I launched these campaigns against these personas, and with this much time that passes, what am I actually yielding from that … from that Close-Won perspective — not just an engagement perspective?” The pipeline doesn't pay the bills. Ultimately, Close Won revenue pays the bills. Michael Krigsman: Right now, marketing is all about data. So, how has it evolved to address what’s happening in marketing today? Josh Mueller: What it's done is it's taking the framework that was really historically marketing-focused and has expanded that to be marketing, sales, and product. And, it treats those as equal seats at the table that collectively create demand and ultimately, close that demand. The other thing I really like about the framework: it's gone from the concept of individual buyers (individual lead), to the concept of buying groups and buying committees within complex accounts. Michael Krigsman: It’s really interesting how the master data kind of underpins the collaboration elements of doing this type of marketing. Josh Mueller: Even if you have a list of accounts, and you know who you’re going after, you may have sales talking to one group, and marketing talking to another group, not even realizing 1) They’re part of the same company family, or 2) They’re even within the same company and you’re having different conversations. A clear master data strategy ensures that that doesn’t happen. Michael Krigsman: Would it be correct to say that it links master data to collaboration; to account-based marketing? Josh Mueller: It’s absolutely correct. I mean, the role of data has really changed the way the waterfall works.
Views: 6777 CXOTALK
Watch more videos and read the full transcript: https://www.cxotalk.com/video/future-customer-experience How can companies improve the customer experience to meet changing expectations? Des Cahill, head customer experience evangelist at Oracle, speaks with CXOTalk about using data to merge the four silos of information: Marketing, sales, commerce and service. “…The customer today expects to be treated as one person in their experiences across all of those four areas,” Cahill explains. “Increasingly, companies are being challenged because they have to bridge both these digital and physical worlds, not just in sales but across service, marketing, and commerce, so that we as consumers feel like we’re being treated as an individual by that company…” “The marketing department has a bunch of information about you as a customer, your digital behavior on the website, the ads you clicked on. The sales department knows what you bought. The service department knows what problems you have. The commerce department knows what you’ve bought online. The trick for companies today is, how do they bring that data together?” As head CX evangelist at Oracle, Cahill is responsible for strategy and messaging for the industry’s leading customer experience suite. He’s also a technology leader passionate about the intersection of brand, customer and data driven marketing, sales and service, with extensive executive-level experience at companies like Apple Computer, Netscape/AOL, eFax.com, Habeas and Ensighten. This interview was recorded at the Oracle Modern CX 2018 conference.
Views: 6826 CXOTALK
The role of chief information officer is evolving as companies put more focus on the individual customer. More videos and the full transcript: https://www.cxotalk.com/video/cio-strategy-focus-customer-experience Andrew Wilson, CIO at Accenture, explains to CXOTalk how he’s becoming a “chief experience officer” with a focus on new IT platforms powered by AI and other new technologies. “Experience is all around presenting information in a language and in a way which human beings recognize. We don’t need to create things that operate to serve the company. We need to think about how things are presented to an individual,” Wilson says. “How, with all of this information, knowledge, and creativity, can they stay current, relevant, learn, and be effective in this huge liquid state of new technologies?” As chief information officer for Accenture, Wilson leads the global IT operations of a $28.6 billion company, including the infrastructure, services and applications for clients in more than 120 countries. Wilson ensures that Accenture is at the forefront of innovation as a digital business and is also responsible for end-to-end performance and service operations of Navitaire, which works together with Accenture to provide expertise and to deliver services for airlines in key operational and revenue generating areas. This video was recorded at SAPPHIRE NOW 2018, as part of the SAP Select program for its largest customers. The focus of this event was Intelligent Enterprise.
Views: 8905 CXOTALK
Digital transformation involves all parts of a company, from sales and marketing to operations, supply chain, and talent. In this episode, a seasoned leader and author shares practical leadership advice for undertaking a program of digital transformation. Our guest is Anurag Harsh, Senior Vice President and Founding Executive at Ziff Davis. Michael Krigsman is an industry analyst and host of CXOTALK. For more information, see https://www.cxotalk.com/advice-digital-transformation-svp-ziff-davis ------------------ Check out all the CXOTALK episodes: https://cxotalk.com/episodes ------------------ Twitter: https://twitter.com/cxotalk ------------------ From the ZDNet article: http://www.zdnet.com/article/digital-survival-the-transformation-imperative/ Why is digital transformation so important? In the last fifteen or sixteen years, more than half of all Fortune 500 companies have become insolvent, been acquired by another company, or stopped doing business altogether. And if you just look at last year, 50% of Fortune 500 companies declared a loss. So, the stride of transformation has become a revolution. Rivalries have deepened, and business models have been dislocated. The only constant is the growing severity of digital disruption. Because of disruption, there's despondency, and that's compelling companies to want these digital initiatives. And they are investing a lot of money, which mostly results in disappointment due to the absence of concrete strategy. As markets shift downward, many companies try to counter the spiral by initiating frantic investments and digital initiatives. Some of them are hiring Chief Digital Officers, and some of them are looking at their CIOs and CMOs to counter these disruptive effects. What is authenticity in digital transformation? Consumers expect authenticity from corporations and individuals alike. As consumer psychology changes, digital and marketing must enter a new era where human needs -- values and connections -- define success and failure. This is a call to action for marketers and advertising executives to change their perspective towards consumers. Companies can no longer see consumers as gullible moneybags or conquests. They must see consumers as community members, as human beings, who crave trust. You see the theme here? We're talking about technology and digital, but what I'm getting at is connection. Consumers crave trust: predictability, transparency, respect. I call it the relationship era. Your corporates value must resonate at every level of infrastructure. It has to emanate outwards to the company's employees, customers, suppliers, stakeholders, neighbors, and even your relationship towards Earth! Merely projecting an image is akin to falsity. Companies must steadfastly practice what they preach. The public today cares not only about the cost and quality of products and services. People also care about the values and conduct of the providers. Trust, reliability, ethics often supersede quality and affordability. Describe your model for digital transformation? There are five things that companies need to think about. These are terms I use: Structural swivel Inverse acquisition Offshoot Coattail rider Oiling the hinges Structural swivel. If you talk to any CTO or CIO they have all legacy systems and techniques that can impede their ability to execute. By altering the company's configuration to spotlight digital initiatives, executives can swiftly escalate the speed of transformation. It's tactic that requires earmarking funds, and human resources to digital initiatives and placing digital executives in command of existing business processes. Inverse acquisition. There are a lot of businesses that have unearthed quick wins ─ quick triumphs ─ by placing boundaries on the digital products so they can function autonomously and uninhibited by traditional processes. Just put them in a corner somewhere. It's like, "Off you guys go!" Offshoot. It's unrealistic always to expect a new digital operation to absorb the traditional business, especially if the digital business is not yet developed sufficiently to absorb a larger unit. Also, it may focus on too dissimilar a fragment of the value chain.
Views: 265059 CXOTALK
AI is one of the most profound technologies of our time, with practical implications for business, society, politics, economics, governance, customer experience, and even ethics. In this video interview, industry analyst, Michael Krigsman, speaks with Accenture's Chief Innovation and Technology Officer, Paul Daugherty, about his new book called Human + Machine. This conversation explores the role of artificial intelligence in business and offers practical advice for senior leaders to innovate with AI. This video was recorded live the CXOTalk studio located i Amelia City, the IPsoft innovation center in New York City
Views: 23806 CXOTALK
The spy-vs-spy game of AI and machines attacking and eluding each other is here. Adversarial AI is a crucial topic in cybersecurity that we must understand. It is the foundation of using machine learning for cyberwarfare. Stuart McClure is the founder and CEO of Cylance, which uses AI and mathematical models for endpoint security. He is also the author of the highly respected and influential book, Hacking exposed. This video is a short excerpt from a 45-min conversation on CxOTalk. Listen to the complete video and see the full transcript here: https://www.cxotalk.com/episode/cybersecurity-machine-learning-stuart-mcclure-cylance
Views: 5985 CXOTALK
Digital media and publishing is a tough industry, with changing business models and competition from large and small players. Learn how a seasoned entrepreneur helped create one of the large digital media and publishing brands in the world. For more info, see https://www.cxotalk.com/episode/ziff-davis-behind-scenes-digital-media-brand Digital media guru Anurag Harsh was recently voted as LinkedIn’s #1 Voice in Technology. He is a founding member of the executive team at Ziff Davis for the past 7.5 years and has orchestrated its growth from a small privately held company into one of the world’s largest public digital media companies with the group's revenues exceeding $1 Billion at a $3.5B Market Cap and 200% growth in stock price. Anurag is the author of 7 business books including three Amazon bestsellers, has published over 400 business articles for Huffpost, FORBES and other publishers, is a Wharton & MIT alum and has performed two sold out solo concerts at the Carnegie Hall as a vocalist. From the transcript: Anurag Harsh: Well, digital media and the advertising landscape is staggeringly complex. Let's start with some of the misnomers that people have about the landscape. Smartphone growth is slowing. Everybody thinks that it's all about mobile and smartphones. Therefore, a lot of the digital media publishers are publishing to smartphones. Of course, they should do that, but what they don't realize is that global smartphone shipments actually just grew 3% this year compared to 10% last year. That's something that's important. In order to build a business, a digital media business, you need to understand the landscape and who your target customer is and where they're actually browsing. The other thing that's happening when you think about the Internet usage growth is, at least in North America, adults are spending a lot of time every day, as we all know, about five or six hours a day, on the Internet. That's about 3 hours per day on just mobile compared to maybe it was like 45 or 50 minutes a few years ago. The other thing that's happening is the online total advertising spend because all the digital media business is fundamentally advertising driven, different forms of advertising. It could be commerce, it could be display, it could be affiliate, but it's all bundled under advertising. The total online ad spend, it's growing steadily. Mobile obviously has now overtaken the desktop in ad dollars, just as it has with usage and time. That's an important thing. Anurag Harsh: But they're only seeing 20% of the ad spend. What that tells me is there's a massive gap, and this gap is about $16 billion of opportunity for essentially brands to have more mobile ads on the Internet. The other thing that's happening is--and we all know this, but I'm going to say it anyway--over the next several months, and it's probably already happening right now, the dollars that are spent on Internet ads are starting to eclipse dollars that are spent on television. What that tells me is it's indicating a huge opportunity for mobile products to soak up the shift. These are some of the things that are happening. There are quite a few other things that are happening in the world of digital. This is absolutely true. There's the ad duopoly, which means Google and Facebook control 85% of the growth in online ads, and their share is increasing every year. As more data and impressions keep helping these companies improve their targeting, it really is becoming very, very hard, really impossible. It's an existential problem, I call it, and we're going to talk about this a little more, eventually. It's becoming harder and harder for other platforms, and really any other publisher, to compete. That's the thing. There's this ad duopoly, and it's not going to go away. It's actually going to get even worse. The other aspect of that is this whole thing called ad blocking. It's skyrocketing. People don't want to see ads, which is the glue and the oil of the Internet that powers all of digital media. In developing markets where data costs can be high, what users are doing is they're increasingly blocking ads whenever they can. Nearly 400 million people around the world are blocking mobile ads, and that's a problem. Big platforms like Facebook, Google, Snap, they're responding to advertisers seeking to prove return on investment on their ad spend by improving ad targeting relevance, the ads that people are going to see--hopefully they don't block these ads because the ads are more relevant to what they want to see--and then measuring, the measurement of how these ads work. Targeting has become a huge thing.
Views: 72807 CXOTALK
Every entrepreneur knows that starting an enterprise software company is hard. Jason Lemkin, Managing Partner with Storm Ventures and founder of EchoSign (acquired by Adobe), shares his secrets for how to start and run a successful SaaS enterprise software company. Jason is also one of the most popular startup bloggers in the world on his site called SaaStr. At Storm Ventures, Jason focuses exclusively on early-stage SaaS/enterprise start-ups and helping them scale. Enterprise Starting Investing For both investors and entrepreneurs, the journey starts with an idea and a team. During the first part of our conversation, Jason will share his advice getting initial customers, ramping up the business, and expanding the company. Enterprise Sales and the SaaS Entrepreneur Selling into the enterprise requires a keen understanding of the product, market, and organizational dynamics in the buyer's company. We will discuss the unique attributes of enterprise software and make concrete suggestions for SaaS entrepreneurs. Throughout our discussion, ask Jason his advice by joining the conversation on Twitter. Use hashtag #cxotalk. Learn more at https://www.cxo-talk.com/build-enterprise-software-startup-jason-lemkin-managing-director-storm-ventures ------------------ Check out all the CXOTALK episodes: https://cxotalk.com/episodes ------------------ Follow us on Twitter: https://twitter.com/cxotalk ------------------
Views: 15568 CXOTALK
Digital transformation involves not just organizational change but platforms, ecosystems, and technologies that enable organizations to use data in new ways. This video explains the link between cognitive computing (IBM Watson) and digital transformation. Shanker Ramamurthy is Global Managing Partner for Business Analytics and Strategy at IBM Global Business Services (GBS). Anurag Harsh is an entrepreneur, a company executive at Ziff-Davis, a digital and management guru, a blogger, published author of several books. Michael Krigsman is an industry analyst and host of CXOTALK. For more information, see: https://www.cxotalk.com/episode/cognitive-computing-digital-transformation ------------------ Check out all the CXOTALK episodes: https://cxotalk.com/episodes ------------------ Follow us on Twitter: https://twitter.com/cxotalk ------------------ From the transcript: (03:37) We are at that stage in the evolution of computing capability where machines are able to understand, reason, learn and interact with us. And, the way they're able to do that is quite different to traditional ways of interaction. So, historically, you had to train a computer using programming. So, you program a computer using a series of [...] rules, and those rules would create a small amount of data, and the data would become the system of truth. (04:13) Now, we live in a world where there’s virtually a finite amount of data, and computers are at that stage in their evolution where they can actually be trained to look at the data and then discern patterns and understand insights. And it’s not just structured data. We’re talking about textual data, video, voice, and other kinds of sound; all sorts of interesting information. And, if you can apply machine learning to that information, then you move to a paradigm where data creates rules as opposed to computer programs creating data. And, when you are on that type of model, fundamentally new applications and fundamentally new ways of doing business emerge from that capability. (06:59) Also, cognitive computing is here. So, machine learning is not tomorrow's technology, it's today's technology. And, interestingly, with every new type of technology, it takes society a couple of decades to actually figure out how to completely take advantage of that capability. And, we are at that point where cognitive computing is here, it’s being implemented by the early adopters really broadly and very widely. Anurag talked about, for example, the health care industry where cognitive is being applied. For example, IBM has been working with Memorial Sloan-Kettering and it’s got a whole bunch of its own data. And together, IBM, along with some of the smartest brains in the world, are looking at how to solve oncology. (07:46) And, this is about … Cognitive technology is all about augmenting human intelligence. It's not … You know, there was a book written by a couple of MIT professors which was titled "Race Against the Machine." We think of cognitive computing as "race with the machine." How do you this […] of computing capability and human capability to solve some of the most complex problems that we are dealing with in society and in business? Anurag Harsh: (08:44) Now think about how profound that statement is. It’s man and machine, which is all … really what it’s about. It’s IBM’s philosophy. It’s not man or machine. And, you know, Shanker was talking about data. I mean, data is at the core of this, right? I mean, we all know about big data, and now Elon Musk is obviously talking about connecting the human brain to a computer. And a lot of people think it's about … Cognitive computing and machine learning and AI are about trying to figure out how the human brain works and replicating that. It's not. That’s not what it’s about. You know, we only use a certain percentage of our brain. And so, the idea is to be able to figure out and taxonomize, and make sense of all the data that’s on the internet. (09:32) Now here' the thing: the majority of the data. Right now, 80%; in the next three years could be close to 90%; of all data that's out there is on the dark web. It's deep web. It's not accessible. It's inside firewalls, it's, you know, everything that people are talking about within your email networks, and it's where the government operates, where academia operates; it's inaccessible. And, to be able to get a hold of that data, to be able to, in a manner, to then make sense of it, and understand, and use that data to inform a supercomputer like Watson to then learn from it; and every single iteration it gets better, and better, and better; that's what this is about, right? It's a new Moore's Law that is going to be written in the next several years. And so, I think that it’s about changing outcomes, you know? That’s what this whole thing is about.
Views: 15397 CXOTALK
How does Facebook really work and what are the social network’s implications for business executives? BlitzMetrics’ Logan Young and Dennis Yu tell CXOTalk about the “inner secrets” of Facebook, and why it was the tool of choice for Russians attempting to interfere in the 2016 U.S. election with Cambridge Analytica. For the complete transcript, see https://www.cxotalk.com/episode/facebook-secrets-social-media-execs-election-hacking Join the growth tribe with this video tutorial about Facebook advertising. This valuable interview also covers LinkedIn. Every CMO and digital marketer should watch! Dennis Yu is co-founder and Chief Technology Officer at BlitzMetrics, a digital marketing company which partners with schools to train young adults. Yu’s program centers around mentorship, helping students grow their expertise to manage social campaigns for enterprise clients like the Golden State Warriors, Nike, and Rosetta Stone. He’s also an internationally recognized lecturer in Facebook Marketing and co-author of the college textbook Facebook Nation. Logan Young is the co-founder of BlitzMetrics, where he runs the company’s training programs while implementing ad campaigns and optimizing marketing funnels for key accounts. He currently manages a team of 43 individuals. He is an internationally recognized keynote speaker and author of The Standards of Excellence, a book on Facebook benchmarks.
Views: 6775 CXOTALK
What is cognitive technology? Fred Laluyaux, CEO of Aera Technology, tells CXOTalk about AI, machine learning, and the self-driving enterprise that brings data from multiple systems to make decision-making faster and more reliable. For more information and a complete transcript, see https://www.cxotalk.com/video/beyond-erp-cognitive-technology-self-driving-enterprise “What we’re building is this new generation of applications that are following the same characteristic, real-time and always on, connected outside and in, thinking in autonomous. That’s the high-level principle of Aera – very smart software that has some level of autonomy,” Laluyaux says. “The nature of a business is fairly complex. We are realizing, basically, the promise of the ERP from 30 years ago by actually truly bringing all this transactional data into a single level. You could say that, in a way, we are fulfilling, finally, the promise of the ERP by removing the complexity of these different systems, bringing all this data into the cloud, into a normalized environment, and having a single, logical process, which we call the decision process mapping. We can map how decisions are being made around demand optimization, planning, and so on and so forth, and automate that in real time. In a way, we’re actually fulfilling that initial promise.” Laluyaux is an entrepreneur who founded his first company at age 23. Before launching Aera, he was the CEO of Anaplan, which he grew from 20 to 650 employees, and a $1B+ valuation. Before that, he held several executive positions at SAP, Business Objects, and ALG software.
Views: 5996 CXOTALK
Even a native digital business may need to undertake a digital transformation if the business model changes or the company shifts to different business goals. For West Corporation, their current digital transformation results from two business model changes: - Moving from a services model to selling products - Changing from a holding company to an operating company These changes forced West Corporation to rethink how core parts of the business function, and the technology needed. Listen to Thomas Squeo, SVP of Digital Transformation, describe the company’s digital transformation. He discusses the spectrum of customers they serve and the importance of customer experience. For more information, see https://www.cxotalk.com/video/digital-transformation-enterprise-architecture ------------------ Check out all the CXOTALK episodes: https://cxotalk.com/episodes ------------------ Follow us on Twitter: https://twitter.com/cxotalk ------------------
Views: 3989 CXOTALK
How is marketing changing? Robert Tas, vice president of McKinsey & Company, tells CXOTalk about digital transformation in the marketing operating system. How and why is it changing? What should a company do? Tas shares practical advice for personalization, insights, design, technology, speed, and agility. For more information: https://www.cxotalk.com/episode/digital-transformation-marketing-personalization In his current advisory work, Tas helps financial-services companies reinvent marketing for a digital world. He has designed agile marketing organizations that can operate at a faster pace, using best-in-class marketing technology, including next-generation measurement systems. The goal is to digitally enable the entire customer decision journey. He previously served as CMO at a leading software company, and as head of digital marketing at a top-ten U.S. bank. From the transcript: Michael Krigsman: (00:02:07) Well, I'm very excited to talk with you. You work with a lot of different clients from very large organizations who are doing sophisticated things with digital marketing and with data and analytics. Maybe a good place to begin is, when you're out there roaming the world providing advisory service and working with your clients, what are some of the key digital marketing trends or issues? What's really important to your clients? Robert Tas: (00:02:40) Good question. I think there's a lot of buzz out there, and a lot of people are trying to figure out a number of things. I like to think of them in some categories. • (00:02:48) The first one that I look at and I hear a lot of people talking about is personalization. I think the idea of not treating every customer the same is really, really important in today's world. A lot of companies are trying to figure out how to do that better. • (00:03:01) The second one is data. You talked about it a little bit in the beginning in your intro. Data, data, data: everyone is trying to figure out how to harness the volume of information we now have and actually put it into action. • (00:03:14) The third is design. I think this is one of the newer areas that's getting a lot of traction. Really understanding how to do user centric design and how do I make my experiences relevant to my customer base. • (00:03:26) The fourth that I like to talk about is marketing technology, one of the biggest buzzwords going there, but really understanding the components of the martech stack, and CMOs are now becoming integrators. • (00:03:38) Then the fifth one, which is probably the most evolving one, is this new concept of the operating model, the speed at which we work. The reality of digital marketing today is the tools we have. We can do things a lot faster than we've ever done before. (00:03:54) I think CMOs are trying to figure out all five of those things to really transform their marketing organizations. I think the best in class marketers are leading the way in the use of data in the way they approach their marketing programs. They're leading the way in testing and learning. They're leading the way with agile approaches to their marketing where they're constantly thriving for more information around the customer to be smarter about it. (00:10:57) Like you said, there are challenges. The first one that comes to mind is the data silos that exist in organizations, especially larger organizations. It's hard to connect all those customer touch points. (00:11:08) The second piece is understanding who owns the customer experience and how is that managed and implemented across the board within my organization. Often we have silos that create the upper brand, the upper funnel team, the bottom funnel team, the post customer experience team, and things like that. We've got to figure out how to build our strategies more holistically. (00:11:29) The third bucket is, there's a lot of technology, a lot of legacy systems in these organizations that need to be cobbled together. You really need a diligent strategy to go do that. (00:11:39) Then fourth, like you said, is you've got to start thinking more from that last click conversion campaign thinking to really enabling the customer journey. How do you go about delivering that? How do you remove friction through that process? How do you get more data to enhance it and help the customer get what they want? Michael Krigsman: (00:11:59) But you also mentioned design. Where does that now fit into this picture? Robert Tas: (00:12:23) Yeah. It's a really interesting piece because the creative guys have always been on either the ad side or certain pieces of the journey. I think it's really important that we start getting them involved into the entire journey and understanding how to map those pieces together. It's no longer enough for the marketer to say, "I drove the traffic to the website and I did my job." You've got to be able to design those experiences and have consistent experiences end-to-end.
Views: 6990 CXOTALK
Smart cities are the future of infrastructure, and those that don’t modernize will be left behind. Martin Powell, head of urban development at Siemens, speaks with CXOTalk about the importance of increased electrification and energy savings as air pollution becomes a growing concern. More videos and the full transcript: https://www.cxotalk.com/video/building-smart-cities-future-infrastructure “Right now, we’re in a time where cities are really competing with one another for investment, for talent, for just having high-performance infrastructure.,” Powell explains. “This is about the city taking back control and giving them the opportunity to keep everything moving, keep that quality of life really high.” Powell is the Head of Urban Development within Siemens Global Centre of Competence for Cities. This involves working with mayors and leaders providing advice and support to cities as they strive to meet tough economic, social and environmental targets and looking at economic and technical models of delivering solutions at scale. He is co-author of ‘Our Urban Future’ and ‘Better Cities, Better Life’ and the forthcoming book about ‘The Smart City in the Digital Age.’
Views: 10344 CXOTALK
How is marketing and customer experience changing in an omnichannel world? Josh Mueller, Senior Vice President of Global Marketing at Dun and Bradstreet, and Rachel Richter, Senior Vice President of Customer Analytics and Insights at Dun and Bradstreet, tell CXOTalk about the “omnichannel customer experience,” which uses data and complex analytics to identify customers’ needs and optimize delivery. For more information: https://www.cxotalk.com/video/marketing-optimization-omni-channel-customer-experience “The most important thing is really to centralize all of the amazing data that you have at your fingertips and… unify it together so that you can act on it,” Richter explains. “It really allows us to explore with more complex analytics; some of those being propensity models such as look-alike models based on historical data; or even demand estimators which really help you identify opportunities and the dollar value of different prospects. And that, then, empowers that very customized engagement, really understanding your customers and prospects.” As SVP at Dun & Bradstreet, Mueller has global responsibility for demand generation, digital, operations, marketing technology, creative and content. His organization is pivotal to Dun & Bradstreet’s transformation to a modern company with a focus on providing an amazing customer experience and scaling demand generation. Richter leads Customer Analytics & Insights at Dun & Bradstreet with global responsibility for predictive modeling, customer segmentation & targeting, marketing analytics, business intelligence and customer/market research. From the transcript: So Josh, when we talk about omnichannel customer experience, what does that mean? Josh Mueller: Well, omnichannel customer experience is a bit of a buzzword, and people have been talking about it for several years. At its most basic level, brands and customers are interacting across a lot of different channels. They're interacting in digital. They're interacting in events. They're interacting directly with sales teams. And, historically, marketers and brands often try to optimize for a specific channel, "omnichannel" means you're optimizing across that customer experience. You're putting yourself in the customer's lens, and you're optimizing for that, not for what you're doing as a brand. Michael Krigsman: And, what are the foundations? How do you deliver that? Rachel Richter: The most important thing is really to centralize all of the amazing data that you have at your fingertips and bring that all and unify it together so that you can act on it. And then, it's all about how do you build more complex analytics on top of that to help you really anticipate customer needs? And, at Dun and Bradstreet, having all of this amazing data at our fingertips, it really allows us to explore with more complex analytics; some of those being propensity models such as look-alike models based on historical data; or even demand estimators which really help you identify opportunities and the dollar value of different prospects. And that, then, empowers that very customized engagement, really understanding your customers and prospects. Michael Krigsman: So, Rachel, I have to ask, what is a "propensity model"? Rachel Richter: So, a propensity model really looks back at historical data and tells you what the attributes are of customers that have purchased that product historically and really hones in on the right customers and prospects to target with a certain product. Michael Krigsman: Josh, how does this work across channels? Josh Mueller: Yeah, it’s really difficult to do. I’ll start with that. This doesn’t happen overnight, and it takes a lot of discipline, both from the marketing organization as well as the company, holistically. A lot of companies make the mistake of going out and buying a lot of technology, will solve these problems for them and then they’ll be able to have an omnichannel customer experience. It doesn’t start with technology. It starts with a really good marketing strategy and knowing what you’re trying to accomplish. And then, it’s your data strategy. It’s actually being able to have consistent data across all of your systems and being able to truly have that 360-degree view. And then, that's when you leverage marketing technology, which is amazing and it's better than it has ever been, but without those two things in place; your marketing strategy and your data strategy; what you're trying to do from a marketing technology perspective will fall short.
Views: 12044 CXOTALK
What is the future of commerce and the customer experience? Katrina Gosek, senior director of digital customer strategy at Oracle, and Scott Silverman, principal at Scott Silverman Associates, tell CXOTalk about the importance of frictionless, fast service. “I think consumers own the brand,” Gosek says. “They have the ability to change how others perceive you as well. They hold a lot of power because they can jump from your site to another website very easily and very quickly. There are a lot of choices, so the key is to keep their attention.” “[In a store], you want to have the information you want on your mobile phone,” Silverman adds. “You want to know quickly, is that item in the back room or not? If I don’t see it on the shelf, don’t take two or three minutes to go back and look. Tell me immediately or I’m going to lose my patience and go elsewhere. I’m going to walk out or I’m going to go find somewhere else to shop.” Gosek leads the Product & Market Strategy team within the Oracle Customer Experience (CX) Cloud Product development group. Over the past decade, she has focused on partnering with B2C and B2B online businesses of all sizes, industries, and geographies – from Top 500 companies to boutique vendors - navigating some of the most significant industry shakeups digital professionals have faced in recent memory. Silverman has been active in the online and multichannel retailing industry since 1999, including 10 years as Executive Director of Shop.org and co-inventing “Cyber Monday” in 2005. He is a consultant that works with emerging technology companies where he helps them with marketing, positioning and building relationships with online and digital retailers. Additionally, Silverman is the co-founder of two digital retail conferences, CommerceNext and the Global E-Commerce Leaders Forum. This video was recorded live at the Oracle Modern CX 2018 conference held in Las Vegas.
Views: 8108 CXOTALK
During my recent conversation with Aaron Levie, the CEO of Box, the company’s “Chief Magician,” as his title used to read, presented specific advice for CIOs during this period of digital transformation in change. Read more at: https://www.cxotalk.com/episode/digital-transformation-aaron-levie-ceo-box You can catch part one of our conversation and watch the entire video, which was episode 278 of the CXOTalk series of conversations with the world’s top innovators. ====== We need to think about how do we take this set of technologies, again whether it's Slack, Facebook Workplace, or Box, and how do you marry that with the cultural change that that organization is trying to drive? Often it will come from a few discrete or distinct business initiatives. Sometimes that might be that a company is trying. Let's say it's a retail operation and that company is trying to communicate with all of their retail environments. They want to be able to make sure everybody is aligned with maybe its new promotions, new policies, or new cultural efforts. Something like Facebook Workplace then all of a sudden becomes maybe the tool to go use to make sure that that company can disseminate that information. I think the CIO has to be highly tuned into, how is the culture needing to change; what are the business initiatives that relate to that cultural change? I think that often what gets missed when you go and look at Silicon Valley, for instance, and you say, "Oh, we want to be like Google," it's important to think about which parts of Google are you trying to be like. Well, it's not the Ping-Pong tables that make Google Google. It's not the volleyball. It's not the high-end chefs that make Google Google. Those are amenities because they have this amazing business model. How should CIOs think about investment in new technology versus existing technology? Yeah. Yeah, I mean I think it's really interesting because I would say, three years ago, we didn't have to think through the data question as much around your architecture. What's sort of fundamental to AI is now you have to understand, what data do you think is going to be important to driving your business in the future. Because, that data will probably be improved by machine learning or, depending on the type of data, some form of artificial intelligence. If you have an architecture design that doesn't let you apply machine learning to that data, or you're not using vendors that are very, very focused on making sure that you can apply machine learning or AI to that data, then what you're making decisions today that will create severe technology debt five years from now or ten years from now. Really understanding the architecture of, how can you work with that information, how do you work with that underlying data, and making sure it's set up in such a way that eventually AI will be able to be applied to it. That'll be different for different companies. If you're an industrial company, then you probably want to think about, how IoT data can be used against machine learning, to improve customers' maybe health checking of their infrastructure? That is going to have a particular set of decisions that you're going to want to make about your architecture.
Views: 6165 CXOTALK
Read the transcript and watch more: https://www.cxotalk.com/video/digital-transformation-professional-services How can globalization drive innovation? Frank Friedman, global chief operating officer at Deloitte, speaks with CXOTalk about how digital transformation is leading to greater efficiency for audit, tax and consulting services around the world. “Serving clients is what we do. That is our whole mission is to serve clients, to have an impact that is important, and to be able to serve clients in an exemplary manner, to solve their issues, to have trust in the markets,” Friedman explains. “We need to be broad, not narrow. The services that Deloitte offers in audit, tax, and consulting are very broad services. Frankly, nobody can compete with the services we provide in a one-stop-shop.” Deloitte is a $43 billion global consulting, accounting, tax firm. Friedman has been its Global COO since 2016; he’s also a member of the Deloitte Global Executive Committee and chairs the Deloitte Global Operating Committee, linking strategy, execution, and accountability and aligning the global Deloitte network around shared objectives. This interview was conducted at SAPPHIRE NOW 2018 conference as part of the SAP Select program.
Views: 8153 CXOTALK
What is marketing technology and how is it changing? Scott Brinker, co-founder, president and CTO of ion interactive, tells Michael Krigsman of CXOTalk about the changing landscape of post-click marketing and conversion optimization. Brinker, one of the most influential voices in marketing technology, shares how greater personalization and artificial intelligence are increasingly important as marketing tech incorporates AI. For more information, see https://www.cxotalk.com/episode/marketing-technology-landscape At ion, Brinker leads product development and technology operations for the company, whose software has been adopted by organizations worldwide like American Greetings, DHL, eMusic, Inuit and Juniper Networks. He also writes about marketing technology management on his blog at chiefmartec.com; frequently speaks at industry events such as SES, SMX, Pubcon and Search Insider Summit; writes a regular column for Search Engine Land; and is co-author of the book “Honest Seduction: How Post-Click Marketing Turns Landing Pages Into Game Changers.” He is also the host and producer ot the influential Marketing Technology Conference. From the transcript: Michael Krigsman: (05:09) No, she’s really good. Okay! So, this marketing technology landscape, first off, what do you… What do you define as “marketing technology?” Is that kind of a dumb question? Or, is that a reasonable question? Scott Brinker: (05:25) Well, yes and no. Alright, so on one level, yeah, what is marketing technology? Well, we know that the simple definition would be the technology used for marketing. But, it turns out, actually, where things get interesting is when you ask, "Well, what do you mean by ‘marketing' and what do you mean by ‘technology'" because let's just take the marketing one for the moment. I mean, one of the things that are happening here in the marketing profession and the marketing industry is just this incredible scope explosion, right? I mean, marketing used to largely, once upon a time, be almost synonymous with advertising. You know, PR and the folks who put together the brochures, you know? And marketing still has all those responsibilities as well, too. But, right in this digital environment, we've added all these new things associated with the website, you know, mobile experiences; how does customer experience live from the very beginning of a prospects-first touch point all the way to, you know, ongoing customer success loyalty programs? You know, the whole social sphere; how does that fit into that? How are we managing social relationships? Influencers, right, to Shelly… (06:37) I mean, […] how companies go out and manage the different people in their environment, too. They develop those relationships with the help of the social space. I mean, I can go on and on, but the scope explosion in marketing is one of the reasons there’s been an explosion of marketing technologies. So, if you look across that landscape, there are just so many different kinds of activities and opportunities that marketers have in the digital world that, yeah, the explosion of tools is simply a reaction to that to help marketers deal with all of these new touchpoints. -- (16:03) You know, a lot of these marketing and technology leadership positions do require a nontrivial amount of technical death, right? There is some actual architecture happening here, right? We have to think through things like SLAs. Even if the marketing is running the technology team under their organization, you know, this cannot be a rote group, right? It has to be interfacing with corporate IT. There were considerable issues here around just governance. So, you know, having folks who understand that is really, really important. (16:35) I think that the one caveat I’d add to this is while I think that marketing technologists need to have some pretty good technical chops, whether they came originally from a marketing background or software background, but you know, today, they need to have somehow acquired those technical chops. I don’t think that everyone in marketing needs those kinds of technical chops. The analogy often used is like with graphic design, right? Marketing uses graphic design and there are amazing graphic designers! Hopefully, your marketing team has access to one you want to leverage. (17:12) And so, marketing as a whole needs to understand that graphic design is an important part of what we do; we need to know who we’re going to turn to for that resource. The rest of the organization needs to be able to leverage it but not every marketer needs to be a brilliant graphic designer. It’s kind of the same thing with marketing technology. Every marketer needs to be comfortable with this technology being a part of their toolset, you know, and really focus on how do they use those tools to deliver compelling marketing. But, they don’t need to be technologists themselves.
Views: 5519 CXOTALK
Data is disrupting the HR field and can help strategize a common mission across various jobs within a company. Jeffrey Stevens, chief human resources officer at Thomas Jefferson University and Jefferson Health, tells CXOTalk about how two Philadelphia universities and five formerly independent health systems merged into a $5.5 billion enterprise with 35,000 employees. “I like to use the expression, ‘I’m capitalizing on the chaos.’ We can do by design, and I think HR people have thought about, what would you do in performance, in learning, in connecting jobs? We can do that, by design, what was unavailable to do by consensus,” Stevens says. “Most people in my seat think, first and foremost, about the operability of systems, the functionality of systems. I think about the experience of each individual employee.” For more information see https://www.cxotalk.com/video/hr-transformation-data-driven-strategy-jobs Stevens has been EVP and CHRO at Thomas Jefferson University Hospitals in Philadelphia since 2015. This interview conversation on the Intelligent Enterprise was recorded at SAPPHIRENOW 2018 as part of the SAP Select program.
Views: 6746 CXOTALK
What does digital transformation mean for oil refining and logistics? Tim Harris, chief information officer of Andeavor, tells CXOTalk how the organization has moved entirely to the cloud and become the first oil and gas company running SAP S4. More videos and the full transcript: https://www.cxotalk.com/video/digital-transformation-oil-refining-logistics-cloud “We were a fairly conservative company with some traditional process. Now that we’re in the cloud, we do have the ability to work from anywhere. We can access our data securely from anywhere. You don’t have to jump through a bunch of hoops and a bunch of extra passwords to get there. It’s very secure but, at the same time, it’s very seamless,” Harris says. “Now, the expectation is real-time analytics, real-time data, and real-time insights across the entire business.” Harris has been CIO since 2016 at Andeavor, where he previously led a newly formed division to deliver shared services across IT, finance and corporate functions. Before that, he was the founder of CloudSource and headed global technology services at Mylan. This video was recorded at SAPPHIRE NOW 2018, as part of the SAP Select program for its largest customers. The focus of this event was Intelligent Enterprise.
Views: 8987 CXOTALK
Data, artificial intelligence and machine learning are having a profound influence on healthcare, drug discovery, and personalized medicine. On this episode, CXOTalk host, Michael Krigsman, talks with two data experts innovating in healthcare with data. For more information and complete transcript, see https://www.cxotalk.com/episode/healthcare-innovation-data-ai Milind Kamkolkar is the CDO of Sanofi, a company focused on empowering lives through human health. Milind’s focus is driving and transforming Sanofi from a data generation organization to an insights generating organization where data is a monetizable asset class on par with product and shareholder value. Hicham Oudghiri is Co-founder and CEO of Enigma. Previously, he managed the private sustainable finance program at BMCE Bank, in partnership with the World Bank Group, to create energy models for large-scale alternative energy projects across Africa. Prior to that, he supported an energy fund in Dallas, Texas where he was responsible for hedging physical energy assets against modeled counterparts in the electronic markets.
Views: 6765 CXOTALK
Loot Crate has quickly grown from a small company curating collectibles into a huge “geek” subscription service connecting pop culture, comics and video game fans with T-shirts, figures, and other fun items. Erich Gazaui, chief information officer for Loot Crate, tells CXOTalk about the business’ continued efficiency and connection with customers as it maintains hyper-growth. For more information and the full transcript, see https://www.cxotalk.com/video/loot-crate-customer-experience-hyper-growth “It’s about prioritization,” Gazaui explains. “I think we have a great design team and a curation and procurement team that really get connected with the fans, understanding how to build the themes within these crates, and how that connects with things in the fan’s life that may be external to the company, such as movies, theme parks, and things like that.” Since 2016, Gazaui has been CIO at Loot Crate, a membership company that provides subscribers with a monthly crate of curated collectibles for nerds, video game fans and more. Gazaui focuses on building successful engineering and business systems teams; he previously founded NDP Managed Security, served as president of Chartscape, and led TrueCar’s enterprise platform. Thank you to Oracle NetSuite CRM and ERP for making this video talk show interview possible,
Views: 9509 CXOTALK
Artificial intelligence is helping companies be more efficient, saving costs and improving customer service and experiences. Edwin Van Bommel, Chief Cognitive Officer at IPsoft, tells industry analyst Michael Krigsman of CXOTALK at the IPsoft Digital Workforce Summit in New York about how the Amelia AI platform can solve customer service problems. AI, for example, can assist with password changes or client account updates, while freeing up employees for other services -- or reducing overall cost. See more information: https://www.cxotalk.com/video/customer-service-how-amelia-ai-improves-efficiency Amelia's cognitive computing capabilities allow her to converse with clients and customers in natural, context aware dialog at more than 50 global organizations. Von Bommel explains that Amelia needs three things: Data to understand the client's needs, data to solve those problems, and analytics to make the AI experience even smarter. The AI platform boasts conversational intelligence, advanced analytics, a smart workflow with enterprise systems and self-learning to continually improve on every interaction. "We have a passion for really beating the Turing Test, and really making it possible that when you talk to Amelia, you actually wouldn't know whether you are talking with a human or with a machine," Van Bommel says. From the transcript: Michael Krigsman: What are some of the key use-cases that your customers are applying Amelia to? What are the problems that they are solving? Edwin Van Bommel: Let me first discuss the use-cases, and then the problems. So, there are three different types of use-cases. The first one is really interactions with their customers, for both services and sales. The second one, some clients just want to support their people with assisted intelligence. So, for instance, we have a case where there are unlicensed agents, and they want to make sure that unlicensed agents really stay within the rights they have, and what they need to do, so really a compliance case. And those unlicensed agents are talking with Amelia and saying, "Look. This client wants to move and change an address," and Amelia will ask a couple of questions which the agent then checks with the client. And depending on the case, she will say, "Okay, you can do the address change," or "this is a specific service." And, truly, I learn a lot but its' truly different by state. So, Amelia understands by state what is allowed and not allowed. And then the third one is there is, within companies, a lot of processes which employees need to run, which are, honestly, just a waste of their time, like passwords where Amelia becomes more like an internal service agent and make them more productive. And when I talk with my clients, what I want to resolve is they want to, first of all, improve their customer experience much more, overall. But secondly, they want to free up time for their expensive people so that they can really spend more on value-added task. So, one of the speakers here, one of our banking clients, actually made a point earlier today that he said, "We really have not more time in the call center to deal with really very human and complex problems that our clients have." And their employees are actually super happy that they now have more time to help their clients with that.
Views: 6438 CXOTALK
What does digital transformation mean for drug companies? Milind Kamkolkar, Chief Data Officer at Sanofi, speaks with CXOTalk co-hosts Richie Etwaru and Michael Krigsman about innovation and changes in the pharmaceutical industry. For more, see https://www.cxotalk.com/episode/digital-transformation-pharmaceutical-industry-innovation Sanofi is a company focused on empowering lives through human health. As CDO, Kamkolkar focuses on driving and transforming Sanofi from data generation to an insights generating organization where data is a monetizable asset class on par with product and shareholder value. Kamkolkar is also a featured speaker and thought leader in Digital Health, AI & Big Data; Honorary Lecturer for physician entrepreneurship at BartsX; Faculty at Exponential Medicine; and Special Advisor to the UN Global Sustainability program. Etwaru is Chief Digital Officer at QuintilesIMS, helping bridge the innovation and efficiency gap for healthcare stakeholders and life sciences customers using analytics and technology. He’s a former CDO at IMS Health, a frequent keynote speaker at leading tech-related events and forums, a serial entrepreneur, an author, a former Clinton Global Initiative delegate, and currently serves as a board member for multiple not-for-profit organizations. From the transcript: Michael Krigsman: (05:00) What are we actually speaking about and how does this relate to the broader changes that are going on regarding healthcare and ultimately, the impact on healthcare for people? For patients? Richie Etwaru: (05:24) Well, I think most of us understand siloes pretty well, right? These are vertical departments within large companies that tend to perform a specific function. And then they perform that function well, but if you look at multiple of those siloes together as a broad organization, you’ll see inconsistencies and gaps to be solved for. I think, with the pharmaceutical industry, there was a time when it was okay to have siloes. Not that you wanted them, but if you had them, it was not the biggest deal in the world, and we’re seeing what I like to call the “three waves” of change enter the environment of the pharmaceutical industry that’s creating the financial reality and quite frankly, the competitive reality, to start to think about what the business model looks like and take the siloes out. These three waves, I think, most people would recognize. (06:15) Now, the first wave is what came from the supply side. So, I think of this as the patent cliff, right? I think we’ve heard enough about the patent cliff that the supply of discovery of drugs in the pipeline has changed quite a bit. And, the good thing about the patent cliff is that it was sort of contained within the pharmaceutical industry, right? Yes, there was some implication too of the stakeholders, but it didn’t radically change the landscape because each pharma company was suffering from the same strain from a supply side. (06:47) The second wave is what I like to call the wave coming from the demand side. This is the influence and the pressures of reimbursement being changed, payment terms being changed. I think what we see in the United States with Obamacare and the model of delivery has created a tremendous amount of strain that created a whole new wave of pressures for the pharmaceutical industry. So, I think that’s the second wave. (07:18) Where we are today is what I like to call the “third wave” of change that’s coming through the pharma industry. And, this is the digital health and technology paradigms that are entering at the same time. Now, the patent cliff is not completely solved for. That's still moving over, right? The changes in the […] are not completely solved for. That's still here. And, we have this new wave that's being driven by this new stuff that Milind is talking about, which is more data, digital health, some of the new technology paradigms. What's interesting about this third wave is that it is not self-contained in the pharma industry or healthcare. Milind Kamkolkar: (14:46) Yeah. I mean, if I could just add one last thing, Michael, to that point, I think where the time, perhaps has that risk-averse nature in the pharmaceutical industry is that perhaps I’m like… banking in other such industries… The reality is that if you get this wrong, people die, right? And that’s the real crux of it. So, I can fully appreciate and respect the fact that sometimes, you do want to be a little bit cautious because, of course, who wants to create a medicine or some kind of patient service that really is not yielding a positive outcome? (15:19) So for one, I'm quite grateful for the fact that we are basing more medication and pricing, and reimbursements, etc. really on health outcomes. But I think, in many ways, it's not just the actual medicine that has to take into play, it's also the customer experience at point of treatment that needs to be part of that equation as well.
Views: 11968 CXOTALK
Digital transformation is one of the most important topics facing retail today. Our guest, Shashank Saxena is the Director of Digital and e-commerce technology at Kroger, one of the world's largest retail organizations. Join us for a dive into the retail, digital, analytics, user experience, and business models. Shashank Saxena is the Director of Digital and e-commerce technology at Kroger Co. As part of this role he manages the Web, Mobile, Tablet, e-commerce and shared service app development teams. Shashank is currently working on his second Digital transformation for a Fortune 25 company. Prior to joining Kroger Co. Shashank was at Citigroup where he lead the Strategy and Planning function for the Global Mobile Banking line of business. Prior to that, Shashank was part of the Project Management Office (PMO) at Citi where he successfully lead multiple Internet and Mobile programs. He was responsible for managing the Mobile Check Deposit, Google Wallet, Mobile P2P payments, LATAM Mobile banking and multiple other programs for Citibank. He was one of the founding members of the Global Mobile Center of Excellence (CoE) at Citi. Prior to this stint with Citi, Shashank worked at Uptown Consortium, Dell computers and Target Corp. He has an MBA in Finance and an MS in Information Systems from the University of Cincinnati along with a BS in Computer Science. Shashank is also an adjunct faculty member at the University of Cincinnati, Lindner College of Business where he teaches Digital and emerging channels marketing. He is also a mentor at The Brandery and Kroger’s liaison to Cintrifuse (fund of funds). CXO-Talk brings you live conversations on leadership, innovation, and transformation with people shaping the future. Your hosts are Michael Krigsman and Vala Afshar. Learn more at http://cxo-talk.com ------------------ Check out all the CXOTALK episodes: https://cxotalk.com/episodes ------------------ Follow us on Twitter: https://twitter.com/cxotalk ------------------
Views: 3219 CXOTALK
The financial services industry is undergoing digital disruption and change. Insurance, as part of that industry, also faces new opportunities and challenges. To explore these issues, I spoke with the CIO for Information at Swiss reinsurance giant, Swiss Re. Rainer Baumann handles the data and tools that experts inside the company use to understand and evaluate a broad range of insurance risks. Unlike traditional insurance, where the company sells policies to individual buyers, reinsurance offers a backstop to other insurance companies. For this reason, the reinsurance business is all about experts gathering and analyzing information on a wide variety of topics. Baumann is creating a digital workplace to bring these experts information on topics ranging from weather to cyber risk to farming in Africa. Because these experts form the core of Swiss Re, issues such as future of work and adopting new processes and technologies are crucially important to the company. See the full ZDNet blog post: http://www.zdnet.com/article/digital-transformation-in-the-insurance-industry/ ------------------ Check out all the CXOTALK episodes: https://cxotalk.com/episodes ------------------ Follow us on Twitter: https://twitter.com/cxotalk ------------------
Views: 8251 CXOTALK
Collaboration between Marketing and Sales is a prerequisite for customer success today. However, marketers must use data and analytics to gain insight into customer behavior and establish a personalized relationship with buyers. For more information: https://www.cxotalk.com/video/accelerate-sales-data-analytics Rishi Dave, the Chief Marketing Officer at iconic brand Dun and Bradstreet, explains how to use data to achieve these crucial customer relationship goals. As CMO, Rishi oversees all of Dun & Bradstreet's marketing including brand, customer analytics, marketing technology, social, demand generation, digital marketing, events, creative, and content. Rishi Dave, Chief Marketing Officer for Dun & Bradstreet, oversees all marketing for the company including brand, customer analytics, marketing technology, social, demand generation, digital marketing, events, creative, and content. From the transcript: (00:07) I’m Michael Krigsman, an industry analyst and the host of CxOTalk. And, I’m speaking with Rishi Dave, who is the Chief Marketing Officer of Dun & Bradstreet. So Rishi, tell us about Dun & Bradstreet. Rishi Dave: (00:20) Yeah. Dun & Bradstreet is a global company squarely in the data analytics space. We have data on 265 million businesses around the world, updated three million times a day. Michael Krigsman: (00:32) It’s quite extraordinary! How have buyers and their expectations changed over time? Rishi Dave: (00:38) Boy, if you think about what the experience today with companies like Uber or Amazon, they really expect a company to understand and know them, and know the main pain points that they’re trying to solve and then when they interact with the company, they expect the company to have the backbone on them and actually be very targeted and personalized in how they interact with them. Michael Krigsman: (01:01) And so, how does the availability of this data create that sense of personalization or even, can I say, sense of intimacy, with that customer? Rishi Dave: (01:12) Well, there are three key things that we see. One is that there’s a lot of data out there. And so, first and foremost, companies are increasingly taking all that data and structuring it and cleaning it. Secondly, they’re using analytics and other ways to really understand what that data means. And thirdly, they’re surfacing those insights in a way that people and systems can take action on them. Michael Krigsman: (01:39) When you say, “Take action,” can you elaborate on that, please? Rishi Dave: (01:43) So, a salesperson may, for example, see within their CRM that based on all the data that the company has, this customer has the highest propensity to buy this type of product and this is the right person. And by the way, this person was recently promoted to this position. That's a lot of great information they can use to target the person at the right time, new to […], with the right information saying, "Okay, this is the exact solution that the data are telling us they need." Michael Krigsman: (02:11) But, it’s not just sales, right? Their marketing has to work lockstep with sales, as well. And, that’s been a problem for many companies that silo. So, how do we get around that and unify, bring together, marketing and sales? Rishi Dave: (02:24) Marketing has a larger and larger role. If you think about it, the marketer plays a very large role in architecting the right experiences before the customer even goes to a salesperson or even decides to talk to your company. Then, once it gets to a salesperson, that salesperson has to be enabled with the right data, content, etc. And, marketing also can play a very large role there, as well. (02:50) So ultimately, that requires sales and marketing to be very close and work very closely together. So, kind of garner the days when marketing says, "Okay, I'm going to generate as many leads as possible," and sales says, "I'm focused on closing." Now, everyone needs to focus on closing sales because both marketing and sales have a role in that."
Views: 6612 CXOTALK
What is data science and how can we use it in business most effectively? Data science is not about the latest shiny tools, but understanding business problems and data. Industry analyst Michael Krigsman, the host of CXOTalk, speaks with one of the world's foremost data scientists to explore this exciting frontier. For more information and the podcast: https://www.cxotalk.com/episode/demystifying-data-science Anthony Scriffignano is the Chief Data Scientist at Dun and Bradstreet. He has over 35 years experience in information technologies, Big-4 management consulting, and international business. Sciffignano leverages deep data expertise and global relationships to position Dun & Bradstreet with strategic customers, partners, and governments.
Views: 7859 CXOTALK
Artificial intelligence is fraught with legal, ethical, and public policy challenges. This episode brings two esteemed experts to discuss these issues and present guidance for both commercial companies and the public sector. Dr. David A. Bray is CIO of Federal Communications Commission. He began work in public service at age 15, later serving in the private sector before returning as IT Chief for the CDC’s Bioterrorism Preparedness and Response Program during 9/11; volunteering to deploy to Afghanistan to “think differently” on military and humanitarian issues; and serving as a Senior Executive advocating for increased information interoperability, cybersecurity, and civil liberty protections. He serves as a Visiting Executive In-Residence at Harvard University, a member of the Council on Foreign Relations, and a Visiting Associate at the University of Oxford. Kay Firth-Butterfield is a Barrister and part-time Judge and has worked as a mediator, arbitrator, business owner and professor in the United Kingdom. In the United States, she is Chief Officer, and member, of the Lucid.ai Ethics Advisory Panel (EAP) and an adjunct Professor of Law. Kay is a humanitarian with a strong sense of social justice and has advanced degrees in Law and International Relations. Kay co-founded the Consortium for Law and Policy of Artificial Intelligence and Robotics at the University of Texas and taught its first course: Artificial Intelligence and Emerging Technologies: Law and Policy. She is Vice Chair of the IEEE Industry Connections Committee “Global Initiative for Ethical Considerations in the Design of Autonomous Systems”. For more, see https://www.cxotalk.com/episode/ai-legal-ethical-policy-challenges ------------------ Check out all the CXOTALK episodes: https://cxotalk.com/episodes ------------------ Follow us on Twitter: https://twitter.com/cxotalk ------------------
Views: 9213 CXOTALK
Can we apply approaches from the lean startup movement to create social change faster and more effectively than ever before? Author and innovation executive, Ann Mei Chang, wrote a book explaining how to use lean principles to drive exponential change in non-profits. For more videos and the full transcript: https://www.cxotalk.com/episode/empowering-social-impact-lean-principles Ann Mei Chang is a leading advocate for social innovation and author of LEAN IMPACT: How to Innovate for Radically Greater Social Good (Wiley, Nov. 6, 2018). As Chief Innovation Officer at USAID, she served as the first Executive Director of the U.S. Global Development Lab, engaging the best practices for accelerating impact and scale from Silicon Valley for the world's most intractable challenges. Previously, Ann Mei was the Chief Innovation Officer at Mercy Corps, and served the U.S. Department of State as Senior Advisor for Women and Technology in the Office of Global Women’s Issues. Prior to her pivot to the public sector, Ann Mei had more than 20 years’ experience as a technology executive at such leading companies as Google, Apple and Intuit, as well as a range of startups. As Senior Engineering Director at Google, she led worldwide engineering for mobile applications and services, delivering 20x growth to $1 billion in annual revenues in just three years.
Views: 6515 CXOTALK
Workday is one of the leading software-as-a-service (SaaS) cloud computing companies in the world. In this video, three respected industry analysts examine Workday, its products such as HCM and Financials, and competitive position in the market. Learn from three top industry analysts as they examine this important enterprise software company. Brian Sommer founded Vital Analysis in 2007 based on the success of his TechVentive, Inc. launch several years earlier. Brian closely follows what C-level executives think, feel and need. Jason Averbook is a leading analyst, thought leader, consultant and keynote speaker in the area of human resources, the future of work and the impact technology has on that future. He is the CEO of LeapGen. Bill Kutik is one of the top four influencers in the HR technology marketplace. In 2015, he started Firing Line with Bill Kutik®, a new independent broadcast-quality video interview program about HR technology. Michael Krigsman is an industry analyst and host of CXOTALK. Everyone in HR, financial management, and IT pros, such as the CIO, should watch this video. Learn more about Workday at https://www.workday.com ---------------------- From the transcript: Ok. So, Workday. Let’s begin with an overview: why is Workday important in the market? Jason Averbook: Workday was the first SaaS company that actually designed their solution. Once again, like I said, for the worker not thinking about the HR department and the finance department first. ... What Workday did is Workday actually reimagined those processes, put them online with the worker being the center of it, and then having HR and finance be there to consume that data and to use that data in a way that drives business decisions. Jason Averbook: We have to think about the experience; the experience of the worker at the core, and I think that’s just a different design principle that was from day one at Workday. Michael Krigsman: So, you were talking about placing the customer at the center of the world, and I’m really interested in the corporate cultural dimensions of that. Why didn’t earlier software companies take that step? Bill Kutik: Workday truly does have a unique culture, similar to the PeopleSoft culture, which Dave will say, puts employees first. Every other company will talk about how they put customers first. Workday says “Employees first, because if employees are happy, they will make our customers happy.” And the fact is, at the last rising, Aneel Bhusri announced that they got a 98% customer satisfaction rating from some outside agency… They got a 98% customer sat., and I would challenge any software company in the world to meet that! Brian Sommer: Customer satisfaction, or net promoter scores and the ERP space are notoriously terrible. And they’re terrible because either the products were a whole lot more expensive and more difficult to implement than anybody actually believed coming in, or more importantly, the vendors have such a notorious culture going for after their own customers doing what an attorney friend of mine calls “shale fracking,” they try to go in there and break up the wallet of the customer and get every little drop of money they can out of them. The fact that people get a lot of good, new functionality quite frequently and that the vendor is maintaining that version of the code for them, instead of their IT department, you’ve got customers that are happy because they don't have to wait on their own internal CIO and IT to implement this backed up technical data. So it’s great! Michael Krigsman: Workday emphasizes its platform. It’s not the only software company to do that, but it really presents the platform in a central way. So, what is the importance of platform analytics? Brian Sommer: I’ll weigh in on this. On the platform: theirs is an interesting one, in that it predominantly uses a number of open-source technologies, which gives them an incredible cost advantage over competitors. They can scale and add customer, after customer, after customer and they owe no additional fees to some third-party systems software company. So that’s a good thing. Number two is the platform only really has to support one technology stack and one set of code. … many of their competitors have multiple different product lines that they’re supporting. In some cases, one vendor has promised to support old applications on the old platforms in perpetuity. That just adds cost to the vendor. Cost, you’ll have to get eventually passed down to the consumer or the customer, or whatever you want to call the vendor. They don’t have that. They’ve got one stack, one set of technologies. And the architecture of this stuff, to run predominantly in memory. So now, they’ve run all these additional extensions so that the product line can support other types of data, not just structured, heavy order kind of database transaction and information.
Views: 8549 CXOTALK
For the full transcript, see https://www.cxotalk.com/episode/futurist-david-shrier-blockchain-ai-fintech-digital-identity-you The future of cybersecurity rests on AI and machine learning. A prominent futurist, author, and entrepreneur explains what you need to know. David Shrier is a globally recognized authority on digital identity and financial innovation. He is the founder and CEO of Distilled Analytics, a machine learning company derived from MIT research that is the world’s leader in Predictive Identity. He also leads the University of Oxford’s online programmes Oxford Fintech and Oxford Blockchain Strategy, as well as MIT’s Future Commerce (the first graduate fintech class in North America), all of which he created. He has published multiple books on fintech, blockchain and cybersecurity. In addition to his role with Distilled, he is Vice Chairman of Endor, a blockchain-enabled crowd intelligence platform, and Chairman of Riff Learning, an AI-driven collaboration technology platform provider. David is an Associate Fellow with the Said Business School, University of Oxford; Lecturer at the MIT Media Lab; and Fellow with the Payne Institute at the Colorado School of Mines. David counsels the Government of Dubai on blockchain and digital identity; Millennium Advisors, a middle market credit liquidity provider, on technology trends; the OECD, on blockchain policy and standards; and Ripple, a blockchain cross-border payments company, on strategy. He previously advised the European Commission on commercializing innovation with a focus on digital technology. David is on the advisory board of WorldQuant University, a program offering a totally-free, accredited, online Master’s degree in financial engineering. He is presently a member of the FinTech Industry Committee for FINRA, the U.S. securities industry’s self-regulatory body; and the Fintech Trade & Investment Steering Board for the UK Government’s Department of International Trade. David also informally consults with the European Parliament, European Commission, and OECD on digital identity, AML/KYC, blockchain, and AI. He specializes in helping established organizations to build new revenue, having developed $8.5 billion of growth opportunities with C-suite executives for Dun & Bradstreet, Wolters Kluwer, Ernst & Young, GE, The Walt Disney Company, AOL Verizon, and Starwood, as well as private equity and VC funds. He has led a number of private equity and venture capital-backed companies as CEO, CFO or COO. David and MIT Professor Alex “Sandy” Pentland have published books including Frontiers of Financial Technology, New Solutions for Cybersecurity, and Trust::Data. He also co-edits, together with Professor Pentland, the Connection Science imprint of MIT Press. David Shrier was granted an Sc.B. from Brown University in Biology and Theatre, and worked professionally as a dramaturg and director after college.
Views: 7271 CXOTALK
Managing mission-critical vendors is a challenge for every CIO and IT organization. To read the complete transcript, see: https://www.cxotalk.com/video/autonation-managing-mission-critical-it-relationships In this segment, Adam Rasner, who manages IT infrastructure for AutoNation, the largest automotive retailer in the US., shares his advice on managing crucial vendor relationships: Michael Krigsman: Are there metrics or KPIs? How do you go about making that evaluation? Adam Rasner: There are hard metrics. The solution we were using previously, we were dealing with something like 6,000 backup failures a month from hardware issues, software problems. Basically, almost 60%, 70% of an FTE, a full-time employee, babysitting backup jobs to now we're dealing with a few a month, and we actually can go in and have a good understanding of what's causing those and remediate. There are soft things that you measure and feelings that you get, and then there are hard statistics. We're winning on both ends of that. Watch the video to learn how AutoNation manages the relationship with its critical partner, secondary storage vendor Cohesity.
Views: 6267 CXOTALK
How can digital transformation change a company’s culture? Heidi Wood, senior vice president for strategy and technology at L3 Technologies, speaks with CXOTalk about how the U.S. defense company uses IT, data and SAP to keep a radically transparent focus on the future. Leadership, talent management, and employee benefit are important themes. For more information and the complete transcript, see https://www.cxotalk.com/video/changing-company-culture-data-technology “True strategy involves really looking out into the future. Many of us can look into the near term. It’s very comfortable. But, the deeper and farther you go out, the darker it gets and the scarier it gets,” Wood says. “You have to embrace innovation. You have to make that part of your corporate culture. You have to encourage risk-taking because that’s a necessary, and frequently not enough spoken about, element of innovation, which is the willingness to take risks, the willingness to be bold, put yourself out there, and be courageous.” Wood is the SVP for strategy and technology at L3 Technologies, the eighth largest U.S. defense company. She previously worked as a SVP for strategy at Spirit AeroSystems and as managing director and senior aerospace/defense analyst for Morgan Stanley. This conversation/interview was recorded at SAP SapphireNOW 2018 as part of the SAP Select program.
Views: 7123 CXOTALK
What is GDPR and how does it affect the customer experience? Alicia Tillman, chief marketing officer of SAP, tells CXOTalk about how general data protection regulation protects customers’ data with more transparency and trust, while changing the way businesses and CMOs operate. For more information and the complete transcript, see: https://www.cxotalk.com/video/gdpr-customer-experience “If somebody selects us as a partner to deliver any product or a service, they expect that, as part of that relationship, we’re also educating and working with them to help them understand different dynamics that are going to affect our relationship,” she explains. “This certainly will because this is something that is new and emerging and is, in fact, going to affect the way that we operate. And so, we live in a world today that’s very transaction oriented, and what becomes lost when that is the method in which you operate with customers is you lose this well-rounded relationship that customers expect when they partner with a person or an organization. Part of that is information sharing, helping to guide them through ups and downs or things like GDPR that are going to have an effect. That’s when the notion of trust comes in.” Tillman is the chief marketing officer of SAP, where she’s responsible for creating and accelerating the company’s marketing strategy and brand recognition across the globe. She is focused on driving the company vision of helping the world run better and improve people’s lives by building marketing programs and thought leadership to promote our exceptional product innovation and purpose-driven initiatives. She previously worked at American Express, where she created the first ever business travel industry forum in China and created the first customer loyalty product in the industry that used gamification mechanics.
Views: 9670 CXOTALK
BroadSoft is a premier company in the unified communications market, with contact center and collaboration solutions. At its recent customer event, the company announced that it had entered into an agreement to be acquired by Cisco for approximately $2 billion. In this video conversation with CXOTalk’s Michael Krigsman, BroadSoft’s Chief Digital & Marketing Officer, Taher Behbehani, summarizes key themes and explains why user experience and customer experience are so important. For more information: https://www.cxotalk.com/video/broadsoft-connections-2017-summary-key-themes Taher Behbehani is an entrepreneur and investor in firms driving digital disruption. As CDMO at BroadSoft, he is responsible for the company's digital and marketing efforts. From the transcript: Michael Krigsman: Tell us about the key themes at this event! Taher Behbehani: Absolutely! The key theme of the Events Connections 2017, is “Re-think innovation.” We need to really re-think how we innovate, not across just technology, but also our processes. How we take products to market, how much time it takes, how we manage to change the customer experience throughout that process. So, basically the idea is that we have all the technology we need.Let’s actually look at the innovative processes that we have to spend effort and energy on in taking products to the market. Michael Krigsman: So, why is user experience, customer experience, so important today? Taher Behbehani: Well, look, in any industry nowadays, everything around us, customer experience is the key differentiation factor. If you are using an application or device or a system in your work, you need to be looking forward to using it. Otherwise, frankly, you’ll ignore it. And our customers tell us. Our service providers tell us. And we want to make sure we create an experience that’s very close to, or better than, some of the consumer experience you get. Michael Krigsman: So, what are the implications of this, as they’re developing new products and new services? Taher Behbehani: Right. So, our philosophy is open-platform: APIs, SDKs — interfaces that you can connect to the devices, to a platform, then develop applications and services around ti. So, that by default, means that the developers that we have, whether they’re software or ecosystem, they need to also adjust and improve the experience by connecting to our platform, which we call, by the way, BroadSoft Business. And, the third part of it is whatever we do together, whatever we develop together, we need to make sure that the new experiences and the improvements or additions or enhancements — whatever you want to call them — they’re actually driven to market, presented to the marketplace much faster. That the cycles of innovation, the time to market, which is the main message, is actually much shorter for us as well. Michael Krigsman: And this is all being driven by consumer expectations? Taher Behbehani: Well, you know I think what we do is, is we compare ourselves and we benchmark against the best in-class consumer experience. The consumer side now spills over very much into the business side because we are the same people. We just happen to work part of the day. Michael Krigsman: Where does mobility fit?? Taher Behbehani: Massively. Mobility is everything. I mean, I think that, that the discussion that people have usually about “mobile-first” frankly is no longer actually even should be used. It’s a cliché. I mean everybody is mobile. So, there is no mobile-first, -second, or -third. It’s just mobile. We call it unified communications. Michael Krigsman: Now, on the enterprise side, what are some of the technology, as well as the organizational or process challenges and opportunities that they need to think about?? Taher Behbehani: The implications are actually quite severe because we’re being hard on ourselves and somewhat controversial. And that’s because our service-provider partners tell us to do so. We’re telling people, “Listen, this is taking too long.” Relying on existing systems which are very convoluted and require a lot of time to wire and re-wire and take a long time to create, to take our innovation into the marketplace is not acceptable. So, we’re saying, “We gotta change.” We gotta change the OSS, the provisioning, the onboarding, all of the billing systems and somehow make it much more streamline.
Views: 6953 CXOTALK
Farnaz Bengali, VP of Enterprise Applications at MicroStrategy, speaks with CXOTalk about digital transformation and the new services economy. The enterprise software company uses FinancialForce to manage IT, treating clients and internal projects alike as customers for the business intelligence tool. See more at: https://www.cxotalk.com/video/digital-transformation-microstrategy-it-business-intelligence “Just like if you were to hold a product conference like the one we’re at right now, you would bring sales and marketing into the table. You’d try to think about what customers you want there, who you’re marketing to, all those kinds of things,” Bengali explains. “I’m also trying to bring IT to that table; the internal IT department. You may be looking at three different venues. We can help you understand which of your venues are going to accommodate the people that you need from a wireless and infrastructure perspective. We can also think through what kind of support you need at the conference so we can bring that expertise to the table, and focus the decision to be better because now, you’ve got more facts.” From the transcript: (02:01) At this conference, there has been a lot of talk about the new services economy, and it sounds like you are applying this concept directly to your work inside IT. Farnaz Bengali: (02:11) I’m trying to make IT a services organization. They have customers. Their customers are corporate and around the organization, but we should treat them as if they were external paying customers. Michael Krigsman: (02:21) And, you actually are using FinancialForce to manage IT as if it’s a professional services organization, in fact. Farnaz Bengali: (02:26) Yes. We primarily implemented the PSA tool to manage our consulting arm, because we do external services out to our clients and customers. But, I’m actually also using the tool to manage my internal projects. (02:56) What are the challenges involved in rethinking IT from this service perspective? Farnaz Bengali: (03:13) Making them understand the value and the proposition we bring to the table. I've done that by ensuring that not only do I have the right IT people in the organization, but I've also hired-in a marketing person, somebody who's got a finance hat on, somebody who's got an accounting hat on, a sales hat; in the past, so that we're bringing that expertise to the table from a decision-making perspective.
Views: 5658 CXOTALK
Zillow is one of the largest real estate and rental marketplaces in the world, with a database of 100 million homes in the US. The company pioneered data-driven, automated home value estimates with Zestimate. On this episode, we speak with Zillow's Chief Analytics Officer and Chief Economist, Dr. Stan Humphries, to learn how Zillow uses data science, statistics, artificial intelligence, and big data to make real estate predictions as part of the digital transformation of real estate. Dr. Stan Humphries is the chief analytics officer of Zillow Group, a portfolio of the largest and most vibrant real estate and home-related brands on Web and mobile. Stan is the co-author of the New York Times Best Seller “Zillow Talk: The New Rules of Real Estate.” Michael Krigsman is an industry analyst and host of CXOTALK For more information, see https://www.cxotalk.com/episode/data-science-zillow-stan-humphries-chief-analytics-officer ------------------ Check out more CXOTALK episodes: https://cxotalk.com/episodes ------------------ Follow us on Twitter: https://twitter.com/cxotalk ------------------- From the transcript: Stan Humphries: (01:31) I’ve been with Zillow since the very beginning back in 2005, when what became Zillow was just a glimmer in our eye. Back then, I worked a lot on just algorithms, and some part development pieces; kind of a lot of the data pieces within the organization. We launched Zillow in February of 2006, and back then, I think people familiar with Zillow now may not remember that between our first couple of years between 2006 and 2008, all you could find on Zillow was really all the public record information about homes and displayed on a map. And then, a Zestimate, which is an estimated the home value of every single home, and then a bunch of housing indices to help people understand what was happening to prices in their local markets. But, we really grew the portfolio of offerings to help consumers from there and added in ultimately For Sale listings, mortgage listings, a mortgage marketplace, a home improvement marketplace, and then, along the way, also brought in other brands. So now, Zillow Group includes not only Zillow brand itself, Zillow.com but also Trulia, as well as StreetEasy in New York, Naked Apartments, which is a rental website in New York, HotPads, and a few other brands as well. So it’s really kind of grown over the years and last month, all those brands combined got about 171 million unique users to them online. So, it’s been a lot of fun kind of seeing it evolve over the years. (06:13) How has the Zestimate changed? Stan Humphries: (06:19) if you look at when we first rolled out in 2006, the Zestimate was a valuation that we placed on every single home that we had in our database at that time, which was 43 million homes. And, in order to create that valuation in 43 million homes, it ran about once a month and we pushed a couple terabytes of data through about 34 thousand statistical models, which we thought was, and was, compared to what had been done previously, was an enormously more computationally sophisticated process. But if you flash forward to today; well actually I should just give you a context of what our accuracy was back then. Back in 2006 when we launched, we were at about 14% median absolute percent error on 43 million homes. So what we've done since, is we've gone from 43 million homes to 110 million homes today where we put valuations on all 110 million homes. And, we've driven our accuracy down to about 5% today which, we think, from a machine learning perspective, is actually quite impressive because those 43 million homes that we started with in 2006 tended to be in the largest metropolitan areas where there was a lot of transactional velocity. There were a lot of sales and price signals with which to train the models. (07:52) What's in the rest of, as we went from 43 million to 110, you're now getting out into places like Idaho and Arkansas where there are just fewer sales to look at. And, it would have been impressive if we had kept our error rate at 14% while getting out to places that are harder to estimate. But, not only did we more than double our coverage from 43 to 110 million homes but we also almost tripled our accuracy rate from 14% down to 5%. (08:22) Now, the hidden story of how we’re able to achieve that was basically by throwing enormously more data, collecting more data, and getting a lot more sophisticated algorithmically in what we are doing, which requires us to use more computers. Just to give a context, I said that back when we launched, we built 34 thousand statistical models every single month. Today, we update the Zestimate every single night and in order to do that, we generate somewhere between 7 and 11 million statistical models every single night, and then when we’re done with that process, we throw them away, and we repeat again the next night. So, it’s a big data problem.
Views: 10985 CXOTALK
Digital transformation is affecting businesses everywhere, even “floating cities” in the middle of the ocean. Sol Rashidi, Chief Data and Cognitive Officer at Royal Caribbean, tells industry analyst Michael Krigsman at CXOTalk how the cruise line is changing, how data and AI are shaping travel, customer service, and more. For more information, see https://www.cxotalk.com/episode/royal-caribbean-ai-digital-transformation Rashidi offers insight on roles of women in technology, how to balance family and work in tech, and explain the responsibilities of a chief data officer. From the transcript: One doesn't usually think about data and artificial intelligence in the context of cruises. So, how do the pieces fit together? Sol Rashidi: (04:31) So, take what we’ve done in the airline industry, take what we’ve done with the hotel industry, take what we’ve done with consumer products and retail, understanding where they shop, what they typically buy, making suggestions… It’s all around enhancing the customer experience by knowing what they’ve done historically with us, and then being able to predict, suggest, or infer what they may like to do with us in the future. What better industry than the cruising industry to be able to apply that same skillset? So, that’s what we’re trying to do here at Royal. Michael Krigsman: Where does the data come from? What kind of data are you using? And then, what happens to that data? Sol Rashidi: (07:25) So, that’s… It’s a phenomenal question in that. The tagline of enhancing the customer experience, and sort of embarking on a more personalized approach, is the glamorous version of everything. The unglamorous version is the work that we actually have to do. With any company, and I’ve had the pleasure of working with the largest and the smallest of companies: financial industries, supply-chain, manufacturing… And as we all know, in all of our environments, there are a ton of applications and systems that capture data. And to unify this information is an extremely overwhelming and daunting task. So, we’re no different from any other company in that. We have multiple touchpoints. We have multiple organizations. We have multiple third-parties that we work with who quite frankly do a phenomenal job of booking these reservations for us. However, do we necessarily have control or influence over how the information is entered? No. Do we get all the information we want, when we want? No. (08:31) So, being able to join all these disparate systems with different formats, types, comprehensiveness of data, the back-end to sort of build a unified layer of who this guest is prior to them embarking is a very difficult task. And that’s what we’re currently doing. Being able to unify the guests. And, everyone loves to call it as like the 360-view or the 360-profile of a guest, but I think that’s like living in the land of hobbits and unicorns. I think we all strive for it, it’s a bit of a fantasy land, but the actual execution of it is very complicated. (09:10) So, the tagline and the glamorous version of it is more a personalized experience across the customer journey. But in order to do that, we have to codify all the different elements and facets and pieces of information that a guest shares with us and being able to make sense of it. And then, we have to be able to provide that into the right hands of the right individuals who are going to encounter our guests at different points of the journey. So, piecemealing it all together is what we’re taking on right now. Michael Krigsman: (09:37) I want to remind everybody that we're speaking with Sol Rashidi, who is the Chief Data and Cognitive Officer at Royal Caribbean. And right now, there is a tweet chat going on using the hashtag #cxotalk, and you can send in your questions, and we'll try to get to them. (10:00) So, Sol, you've got this data, you're building up this profile of the guest, and so, that's the first part of your job title of Chief Data Officer. But then, you're also the Chief Cognitive Officer. And so, where does the cognitive or AI dimension come into play? Sol Rashidi: (10:24) In multiple, multiple layers. Our biggest challenge is not necessarily how to apply cognitive capabilities, but where to apply because there’s just so much room for opportunity. Leveraging video analytics on the ship, leveraging video analytics prior to embarkation and check-in, leveraging past preferences, sailing information, to infer what they may want in the future, or even infer something they never tried but could potentially like based on other feedback. A lot of it is being able to predict, infer, and suggest in advance of the customer asking so that we could either do one of two things: either enhance the experience because they go, “Oh! I’ve never thought of that. That’s amazing!
Views: 5866 CXOTALK
Artificial intelligence can make companies dramatically more efficient, but investing in the technology can come with risks and complications. Tiger Tyagarajan, CEO of Genpact, tells Michael Krigsman of CXOTalk about the best strategies for buying AI to improve your business. For more see: https://www.cxotalk.com/episode/ai-invest-in-artificial-intelligence Tyagarajan says companies interested in AI sometimes adopt disparate solutions that aren’t properly connected across the entire organization. Genpact has launched Genpact Gora, which integrates automation, analytics, and AI engines into a single platform to tackle operational business challenges from beginning to end. Genpact Cora is already helping a pharma company refine drug safety, and assisting a financial services institution in cutting costs 75% from dealing with regulatory compliance issues. As CEO of Genpact, Tiger has overseen the company’s transformation from a division of GE in India into a leading global professional services firm with $2.46 billion revenue. Based in New York, Tiger frequently writes and speaks about artificial intelligence, global talent issues, continuous skill development, and the importance of building a strong corporate culture. He is also passionate about diversity and is a member of the WSJ CEO Council. Genpact is a global leader in consulting for digitally-powered business process management and services. For two decades, first as a General Electric division and later as an independent company, has been servicing hundreds of strategic clients, including approximately one-fifth of the Fortune Global 500. Today, Genpact employs over 75,000 people in 25 countries, with key offices in New York City. Michael Krigsman is an industry and host of CXOTalk. From the transcript: AI is just one of the many new digital technologies that are becoming more and more leverageable in the world we are in. That is changing the way work gets done. That is changing the way decisions get taken in the industry. So, every client wants to talk about it. We talk about it. We bring it in. But, the way to describe AI in that digital transformation journey is at the edge of that journey. It's at the pinnacle of that journey. It's at the edge where most value will potentially get created in the future in that journey. And also, to think about it, not just as AI, but a set of tools and technologies, one of them being AI, and probably the most valuable but really, most valuable when it's strung together. But, there’s then the second thing underneath that. When an enterprise thinks about leveraging AI, if they think about it on day one, as I want to leverage AI across my business, in its entirety, I think people run into one problem, which is it’s just too much of an ocean to boil. And, it’s too much of a problem to try and grapple with and solve. And, AI… That’s not necessarily the most effective, efficient way of bringing AI to bear onto a problem. Where we have found the most success in most client situations, is when a client says, “I want to bring AI in. I want to start leveraging AI,” my biggest problem that I want to attack and solve for, let’s say, is managing receivables in my enterprise. It’s managing working capital. And within that, I actually struggle often with the way we send our bills out, the way we actually then work with our clients to make sure they pay on time, and all the administrative aspects of doing all of that. (06:16) And, I wish I could solve that because I really want to drive customer satisfaction much higher than it is today. I want to obviously bring my working capital down. I don’t want to use labor to do this because it’s too painful, and therefore I want to use a machine. And, I want to get better, and better, and cleverer at doing this. And by the way, in all of that, I want to win in the marketplace. So, it’s actually a lot about competitive advantage. It’s about outcomes, customer satisfaction, growth, and working capital in this example and more cash. (06:44) And, when the AI gets brought in to bear on a specific problem, we see the best answers emerge. When AI is coming into the company and it attempts to solve the whole company and, "Let's deal with AI in the company," it's a much, much different journey and often, people get disappointed. (08:41) So, the question could be the board, and the CEO, and the CXO team saying, “We want to use AI in the company. Let’s just bring AI into the company.” Well, after some time, they realized actually the better way to approach it is artificial narrow intelligence, ANI, which is when we narrow down the problem to the most valuable one we can solve, and really attack it with AI. And, that’s often called “artificial narrow intelligence.” We find those to be highly successful.
Views: 5263 CXOTALK
#170: Culture Change and Digital Transformation with Alex Osterwalder and Dave Gray Culture change is a key for any digital transformation initiative. The shift from one business to another is often accompanied by a need for people in the organization to adopt new processes, ways of working, and approaches to break down silos and relate differently to customers. Although culture change is critically important to transformation, it is difficult and time-consuming to achieve. In this episode of CXOTALK, we speak with two experts on the intersection of transformation, culture, and business models. Alex Osterwalder is an entrepreneur, speaker and business model innovator. He is co-founder of Strategyzer, a leading SaaS company that helps organizations develop new growth engines, better value propositions und powerful business models via online applications and facilitated online courses. In 2015 Alex won the strategy award by Thinkers50, called the “Oscars of Management Thinking” by the FT, and ranks #15 among the leading business thinkers of the world. In 2013 he won the inaugural Innovation Luminary Award by the European Union. Alex is lead author of Business Model Generation and Value Proposition Design, which sold over a million copies in 37 languages. USA Today named Business Model Generation among the 12 best business books of all times. The German edition was named Management Book of the Year 2011. Fast Company Magazine named it one of the Best Books for Business Owners in 2010. Dave Gray is the founder of XPLANE, a strategic design consultancy, and co-founder of Boardthing, a collaboration platform for distributed teams. He is a leader and manager with a background in design. He has worked with many of the world’s largest companies, as well as mid-sized businesses, startups, executives and individuals. His area of focus is the human side of change and innovation, specifically: How can you get people to adopt new ideas? How can you win their hearts and minds? How can you get people, including yourself, to change deeply embedded habits and behaviors? How can you transform a business strategy from a good idea to a living fact in the real world? Dave Gray is the author of two books on design, change and innovation: Gamestorming: A playbook for innovators, rule-breakers and changemakers; and The Connected Company. As an entrepreneur, a designer and as a leader, he has worked with startups and Fortune 100 companies, in just about every industry you can imagine, to help them use design to bring their strategies to life. In 1993 he founded XPLANE, a business design consultancy which has served more than 50 of the Fortune 500. In 2013 he co-founded Boardthing, a collaboration platform for distributed teams. For more information, see https://www.cxotalk.com/culture-change-digital-transformation-alex-osterwalder-dave-gray ------------------ Check out all the CXOTALK episodes: https://cxotalk.com/episodes ------------------ Follow us on Twitter: https://twitter.com/cxotalk ------------------
Views: 4262 CXOTALK
An experienced Silicon Valley veteran and social impact expert explains how to use lean startup techniques in non-profits. Approaches such as minimum viable products and iterative development can help social benefit organizations develop new business models and gain traction in the market with the greatest efficiency and lowest cost. This video is an excerpt from the complete CXOTalk conversation between Michael Krigsman and Ann Mei Chang. You can watch the entire video and read the transcript here: https://www.cxotalk.com/episode/empowering-social-impact-lean-principles Ann Mei Chang is a leading advocate for social innovation and author of LEAN IMPACT: How to Innovate for Radically Greater Social Good (Wiley, Nov. 6, 2018). As Chief Innovation Officer at USAID, she served as the first Executive Director of the U.S. Global Development Lab, engaging the best practices for accelerating impact and scale from Silicon Valley for the world's most intractable challenges. Previously, Ann Mei was the Chief Innovation Officer at Mercy Corps, and served the U.S. Department of State as Senior Advisor for Women and Technology in the Office of Global Women’s Issues. Prior to her pivot to the public sector, Ann Mei had more than 20 years’ experience as a technology executive at such leading companies as Google, Apple and Intuit, as well as a range of startups. As Senior Engineering Director at Google, she led worldwide engineering for mobile applications and services, delivering 20x growth to $1 billion in annual revenues in just three years.
Views: 7257 CXOTALK
What are business and digital transformation? Arthur Hu, CIO for Lenovo Group, speaks with CXOTalk about embedding technology in businesses, shadow IT, and managing the balance of high uncertainty and high likelihood of change. For more information and the complete transcript, see https://www.cxotalk.com/episode/business-transformation-cio-role As the Chief Information Officer for Lenovo Group, Hu is responsible for the overall delivery of information services, digital technology, and business transformation. He works with the business units to drive business model transformation for more competitive capabilities and oversees a portfolio of strategic initiatives to further strengthen IT management and business collaboration. Prior to joining Lenovo in 2009, Hu worked with McKinsey & Company, Amazon, and in software engineering at a variety of companies.
Views: 8500 CXOTALK
How can the government innovate at scale while remaining agile and cost-effective? CXOTalk host, Michael Krigsman, speaks with two prominent leaders to explore this important question. For more information and the complete transcript, see https://www.cxotalk.com/episode/innovation-us-government Mr. Jim Geurts was sworn in as Assistant Secretary of the Navy (USN) for Research, Development & Acquisition (ASN (RD&A)), following his confirmation by the Senate November 2017. As the Navy’s acquisition executive, Mr. Geurts has oversight of an annual budget in excess of $60 billion and is responsible for equipping and supporting the finest Sailors and Marines in the world with the best platforms, systems and technology as they operate around the globe in defense of the Nation. Mr. Geurts previously served as the Acquisition Executive, U.S.. Special Operations Command (USSOCOM), at MacDill Air Force Base (AFB), Florida, where he was responsible for all special operations forces acquisition, technology and logistics. In this position his innovative leadership and technological ingenuity provided rapid and affordable acquisition that positively impacted the USSOCOM acquisition work force and the special operations forces capability on the battlefield. These contributions were recognized by both private and public institutions during his tenure to include earning the Presidential Rank Award, USSOCOM Medal, William Perry Award and Federal Times Vanguard Award for Executive of the Year. Dr. David A. Bray was named one of the top "24 Americans Who Are Changing the World" under 40 by Business Insider in 2016. He was also named a Young Global Leader by the World Economic Forum for 2016-2021. He also accepted a role of Co-Chair for an IEEE Committee focused on Artificial Intelligence, automated systems, and innovative policies globally for 2016-2017 and has been serving as a Visiting Executive In-Residence at Harvard University since 2015. He has also been named a Marshall Memorial Fellow for 2017-2018 and will travel to Europe to discuss Trans-Atlantic issues of common concern including exponential technologies and the global future ahead. Since 2017, he serves as Executive Director for the People-Centered Internet coalition co-founded by Vint Cerf, focused on providing support and expertise for community-focused projects that measurably improve people's lives using the internet. He also provides strategy and advises start-ups espousing human-centric principles to technology-enabled decision making in complex environments. Watch this important talk show conversation on national security, defense acquisition, and innovation in technology.
Views: 6855 CXOTALK
The industrial internet of things (IIoT) is an important source of data for digital transformation. What is IIoT and how can we capture and use that data? Industry analyst and CXOTalk host, Michael Krigsman, speaks with Guido Jouret, the Chief Digital Officer of ABB about this topic. For more videos and the full transcript: https://www.cxotalk.com/episode/industrial-internet-things-digital-transformation Guido Jouret has been Chief Digital Officer of ABB since October 2016. Mr. Jouret served as Chief Technical Officer at Nokia Technologies since April 2015 until October 2016. Prior to that, he was Chief Technology Officer and General Manager of Cisco’s Emerging Technologies Group, a unit responsible for incubating new businesses. Under his leadership, the team created nine new start-ups, including those, which became Cisco’s TelePresence and Internet of Things groups. He has lived in 12 countries including France, Singapore and the United States. Additionally, he worked for Cisco as IT Director for the Europe, Middle East and Africa region and in the Internet Business Solutions Group. Jouret left Cisco in 2014 to join Envision Energy, where he led the software products business, including a platform for the emerging energy internet. Jouret has been Chief Technical Officer at Nokia Technologies since April 2015, and recently drove a major acquisition in the digital health sector. He obtained his PhD in Computer Science from the Imperial College of Science, Technology and Medicine in the UK in 1991, and has a bachelor’s degree in Electrical Engineering from Worcester Polytechnic Institute in the US.
Views: 10651 CXOTALK
Culture change is as much a part of digital transformation as technology itself. Nick Tzitzon, EVP of Marketing and Communications for SAP, speaks with CXOTalk about how marketing and communications are needed to reach both employees and customers. “It’s hard for people to trust their own instincts. It’s hard for people to really make an emotional connection with people as opposed to doing what they’re advised to do by all the influences around them. For more info, see https://www.cxotalk.com/video/culture-change-digital-transformation-marketing-communications That’s an ongoing battle. You never get over that,” Tzitzon says. “We always believe in putting the human connection first… The more you can share with people personally what makes you tick and what about that personal motivation connects to what the business is trying to do, that’s when progress gets made.” Tzitzon is Executive Vice President, Marketing and Communications, for business software market leader SAP. He leads the company’s 2,000 marketing, communications and CSR professionals in shaping the world’s 21st most valuable brand. He previously served as senior VP and COO at Bronner, a boutique management consultancy focused on helping public sector agencies to run better; as chief of staff in the Justice Department’s Office of Justice Programs; and as deputy director of state and local public relations under U.S. Health and Human Services Secretary Tommy G. Thompson; and in numerous positions in Massachusetts state government. He’s also an adjunct faculty member at DePaul University and a frequent on-air contributor to SiriusXM Satellite Radio, WGN and WLS in Chicago. This interview was recorded live at Amelia City in the AI Innovation Center of IPsoft in New York City.
Views: 8905 CXOTALK
After 125 years as an industrial company, General Electric is transforming into a digital industrial. Cate Gutowski, Vice President-Commercial & digitalTHREAD at GE Digital, tells CXOTalk about digital transformation for global salesforce and how working with Tact.ai on the GE Digital Assistant has enabled sellers to use IT to think, act, and work in a digital way. Read the complete transcript: https://www.cxotalk.com/video/digital-transformation-ge-global-salesforce-it “What we’ve loved about the GE Digital Assistant product that we built together is that it enables a seller to capture, either through text or through voice, what we call the golden five minutes after a sales meeting. What we find is that we’re getting more data entered into the CRM system,” Gutowski says. “That excites us because, as we get more data entered into the system, we’re also seeing better data quality. Once you get better data quality, you can start to share that with your supply chain function, your product management function, and your marketing function, all these functions in the company that want to help sellers win, but they just quite honestly don’t have good enough data.” Gutowski leads GE’s effort to transform how global sales force utilizes technology to drive customer success across all GE businesses. In this role, she guides teams that are innovating new technologies in artificial intelligence, machine learning and predictive analytics to drive productivity, and enhance the customer experience. She also leads GE’s global leadership through storytelling initiative, “If You Can See It, You Can Be It.”
Views: 6012 CXOTALK
#198: Digital Transformation and the CIO Business expectations of the Chief Information Officer role have changed dramatically, forcing CIOs to adapt and evolve. This episode explores what's happening with CIOs and offers practical advice to both the business side and to CIOs themselves. Our guest is author Martha Heller, who is president of Heller Search Associates. Before she established her career in executive search, Martha was Founder and Managing Director of IDG's CIO Executive Council, a professional organization for CIOs. During her seven-year tenure at CIO magazine (IDG), Martha developed leadership programs for CIOs and directed the CIO Best Practice Exchange, a members-only network of IT leaders from top-tier organizations. Martha wrote a weekly column on IT leadership and led a series of executive events on IT staffing, career development, and leadership. Before CIO, Martha was an editor at Rutgers University Press. Martha continues to engage with CIO audiences every day. She is author of The CIO Paradox: Battling the Contradictions of IT Leadership, and Be the Business: CIOs in the New Era of IT. Martha writes CIO.com’s Movers & Shakers blog, and her e-newsletter, The Heller Report: You and Your CIO Career, is read by thousands of IT professionals every week. For more information, see https://www.cxotalk.com/digital-transformation-cio ------------------ Check out all the CXOTALK episodes: https://cxotalk.com/episodes ------------------ Follow us on Twitter: https://twitter.com/cxotalk ------------------
Views: 1580 CXOTALK