Neil Sholay - Data Driven Business - #OracleCloudDay London
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Information is replacing technology as the most critical business asset. And so business leaders must make the data around and within their business ecosystem the centre of new planning, funding and revenue models.
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Neil Sholay - Data Driven Business - #OracleCloudDay London
- 1. D A T A D R I V E N Business Neil Sholay Vice President Digital Business
- 2. Our Three Digital Beliefs Still Hold True 1. Interactions between people, places and things creates value 2. Platforms & Eco-systems are the new plane of competition 3. Data is the foundation of Digital Business
- 3. Information is replacing technology as the most critical business asset. And so business leaders must make the data around and within their business ecosystem the centre of new planning, funding and revenue models. New wave, New focus:
- 4. Data Has Huge Emergent Potential It is often said that Data is the new oil, but is it really? Data makes more data Data can be consumed by multiple people, places and things at the same time Its value increases when combined (with other data)
- 5. And most of us donât understand its value. 84% of S&P 500âs market value is intangible assets 5% of organisations know the value of their data Less than Source: Ocean Tomo LLC, 2015 Intangible Asset Market Value Study; The Wall Street Journal
- 6. Brand Value (1960s) vs Data Value (2020) Coca-Colaâs brand value $58.5 Bn (+4% YoY) Revenues $21.9 Bn Ad Spend $4 Bn Source : Forbes
- 7. Some are born data driven We must move beyond HAVING data to BEING data driven
- 8. Data Is Already Driving Experience Beyond Digital Marketing
- 9. Characteristics of a Data Driven Business Drive âdata valueâ across connected ecosystems People and machines in partnership Learns and improves - continuously Uses data to create new business models Data has economic value
- 10. Introducing the Data Driven Airport âą Improving the Passenger Experience âą Measuring foot-fall, linger time and interest âą Context aware offers and day of travel communication
- 11. Predictive Based Maintenance Digital customer service and workforce solutions, which offer better service levels and staff experience Reduced employee absence by 55%
- 12. Two things you do with data. 1. Do things better 2. Decide things better
- 13. CAPTURE KEEP USE MANAGE ACQUIRE APPLY âą This is where most business are today âą Focus is upon Big Data / Data Lakes & Single View of customer âą Lots of Capture & Keep but limited Use âą Data Driven Business is more than Big Data
- 14. CAPTURE KEEP USE OWN BUY SHARE MANAGE ACQUIRE APPLY âą Majority of Businesses use only Owned data âą Combining 1st party data with 3rd party data, to create new products and services and experiences
- 15. Sharing data to discover new segments
- 17. A Partnership of Humans & Machines Smart People whoAdvise Smart Machines that Automate Smart Businesses that Anticipate
- 18. Where Is Your Business on This Continuum? A business that has data A business driven by data A business that Anticipates
- 19. Better Outcomes
- 20. Connecting the worldâs industrial assets: Digital Manufacturing ...taking in machine-grade data at scale, analyse it and act upon it to improve outcomes
- 21. Augmenting your Digital Platform With New Capabilities
- 22. Todayâs leading enterprises donât have data They are driven by data Toget ahead of that curve, we must all: âą Re-understand what our data means to us. âą Re-appraise how data can revitalise our strategy and operations. âą Model how to manage, acquire and apply our data effectively. âą And constantly improve. Because data never ends. Mapping a New Data Agenda
Hinweis der Redaktion
- Good morning, I have sat in many presentations over the past 2 years where some one on stage has said âthe world is changingâ........we all know that.....thatâs nothing new....what is interesting to me is how people are embracing this change to digitally transform. Today, I will share with you our view on why we think âdataâ is front and centre in your transformation journey.....and how you could use it fundamentally remain competitive in a world, which is fluid...ever changing....ever shifting ..........re-shaping and reforming products, services and experiences. Iâll share some interesting stories on companies showing us the way, and Iâll also discuss what you need to focus on to transition into becoming a Data Driven Business.
- For the last couple of years, I stood on this stage talking about digital disruption and the need to digitally transform.......the train has most definitely left the station on this one......and I also expect that the speed of change in your organisations is also accelerating. I also suggested that you build a digital platform, make new connections between âpeople, places and thingsâ within your eco-systems and leverage the âdataâ......this has not changed, but one of these has risen in importance.....DATA.....this is at the centre of everything....every click, swipe, sensor signal.....this is fuel that will allow you to spot new opportunities and efficiencies, and leverage them to the max. Market trends shift are like waves, they come at different paces, strengths and heights, and they can come at the same time or in rapid sequence, so you cannot ignore interactions and platforms, but you must focus on the data.... . Doug Laney from Gartner backs this up, by saying âinformation is replacing technology as the central and most critical asset to be managed by organisations. As a result, Business leaders must shift to using the value of information as a basis for new planning and funding modelsâ
- Market shifts are like waves, they come at different paces, strengths and heights, and they can come at the same time or in rapid sequence.
- Some organisations are born data driven and know itâs value....here are the usual suspects....Iâm going to pick out Netflix. Netflix capture a lot of information. They use this data to build a very rich profile of their users and personalise the experience. But they also pool the data from millions and millions of users and millions of hours worth of content viewed to determine where to invest for their own TV shows. For example it is now a well known fact that the hit TV show house of cards was purchased by Netflix because they had looked at their data and it showed virtually conclusively that it would be a hit with a significant segment of their viewers. And it was, House of cards is the most streamed piece of content in the US and 40 other countries This is why we are seeing company valuations now being based on digital and data assets. This goes beyond what most organizations currently do with data....most organisation have data but they are not data driven.
- Iâm already seeing some of our customers showing certain characteristics of a Data Driven BusinessâŠâŠas I travel and meet customers such as yourselves, I see a clear distinction between businesses that HAVE data and businesses that are DRIVEN by data. Here are a few of those characteristics, Iâm just going to pick out 3âŠ.. They drive âdata valueâ across connected ecosystems â everyone and everything are âalways onâ and a hyperconnected â the Data Driven Business never stops maximizing its connections by changing, reshaping, and reforming their rules of engagement with customers and employees. They use people to evaluate and recalibrate machines that use algorithms to automate mundane tasks and advise on high value engagements with customer and employees â in the future this partnership will become more common place in the work environment. They learn and continuously improve based on the âoutcomeâ of a decision and human behaviorâŠ.for example, if I receive an offer on a product, and I donât take up that offer, but I buy an alternative productâŠ..DDBâs learn from that ready for the next time.
- Manchester Airports Group or MAG is the largest UK-owned airport operator and over 48 million passengers move through its five airports each year. As MAG continues to add new routes and passengers, it has recognized that it must focus on improving the pre-flight and post-flight passenger experience Until recently MAG could identify less than 25% of the passengers who set foot on their airport premises, and MAG had no ability to communicate with those passengers once they were inside the terminal. MAG realised it was missing an opportunity to provide a world class customer experience. After working with Oracle, MAG chose to deploy the Oracle Mobile Cloud Service to provide location based services and mobile offers to its passengers in the airports through the MAG mobile app. Oracle Mobile Cloud Service can measure both passenger footfall and passenger linger time, also known as âdwell time.â Second, Oracle Mobile Cloud Service uses existing Oracle Marketing Cloud tools to deliver mobile offers and promotions that can be segmented by time of day, customer profile, customer footfall and desired retail target. Finally, Oracle Mobile Cloud Service provides push notification capabilities so that information, offers, and promotions are delivered to each targeted passengerâs mobile phone. For example a passenger stuck in a long queue at check-in or security can be sent a real-time notification to leave the queue and proceed through the fast track lane free of charge (if a valued, frequent traveler) or for a small fee. The end result is more informed and happier travelers, higher retail sales, improved operational efficiency, and increased in-terminal visibility
- Vinci is one of the leading construction and facilities companies; they design, finance, build and operate infrastructure and facilities (like airports, office towers, hospitals) that help improve daily life and mobility for all. Recently, Vinci set about to provider a range of Digital Customer Service & Workforce management solutions that would offer better services levels and overall staff experience for their tenants employees. Vinci wanted to provide their tenants with the ability for their employees to request maintenance of the building via a smartphone and tablets to reduce repair times and ensure faster resolution. One of the goals of this was to adapt the on-site workforce activities to respond to real demands, rather than scheduled task (ie: cleaning of spills, refills, repairs etc..) After noticing a high rate of sickness reporting in some of their properties used by their tenants, Vinci implement sensors to monitor air quality, temperature, humidity etcâŠas employees were going sick due to sitting under cold air con units and not being able to turn then down/up. The sensors deployed were âGreenMeâ Cubes (which you can see in the slide, they look like rubik cubes). The IoT solution used by Vinci allows predictive maintenance and also allows employees to register a broken unit via a portal. The result was a 55% reduction in absence due to climate improvement. Vinciâs Digital Customer Service & Workforce management solutions are built upon ; Oracle Service Cloud provides service request management through a responsive portal Oracle IoT Cloud Service analyzes sensors data in real-time and automatically creates service requests including contextual data Business Intelligence dashboards provide live insights to workforce on resources usages Potential Benefits More sales deals won customer by improving users satisfaction and KPI transparency Higher workforce efficiency
- Oracle data Cloud is the worlds largest data cloud with 5 Billion consumer profiles, 40,000 attributes and 1,500 Data partners By using your internal first party data in combination with external or 3rd party data, there is a huge opportunity for every company in the world to create new products and services across lines of business. But Oracle makes it possible for you to capitalise even further on the power of your first-party data by facilitating strategic partnerships with other brands complementary to your brand. Companies can now buy or share that other brand's first-party data -- creating second-party data. Companies that strategically partner create value in two ways: 1. Financially: monetizing data assets they already have. 2. Reciprocally: accessing valuable information from a partner that they wouldn't otherwise have. This trifecta of first-, second- and third-party data is the foundation of an data driven business -- conducted on a single Data Cloud platform
- Oracle data Cloud is the worlds largest data cloud with 5 Billion consumer profiles, 40,000 attributes and 1,500 Data partners By using your internal first party data in combination with external or 3rd party data, there is a huge opportunity for every company in the world to create new products and services across lines of business. But Oracle makes it possible for you to capitalise even further on the power of your first-party data by facilitating strategic partnerships with other brands complementary to your brand. Companies can now buy or share that other brand's first-party data -- creating second-party data. Companies that strategically partner create value in two ways: 1. Financially: monetizing data assets they already have. 2. Reciprocally: accessing valuable information from a partner that they wouldn't otherwise have. This trifecta of first-, second- and third-party data is the foundation of an data driven business -- conducted on a single Data Cloud platform
- But thatâs not to say incumbents canât learn new tricksâŠ..for example, Brita the water filter company wanted to refine itâs segmentation strategy to increase sales. To do this they combined their own data with data from a well known retailer. The retailer opened up their prized data on a very narrow set of customers who were buying baby products. Brita discovered that people use their water filters for making baby formula, this was a new target customer segment, which they could leverage, which they had not previously considered. So you can seeâŠ..large incumbent companies can adopt a mindset and approach to become more data driven
- Oracle data Cloud is the worlds largest data cloud wit 5 Billion consumer profiles, 40,000 attributes and 1,500 Data partners By using your internal first party data in combination with external or 3rd party data, there is a huge opportunity for every company in the world to create new products and services across lines of business. But Oracle makes it possible for you to capitalise even further on the power of your first-party data by facilitating strategic partnerships with other brands complementary to your brand. Companies can now buy or share that other brand's first-party data -- creating second-party data. Companies that strategically partner create value in two ways: 1. Financially: monetizing data assets they already have. 2. Reciprocally: accessing valuable information from a partner that they wouldn't otherwise have. This trifecta of first-, second- and third-party data is the foundation of an data driven business -- conducted on a single Data Cloud platform
- And by continuous learning you can optimise the âoutcomeâ for your customer and employees by automating the mundane, advising them when appropriate and allowing your business to anticipate what might happen in your market. But we need humans to exercise judgement over machines, we are uniquely positioned to know when to break, modify or create a new algorithm to deliver the best outcome - this is a partnership. Itâs all about achieving âBetter Outcomesâ and data is at the heart of that.
- Oracle data Cloud is the worlds largest data cloud with 5 Billion consumer profiles, 40,000 attributes and 1,500 Data partners By using your internal first party data in combination with external or 3rd party data, there is a huge opportunity for every company in the world to create new products and services across lines of business. But Oracle makes it possible for you to capitalise even further on the power of your first-party data by facilitating strategic partnerships with other brands complementary to your brand. Companies can now buy or share that other brand's first-party data -- creating second-party data. Companies that strategically partner create value in two ways: 1. Financially: monetizing data assets they already have. 2. Reciprocally: accessing valuable information from a partner that they wouldn't otherwise have. This trifecta of first-, second- and third-party data is the foundation of an data driven business -- conducted on a single Data Cloud platform
- To give you an example of this future state â how about thisâŠ. GE and Oracle partnering to deliver a platform for building applications that connect to industrial assetsâŠ..to ingest machine-grade data at scale, analyze it and act upon it to deliver optimized outcomes â in short this is about automatically using data to manage and optimize GE and non-GE assetsâ to drive new levels of efficiency in their operations. This initiative has all the characteristics described earlierâŠ. Data has an economic value Drive âdata valueâ across connected ecosystems People and machines in partnership Learn and improve - continuously Uses data to create new business models