IBM World of Watson presentation: Monetizing Data in the Age of Customer

For CIOs: The Information Age Meets the Age of the CustomerSession: ALB-4037

Michelle WycoffOctober 25, 2016

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Age of the Customer

10/28/16World of Watson 2016

SOURCES:

Forrester, “Leadership In The Age Of The Customer Customer - Obsessed Leaders Do Five Things Right” by James L. McQuivey, April 26, 2016

Customer experience is the frontline in the battle to give customers more.

e.g. Delta Airlines, Charles Schwab

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Digital disruption enables companies to keep pace with customers.

e.g. Uber, Tesla

Customers are hyper- adopting new experiences and their willingness to try new things is accelerating.

e.g. Slack, Snapchat

SOURCES:

Forrester, “Leadership In The Age Of The Customer Customer - Obsessed Leaders Do Five Things Right” by James L. McQuivey, April 26, 2016


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Cognitive business:Create knowledge from data to outthink the needs of the marketplace by bringing digital intelligence to a digital business.


Key technologies that deliver change

10/28/16World of Watson 2016 5

SOURCES:

Gartner, “The 2017 CIO Agenda,” by Andy Rowsell-Jones, October, 2016

What’s holding us back?

6 10/28/16World of Watson 2016

62% 57% 55%

54%54%Cost of technologies / solution development

Security concerns Immature technologies and tools for implementing

cognitive solutions

Data issues (i.e., quality of data, integrating and converting data,

volume of data)

Insufficient skills

Top five challenges in adopting cognitive computing

SOURCES:

IBM, “The cognitive advantage”, October, 2016: http://www.ibm.com/cognitive/advantage-reports/

http://www.ibm.com/cognitive/advantage-reports/


60% say cognitive computing is essential to tackling data

challenges that conventional analytics cannot

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What will it take to differentiate?

53% say cognitive computing will unlock

the hidden value of their organization’s dark data


SOURCES:




Technology leaders serve as the primary advocates for cognitive initiatives

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Collaboration underpins cognitive initiatives Strongest advocates for cognitive initiatives

% citing as strong advocate

45%26%

29%45% IT and LoB

in collaboration

29% More LoB driven

26% More IT driven

43% Chief Information Officer (CIO)

43% Chief Technology Officer (CTO)

43% IT Management below C-level

27% Chief Data Officer (CDO)

25% LoB Management below C-level

23% CEO/President

16% Chief Marketing Officer (CMO)

SOURCES:




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“The next wave will be all aboutconnecting dots and correlatingdata to produce actionable insights.”

CIO, RetailUnited States


New approaches towards the application of data


Val

ue

Most are here

Efficiency Modernization Democratization Monetization

Operations Reporting &Data

Warehousing

Self-Service Analytics

New Business Models

Uses of Data

A transformative journey to greater digital intelligence

Positioning for Revenue Growth


Shifts are defining new expectations.– Improve and accelerate market access– Collaborate for value

Build around customer experiences and services.– Create knowledge from data

– Bring new levels of intelligence and value to your organization

Take data seriously. – Address shifts in consumption

behaviors with new business models– Differentiate with digital intelligence

Monetizing Data: How CIOs are putting data and analytics to work

Mandalay BayLas VegasOctober 24-27

Michelle WycoffIBM Global CIO LeadMarket Insights @michellewycoff

The Information Age Meets the Age of the CustomerSession: ALB-4037

Thank You