{"id":15490,"date":"2015-09-09T00:00:00","date_gmt":"2015-09-08T23:00:00","guid":{"rendered":"https:\/\/members.dataiq.global\/articles\/201509profiting-complete-view\/"},"modified":"2024-05-29T13:31:44","modified_gmt":"2024-05-29T12:31:44","slug":"201509profiting-complete-view","status":"publish","type":"article","link":"https:\/\/www.dataiq.global\/devstage\/articles\/201509profiting-complete-view\/","title":{"rendered":"Profiting from the complete view"},"content":{"rendered":"

\"\"Business strategies increasingly include data and analytics, but do they consider how to deliver that vision? At the DataIQ Summit, both dimensions of transformation were presented to give a rounded understanding of how to change up. <\/em><\/strong><\/p>\n

Change may be a constant in the business world, but it plays havoc with data models and technology infrastructures. So getting the vision right makes a difference because it can avoid being sidetracked by downstream problems. Equally, delivering against that vision is easier if it is aligned to clear business goals that sustain executive support and funding.\"\"<\/p>\n

Which is why the two-day DataIQ Summit 2015, which took place on 16th and 17th June, offered an insight into the strategic goals being pursued by companies on Day One, with a focus on how those get delivered on Day Two. With a heavyweight line-up of keynote speakers, the unique format of 360-degree sessions by speakers from the same company addressing both issues on subsequent days proved highly successful (see box copy on News UK, Telegraph Media Group and British Gas).<\/p>\n

For Moneysupermarket.com, the issue has been how to ensure data is aggregated from multiple online brands offering 50 to 60 products each to ensure a positive experience for the customer. \u201cWe have a three-year programme to rebuild our technology stack and create an enterprise data warehouse which is about delivering a tailored experience to individuals on each website,\u201d explained Brian Price, group head of data engineering.<\/p>\n

With the migration of many critical services online, an emerging challenge is identity verification. One of the outstanding presentations at the Summit came from David Rennie, head of industry engagement for the Cabinet Office\u2019s Gov.UK Verify service, given in the Callcredit Information Group headline sponsor slot on Day One.<\/p>\n

\u201cThe importance of identity and trust is a central concern in the digital market,\u201d he said. \u201cOrganisations need to collaborate to solve the challenges because the digital environment is not yet fully trusted. Identity is fundamental to society.\u201d Rennie explained how the new identity verification service will provide one-stop access to Government services and may also become a core provision within online transactions.<\/p>\n

Identity at a personal level is built on facets of personality which Sandra Matz, psychometrician at University of Cambridge Psychometrics Centre, explained can be derived from data and used to serve personalised content and services. \u201cThe algorithm understands your customer, even if you don\u2019t,\u201d she said.<\/p>\n

Many of those personalised messages are now delivered via the marketing automation eco-system offered by Adobe. On Day Two, director of demand marketing EMEA, Simon Morris, described the success which the company had enjoyed using its own tools to promote its solutions, as well as looking at why marketers need to improve their performance and metrics. \u201cEighty per cent of CEOs do not trust marketers,\u201d he reported.<\/p>\n

Simon Kaffel, head of information management at Telef\u00f3nica O2 UK, underlined the problem. \u201cThe CFO\u2019s perspective is numbers – they have no insight into the processes and how the business works. Technology is often seen as the solution, rather than how to improve processes and get business functions, like marketing, to perform better by using data and analytics. The challenge for us is how to sell that to the C-suite,\u201d said Kaffel.<\/p>\n

At BMJ, the decision has already been made to transform processes as the business evolves from being the fourth most-cited general medical journal in the world into a provider of digital information and services. As David Hutcheson, marketing analysis and reporting manager, said: \u201cData is seen as a key enabler for transformation and the business plan through to 2017. The CEO has mandated that we become a user-focused organisation, rather than product focused.\u201d<\/p>\n

If delivering against these visions can look challenging, imagine you work in an industry that hasn\u2019t made a profit in 20 years. That is where car insurance finds itself, according to David Watkins, chief data officer at RSA. \u201cAdding credit scoring to prospect profiling can make the difference between profit and loss. That is the impact which data makes and is why some companies in the industry regularly make a profit,\u201d he said.<\/p>\n

That is clear proof that embedding data and analytics in a business makes strategic sense and that practical solutions are available to make that happen. Bringing together both of these views across the DataIQ Summit 2015 gave delegates plenty to think about and action points to take back to their own companies.<\/p>\n