Category Archives: Business/IT Collaboration
An increasing number of companies around the world moving to cloud-first or hybrid architectures for new systems to process their data for new analytics applications. In addition to adding new data source from SaaS (Software as a Service) applications to their data pipelines, they are hosting some or all of their data storage, processing and analytics in IaaS (Infrastructure as a Service) public hosted environments to augment on-premise systems. In order to enable our customers to take advantage of the benefits of IaaS options, Informatica is embracing this computing model.
As announced today, Informatica now fully supports running the traditionally on-premise Informatica PowerCenter, Big Data Edition (BDE), Data Quality and Data Exchange on Amazon Web Services (AWS) Elastic Compute (EC2). This provides customers with added flexibility, agility and time-to-production by enabling a new deployment option for running Informatica software.
Existing and new Informatica customers can now choose to develop and/or deploy data integration, quality and data exchange in AWS EC2 just as they would on on-premise servers. There is no need for any special licensing as Informatica’s standard product licensing now covers deployment on AWS EC2 on the same operating systems as on-premise. BDE on AWS EC2 supports the same versions of Cloudera and Hortonworks Hadoop that are supported on-premise.
Customers can install these Informatica products on AWS EC2 instances just as they would on servers running on an on-premise infrastructure. The same award winning Informatica Global Customer Service that thousands of Informatica customers use is now available on call and standing by to help with success on AWS EC2. Informatica Professional Services is also available to assist customers running these products on AWS EC2 as they are for on-premise system configurations.
Informatica customers can accelerate their time to production or experimentation with the added flexibility of installing Informatica products on AWS EC2 without having to wait for new servers to arrive. There is the flexibility to develop in the cloud and deploy production systems on-premise or develop on-premise and deploy production systems in AWS. Cloud-first companies can keep it all in the cloud by both developing and going into production on AWS EC2.
Customers can also benefit from the lower up-front costs, maintenance costs and pay-as-you-go infrastructure pricing of AWS. Instead of having to pay upfront for servers and managing them in an on-premise data center, customers can use virtual servers in AWS to run Informatica products on. Customers can use existing Informatica licenses or purchase them in the standard way from Informatica for use on top of AWS EC2.
Combined with the ease of use of Informatica Cloud, Informatica now offers customers looking for hybrid and cloud solutions even more options.
Read the press release including supporting quotes from AWS and Informatica customer ProQuest, here.
One of THE biggest challenges in companies today is complexity. To be more specific, unnecessary complexity resulting from silo behaviors and piece-meal point solutions. Businesses today are already extremely complex with the challenges of multiple products, multiple channels, global scale, higher customer expectations, and rapid and constant change, so we certainly don’t want to make the IT solutions more complex than they need to be. That said, I’m on the side of NO we don’t need a CSO as this blog recently surveyed its readers. We just need a business architecture practice that does what it’s supposed to. (more…)
Enterprise IT is in a state of constant evolution. As a result, business processes and technologies become increasingly more difficult to change and more costly to keep up-to-date. The solution to this predicament is an Enterprise Architecture (EA) process that can provide a framework for an optimized IT portfolio. IT Optimization strategy should be based on a comprehensive set of architectural principles which ensure consistency and make IT more responsive, efficient, and economical.
The rationalization, standardization, and consolidation process helps organizations understand their current EA maturity level and move forward on the appropriate roadmap. As they undertake the IT Optimization journey, the IT architecture matures through several stages, leveraging IT Optimization Architecture Principles to attain each level of maturity.
Level 1: The first step involves helping a company develop its architecture vision and operating model, with attention to cost, globalization, investiture, or whatever is driving the company strategically. Once that vision is in place, enterprise architects can guide the organization through an iterative process of rationalization, consolidation, and eventually shared-services and cloud computing.
Level 2: The rationalization exercise helps an organization identify what standards to move towards as they eliminate the complexities and silos they have built up over the years, along with the specific technologies that will help them get there.
Depending on the company, Rationalization could start with a technical discussion and be IT-driven; or it could start at a business level. For example, a company might have distributed operations across the globe and desire to consolidate and standardize its business processes. That could drive change in the IT portfolio. Or a company that has gone through mergers and acquisitions might have redundant business processes to rationalize.
Rationalizing involves understanding the current state of an organization’s IT portfolio and business processes, and then mapping business capabilities to IT capabilities. This is done by developing scoring criteria to analyze the current portfolio, and ultimately by deciding on the standards that will propel the organization forward. Standards are the outcome of a rationalization exercise.
Standardized technology represents the second level of EA maturity. Organizations at this level have evolved beyond isolated independent silos. They have well-defined corporate governance and procurement policies, which yields measurable cost savings through reduced software licenses and the elimination of redundant systems and skill sets.
Level 3: Consolidation entails reducing the footprint of your IT portfolio. That could involve consolidating the number of database servers, application servers and storage devices, consolidating redundant security platforms, or adopting virtualization, grid computing, and related consolidation initiatives.
Consolidation may be a by-product of another technology transformation, or it may be the driver of these transformations. But whatever motivates the change, the key is to be in alignment with the overall business strategy. Enterprise architects understand where the business is going so they can pick the appropriate consolidation strategy.
Level 4: One of the key outcomes of a rationalization and consolidation exercise is the creation of a strategic roadmap that continually keeps IT in line with where the business is going.
Having a roadmap is especially important when you move down the path to shared services and cloud computing. For a company that has a very complex IT infrastructure and application portfolio, having a strategic roadmap helps the organization to move forward incrementally, minimizing risk, and giving the IT department every opportunity to deliver value to the business.
In case you haven’t noticed, data integration is all the rage right now. Why? There are three major reasons for this trend that we’ll explore below, but a recent USA Today story focused on corporate data as a much more valuable asset than it was just a few years ago. Moreover, the sheer volume of data is exploding.
For instance, in a report published by research company IDC, they estimated that the total count of data created or replicated worldwide in 2012 would add up to 2.8 zettabytes (ZB). By 2020, IDC expects the annual data-creation total to reach 40 ZB, which would amount to a 50-fold increase from where things stood at the start of 2010.
But the growth of data is only a part of the story. Indeed, I see three things happening that drive interest in data integration.
First, the growth of cloud computing. The growth of data integration around the growth of cloud computing is logical, considering that we’re relocating data to public clouds, and that data must be synced with systems that remain on-premise.
The data integration providers, such as Informatica, have stepped up. They provide data integration technology that can span enterprises, managed service providers, and clouds that dealing with the special needs of cloud-based systems. Moreover, at the same time, data integration improves the ways we doing data governance, and data quality,
Second, the growth of big data. A recent IDC forecast shows that the big data technology and services market will grow at a 26.4% compound annual growth rate to $41.5 billion through 2018, or, about six times the growth rate of the overall information technology market. Additionally, by 2020, IDC believes that line of business buyers will help drive analytics beyond its historical sweet spot of relational to the double-digit growth rates of real-time intelligence and exploration/discovery of the unstructured worlds.
The world of big data razor blades around data integration. The more that enterprises rely on big data, and the more that data needs to move from place to place, the more a core data integration strategy and technology is needed. That means you can’t talk about big data without talking about big data integration.
Data integration technology providers have responded with technology that keeps up with the volume of data that moves from place to place. As linked to the growth of cloud computing above, providers also create technology with the understanding that data now moves within enterprises, between enterprises and clouds, and even from cloud to cloud. Finally, data integration providers know how to deal with both structured and unstructured data these days.
Third, better understanding around the value of information. Enterprise managers always knew their data was valuable, but perhaps they did not understand the true value that it can bring.
With the growth of big data, we now have access to information that helps us drive our business in the right directions. Predictive analytics, for instance, allows us to take years of historical data and determine patterns that allow us to predict the future. Mashing up our business data with external data sources makes our data even more valuable.
Of course, data integration drives much of this growth. Thus the refocus on data integration approaches and tech. There are years and years of evolution still ahead of us, and much to be learned from the data we maintain.
Last fall, at a large industry conference, I had the opportunity to conduct a series of discussions with industry leaders in a portable video studio set up in the middle of the conference floor. As part of our exercise, we had a visual artist do freeform storyboarding of the discussion on large swaths of five-foot by five-foot paper, which we then reviewed at the end of the session. For example, in a discussion of cloud computing, the artist drew a rendering of clouds, raining data on a landscape below, illustrated by sketches of office buildings. At a glance, one could get a good read of where the discussion went, and the points that were being made.
Data visualization is one of those up-and-coming areas that has just begin to breach the technology zone. There are some powerful front-end tools that help users to see, at a glance, trends and outliers through graphical representations – be they scattergrams, histograms or even 3D diagrams or something else eye-catching. The “Infographic” that has become so popular in recent years is an amalgamation of data visualization and storytelling. The bottom line is technology is making it possible to generate these representations almost instantly, enabling relatively quick understanding of what the data may be saying.
The power that data visualization is bringing organizations was recently explored by Benedict Carey in The New York Times, who discussed how data visualization is emerging as the natural solution to “big data overload.”
This is much more than a front-end technology fix, however. Rather, Carey cites a growing body of knowledge emphasizing the development of “perceptual learning,” in which people working with large data sets learn to “see” patterns and interesting variations in the information they are exploring. It’s almost a return of the “gut” feel for answers, but developed for the big data era.
As Carey explains it:
“Scientists working in a little-known branch of psychology called perceptual learning have shown that it is possible to fast-forward a person’s gut instincts both in physical fields, like flying an airplane, and more academic ones, like deciphering advanced chemical notation. The idea is to train specific visual skills, usually with computer-game-like modules that require split-second decisions. Over time, a person develops a ‘good eye’ for the material, and with it an ability to extract meaningful patterns instantaneously.”
Video games may be leading the way in this – Carey cites the work of Dr. Philip Kellman, who developed a video-game-like approach to training pilots to instantly “read” instrument panels as a whole, versus pondering every gauge and dial. He reportedly was able to enable pilots to absorb within one hour what normally took 1,000 hours of training. Such perceptual-learning based training is now employed in medical schools to help prospective doctors become familiar with complicated procedures.
There are interesting applications for business, bringing together a range of talent to help decision-makers better understand the information they are looking at. In Carey’s article, an artist was brought into a medical research center to help scientists look at data in many different ways – to get out of their comfort zones. For businesses, it means getting away from staring at bars and graphs on their screens and perhaps turning data upside down or inside-out to get a different picture.
For those hoping to push through a hard-hitting analytics effort that will serve as a beacon of light within an otherwise calcified organization, there’s probably a lot of work cut out for you. Evolving into an organization that fully grasps the power and opportunities of data analytics requires cultural change, and this is a challenge organizations have only begin to grasp.
“Sitting down with pizza and coffee could get you around can get around most of the technical challenges,” explained Sam Ransbotham, Ph.D, associate professor Boston College, at a recent panel webcast hosted by MIT Sloan Management Review, “but the cultural problems are much larger.”
That’s one of the key takeaways from a the panel, in which Ransbotham was joined by Tuck Rickards, head of digital transformation practice at Russell Reynolds Associates, a digital recruiting firm, and Denis Arnaud, senior data scientist Amadeus Travel Intelligence. The panel, which examined the impact of corporate culture on data analytics, was led by Michael Fitzgerald, contributing editor at MIT Sloan Management Review.
The path to becoming an analytics-driven company is a journey that requires transformation across most or all departments, the panelists agreed. “It’s fundamentally different to be a data-driven decision company than kind of a gut-feel decision-making company,” said Rickards. “Acquiring this capability to do things differently usually requires a massive culture shift.”
That’s because the cultural aspects of the organization – “the values, the behaviors, the decision making norms and the outcomes go hand in hand with data analytics,” said Ransbotham. “It doesn’t do any good to have a whole bunch of data processes if your company doesn’t have the culture to act on them and do something with them.” Rickards adds that bringing this all together requires an agile, open source mindset, with frequent, open communication across the organization.
So how does one go about building and promoting a culture that is conducive to getting the maximum benefit from data analytics? The most important piece is being about people who ate aware and skilled in analytics – both from within the enterprise and from outside, the panelists urged. Ransbotham points out that it may seem daunting, but it’s not. “This is not some gee-whizz thing,” he said. “We have to get rid of this mindset that these things are impossible. Everybody who has figured it out has figured it out somehow. We’re a lot more able to pick up on these things that we think — the technology is getting easier, it doesn’t require quite as much as it used to.”
The key to evolving corporate culture to becoming more analytics-driven is to identify or recruit enlightened and skilled individuals who can provide the vision and build a collaborative environment. “The most challenging part is looking for someone who can see the business more broadly, and can interface with the various business functions –ideally, someone who can manage change and transformation throughout the organization,” Rickards said.
Arnaud described how his organization – an online travel service — went about building an espirit de corps between data analytics staff and business staff to ensure the success of their company’s analytics efforts. “Every month all the teams would do a hands-on workshop, together in some place in Europe [Amadeus is headquartered in Madrid, Spain].” For example, a workshop may focus on a market analysis for a specific customer, and the participants would explore the entire end-to-end process for working with the customer, “from the data collection all the way through to data acquisition through data crunching and so on. The one knowing the data analysis techniques would explain them, and the one knowing the business would explain that, and so on.” As a result of these monthly workshops, business and analytics teams members have found it “much easier to collaborate,” he added.
Web-oriented companies such as Amadeus – or Amazon and eBay for that matter — may be paving the way with analytics-driven operations, but companies in most other industries are not at this stage yet, both Rickards and Ransbotham point out. The more advanced web companies have built “an end-to-end supply chain, wrapped around customer interaction,” said Rickards. “If you think of most traditional businesses, financial services or automotive or healthcare are a million miles away from that. It starts with having analytic capabilities, but it’s a real journey to take that capability across the company.”
The analytics-driven business of the near future – regardless of industry – will likely to be staffed with roles not seen as of yet today. “If you are looking to re-architect the business, you may be imagining roles that you don’t have in the company today,” said Rickards. Along with the need for chief analytics officers, data scientists, and data analysts, there will be many new roles created. “If you are on the analytics side of this, you can be in an analytics group or a marketing group, with more of a CRM or customer insights title. Yu can be in a planning or business functions. In a similar way on the technology side, there are people very focused on architecture and security.”
Ultimately, the demand will be for leaders and professionals who understand both the business and technology sides of the opportunity, Rickards continued. Ultimately, he added, “you can have good people building a platform, and you can have good data scientists. But you better have someone on the top of that organization knowing the business purpose.’
This article was originally posted on Argyle CMO Journal and is re-posted here with permission.
According to a new global study from SDL, 90% of consumers expect a consistent customer experience across channels and devices when they interact with brands. However, according to these survey results, Gartner Survey Finds Importance of Customer Experience on the Rise — Marketing is on the Hook, fewer than half of the companies surveyed rank their customer experience as exceptional today. The good news is that two-thirds expect it to be exceptional in two years. In fact, 89% plan to compete primarily on the basis of the customer experience by 2016.
So, what role do CMOs play in delivering omnichannel customer experiences?
According to a recent report, Gartner’s Executive Summary for Leadership Accountability and Credibility within the C-Suite, a high percentage of CEOs expect CMOs to lead the integrated cross-functional customer experience. Also, customer experience is one of the top three areas of investment for CMOs in the next two years.
I had the pleasure of participating on a panel discussion at the Argyle CMO Forum in Dallas a few months ago. It focused on the emergence of omnichannel and the need to deliver seamless, integrated and consistent customer experiences across channels.
Lisa Zoellner, Chief Marketing Officer of Golfsmith International, was the dynamic moderator, kept the conversation lively, and the audience engaged. I was a panelist alongside:
- Chris Brogan, Senior Vice President, Strategy & Analysis,Hyatt Hotels & Resorts
• Chris Berg, Vice President, Store Operations, The Home Depot
• Chip Burgard, Senior Vice President, Marketing, CitiMortgage
Below are some highlights from the panel.
Lisa Zoellner, CMO, Golfsmith International opened the panel with a statistic. “Fifty-five percent of marketers surveyed feel they are playing catch up to customer expectations. But in that gap is a big opportunity.”
What is your definition of omnichannel?
There was consensus among the group that omnichannel is about seeing your business through the eyes of your customer and delivering seamless, integrated and consistent customer experiences across channels.
Customers don’t think in terms of channels and touch points; they just expect seamless, integrated and consistent customer experiences. It’s one brand to the customer. But there is a gap between customer expectations and what most businesses can deliver today.
In fact, executives at most organizations I’ve spoken with, including the panelists, believe they are in the very beginning stages of their journey towards delivering omnichannel customer experiences. The majority are still struggling to get a single view of customers, products and inventory across channels.
“Customers don’t think in terms of channels and touch points; they just expect seamless, integrated and consistent customer experiences.”
What are some of the core challenges standing in your way?
A key takeaway was that omnichannel requires organizations to fundamentally change how they do business. In particular, it requires changing existing business practices and processes. It cannot be done without cross-functional collaboration.
I think Chris Berg, VP, Store Operations at The Home Depot said it well, “One of the core challenges is the annual capital allocation cycle, which makes it difficult for organizations to be nimble. Most companies set strategies and commitments 12-24 months out and approach these strategies in silos. Marketing, operations, and merchandising teams typically ask for capital separately. Rarely does this process start with asking the question, ‘What is the core strategy we want to align ourselves around over the next 24 months?’ If you begin there and make a single capital allocation request to pursue that strategy, you remove one of the largest obstacles standing in the way.”
Chip Burgard, Senior Vice President of Marketing at CitiMortgage focused on two big barriers. “The first one is a systems barrier. I know a lot of companies struggle with this problem. We’re operating with a channel-centric rather than a customer-centric view. Now that we need to deliver omnichannel customer experiences, we realize we’re not as customer-centric as we thought we were. We need to understand what products our customers have across lines-of-business such as, credit cards, banking, investments and mortgage. But, our systems weren’t providing a total customer relationship view across products and channels. Now, we’re making progress on that. The second barrier is compensation. We have a commission-based sales force. How do you compensate the loan officers if a customer starts the transaction with the call center but completes it in the branch? That’s another issue we’re working on.”
Lisa Zoellner, CMO at Golfsmith International added, “I agree that compensation is a big barrier. Companies need to rethink their compensation plans. The sticky question is ‘Who gets credit for the sale?’ It’s easy to say that you’re channel-agnostic, but when someone’s paycheck is tied to the performance of a particular channel, it makes it difficult to drive that type of culture change.”
“We have a complicated business. More than 500 Hyatt hotels and resorts span multiple brands and regions,” said Chris Brogan, SVP of Strategy and Analytics at Hyatt Hotels & Resorts. “But, customers want a seamless experience no matter where they travel. They expect that the preference they shared during their Hyatt stay at a hotel in Singapore is understood by the person working at the next hotel in Dallas. So, we’re bridging those traditional silos all the way down to the hotel. A guest doesn’t care if the person they’re interacting with is from the building engineering department, from the food and beverage department, or the rooms department. It’s all part of the same customer experience. So we’re looking at how we share the information that’s important to guests to keep the customer the focus of our operations.”
“We’re working together collectively to meet our customers’ needs across the channels they are using to engage with us.”
How are companies powering great customer experiences with great customer data?
Chris Brogan, SVP of Strategy and Analytics at Hyatt Hotels & Resorts, said, “We’re going through a transformation to unleash our colleagues to deliver great customer experiences at every stage of the guest journey. Our competitive differentiation comes from knowing our customers better than our competitors. We manage our customer data like a strategic asset so we can use that information to serve customers better and build loyalty for our brand.”
Hyatt connects the fragmented customer data from numerous applications including sales, marketing, ecommerce, customer service and finance. They bring the core customer profiles together into a single, trusted location, where they are continually managed. Now their customer profiles are clean, de-duplicated, enriched, and validated. They can see the members of a household as well as the connections between corporate hierarchies. Business and analytics applications are fueled with this clean, consistent and connected information so customer-facing teams can do their jobs more effectively and hotel teams can extend simple, meaningful gestures that drive guest loyalty.
When he first joined Hyatt, Chris did a search for his name in the central customer database and found 13 different versions of himself. This included the single Chris Brogan who lived across the street from Wrigley Field with his buddies in his 20s and the Chris Brogan who lives in the suburbs with his wife and two children. “I can guarantee those two guys want something very different from a hotel stay. Mostly just sleep now,” he joked. Those guest profiles have now been successfully consolidated.
This solid customer data foundation means Hyatt colleagues can more easily personalize a guest’s experience. For example, colleagues at the front desk are now able to use the limited check-in time to congratulate a new Diamond member on just achieving the highest loyalty program tier or offer a better room to those guests most likely to take them up on the offer and appreciate it.
According to Chris, “Successful marketing, sales and customer experience initiatives need to be built on a solid customer data foundation. It’s much harder to execute effectively and continually improve if your customer data is not in order.”
How are you shifting from channel-centric to customer-centric?
Chip Burgard, SVP of Marketing at CitiMortgage answered, “In the beginning of our omnichannel journey, we were trying to allow customer choice through multi-channel. Our whole organization was designed around people managing different channels. But, we quickly realized that allowing separate experiences that a customer can choose from is not being customer-centric.
Now we have new sales leadership that understands the importance of delivering seamless, integrated and consistent customer experiences across channels. And they are changing incentives to drive that customer-centric behavior. We’re no longer holding people accountable specifically for activity in their channels. We’re working together collectively to meet our customers’ needs across the channels they are using to engage with us.”
Chris Berg, VP of Store Operations at The Home Depot, explained, “For us, it’s about transitioning from a store-centric to customer-centric approach. It’s a cultural change. The managers of our 2,000 stores have traditionally been compensated based on their own store’s performance. But we are one brand. For example in the future, a store may be fulfilling an order, however because of the geography of where the order originated they may not receive credit for the sale. We’re in the process of working through how to better reward that collaboration. Also, we’re making investments in our systems so they support an omnichannel, or what we call interconnected, business. We have 40,000 products in store and over 1,000,000 products online. Now that we’re on the interconnected journey, we’re rethinking how we manage our product information so we can better manage inventory across channels more effectively and efficiently.”
Omnichannel is all about shifting from channel-centric to customer-centric – much more customer-centric than you are today. Knowing who your customers are and having a view of products and inventory across channels are the basic requirements to delivering exceptional customer experiences across channels and touch points.
This is not a project. A business transformation is required to empower people to deliver omnichannel customer experiences. The executive team needs to drive it and align compensation and incentives around it. A collaborative cross-functional approach is needed to achieve it.
Omnichannel depends on customer-facing teams such as marketing, sales and call centers to have access to a total customer relationship view based on clean, consistent and connected customer, product and inventory information. This is the basic foundation needed to deliver seamless, integrated and consistent customer experiences across channels and touch points and improve their effectiveness.
This is an age of technology disruption and digitization. Winners will be those organizations that can adapt quickly and drive business transformation on an ongoing basis.
When I first met John Schmidt Vice President of Global Integration Services at Informatica, he asked me to visualize Business Transformation as “A modern tool like the internet and Google Maps, with which planning a road trip from New York to San Francisco with a number of stops along the way to visit friends or see some sights takes just minutes. So you’re halfway through the trip and a friend calls to say he has suddenly been called out of town, you get on your mobile phone and within a few minutes, you have a new roadmap and a new plan.”
So, why is it that creating a roadmap for an enterprise initiative takes months or even years, and upon development of such a plan, it is nearly impossible to change even when new information or external events invalidate the plan? A single transformation is useful, but what you really want is the ability to transform our business on an ongoing basis. You need to be agile in planning of the transformation initiative itself. Is it even feasible to achieve a planning capability for complex enterprise initiatives that could approach the speed and agility of cross-country road-trip planning?
The short answer is YES; you can get much faster if you do three things:
First, throw out old notions of how planning in complex corporate environments is done, while keeping in mind that planning an enterprise transformation is fundamentally different than planning a focused departmental initiative.
Second, invest in tools equivalent to Google Maps for building the enterprise roadmap. Google Maps works because it leverages a database of information about roads, rules of the roads, related local services, and points of interest. In short, Google Map the enterprise, which is not as onerous as it sounds.
Third, develop a team of Enterprise Architects and planners with the skills and discipline to use the BOST™ Framework to maintain the underlying reference data about the business, its operations, the systems that support it, and the technologies that they are based on. This will provide the execution framework for your organization to deliver the data to fuel your business initiatives and digital strategy.
The results in a closer alignment of your business and IT organizations, there will be fewer errors due to communication issues, and because your business plans are linked directly to the underlying technical implementation, your business value will be delivered quicker.
This is not some “pie in the sky” theory or a futuristic dream. What you need is a tool like Google Maps for Business Transformation. The tool is the BOST™ Toolkit leverages the BOST™ Framework, which through models, elements, and associated relationships built around an underlying Metamodel, interprets enterprise processes using a 4-dimensional view driven by business, operations, systems, and technology. Informatica in collaboration with certified partners built The BOST™ Framework. It provides an Architecture-led Planning approach to for business transformation.
Benefits of Architecture-led Planning
The Architecture-led Planning approach is effective when applied with governance and oversight. The following four features describe the benefits:
Enablement of Business and IT Collaboration – Uses a common reference model to facilitate cross-functional business alignment, as well as alignment between business and IT. The model gets everyone on the same page, regardless of line of business, location, or IT function. This model explicitly and dynamically starts with business strategy and links from there to the technical implementation.
Data-driven Planning – Being able to capture data in a structured repository helps with rapid planning. A data-driven plan makes it dynamic and adaptable to changing circumstances. When the plan changes, rather than updating dozens of documents, simply apply the change to the relevant components in the enterprise model repository and all business and technical model views that reference that component update automatically.
Cross-Functional Decision Making – Cross-functional decision-making is facilitated in several ways. First, by showing interdependencies between functions, business operations, and systems, the holistic view helps each department or team to understand the big-picture and its role in the overall process. Second, the future state architectural models are based on a view of how business operations will change. This provides the foundation to determine the business value of the initiative, measure your progress, and ultimately report the achievement of the goals. Quantifiable metrics help decision makers look beyond the subjective perspectives and agree on fact-based success metrics.
Reduced Execution Risk – Reduced execution risk results from having a robust and holistic plan based on a rigorous analysis of all the dependent enterprise components in the business, operations, systems and technology view. Risk is reduced with an effective governance discipline both from a program management as well as from an architectural change perspective.
Business Transformation with Informatica
Integrated Program Planning is for organizations that need large or complex Change Management assistance. Examples of candidates for Integrated Program Planning include:
Enterprise Initiatives: Large-scale mergers or acquisitions, switching from a product-centric operating model to more customer-centric operations, restructuring channel or supplier relationships, rationalizing the company’s product or service portfolio, or streamlining end-to-end processes such as order-to-cash, procure-to-pay, hire-to-retire or customer on-boarding.
Top-level Directives: Examples include board-mandated data governance, regulatory compliance initiatives that have broad organizational impacts such as data privacy or security, or risk management initiatives.
Expanding Departmental Solutions into Enterprise Solutions: Successful solutions in specific business areas can often be scaled-up to become cross-functional enterprise-wide initiatives. For example, expanding a successful customer master data initiative in marketing to an enterprise-wide Customer Information Management solution used by sales, product development, and customer service for an Omni-channel customer experience.
|The BOST™ Framework identifies and defines enterprise capabilities. These capabilities are modularized as reconfigurable and scalable business services. These enterprise capabilities are independent of organizational silos and politics, which provide strategists, architects, and planners the means to drive for high performance across the enterprise, regardless of the shifting set of strategic business drivers.The BOST™ Toolkit facilitates building and implementing new or improved capabilities, adjusting business volumes, and integrating with new partners or acquisitions through common views of these building blocks and through reusing solution components. In other words, Better, Faster, Cheaper projects.
The BOST™ View creates a visual understanding of the relationship between business functions, data, and systems. It helps with the identification of relevant operational capabilities and underlying support systems that need to change in order to achieve the organization’s strategic objectives. The result will be a more flexible business process with greater visibility and the ability to adjust to change without error.
The problem many banks encounter today is that they have vast sums of investment tied up in old ways of doing things. Historically, customers chose a bank and remained ’loyal’ throughout their lifetime…now competition is rife and loyalty is becoming a thing of a past. In order to stay ahead of the competition, gain and keep customers, they need to understand the ever-evolving market, disrupt norms and continue to delight customers. The tradition of staying with one bank due to family convention or from ease has now been replaced with a more informed customer who understands the variety of choice at their fingertips.
Challenger Banks don’t build on ideas of tradition and legacy and see how they can make adjustments to them. They embrace change. Longer-established banks can’t afford to do nothing, and assume their size and stature will attract customers.
Here’s some useful information
Accenture’s recent report, The Bank of Things, succinctly explains what ‘Customer 3.0’ is all about. The connected customer isn’t necessarily younger. It’s everybody. Banks can get to know their customers better by making better use of information. It all depends on using intelligent data rather than all data. Interrogating the wrong data can be time-consuming, costly and results in little actionable information.
When an organisation sets out with the intention of knowing its customers, then it can calibrate its data according with where the gold nuggets – the real business insights – come from. What do people do most? Where do they go most? Now that they’re using branches and phone banking less and less – what do they look for in a mobile app?
Customer 3.0 wants to know what the bank can offer them all-the-time, on the move, on their own device. They want offers designed for their lifestyle. Correctly deciphered data can drive the level of customer segmentation that empowers such marketing initiatives. This means an organisation has to have the ability and the agility to move with its customers. It’s a journey that never ends -technology will never have a cut-off point just like customer expectations will never stop evolving.
It’s time for banks to re-shape banking
Informatica have been working with major retail banks globally to redefine banking excellence and realign operations to deliver it. We always start by asking our customers the revealing question “Have you looked at the art of the possible to future-proof your business over the next five to ten years and beyond?” This is where the discussion begins to explore really interesting notions about unlocking potential. No bank can afford to ignore them.