5 Ways to Start Your Data Governance Framework Right

| |

Chief Data Officer at UNSW, Kate Carruthers, shares her top tips ‪for getting started with data and information governance‬.‬

Corinium: We are looking forward to hearing from you at the CDAO Sydney event speaking on your data governance journey at UNSW. Establishing a data governance framework is inevitably challenging, what are the key cornerstones to consider of any successful data governance framework?

Kate Carruthers: Clarify your mandate. Get your policies and procedures sorted out early. An official policy clarifies your mandate for running the data governance program and can assist in obtaining buy-in.  My starting point was a definition:

“Data governance is the organisation and implementation of policies, procedures, structure, roles, and responsibilities which outline and enforce rules of engagement, decision rights, and accountabilities for the effective management of information assets.”

Source: John Ladley, Data Governance: How to Design, Deploy and Sustain an Effective Data Governance Program, 2012

Setup an effective governance structure. This seems like an obvious thing, but many organisations struggle with this. Getting the right structure setup and the right people involved is critical to success. I have setup a Data Governance Steering Committee (DGSC), which has oversight of the entire program, with cross-organisational executive involvement, and it has been very important in obtaining credibility. The DGSC is supported by another Committee, which takes a more hands-on day to day role in deciding how we manage data across the organisation. We also work closely with IT, Privacy, Procurement, and Legal to ensure that they are involved in the data governance program.

Data governance is the organisation and implementation of policies, procedures, structure, roles, and responsibilities which outline and enforce rules of engagement, decision rights, and accountabilities for the effective management of information assets.

Make a start. Typically, in a large organisation, it can be daunting to consider data governance and to know where to start. Find an area of the organisation that has some willing people and just get started. This lets you demonstrate success and leverage that success to get the next area of the organisation involved.

Take inspiration from other organisations. Don’t feel the need to invent data governance from scratch. Talk to other practitioners – they’re usually delighted to find a fellow traveler. Find groups where data and information governance folks hang out, like The Data Governance Institute: The DGI, Information Governance ANZ or the Data Management Association Australia (DAMA). The kind folks at DG @ Stanford University were particularly helpful to me in the early days.

Ignore the vendors. There are a plethora of vendors who say they have solutions for data governance. Ignore them. It is not about the tools, it is about practice and culture.

Corinium: You’ve once said that when it comes to building a culture for data governance, “work with the willing and win hearts.” What are your top tips for achieving a truly data-driven culture?

Kate Carruthers: We are still very early on in the journey towards a data-driven culture at UNSW. However, a combination of a good policy and standards framework, together with the right tools to enable people to understand and manage their data are key foundations.

Corinium: Tell us your view on data ownership. Do you agree that territorial stance on data ownership is one of the greatest challenges in establishing the CDO role?

Kate Carruthers: Not at all. The Chief Data Officer role at UNSW is part of the business and I’m here to help data owners across the organisation to truly own and understand their data.  Another key relationship is with IT, and I work very closely with them to ensure that we build effective governance for the business.

Corinium: What do you see as the key benefits to an organisation in having a CDO role?

Kate Carruthers:
Increasingly, data is seen as a critical corporate asset that needs to be managed effectively. Having someone who is responsible for facilitating discussions about how the organisation determines its use of new, existing, and legacy information assets is critical. Additionally, CDOs can lead the debate on digital ethics, privacy and other regulatory issues relating to data.

Corinium: What do you believe are the top 3 qualities needed to be a successful CDO?

Kate Carruthers: Solid understanding of the business, ability to listen to and understand the needs of business and IT colleagues, and an understanding of data and related technologies.

Corinium: What are your key priorities for investment in the next year?

Kate Carruthers: At UNSW, we’re all about delivering on the UNSW 2025 Strategy and there are huge array of projects kicking off. In the business-as-usual space however, I am particularly concerned with the Data & Information Governance program and implementing the Cybersecurity Program, including rollout of the Information Security Management System and the Data Classification process. These are the key foundations for our strategic data initiatives. We are also looking at our next generation analytics to support the 2025 Strategy.

Corinium: What is the one advice you will give to a CDO who will be assuming the role for the very first time?

Kate Carruthers: Take your time to understand the context and getting to know the business priorities.

Corinium: What are the biggest trends you envisage dominating the data analytics space over the coming year?

Kate Carruthers: The legacy data warehouses will linger but Hadoop and predictive analytics will continue their growth. I’m expecting to see tools for managing realtime data streaming to go mainstream – we’ve already experimented with Amazon Kinesis during 2016. And of course, more cloud based offerings as vendors try to catch up.

To hear more from Kate, reserve your seat at the Chief Data and Analytics Officer, Sydney taking place on the 6-8 March, 2017.

For more information visit: www.chiefdataanalyticsofficersydney.com  

For updates on Data, Analytics, Customer, Digital Innovation, follow Corinium on Twitter @coriniumglobal and Instagram @coriniumglobal
Read More

Want an honest measure of your customer centricity? Try this.

| |

When asking the question to Senior Executives "How Customer-Centric is your company", there are typically two answers:

  1. We are very Customer-Centric
  2. We are way behind on this
The strange thing is that in both cases, many of them are wrong.

Those that think they are very Customer-Centric are regularly siloed, disconnected and slow but refer to their own personal approach as Customer-Centric. Those that think they are way behind are often ahead of the curve or at least, at par with their peers in the industry and just being hard on themselves or don't really have a benchmark to compare against. So given this, what are some simple ways to gauge Customer Centricity?

Benchmark against Competitors

It can be hard to get a hold of competitor information. Not impossible and easier than you might think if you really go looking, but, at best, you can just get a hold of their metrics and see how you compare. After all, who wants to tell their competitors what they are doing or working on?

Having said that, there are things that affect CX that you can have access to. Website responsiveness and UX, enquiry responsiveness, converted churn, third party research, social analytics, online reviews and personally buying their product, to name a few. These are things you can easily glean to form an intelligent opinion as to how you compare relative to your peers/industry.

Gather Feedback

For those who have driven their CX towards Data, you likely have a more realistic view of what is being achieved. In my opinion (see what I did there?), CX and Analytics must go hand in hand. Feedback and a simple measure like Net Promoter Score (NPS) should be part of what you are capturing.

Whilst NPS is only a part of what you should be capturing, it can give great insight into potential risks and opportunities.

Pay Attention to Social Media

A former colleague of mine, Alistair Clemett of The Customer Experience Company summarises this here better than I could. Depending on the type of business you are in, there is likely more insight to be gained from Social Media than surveys. Both have their faults but can be some of your most powerful ways to measure CX.

Measure Responsiveness

There are some major elements here for me, they are;

  • Website - Page load, forms, UX, etc.
  • Enquiry - When someone asks a question or registers to find information, how quickly do you respond? Think in seconds rather than the hours or days many companies think in.
  • Service Recovery - How simply and quickly do you solve your customer's problems?

Try this at home!

There are many more options, but these can be some of the simplest areas where you can get started. With or without these options, there is still one more thing you should be doing (and never stop doing) to get an honest, unfiltered measure of your customer centricity: Experience being a customer for yourself.

Look for information on your site, fill in forms, inquire, buy (if you can), speak to agents, use the product and generally see things from your customer’s perspective by being a customer. You will often find some of the simplest fixes this way.

If you really are curious you will find answers you otherwise wouldn't have.

For updates on Data, Analytics, Customer, Digital Innovation, follow Corinium on Twitter @coriniumglobal and Instagram @coriniumglobal

By Ben Shipley:

Ben Shipley is the Partnerships Director at Corinium Global Intelligence. You may reach him at ben.shipley@coriniumintelligence.com  Twitter: @benjaminshipley LinkedIn: https://au.linkedin.com/in/benjamindshipley 

Read More

Beyond Data: Transforming into an Analytical Organisation

| |

Editor's Note: In this blog, we curate relevant and  remarkable content for data and analytics community. Here's an interesting piece written by José Antonio Murillo Garza, which was originally published by Northwestern’s JIMC.  

Analytics within a traditional organisation often starts as a top management initiative aimed at increasing productivity. Implementation faces several challenges, and top management sponsorship could quickly fade away. Banorte, the largest Mexican financial group, is under way to successfully transform into an analytical organisation. This experience offers five lessons to start out such a transformation:

  1. Gain credibility by delivering short-term results that assure long-term sponsorship from top management.
  2. Set the right incentives for the organisation to embrace analytics, avoiding rivalry between analytics and the business lines.
  3. Do not take for granted that analytic projects are a priority for the whole organisation — hold the analytics group accountable for end-to-end implementation.
  4. The analytics team members beyond quantitative skills require the ability to build consensus across different stakeholders within the organisation.
  5. The contribution from analytic initiatives must be measured.
A traditional organisation that aims to become an analytical firm with the capacity to deepen and extend its relationship with its customers starts its journey with some leaders envisioning a future for the company. It is not uncommon to find contrasting visions within top management of what should be the future — some subscribe to the old Texas adage, “If it ain’t broke, don’t fix it.” This should not be a surprise since companies have limited resources, and there are competing projects that respond to existing customer demands. Hence, when the organisation embarks on the transformation path, it is clear that the analytical camp prevailed, but this does not mean that the traditional camp was convinced. Top management composition is not static, and suddenly the forward thinking camp that once prevailed to launch the transformational analytic initiative might be outnumbered. Assuring continuity requires the analytic team to gain credibility with both camps of the organisation. A high short-run ROI does the trick. Analytics in Banorte during its first year of operations contributed 10% of the group’s total net profit, gaining credibility and resources to advance with medium-term projects.
Business lines expect the quants to be a partner, not a lecturer.

A high yield from analytics is a necessary but insufficient condition. Analytics and the business lines must establish a partnership that will face some hurdles. Analytics will disrupt the way business has been conducted, and rivalry between groups might arise. Both groups speak different languages — one group has business experience while the other talks with statistics and models. The business lines have many concerns — devoting scarce resources to unproven projects, the credit they will get in case of success, or the blame they will share if failure occurs. These concerns must be addressed by the design of an incentive scheme that aligns the interests of analytics and the business lines. Banorte solved this problem by setting a shadow target for analytics that did not rival the business lines targets, but rather analytic projects helped business lines attain their targets.

Non-rivalry between groups does not guarantee that the business lines and other stakeholders will enthusiastically embrace analytic initiatives to change the way they have been working. Stakeholders within the organisation are unfamiliar with analytic initiatives, and they certainly have other projects top of mind. It is of an utmost priority for analytics to find partners willing to champion initiatives that can set an example to the rest of the organisation. Analytics will need to invest some of its top management sponsorship capital in assuring end-to-end implementation of the chosen projects. The transformational effort at Banorte initially focused on the credit card business because of the project’s value and the willingness from the business partners.

An analytics team obviously requires quantitative skills, and the organisation has to make a substantial investment in data and technology. However, these prerequisites are not enough to transform an institution. Banorte’s experience has shown that two soft skills are vital — the ability to build consensus and to have good team players who respect the business acumen of their counterparts. Business lines expect the quants to be a partner, not a lecturer.

Finally, rooting analytics within the organisation requires measurement. It is not uncommon for an organisation on its path to transformation to undertake several initiatives at the same time, and it may prove hard to disentangle the contribution. The analytics team should not assume that results are self-evident — a detailed report to the top management must be produced periodically. Furthermore, it is easy to stray from value by undertaking only the projects from willing partners. At Banorte, measurement has assured sponsorship and has kept analytics on track.


Hear more from José Antonio Murillo Garza and other distinguished speakers at the Chief Analytics Officer, Spring happening on May 2-5, 2017 in Scottsdale, Arizona. For more info, visit coriniumintelligence.com/chiefanalyticsofficerspring

By Dr. José A. Murillo Garza:

José Antonio Murillo Garza is the Chief Analytics Officer for Grupo Financiero Banorte S.A.B. de C.V. José also serves as general director of analysis at Banco Mercantil Del Norte, S.A. Prior to this, José was the director of price analysis for regional economies and information at Banco de México. He holds a degree and Doctorate in Economics from Rice University.
Read More

How the Evolution of Learning & Development Transformed the role of Chief Learning Officers (CLO)

| |

After months of research with over 50 Chief Learning Officers (CLOs) and de facto Learning & Development (L&D) executives in preparation for Corinium’s Chief Learning Officer Forum USA, I found that the fundamental principles of L&D have not changed substantially since their implementation nearly 20 years ago. However, these exceptional leaders are constantly looking at ways to innovate and keep ahead of the curve developing more creative, thorough and inclusive initiatives to fulfil those traditional ideas.

It is evident that corporations still seek to champion and support the professional development of their workforce in order to maintain their predominant position within a specific market. Nonetheless, highly competitive environments have propel substantial changes in the fundamental tasks that every CLO faces at any modern corporation. For instance, corporations now expect from these executives to: (1) effectively develop leadership programmes focussed on business delivery; (2) facilitate the transition from legacy methods to modern technologies to further promote employee capacitation/engagement/retention; and (3) overcome the generational gap issue when implementing new tools and L&D programmes.

Key Principles of Learning & Development 

In order to understand how these new challenges have transformed the CLO role, let us look at two main and contemporary principles of any L&D initiative: Diversity and Inclusion. Due to some old cultural traditions, a few of the old fashioned corporate values were determined by underlying notions of segregation and discrimination. These old social institutions, that shaped those L&D programmes in the past, have gradually given way to more contemporary ideas of “people’s development” and “workforce Inclusion”. The direct task of transforming those notions falls into the CLOs responsibility. These experts understand that there is a direct correlation between better professional performance and the implementation of programmes that recognise and promote diversity and inclusion.

Certainly, the key is understanding that diversity is not only a concept applicable to race and gender; it also encompasses age, sexual orientation, faith, social background, language, amongst many other things. Also that inclusion does not only refer to minorities and/or outsiders integrating with established social groups, but also to fundamental ideas of recognition and respect.

The key is understanding that diversity is not only a concept applicable to race and gender; it also encompasses age, sexual orientation, faith, social background, language, amongst many other things.

The importance of right technological solution

It should not be a surprise to discover that these corporations, who will join us next March in New York City, have embraced these two concepts thoroughly and have applied their principles as core values of their L&D programmes, promoted by the CLOs. The vast majority have publicly committed to improving the presence of minority groups within the leadership organisational structure; close the gender gap amongst the executive office and promote values of respecting difference amongst their local or international workforce. Similarly, they have acknowledged the vital role that generation exchange has to further endorse leadership initiatives and the importance of openly discussing topics related to race, gender, background, faith and others.

However, all these initiatives have been supported by the right technological solution to enable and grant access to these programmes to a wider audience. Whether it offers faster, easier and cheaper access to information or promotes more contemporary principles that aim to support the ideas of inclusion and diversity, it has crucially transformed the way that corporations interact with their employees.

Those L&D programmes that were once designed to target a select group of individuals, have now become accessible to anyone. The wider opportunity to access information everywhere and anytime has democratised the way people learn and develop their personal and professional hard and soft skills. Nowadays the capacitation, readiness and reskilling of personnel is carried out without segregation or segmentation, thanks to inclusive corporate policies that promote contemporary values of respect and social recognition and technological platforms that allow anyone to access L&D programmes anytime.

Clearly, neither of those initiatives or programmes could be considered perfect nor the answer to those demands raised by the global corporations. Nonetheless, they could show us how the CLO the US has embraced these concepts and tried to construct a more solid policy of inclusion of a vast and diverse workforce within flexible organisational structures.

Understanding the significance of these concerns and the importance of public initiatives for debating these key aspects and many others, Corinium Intelligence has proudly created the Chief Learning Officers Forum USA, taking place in March 7-8 2017 in New York City, for all CLOs and L&D experts in the US. The event promises to be the place in which more than 100+ L&D experts will gather to discuss these and more issues regarding the challenges they face daily and the clever solutions they have produced to implement those diversity and inclusion values. Please, get in contact and let us welcome you at the Convene 101 Park Avenue next March!

By Alejandro Becerra:

Alejandro Becerra is the Content Director for LATAM/USA for the CDAO and CCO Forum. Alejandro is an experienced Social Scientist who enjoys exploring and debating with senior executives about the opportunities and key challenges for enterprise data leadership, to create interactive discussion-led platforms to bring people together to address those issues and more. For enquiries email: alejandro.becerra@coriniumintelligence.com
Read More

Privacy is coming of age...but requires further work

| |

The world population has reached 7.4 billion, with 1.3 billion people routinely working remotely and according to Gartner, there will 6.4 Billion Connected "Things" in use this year, up 30% from 2015, suggesting human behaviours are changing at a staggering pace. Data services are the lifeblood of most businesses, and any disruption can lead to lost revenue and missed opportunities. If protecting business operations is a priority, you need a solid plan in place to reduce downtime and prevent data loss or you could be putting your business and your reputation at risk

In a recent EY privacy and security survey, 38% of respondents admit that they address security in new business processes and technologies, but not privacy specifically. Even more concerning is that when it comes to managing privacy, nearly half (46%) of survey respondents admitted that their main concern is NOT having a clear picture of where personal information is stored or processed outside of their main systems and servers (something that will not be tolerated under GDPR).

This is further exacerbated by the fact that for 40% of the respondents also confirmed that their other concern is that there are simply not enough people to support their privacy program. In a world where laws, regulations, legacy technology and business models cannot keep pace with digital change, the question many are asking is: can privacy really be protected anymore and whom should be leading these privacy programs?

Almost daily, we read about how cybersecurity and/or data privacy breaches are eroding consumer and people’s trust, and according to Robert Hanningan – Director at the UK’s GCHQ “the threat is growing in number, sophistication and impact”. So we simply cannot neglect the ever-increasing role that data privacy (and security) has in supporting any collection, storage or transfer of personal data. Because both privacy and security share common objectives and principles, both require satisfactory safeguards and assurances across the entire business operations, including its processes, its technology and its people.
...while the value of data to any brand is becoming clearer, the ability for industry to access sustainable data flows should not be taken for granted.

By 2018 there will be nearly 4 billion global internet users and 21 billion networked devices connecting people across the world. Personal Data is fuelling innovation, reshaping people’s experiences and driving economic growth in the global digital economy. The ability for industry and key brands to access, analyse and generate insights from data promises to enable unique relationships with millions of people around the world, driving relevance, while reducing waste, spam and cost to all involved.

Yet, while the value of data to any brand is becoming clearer, the ability for industry to access sustainable data flows should not be taken for granted. Safeguarding data privacy and cybersecurity is one of the biggest challenges we face. Technological innovation continues to accelerate the concept of privacy and cybersecurity, a digital era is evolving, creating challenges for industry, governments and people.

And this is not easy to achieve, even if we have in place clear (and legal) policies and a comprehensive privacy and cybersecurity compliance regime; many organisations will continue to be vulnerable from hackers, activists and human error.

So as the onus of accountability shifts from regulators to organisations (and individuals), organisations will need to take heed of where they are in terms of their privacy maturity and what they need to do to make privacy protection a part of everything in an organisation, this is not simply a question of legal compliance – this is a business problem, that requires collaboration, vision, strong leadership and direct sponsorship from the Board.

Likeminded or disagree? I would like to hear your views.

Interested in continuing the discussion? Join Steve on the GDPR Focus Day taking place at Chief Data Officer Europe. Discover the agenda here and secure your place to be in the room!

By Steve Wright:

Steve is passionate about big data and all things digital. With more than 20 years’ experience, designing, developing, managing and delivering transformational data governance, privacy and security programmes, Steve’s vast experience as a pragmatic and charismatic leader, ideally places him as the ‘trusted advisor’ to the Board on all privacy and security related matters.

Steve’s work involves proactively communicating with Data Protection Authorities from around the world and regularly training lawyers, marketers, HR and R&D personnel to ensure that they understand and know their responsibilities. LinkedIn: linkedin.com/in/stevewright1970
Read More

Your Company Needs a Chief Customer Officer. Here's the biggest reason why

| |

In today’s dynamic business environment, the one thing that should be of constant importance is the value of the customer as the lifeline of any organisation. Although many executives and business leaders are likely to agree with this notion, very few have successfully harnessed this belief and elevated the strategic importance of the customer’s needs to great effect.

This can be boiled down to a number of core challenges such as: proving ROI and quantifying the business value of customer experience efforts, unifying the organisation siloes and overcoming legacy protocol and technological infrastructure. Overcoming these obstacles is by no means an easy feat! However, once these requirements are met, the positive impact to business outcomes and sustainable organic growth should prove the importance of customer-centric initiatives and drive the business forward to a new operational and strategic model.

We had the privilege of interviewing the pioneer of the Chief Customer Officer (CCO) role, Jeanne Bliss who held the first ever CCO role at Lands’ End, Microsoft, Coldwell Banker and Allstate Corporations. Jeanne is an accomplished thought leader on customer-centric business strategy and has written several books in this space including the groundbreaking, “Chief Customer Officer” (Jossey-Bass, 2006) and her latest book, “Chief Customer Officer 2.0

Corinium: How would you describe the evolution/progression of the Customer Experience in the last 12 to 18 months? What’s driving this?

Jeanne Bliss: The CCO role has gained a great deal of momentum over the last 2 years as the three forcing functions that drove customer experience to the forefront have required CEOs and boards of directors to take note. In the economic downturn, there was a great and lasting appreciation, understanding and criticality around organic growth of the customer base. In addition to and rather than throwing most of the resources at company acquisition.

Secondly, Omni-channel and social media challenges has increased and driven them to recognise that they must find a clear operational and behavioral way to show up to customers in a different way. Omni challenges and customer recruitment and the need for one experience has cemented the need to have someone for a period of time whether they’re called a Customer Experience professional or Chief Customer Officer (CCO) to unite the siloes to create one perspective.

The requirement of companies who really focus on; organic growth, the importance of social media and really driving initiatives to recognise that you need to show operationally and behaviorally in the customer’s mind and perception, that you are building the company around their needs and priorities as well as the requirement of all customers now is to have an Omni-channel, or more importantly a one company united experience. I think all of these have put a fine point and hastened the need and desire for this requirement, at least a period of time.

Bringing in a CCO or a senior customer experience executive, should unite the organisation to deliberately understand the entire experience, focus and prioritise resources to rebuild experiences from the customer life outward.

I think it’s important to recognise that this is not about customer ownership...the CCO is not  the owner but the enabler of having one company perspective, uniting the leadership team and embedding competencies.

I think there’s another thing that’s interesting, the evolution of the Chief Marketing Officer (CMO) role and the marketing function and understanding the CMO’s standpoint on whether that person or function can step into the CCO role or absorb the customer experience efforts or activities. This is adding a lot more important and thoughtful questions about the roles inside an organisation.

I think it’s important to recognise that this is not about customer ownership, which is sometimes how it’s depicted, “who owns the customer?”, but rather the CCO is not  the owner but the enabler of having one company perspective, uniting the leadership team and embedding competencies.

Corinium: What do you believe to be the biggest challenge faced by Chief Customer Officers and what can be done to overcome these challenges?

Jeanne Bliss: You know I think the first is, and it’s interesting because most people take on this role and don’t realise that the most critical thing that a CCO must do is unite the leadership team. So that this work comes off as a leadership effort about growth, but that all the critical leaders of the organisation appear united not only philosophically but behaviorally. This will impact what they drive operationally and how they lead accountability. So I think that’s one of the very first things that really needs to occur. This is about uniting the siloes but reconfiguring with the leaders how they will and will not grow. Kind of like a “Code of Conduct” in an approach to business growth in the world of social media and customers expecting much more from every industry they do business with.

Corinium: What should customer experience executives prioritise in order to be successful?

Jeanne Bliss: The other piece is resisting the pressure that will immediately be placed on them to just be the break/fix person. It is a requirement to earn the right to the group job I think, and to prove that there is value in the role. While there is going to be some pressure to do break/fix immediately and I’m not totally against that, I’m actually an advocate of taking on some obvious big rocks. But the person has to lay the framework, I call it a growth engine, for a set of repeatable competences inside the organisation that they help to embed. If they don’t get out from being the reactionary person to solve buyers that is where they will stay for the tenor of their role, it won’t be elevated strategically and they will not be looked at as a senior partner inside the organisation leading change.

Corinium: How do you believe Big Data and Analytics impact customer experience?

Jeanne Bliss: I think big data, I prefer to think of it as operational listening, behaviorally listening and understanding what is really happening in customers’ lives as they interact with you. I think it’s a very critical part of establishing a balanced understanding of customers needs, desires and understanding how they react to the things you do to them or for them.

I believe very fervently that the people managing data and IT must link arms at the very beginning of this work with the CCO. But the work needs to begin with a business strategy that is then enabled and helped to be executed with big data and IT. Not start with tools and processes - which is unfortunately how this is being inverted right now.

With the proliferation of the influence of Customer Experience comes a floodgate into the marketplace of solutions. Tools, data solutions, dashboards, while these are helpful, if the company doesn’t have clear strategy, is it also changing leadership behavioral change and operational accountability? These tools, processes and things that look shiny and interesting are not going to impact or drive the change that is required. So, they really need to focus on and build the business case and operational strategy around it and use things to execute and enable.

But I do believe they are a very big part of it but must be part of an overall strategy.

Corinium: Why do you think executives should care about customer experience and think about having their own CCO?

Jeanne Bliss: So a couple of things, customer experience for me is four things, earning the right to growth, earning not getting growth, not going to get loyalty, but earning the right to growth through improving customers lives. It’s therefore taking a one company view of the comprehensive understanding of that life so you can prioritise what’s critical and what customers will value most.

It’s also leaders deciding, in a deliberate way, what they will and will not behave as an organisation. So at the end of the day all of this exists to earn customer asset growth, to earn the growth or loss, preferably the growth of course, of the customer base.

Are you keeping more customers than you lose? Because at the end of the day, this customer is an asset to the business and, in addition to the employees, is the fundamental shift that needs to occur inside of organisations. It’s not a dashboard that’s simply passed around an organisation, it’s talking passionately as a company, did we earn the right to growth, in the past quarter, month or year? How many customers did we bring in? How many did we lose, volume and value? What is our net customer asset growth?

Are you keeping more customers than you lose? Because at the end of the day, this customer is an asset to the business.

To me, once company leaders recognise this ROI, this distinctive and really simple measure of customer experience, it drives the importance and the need to care about the 'why'. Why are we losing customers? Why are they less engaged? To bring someone in to help the organisation move from shooting at many things, it is important to ask what are the key experiences that they need as one company architecting to deliver value? So the customer will desire to have that experience again and tell other people about it!

If you would like to hear more from Jeanne Bliss as well as leading Chief Customer Officers and Customer Experience Executives, join the inaugural Chief Customer Officer USA taking place from the 30th January to 1st February in Miami Florida where Jeanne will deliver a masterclass and keynote address on The Growth of Customer Experience and the Chief Customer Officer and How to Build Your Customer-Driven Growth Engine. For more information visit our website: www.chiefcustomerofficerusa.com 

By Andrew Odong: 

Andrew Odong is the Content Director for Chief Customer Officer USA. For enquiries email: andrew.odong@coriniumintelligence.com
Read More

Be real about Customer Experience Transformation

| |

There are some amazing examples of transformation in the world of Customer Experience. There are also some cautionary tales. A critical difference I have noticed between successful and unsuccessful CX projects: Honesty. Being real about your Customer Experience transformation can be the difference.

When the people running these projects are truly honest with themselves, the results seem to improve.
Honest about;

Progress - How they are tracking against the plan. I have seen/heard of elements in the RAG report that were Red, showing up green in the following report because a new delivery date was agreed. Be real about progress, even if it means you need to have a difficult conversation. As a leader, make sure your team feels able, to be honest.

Return - If you don't know what your return will be, don't just guess. If your return is looking to be less than initially thought, don't try to spin the story.

Ability to measure - If you are unsure of how you are going to measure success, either stop and figure it out or make sure everyone agrees that this is acceptable (I vote for option 1).

Capability - Do you have the people to deliver the project? Are there any people risks that would leave you vulnerable?

Culture - If you are thinking that you will need to change the culture in order to be able to deliver the outcome you are looking for, trust me on this, you need to transform the culture before you add a major project to the mix.

Influence - If things start to stall, do you have the influence you need to be able to keep things on track? Do you have enough buy-in of those with the influence you need?

Enterprise Infrastructure - I have heard the story over and over that a project stalled because they realised that the Infrastructure could not support the project and so they needed to delay whilst they ran a readiness project. Get your IT stakeholders involved and get it right.

Organisational readiness - I think one of the major elements here is an understanding of how transformation will impact processes and systems across the business. I had a great conversation about this last week in relation to BPM. When the problems caused by a project start to stack up, you might find you lose your support really quickly.

I can think of a list that probably goes on for a lot longer. What else do you find companies tend to overstate in CX transformation projects?

By Ben Shipley:

Ben Shipley is the Partnerships Director at Corinium Global Intelligence. You may reach him at ben.shipley@coriniumintelligence.com  Twitter: @benjaminshipley LinkedIn: https://au.linkedin.com/in/benjamindshipley

Read More

Do you have the ability to tell stories with your data?

| |

"The ability to take data…understand it, process it, extract value from it, visualize it, and communicate it, that’s going to be a hugely important skill in the next decades."  - Dr. Hal R.Varian, Chief Economist, Google, 2009 

In today’s rapidly advancing analytical world, I think it is fair to say that Dr. Varian was and still is very right.

Embedding an analytics strategy into an organisation doesn’t fail because we don’t know what to do or how to execute it. It often fails to resonate because we fail to create a story that is meaningful in the organisation and one that is able to maintain the interest long enough for capability to build to a critical mass.

In the past 5 years, there has been a huge drive in the recruitment of data and analytics experts, however this has tended to be focused around those with mathematical and economic skills rather than those with strong communications background. The latter, should, in theory, be better equipped to communicate their data in a visual way, i.e. be able to tell a story.

So why is Data Storytelling so vital? 

When you package up your insights as a data story, you create a channel for your data to become memorable, persuasive and engaging thus encouraging your colleagues to buy into your data strategy, use it and champion it. By creating a story that people can understand, it makes the acceptance and adoption of any changes to businesses that much easier.

When you package up your insights as a data story, you create a channel for your data to become memorable, persuasive and engaging thus encouraging your colleagues to buy into your data strategy, use it and champion it. 

In April 2017, Greg Nichelsen of Data Speaks Up! will be coming to London to share his expertise on the Art of Storytelling at the Chief Analytics Officer Europe. Join him and discuss:

  • Effective strategies for bringing analytics to life through storytelling and visualisation
  • How to create a compelling voice: demonstrating how analytics will drive business outcomes and achieve business strategy
  • The importance of using industry case studies and tangible results to show the outcomes your company can expect – Making it real!
To read more about what is on offer at the event, including the full speaker line of Chief Analytics Officer Europe, please click here  

Read More
Powered by Blogger.