Outlook 2013 – Emerging IT Issues
in collaboration with
Prof. Anindya Ghose
of
IS COMMUNITY
BUSINESS AND TECHNOLOGY OUTLOOK RESEARCH PROGRAM
DIGITAL TECHNOLOGY TRENDS:
Outlook 2013 – Emerging IT Issues
Milano,
23 marzo 2012
1
© 2013 BTO All Rights Reserved
Outlook 2013 – Emerging IT Issues
Agenda
— Agenda—
Pag. 3
BTO Proceedings
Pag. 5
Introduzione del programma di ricerca BTO
Pag. 23
Keynote Speech tenuto da Anindya Ghose (Stern
School of Business, New York University)
2
© 2013 BTO All Rights Reserved
Outlook 2013 – Emerging IT Issues
BTO Proceedings
BTO Proceedings
Documenti: «BTO Proceedings» è un output creato e distrubuito per divulgare i risultati di ricerca,
presentati durante gli incontri dell’Executive Community. Il documento, prodotto dal team di ricerca BTO, è
presentato in un formato che permette una consultazione dei contenuti facile e rapida.
Scopo: BTO Proceedings offre un quadro generale dei contenuti discussi durante l’Executive Community,
evidenziandone gli aspetti più importanti ed i punti di partenza della ricerca.
Abstract: Il tema della discussione di questa sessione è stato “DIGITAL TECHNOLOGY TRENDS: Outlook
2013 – Emerging IT Issues”
I cambiamenti del contesto macroeconomico, e i conseguenti scenari, hanno portato le aziende ad aumentare
il focus sulconsolidamento della propria struttura organizzativa e sulla revisione dei modelli di business.
Questa impostazione viene implementata al fine di perseguire gli obiettivi strategici in termini di controllo
dei costi, conformità ai quadri normativi e miglioramento della governance, per una più efficace gestione del
rischio. Tuttavia, all'interno di un contesto particolarmente dinamico e competitivo, la necessità di
individuare le tendenze evolutive della tecnologia digitale, permettendo la crescita e l'innovazione, diventa
un elemento importante per migliorare l'agilità di business.
Durante l’incontro è intervenuto anche Anindya Ghose, Professore di Information, Operations and
Management Sciences and Marketing alla Stern School of Business, New York University
3
© 2013 BTO All Rights Reserved
Outlook 2013 – Emerging IT Issues
Agenda
— Agenda—
Pag. 3
BTO Proceedings
Pag. 5
Introduzione del programma di ricerca BTO
Pag. 23
Keynote Speech tenuto da Anindya Ghose (Stern
School of Business, New York University)
4
© 2013 BTO All Rights Reserved
Outlook 2013 – Emerging IT Issues
Introduzione
Il calendario delle attività 2012 prevede la realizzazione di 4 incontri plenari
su temi di interesse trasversali individuati sulla base delle esigenze degli
aderenti alla Community…
— Il programma —
Digital Technology Trends: Outlook
2013 - Emerging IT Issues
1
(23 Marzo 2012)
2
IT Governance and Organizational
Design
(Giugno 2012)
Making the Business Case for
IT Investments
(Ottobre 2012)
3
4
Business Technology
Innovation
(Novembre 2012)
5
© 2013 BTO All Rights Reserved
Outlook 2013 – Emerging IT Issues
Introduzione
…l’obiettivo è fornire un supporto abilitante ai soci, attraverso contenuti di
valore strategico…
2
IT Governance and
Organizational
Design
3
Making the Business
Case for IT Investments
Digital
Business
Value
Strategic Support
Digital
Strategy
1
4
Digital Technology
Trends: Outlook 2013
- Emerging IT Issues
Business Technology
Innovation
I nostri eventi mirano a dare un supporto strategico ai nostri soci partecipanti, soprattutto nel campo della
strategia digitale e del digital business value, attraverso contenuti di alto valore, docenti
delle migliori università del mondo e il networking tra i partner
6
© 2013 BTO All Rights Reserved
Outlook 2013 – Emerging IT Issues
Introduzione
Coerentemente con gli argomenti proposti sottoponiamo alla vostra attenzione
la BTO Collection, una raccolta di articoli selezionati dal gruppo di ricerca…
— Il materiale a supporto —
CONTRIBUTO SELEZIONATO
OBIETTIVO DEL CONTRIBUTO
1
DIGITAL BUSINESS OUTLOOK
1. “Key Issues for IT Executives 2011: Cautious
Optimism in Uncertain Economic Times”
2
DIGITAL BUSINESS LEADERSHIP
2. “The Impact of Social Media on C-Level Roles”
3. “Rapid Adaptation in Digital Transformation:
a participatory process for engaging IS and
Business Leaders”
4. “CIO and Business Executive Leadership
approaches to establishing company-wide
Information Orientation”
3
DIGITAL BUSINESS VALUE
5. “The EconoMining project at NYU: Studying
the economic value of user-generated content
on the internet”
6. “How Large U.S. Companies can use Twitter
and other Social Media to gain Business Value”
7
L’importanza dell’IT, in un periodo di grandi sfide per le
imprese, si declina nel miglioramento delle performance del
business, contribuendo alla business agility e a una rapida
capacità di reazione al mercato («speed to market»).
Sviluppare una strategia di social media è essenziale oggi per
reagire in maniera efficace al mercato. Tale strategia richiede di
intensificare le relazioni tra CIO e Chief Marketing Officer
(CMO), abilitando una governance efficace delle esigenze interne
ed esterne all’organizzazione.
Abilitare la collaborazione tra CIO e Business Leader è
fondamentale per definire strategie condivise in grado di adattare
e trasformare i processi e cogliere le opportunità offerte dalla
digitalizzazione del business.
Dati e informazioni sono oggi più che mai l’asset strategico per
il business e il CIO deve guidare il cambiamento
nell’orientamento delle organizzazioni alla produzione,
condivisione ed uso di informazioni di valore.
Gli utenti internet offrono alla rete un enorme patrimonio
digitale, sfruttabile dal business tramite strumenti e tecniche di
analisi avanzati, in grado di abilitare una miglioramento dell’
offerta, adattandola alle dinamiche del mercato.
Twitter, Facebook e blog sono oggi un canale strategico di
comunicazione dall’azienda ai propri clienti. Il contributo mostra
come sfruttarne il potenziale, per creare valore per il business.
© 2013 BTO All Rights Reserved
Outlook 2013 – Emerging IT Issues
Introduzione
… e il volume “Business Model Generation” in cui si evidenzia come
individuare e configurare i fattori strategici per il digital business value
— Il materiale a supporto —
CONTENUTI E OBIETTIVI
Le sfide dell’innovazione digitale del business richiedono una chiara prospettiva circa il ruolo
dell’IT nella definizione di modelli di business (chi sono i nuovi clienti e quali le risorse in gioco).
Il business model è uno strumento che abilita l’allineamento e la convergenza tra vision, strategia e
risorse IT, in quanto chiarisce le scelte di governance, il valore competitivo delle risorse e le policy
che guidano le azioni a livello operativo.
Gli ultimi 10 anni sono stati caratterizzati da un inedito susseguirsi di innovazioni digitali in grado
di abilitare nuovi modelli di business. Eppure il «come» si siano definiti questi nuovi modelli
rimane ancora poco conosciuto, nonostante la loro capacità di trasformare i contesti competitivi nei
vari settori.
Il volume, realizzato da 470 professionisti provenienti da 45 paesi, offre potenti strumenti, semplici
e collaudati, per la comprensione, la progettazione, la rielaborazione e l'implementazione di
modelli di business; il volume, inoltre, presenta le tecniche di innovazione utilizzate oggi da
aziende leader a livello mondiale. Tali strumenti e tecniche consentono di capire sistematicamente,
progettare e implementare un nuovo modello di business - o analizzare e ristrutturarne uno
consolidato per affrontare le nuove sfide dell’innovazione digitale del business.
Il volume mostra infine come l’innovazione digitale del business debba saper sfruttare il potere
delle domande "What If". Spesso, infatti, le sfide nel concepire nuovi modelli di business innovativi
sono legate al non saper andare oltre lo status quo. Lo status quo soffoca l'immaginazione. Un modo
per superare questo problema è quello di sfidare le ipotesi convenzionali con domande "what if " per
generare nuovi modelli di business digitale.
In un contesto competitivo caratterizzato da rapidi cambiamenti e innovazioni, i
manager IT devono contribuire alla definizione di modelli di business in grado di
abilitare un’innovazione digitale del business
8
© 2013 BTO All Rights Reserved
Outlook 2013 – Emerging IT Issues
Introduzione
In questa prima sessione saranno oggetto d’analisi i Trend evolutivi e la
Strategia IT 2012.
—Executive Summary—
I cambiamenti del contesto macroeconomico e l’imporsi dei social media come principale
driver per l’innovazione di prodotti e servizi hanno contribuito all’emergere di
nuovi scenari di business per i vari settori e a una riconfigurazione del contesto
competitivo.
Queste trasformazioni richiedono alle imprese un focus maggiore su consolidamento e
qualità del proprio patrimonio informativo e una capacità di controllare e trasformare i
flussi informativi esterni e interni all’organizzazione in risorse strategiche per funzioni
centrali come il marketing. Tali funzioni devono essere abilitate nel definire strategie di
prodotto e servizio rapide, reattive, efficaci e di valore per il business.
La digitalizzazione del business promossa dai social media richiede una proattività
nell’individuare i trend evolutivi in grado di supportare la crescita del business,
l’acquisizione di nuove fasce di mercato e la capacità di soddisfare clienti sempre più
informati ed esigenti.
Gli IT executive devono affiancare al controllo dei costi e delle performance di processo
una logica «what if» per individuare le tendenze e i driver tecnologici in grado di abilitare
innovazione del business e digital customer experience management
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© 2013 BTO All Rights Reserved
Outlook 2013 – Emerging IT Issues
Introduzione
In un contesto in cui prevalgono variabilità e discontinuità, la strategia IT si
caratterizza per una serie di trend ed obiettivi emergenti
— Il contesto —
Compliance
Normativa
sempre più
stringente
- Importanza delle strategie di brand sui social
media.
-Aumento dei competitor nell’offerta di servizi
digitali.
- Aumento delle esigenze di personalizzazione e
accesso digitale a prodotti e servizi
-Aumento delle informazioni strategiche esterne
all’organizzazione.
1
Business
Competitività nei servizi
– Posizionamento del
brand e fidelizzazione
cliente
Digital Business
Technology
Strategy
- Consolidamento del
ruolo strategico
di tecnologie orientate all’utente e di
prossimità (Web 2.0, 3.0, RFID, NFC).
- Diffusione delle modalità di sourcing
cloud e «as a service».
- Centralità e diffusione degli strumenti
di supporto alle decisioni orientati ai
social media.
- Rilevanza crescente dei "Big Data"
Warehouse rispetto ai tradizionali
Enterprise Data Warehouse.
4
Evoluzione di
tecnologie
e architetture
2
-Aumento della trasparenza nei
pagamenti.
- Aumento della sicurezza e della privacy.
- Nuovi modelli di governance per
risk management.
Gestione delle
competenze e
acquisizione talenti
Organizzazione
3
- Maggiori opportunità di gestione delle
risorse umane di valore.
- Maggiore capacità di attrazione di
competenze esterne.
- Maggiore capacità di “costruzione” di
competenze interne analitiche e
trasversali.
IT
10
© 2013 BTO All Rights Reserved
Outlook 2013 – Emerging IT Issues
Introduzione
Nel 2012 la business agenda è caratterizzata oltre che da 6 fattori, con un
focus su crescita, marketing e controllo dei costi, anche da una serie di
“percezioni” del ruolo dell’IT…
— Strategic Business agenda—
Contesto
Trend
Business agenda
1.
Abilitare la crescita dell’impresa in termini di
mercato, asset e redditività (strategia)
2.
Aumentare la capacità di fidelizzare e mantenere i
clienti (marketing)
3.
Mantenere il controllo sui costi aziendali (riduzione)
4.
Creazione di nuovi prodotti e servizi (innovazione)
5.
Attrarre e trattenere «talenti» (risorse umane)
6.
Rispondere ai cambiamenti normativi e alle sfide
della privacy attraverso una gestione strategica del
rischio (compliance)
* Trend che confermano le previsioni BTO 2011
**New entry 2012
Obiettivi
Percezione del ruolo dell’IT
11
1.
Contribuire all’agilità del business attraverso
infrastrutture flessibili e sicure (Abilit. Business)*
2.
Contribuire alla produzione di soluzioni innovative
per il business (Innovazione)**
3.
Contribuire alla riduzione costi e al miglioramento
dei processi aziendali (Semplificare)*
4.
Abilitare in maniera efficace il controllo e la gestione
finanziaria (Supp. Business)**
5.
Abilitare la disponibilità di informazioni rapide,
sintetiche ed efficaci (Supp. Business )*
6.
Abilitare la gestione strategica delle nuove modalità di
sourcing e di erogazione di servizi (Supp. Business)**
© 2013 BTO All Rights Reserved
Outlook 2013 – Emerging IT Issues
Introduzione
…Nel 2012 le “percezioni” del business rispetto al ruolo dell’IT saranno
orientate ad abilitazione/supporto del Business, con un focus strategico sulla
produzione di soluzioni innovative
— Business & IT—
Percezione del ruolo dell’IT
ρ
0
+5
0
1. Contribuire all’agilità del business attraverso infrastrutture flessibili e sicure (Abilit.
Business)
2. Contribuire alla produzione di soluzioni innovative per il business (Innovazione)
3. Contribuire alla riduzione costi e al miglioramento dei processi aziendali (Semplificare)
+3
4. Abilitare in maniera efficace il controllo e la gestione finanziaria (Supp. Business)
+1
5. Abilitare la disponibilità di informazioni rapide, sintetiche ed efficaci (Supp. Business)
+1
6. Abilitare la gestione strategica delle nuove modalità di sourcing e di erogazione di
servizi (Supp. Business)
-Fonte: elaborazione BTO su basi dati scientifiche
12
© 2013 BTO All Rights Reserved
Outlook 2013 – Emerging IT Issues
Introduzione
L’agenda IT continua a essere attenta al controllo dei costi e al portafoglio
progetti, ma la consapevolezza della necessità di promuovere il valore dell’IT e
l’affermarsi di nuove priorità legate a social media indicano un cambiamento…
— IT Agenda 2012 —
Rank 2012
Azioni
Rank 2011
1
Aumentare la “consapevolezza” del Valore dell’IT
5
2
Agire sul portafoglio progetti (selezione-ROI BT)
2
3
Sviluppare e governare infrastrutture agili e modulari
1
4
Continuare a ridurre i costi di struttura (IT)
4
5
Gestire la convergenza (New Media, Social network)
8
6
Abilitare l’uso di nuovi strumenti di intelligence
9
7
Innovare le politiche di sourcing (infrastruttura e servizi)
3
8
Coinvolgere risorse business nei progetti IT
7
9
Selezionare, ampliare, e rinnovare le competenze IT
10
10
Aumentare le interazioni con altri C x O
-Fonte: elaborazione BTO su basi dati scientifiche
13
New Entry
© 2013 BTO All Rights Reserved
Outlook 2013 – Emerging IT Issues
Introduzione
…e la spesa IT conferma l’importanza del patrimonio dati e delle risorse
umane, oltre un focus sulla crescita del business
— Obiettivi della Spesa IT 2012 —
Tecnologia
22
• Data Center
19
• Sviluppo applicazioni
Area
Obiettivi
35
Spesa IT
(%)
16
• Supporto applicazioni
10
• IT Management
22
• Risorse
Umane
• Desktop e periferiche
20
• Software
8
• Help Desk
15
• Hardware
• Network (Dati)
6
• Network (Voce)
5
• Amministrazione e
8
• Supporto alla
crescita del
business
• Outsourcing
8
6
45
• Altro
30
25
• Supporto alla
operatività del
business
• Supporto alla
trasformazione
del business
controllo
*Elaborazioni BTO su fonti scientifiche e industriali
14
© 2013 BTO All Rights Reserved
Outlook 2013 – Emerging IT Issues
Introduzione
L’IT dovrà agire aumentando ulteriormente la consapevolezza del proprio
valore attraverso un’innovazione co-prodotta con gli altri CxO e volta a
trasformare in opportunità le sfide della convergenza tecnologica…
— IT Agenda 2013 —
1
Aumentare la “consapevolezza” del Valore dell’IT
0
2
Aumentare le interazioni con altri CxO (marketing)
+8
3
Gestire la convergenza (New Media, Social network)
+2
4
Abilitare l’uso di nuovi strumenti di intelligence
+2
5
Sviluppare e governare infrastrutture agili e modulari
-2
6
Selezionare, ampliare, e rinnovare le competenze IT
+3
7
Innovare le politiche di sourcing (infrastruttura e servizi)
0
8
Coinvolgere risorse business nei progetti IT
0
9
Rendere trasparenti i costi IT (budget innovazione)
+ 2*
-Fonte: elaborazione BTO su basi dati scientifiche.
*New entry previsione 2012
15
© 2013 BTO All Rights Reserved
Outlook 2013 – Emerging IT Issues
Introduzione
In sintesi l’azione dei CIO dovrà concentrarsi su 3 aree strategiche ed
essere guidata da 5 principi chiave…
— I fattori critici di successo—
Principi guida
Aree strategiche
1
Generare business, non solo abilitarlo
CONTROLLO
COLLABORAZIONE
2
Digital Business
Innovative
Organization
Generare innovazione, non solo costi
3
Sviluppare talenti, non solo risorse
4
INNOVAZIONE
Promuovere l’agilità, non solo l’efficienza
5
Progettare soluzioni di business, non solo servizi IT
16
© 2013 BTO All Rights Reserved
Outlook 2013 – Emerging IT Issues
Introduzione
... per affrontare le priorità dettate dalle sfide che il digitale porta
all’innovazione del business. Con il continuo sviluppo di programmi strategici
Sfide
1
— Le priorità 2013-2020—
Open Enterprise Platform (Innovazione di servizi)
Soluzioni
Sviluppo
Tecnologie Web 2.0/3.0 e per l’innovazione di
prodotti/servizi (cliente co-produce valore).
Interfacce 3D per interazione avanzata su mobile.
2
Business intelligence integrata a tecnologie di
social network (sentiment analysis) per attività di
previsione sulla diffusione di prodotti e servizi.
Collective intelligence e Decision 2.0
(Previsioni e supporto alle decisioni)
3
Enterprise Information Integration (Data Governance)
4
Virtualizzazione (Sourcing e Delivery)
Tecnologie per l’integrazione di dati strutturati,
semi strutturati e non strutturati (possibilità di
integrare immagini, dati da RFID e sensori con
documenti xml o record di database) per una
gestione efficace della conoscenza e per creare
valore dall’information asset.
Nuove forme di sourcing in ottica cloud per
applicazioni, piattaforme e infrastrutture per una
maggiore configurabilità sostenibile del business.
5
Mobile-Customer Experience
(Innovazione di canale)
RFID e sensori per la gestione dell’offerta e
dell’interazione con il cliente.
Tecnologie NFC per i sistemi di pagamento.
Legenda
Completato
In corso
Avvio
Digital Business Innovation Governance
17
© 2013 BTO All Rights Reserved
Outlook 2013 – Emerging IT Issues
Introduzione
Elemento distintivo del modello di BTO è rappresentato dal network di
ricercatori, che contribuisce all’ideazione e alla valutazione di soluzioni
innovative e di valore per il business…
— Il network come motore dell’innovazione —
Esperti IT
Banche
Centri di
ricerca
BTO
Aziende IT
Ricercatori
accademici
Utenti
Vendor IT
18
© 2013 BTO All Rights Reserved
Outlook 2013 – Emerging IT Issues
Introduzione
La definizione del perimetro richiede l’applicazione di una logica di analisi
derivata dagli obiettivi dell’azienda
— Definizione degli obiettivi —
ESEMPLIFICATIVO
Identificare i principali trend di innovazione in IT per i vari settori
Evidenziare i trend innovativi
Identificare i soggetti (accademici) che si occupano di innovazione in ambito
finance
Valutare le opportunità emergenti
19
© 2013 BTO All Rights Reserved
Outlook 2013 – Emerging IT Issues
Introduzione
Nel 2012 BTO svilupperà sempre più il suo “Scientific Network”, aumentando
il numero dei centri di ricerca internazionali
—Network di ricerca internazionale—
FSIC
[Cork UC]
MIT
TEPPER
[Carnegie
Mellon]
CIFT
[Berkeley]
IN CORSO DI DEFINIZIONE
E-Finance Lab
WHARTON
SCHOOL
[Penn Uni]
Hebrew
University of
Jerusalem
Hong Kong
Polytechnic
Institute
CEDEC
[NYU
Stern]
University of
Malaya
MICHIGAN
State
University
Institute for
Development
& Research
in Banking
Technology
[IDRBT]
EITIM
[Hamburg
University]
Legenda
National
University of
Singapore
Contatti esistenti
Nuovi contatti
20
© 2013 BTO All Rights Reserved
Outlook 2013 – Emerging IT Issues
Introduzione
Bocconi
21
© 2013 BTO All Rights Reserved
Outlook 2013 – Emerging IT Issues
Agenda
— Agenda—
Pag. 3
BTO Proceedings
Pag. 5
Introduzione del programma di ricerca BTO
Pag. 23
Keynote Speech tenuto da Anindya Ghose (Stern
School of Business, New York University)
22
© 2013 BTO All Rights Reserved
Outlook 2013 – Emerging IT Issues
Anindya Ghose Stern School of
Business,
New York University
Keynote Speech
Aree di ricerca
•
Il valore economico dell’IT, analizzando in primo luogo due questioni connesse:
•
Le conseguenze economiche di Internet, su industry e mercati trasformati dalla
sua infrastruttura tecnologica condivisa;
•
Il valore economico derivante dal contenuto generato dagli utenti negli spazi
mediati dai social media e i mezzi per la monetizzazione del valore di tali contenuti
Profilo
Anindya Ghose è Professore Associato di Information, Operations, and Management Sciences alla New York University's Leonard N. Stern
School of Business. È anche Daniel P. Paduano Fellow alla NYU Stern e visiting professor alla University of Pennsylvania-Wharton. È coDirettore del Center for Digital Economy Research alla NYU Stern. La sua ricerca analizza le conseguenze economiche di Internet nei settori
industriali e nei mercati trasformati dalle sue infrastrutture tecnologiche condivise. È un esperto della quantificazione del valore economico di
user-generated content in spazi mediati dai social media; nei modelli e stime della monetizzazione dei contenuti attraverso la pubblicità nei
motori di ricerca; nei modelli di consumer behavior nei social network basati sui mobile media; e nel misurare l’impatto di internet sul welfare.
http://people.stern.nyu.edu/aghose/
Publicazioni
•
Archak, N., A. Ghose, P. Ipeirotis. 2011. Deriving the Pricing Power of Product Features by Mining Consumer Reviews, Management Science, 57(8),
1485-1509.
•
Ghose, A., P. Ipeirotis. 2011. Estimating the Helpfulness and Economic Impact of Product Reviews: Mining Text and Reviewer Characteristics, IEEE
Transactions on Knowledge and Data Engineering (TKDE), 23 (10), 1498-1512.
•
Dhar, V., A. Ghose. 2010 Sponsored Search and Market Efficiency, Information Systems Research, 21(4), 760-772.
•
Yang, S., A. Ghose. 2010. Analyzing the Relationship Between Organic and Sponsored Search Advertising: Positive, Negative, or Zero
Interdependence?, Marketing Science, 29, 602-623.
23
© 2013 BTO All Rights Reserved
Outlook 2013 – Emerging IT Issues
Keynote Speech
The IT Imperative
Organizations (and therefore IT functions) need to battle constantly
opposing forces
standardized, commoditized,
consolidated, cost-optimized
provider of global business
processes
business relevant innovation,
agile forecasting and
business intelligence
Social Media and
Digital Marketing
24
© 2013 BTO All Rights Reserved
Outlook 2013 – Emerging IT Issues
Keynote Speech
Social media
• Wikis – A website that anyone can
edit directly from within the browser.
• Blogs – Blogger
• Social Networks – Facebook
• Microblogging – Twitter
• Enterprise 2.0 – Jive, Ning, Socialtext,
Newsgator, Yammer
• Others (Mashups, Virtual Worlds,
Rich Media)
25
© 2013 BTO All Rights Reserved
Outlook 2013 – Emerging IT Issues
Keynote Speech
Key social and digital trends
Social Media Usage in Financial Services: Banks and Insurance
Social Listening Via Big Data Analytics: Text Mining
26
© 2013 BTO All Rights Reserved
Outlook 2013 – Emerging IT Issues
Keynote Speech
Financial SERVICES and DIGITAL SPENDING
27
© 2013 BTO All Rights Reserved
Outlook 2013 – Emerging IT Issues
Keynote Speech
2012 will be the breakthrough year OF Social Media in FINANCIAL
SERVICES
“The Train Has Left The Station”
28
© 2013 BTO All Rights Reserved
Outlook 2013 – Emerging IT Issues
Keynote Speech
ADVANCES IN CONSUMER AND CORPORATE TECHNOLOGY:
BRINGING VALUE THROUGH MOBILE APPS
•
Vanguard – Mobile app allows users to move money; buy, sell, or
exchange within non-retirement mutual fund accounts; view news; and
research information on ETFs.
•
Fidelity Investments – Mobile brokerage-trading app that allows
users to place stock, option, ETF or mutual funds trades; access up-tothe-minute news; receive real-time quotes, and compare multiple-stock
performance with interactive charting capabilities.
•
Morgan Stanley - Google’s Android app allows investors access to
research on fixed-income markets, stocks, currencies along with the
firm’s daily reports as well as direct access to the analysts.
29
© 2013 BTO All Rights Reserved
Outlook 2013 – Emerging IT Issues
Keynote Speech
REGULATORY ENVIRONMENT
•
As insurers increasingly use social media, they need to adopt policies
and guidelines and be alert to the risks.
•
The various state and federal laws that apply to advertising are likely to
apply to content on social media sites.
•
These include laws proscribing false and misleading statements (e.g.,
misrepresentations of benefits, advantages).
•
Other areas of the law that may apply include contracts, intellectual
property, privacy, and insurance trade practices.
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MORE FAVORABLE REGULATORY ENVIRONMENT
•
Recently, the Insurance Marketplace Standards Association (IMSA), an
industry organization created to promote high standards of ethical
conduct, released its Social Media Policy Template.
•
Financial Industry Regulatory Authority (FINRA) issued Notice 10-06,
which outlined how marketing on social media platforms translated
into current disclosure rules.
•
•
Social Media Policy Development, Recordkeeping Responsibilities, Types of
Electronic Forums, Company Blogs, Third Party Posts, Supervision of Social
Media Sites.
40% of financial institutions expect to invest 2-10% of their overall
marketing budget on social media in 2012.
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POSITIVE EXPERIENCE FROM SOCIAL MEDIA PIONEERS
•
Communicate with advisors: Charles Schwab, Morgan Stanley Smith
Barney, Raymond James and Vanguard use Twitter to distribute
research.
•
Recruiting: Ameriprise, KeyBank and Scottrade, Corporate use their
Facebook pages to post information about internships and career
opportunities.
•
Helpdesk - Twitter as a customer service channel: Bank of America,
Citibank and Wells Fargo.
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Most ‘Muscle’ on social media
•
American Express
During 2011 they had 4 of the top 10 Facebook pages within the financial
industry, based on number of Likes.
They also had the two most followed Twitter accounts within the sector.
•
Chase Freedom Facebook page has almost 500k Likes.
Visa’s and Mastercard’s pages only have about 150k and 200k likes,
respectively.
•
Greater product transparency
•
How do they do this?
Creative “bribes”
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Best “Like” Bribe = American Express
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Banks AND Social Media
•
A study of 6,000 customer service interactions on Twitter with Bank of America,
Citigroup, and Wells Fargo.
•
Twitter was a lightning rod as customer service interactions tripled at the three
trailblazing banks.
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Sometimes Even Big Banks Struggle on Social Media
Banks have had a mixed record of resolving complaints via Twitter.
Citigroup resolved 36 percent of its Twitter-based complaints
Wells Fargo - 11 percent
Bank of America - 3 percent.
Challenges
Consumers often receive no response because they misdirect tweets to the wrong
bank handles (@BankofAmerica, @Citi or @WellsFargo).
CSRs resolve only a minority of interactions on Twitter.
CSRs commonly post repetitive, scripted answers that put the onus on customers to
proceed— diminish the appeal for customers reaching out to an FI on Twitter.
Doesn’t necessarily mean the complaints weren’t ultimately addressed
elsewhere, but they were not resolved via Twitter.
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TakeawayS
Greater product transparency via digitization and social media makes it
easier for customers to find the relevant product at the right price.
But also swap from one provider to another.
As customer loyalty generally decreases, service expectations are rising,
for example for faster, more convenient and more personalized service.
Service is a lot more personal when you communicate with your
customers on the social channels they use.
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Social Media in the Insurance Industry
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Social Media in the Insurance Industry
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Social Media in Insurance
Allstate's Vehicle Vibe community is trying to lower risk with driver
education and safety tips.
Allstate’s Facebook Fanpage used as passive recruiting tool with college
students.
Progressive Casualty Insurance effectively uses Twitter for customer
service to update consumers in severe weather.
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Social Media in the Insurance Industry
Insurance firms that have embraced social media enjoy tangible benefits in
•
•
•
•
lead generation
information dissemination through brokers and agents
customer retention
employee recruiting
Online conversations need not be just about transactions.
Engage and have dialogue with people on common areas of interest and building
relationships online.
Policyholders will influence each other about your brand. Engage in social listening!
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Social Media in the Insurance Industry
TAKEAWAYS
Think of how you can use social media, not how others are using it.
Adopt guidelines and best practices for employees to follow for communications
over social media.
• Courts are more likely to be sympathetic if you adopted guidelines and made a
good faith attempt to follow them.
The risks of not participating are increasing every day.
• Adopt social listening: Customer Insights via Big Data Analytics
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Social Listening
Big Data Analytics: Customer Insights via Automated Text Mining
Product feature extraction from customer comments
Sentiment analysis from customer comments
Linguistic style analysis of customer comments
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Research Objective
Can we use the Web as a marketing research playground?
Can we quantify the rich, yet unstructured, information consumers post
on the web?
Uncovering market structure from listening to and parsing the
information consumers are posting on the Web.
The text we mine from social media outlets is another set of data about
the customer, just like the call center, website, or customer surveys.
In some sense social media provides a source of unsolicited surveys.
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Using consumer generated content for marketing research
What are the opportunities? What are the difficulties?
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Mining Consumer Forums
Opportunities
A combination of observational and descriptive marketing research
Permits both qualitative and quantitative information
Non-invasive (no demand effect)
Minimizes recall error
Very rich data
Sample size is not an issue
Real time data
Difficulties
Massive amount of data
Data is all over the Web
Data is unstructured
Population may not be representative
Topic of discussion may not be representative
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Automotive Industry: Brand Associative Networks and Market Structure
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What Are We Going to Do?
Text mine consumer postings
Use network analysis framework and other co-occurrence
methods of analysis to reveal the underlying market
structure
compact
sport
old
Audi A6
67
345
56
Honda
Civic
1384
539
245
Toyota
Corolla
451
128
211
Co-occurrence and
Network Analysis Methods
Text Mining
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The Text Mining Part
<Brand>Honda</Brand>
Edmunds.com sedan forum
<Model>Honda Accord</Model>
<Brand>Toyota </Brand>
<Model>Toyota Camry</Model>
<Term>Sedans</Term>
Honda Accords and Toyota Camrys are nice
sedans, but hardly the best car on the road
(for many people). It's just that they are very
competent in their price range. So, a love fest
of the best selling may not tell you what is
"best".
<Term>Best</Term>
<Term>Competent</Term>
<Term>Price</Term>
<Term>Love</Term>
<Term>Best selling</Term>
<Term>Best</Term>
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Product Co-occurrence Data
Message #1199 Civic vs. Corolla by
mcmanus Jul 21, 2007 (4:05 pm) .
Yes DrFill, the Honda car model is
sporty, reliable, and economical vs
the Corolla that is just reliable and
economical. Ironically its Toyota that
is supplying 1.8L turbo ... Neon to his
16 year old brother. I drove it about
130 miles today. Boy does that put all
this Civic vs. Corolla back in
perspective! The Neon is very
crudely designed and built, with no
low ...
Audi A6
Audi A6
Honda Civic
Honda Civic
Toyota Corolla
Toyota Corolla
Honda Civic
Toyota Corolla
Audi 6
Toyota Corolla
Audi A6
Honda Civic
252
101
252
2762
101
2762
Associative Network
Audi A6
Honda Civic
Toyota Corolla
Audi A6
---
252
101
Honda Civic
252
---
2762
Toyota Corolla
101
2762
---
P( A, B)
lift( A, B) =
P(A) × P(B)
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The Car Models Network
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Spring embedded
Kamada Kawai graph
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Perceptual Map of Brands
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Brand-Switching Map
Based on JD Power PIN Data
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Perceptual Map of Brands
Brand-Switching Map
Text Mining Map
• Similar results using survey-based
consideration set data
• Correlation=0.76
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The Second Coming Of Cadillac
2004 CADILLAC XLR
Cadillac stakes a claim in
the luxury-roadster arena.
Nov. 4, 2003
By David Welc
June 2003
BY CSABA CSERE
“Looks like Cadillac intends to become a
full-service luxury carmaker again.”
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Cadillac Positioning – Time Trend
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Cadillac Positioning – Sales vs. TM
Text-mining-based trend
Sales-based trend
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Model-Term Analysis – 2 Mode Network
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Other successful case studies
Ford Motor: Text Mining of Twitter comments
Integrating Social Media With Loyalty/Defection Models
Extract signals of future vehicle purchase decisions from customer comments found
through social media outlets
Capture those signals in the form of predictive variables to put into loyalty models.
Those variables and their associated model coefficients will quantify the “buzz effect”.
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Deriving Insights…
Competitive landscape
Building brand association maps
Competitive intelligence
Identifying customers (opinion leaders, potentially profitable, at risk)
Brand monitoring
“structured” exploratory research
Tracking marketing campaign effectiveness
Utilizing other textual information
(e.g., call center)
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Same idea, different focus:
How reviews (text) affect product sales?
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Does Text in Product Reviews Matter?
I love virtually everything about this camera....except the lousy picture quality. The
camera looks great, feels nice, is easy to use, starts up quickly, and is of course
waterproof. It fits easily in a pocket and the battery lasts for a reasonably long
period of time. It even comes with a nice padded belt case. But after you have seen
the results, all you will be thinking about as you frame that next shot is if you'll get
home and discover the picture you just took is so bad its unusable.
…
Comment | Was this review helpful to you?
(Report this)
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Two issues
Sentiment analysis of Word-of-Mouth:
• Social and economic impact of subjective vs. objective comments?
• Linguistic styles? Readability? Spelling errors? Grammar?
Can we learn consumer preferences from product reviews?
• How important is each product feature to customers?
– Is “long lasting battery” more important for a digital camera than “lousy picture
quality’’ or ‘’great looking screen”?
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Text does matter : sentiment analysis
1.
Extent of subjectivity, readability, and linguistic correctness in reviews matters
significantly in influencing sales over and above aggregate information.
• Predictive accuracy in forecasting sales increases by 10% or more
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Best camera!
Positive? Negative?
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-0.20%
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Tell me something specific, you shill!
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Positive?
Negative ?
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“If this is the worst that can happen…”
Reviews with negative sentiments can increase sales when the reviews are informative.
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What product features do customers want?
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Point-and-Shoot: Lenses, zoom, …
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Point-and-Shoot: Lenses, zoom, …
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Takeaway
Not sufficient to know what people say
Measure what people DO
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Monetizing Text in Product Reviews: Sales
Examine differences in product demand before and after product reviews to learn
consumer preferences.
Keywords mined from UGC have a direct economic impact on sales.
Keyword (product reviews)
Sales Impact
``Reliable digital camera’’
+1.6%
``Great image quality’’
+2.5%
``Long lasting battery’’
+2.7%
``Cute bluetooth handset’’
+3.2%
``Fourth-generation Nano’’
+2.4%
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Online Communities: Text in Blogs
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Text in Credit Card Reviews: Customer Satisfaction Scores
UGC is frequently created in a commercial context (social commerce)
Keywords mined from UGC have a direct economic value on customer satisfaction scores
Keyword (blogs)
Customer
Satisfaction Score
``too many fees’’
-2.1%
``frequent limit increases ’’
+3.2%
``great for international travel’’
+2.4%
``lowest APR’’
+2.6%
``companion fare scam’’
- 1.5%
``low credit limits’’
- 3.7%
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Impact of MOBILE ON Retail
•
More than half of adult cell phone owners used their cell phones while they were in a store to
get help with purchases during the 2011 holiday season.
•
(33%) used their phone specifically for online information while inside a physical store—
either product reviews or pricing information.
•
One in five “mobile price matchers” ultimately made their most recent purchase from an
online store, rather than a physical location.
•
Mobile will impact retail purchases.
•
Is your website mobile optimized?
•
Do you have a mobile specific ad copy?
•
Do you have mobile only campaigns?
•
What is your mobile ad strategy and format?
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Social COMMERCE Platforms
•
The consumer ‘Likes’ a brand on Facebook, then when the brand shares an exclusive deal on
the Facebook page, then he makes the product selection and completes purchase without
having to leave the Facebook environment.
•
Currently, Macys offers coupons in your newsfeed.
•
Macys, Victoria’ Secret, Saks Fifth Avenue claim they will not adopt in-stream ecommerce
anytime in the near future because consumers don’t go to Facebook to shop.
•
Macys and Victoria’s Secret topped the Digital IQ Index last Fall.
•
What will take it to make firms adopt in-stream Twitter or Facebook e-commerce, i.e.,
make purchases from within Twitter and Facebook?
•
Are people going there to shop?
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Socialization of TV
• During this year's Super Bowl, a record five million viewers tweeted or
made other social media comments—not just about the game, but also
about the beer, snack, and car ads.
• This activity—up from 900,000 last year making Super Bowl posts
during last year's game—is now happening at such a vast scale that
executives in television, broadcast news, and advertising expect
analytics of the comments to start shaping advertising choices—and
even the direction of news coverage—in near real-time.
• Three-quarters of Super Bowl ads were viewable on the Internet,
predominantly YouTube, on the Friday before Super Bowl Sunday.
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Socialization: Impact on TV Advertising
• Some advertisers even purchased hashtag keywords against
other Super Bowl advertisers.
• For example, GM and Chrysler purchased Audi’s #solongvampires in
Twitter search in order to serve Promoted Tweets for their brands.
• GM, Best Buy, and Hulu were among the brands to aggressively and
defensively purchase Promoted Tweets against their own hashtags.
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Socialization of TV: Impact on Advertising
• Ads Direct Traffic To Brand Websites And Social Networks
•
A handful of ads included Facebook URLs, like Budweiser’s GE and
Samsung.
• Many brands took advantage of their URLs to redirect traffic to multiple
destinations over time. For example, Coke's Cokepolarbowl.com
redirected visitors to a Facebook app, then to YouTube after the game.
• Instead of actively promoting Twitter brand handles, approximately 10
ads promoted a Twitter hashtag, like Bud Light Platinum’s
#makeitplatinum, Audi’s #solongvampires and Best Buy’s #betterway.
• Are you ready to face the implications of socialization of TV on
entities involved in the ecosystem?
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Growth of ONLINE Content
Three trends are coming into focus.
•
Frictionless publishing: Anyone with a smartphone can be a publisher. We’re all
media and we’re on all-the-time.
•
Content remixing: News organizations, and brands for that matter, can no longer
produce content in singular formats. We have seemingly countless ways to
express stories – with text, photos, graphics, audio, video, etc.
•
Functions converging: Is a company’s Facebook page marketing, advertising,
customer service or public relations? Actually all and none at the same time.
•
Need a new organizational approach to address internal conflict and
contradiction that can come from multiple brand sources – especially where
content converges on specific platforms like YouTube, Facebook and Twitter.
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Chief Content Officer
Along with agency partners, we discuss brand strategy, media planning, creative
development, social media, that guide PR, plus all avenues to get employees
behind corporate and brand programs.
Content is in the center of it all.
Few organizations have an overarching strategy that channels all this branded
content into a consolidated planning model.
Future organizations may need a Chief Content Officer!
Do we need to look for new leaders and content functions to emerge to support
a range of marketing disciplines and community programs?
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