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Archive for the ‘ceo study’ Category

IBM Opens Lab To Bring R&D To The CEO

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One of the things we heard about extensively during our time on the ground at SXSW Interactive 2013 in Austin over the past week was the importance of the customer experience.

Whether that be in applications in mobile devices, in customer service via the social media, the physical experience of a brand’s product or service…the customer experience rules!

And this anecdotal data is supported by IBM’s own research, including last year’s Global CEO Study, which queried 1,700 CEOs from 64 countries and 18 industries and found that CEOs are changing the nature of work by adding a powerful dose of openness, transparency, and employee empowerment to the command-and-control ethos that has characterized the modern corporation for more than a century.

The study revealed that the advantages of this fast-moving trend are clear: Companies that outperform their peers are 30 percent more likely to identify openness — often characterized by a greater use of social media as a key enabler of collaboration and innovation — as a key influence on their organization.

Those “outperformers” are also embracing new models of working that tap into the collective intelligence of an organization and its networks to devise new ideas and solutions for increased profitability and growth.

In order to forge those closer connections with customers, partners, and a new generation of employees in the future, CEOs plan to shift their focus from using e-mail and the phone as primary communication vehicles to using social networks as a new path for direct engagement. And while social media is the least utilized of all customer interaction methods today, it stands to become the number two organizational engagement method within the next five years, a close second to face-to-face interactions.

Big Data, Big Opportunity

Given the data explosion being witnessed by many organizations, CEOs also recognized the need for more sophisticated business analytics to mine the data being tracked online, on mobile phones and social media sites. The traditional approach to understanding customers better has been to consolidate and analyze transactions and activities from across the entire organization. However, to remain relevant, CEOs must piece together a more holistic view of the customer based on how he or she engages the rest of the world, not just their organization.

The ability to drive value from data is strongly correlated with performance. Outperforming organizations are twice as good as underperformers at accessing and drawing insights from data. Outperformers are also 84 percent better at translating those insights into real action.

From Theory to Action

To this end, IBM today announced the creation of the IBM Customer Experience Lab, dedicated to helping business leaders transform the way customers experience their products, services and brands through the use of mobile, social, cloud and advanced analytics technologies.

IBM Research scientists and business consultants will co-create with clients to deliver systems that learn and personalize the experiences of each individual customer, identify patterns, preferences and create context from Big Data, and drive scale economics.

The IBM Customer Experience Lab will provide CEOs, CMOs, CFOs, heads of sales and other C-suite executives direct access to a virtual team of 100 researchers, supported by the deep industry and domain expertise of thousands of IBM business consultants addressing the opportunities of the digital front office.

In the new age of Big Data and analytics, organizations are reassessing how to move from addressing mass audiences to personalized relationships. The same technologies allow enterprises to engage in new ways with their employees, allow government agencies to build new relationships with citizens, or enable new models of interaction among students and educational institutions.

IBM Research is developing technology assets and capabilities that can help deliver front office capabilities as a service from a cloud, design novel products to match customer preferences, and leverage math and psychological theories of personality to improve marketing effectiveness.
Client Engagements

The Lab focuses on innovation breakthroughs in three primary areas:

  • Customer insight. Applying advanced capabilities such as machine learning and visual analytics to predict differences in individual customer behavior across multiple channels.
  • Customer engagement. Using deep customer engagement to drive insight and continuously deliver value by personalizing engagement, versus transactional experiences.
  • Employee engagement. Embedding semantic, collaborative, and multimedia technologies to foster employee engagement and insight – in person and online.

Among the clients engaged with IBM on advancing their innovation process are Nationwide Building Society, the world’s largest building society serving 15 million members in the United Kingdom, and Banorte, one of the largest banks in Mexico with more than 20 million customers.

“Mobile and social technologies, and the ability to access information anytime, anywhere, is driving significant change in the way consumers bank and in the services they expect,” said Martin Boyle, Divisional Director of Transformation, Nationwide Building Society. “Our ability to innovate and anticipate, and not just respond, is what sets us apart from the competition and helps us to provide our customers with new and better ways to do business with us. By partnering with IBM, we can tap into its vast research and innovation expertise and facilities, which has already proved invaluable in our transformation program and will continue to be an important part in how we continue to innovate our service for customers.”

New Tools and Capabilities

The Lab provides IBM clients with an innovation process, assets and platform to give line of business leaders the exclusive ability to work side-by-side with IBM researchers and business consultants to analyze business challenges and jointly create solutions that integrate next-generation mobile, social, analytics and cloud technologies.

Co-creation with clients includes an innovation model called Innovation Discovery Workshops, which generate ideas, roadmaps, prototypes and solutions that draw on research assets, business consulting and IBM Software solutions in areas such as Smarter Commerce, Big Data, analytics, and Mobile First products.

The IBM Customer Experience Lab will be headquartered at the Thomas J. Watson Research Center in Yorktown Heights, N.Y., supported by researchers at IBM’s 12 global labs including Africa, Brazil, California, China, India, Israel, Japan, Switzerland, and Texas.

The Lab brings together skills across disciplines including service science, industries research, mathematics and business optimization, social, mobile, Smarter Commerce, data mining, cloud computing, security and privacy, cognitive computing and systems management. IBM invests more than $6 billion annually on research and development and employs about 3,000 researchers worldwide. IBM Global Business Services deploys business consulting, applications and delivery expertise globally, including market-leading business analytics, Smarter Commerce, mobility and applications management practices.

Visit here for more information about the IBM Customer Experience Lab, and follow IBM’s innovation breakthroughs on Twitter at @IBMResearch.

New IBM Software Transforms the Digital Experience

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The IBM Intranet Experience Suite pulls together company information and data, personalized content and news, and social media and analytics, enabling employees to connect, collaborate and access information at anytime, from anywhere.

IBM today announced new software that helps CMOs and CIOs transform the digital experience for employees, customers and fans across a broad range of mobile devices.

The IBM Intranet Experience Suite pulls together company information and data, personalized content and news, and social media and analytics, enabling employees to connect, collaborate and access information at anytime, from anywhere.

By 2017, the CMO will have greater control of the IT budget than the CIO, according to Gartner. Marketing budgets will grow 7-8 percent over the next 12 months, which is 2-3 times that of IT budgets.

With the growing number of mobile devices, social networks and social media tools on the rise, CMOs struggle to reach their audiences. At the same time, CIOs are struggling to provide access to company data on every type of device for a geographically distributed workforce.

Given the business realignment between marketing and technology, the CMO and CIO can no longer afford to operate on separate stages. To succeed, they’ll have to forge a shared agenda to deliver business results through innovation and efficiency, working together to streamline their technology needs.

The convergence of social and mobile is prompting organizations to revisit decades-old website to create exceptional web experiences to reach and engage with their audiences.

And despite their growing reliance on technology and their soaring budgets, CMOs readily admit they lack the skills that IT requires. According to the IBM CMO Study, while 79 percent of CMOs expect high levels of complexity in their job over the next five years, only 48 percent feel prepared to deal with it.

Building on these increased demands, IBM is delivering a new Customer Experience Suite giving millions of marketing professionals the power to manage and integrate all types of data on their web sites and then analyze it for deeper insight into customer buying patterns and sentiment.

Also delivered today, the new IBM Intranet Experience Suite pulls together company information and data, personalized content and news, and social media and analytics, enabling employees to connect, collaborate and access information at anytime, from anywhere.

The Power of Social, Mobile And Analytics

The new IBM Intranet Experience software brings together the power of social networking, analytics and mobile computing to front office operations and externally to clients, allowing companies to create exceptional Web experiences. As a result, organizations can gain faster insight on customer buying patterns and consumer sentiment allowing them to more quickly reach and engage their audiences.

At European industrial automation technology manufacturer Omron, employees are connecting knowledge and technical know-how through the organization’s Intranet, helping to meet the specific needs of their customers.

Omron delivers an exceptional Web experience through a single communication platform that embeds relevant social data into the daily workflow. Omron has sped knowledge sharing across boundaries and between departments, enabling employees to support customers better and faster.

Working with IBM and its partner Portico, Omron created an award-winning business intranet, called Ozone internally, helping to create a single-source communication and collaboration platform for all 1,700 European employees.

The IBM Intranet Experience Suite integrates with external social media, including Twitter, LinkedIn and YouTube, allowing employees to pick and choose which applications they want in their Intranet view. For example, a sales manager can leverage the Cognos software integration to ensure a clear view into monthly sales reports by region, as well as competitive background on new product updates and forecasts.

“The world is changing and is becoming increasingly connected and social,” said Michel Min, Head of Strategic Communication & eMarketing, Omron Europe B.V. “Because of this, we know our clients are changing as well, which is why it’s increasingly important to ensure our sales teams have the right information at the right time.”

Analytics to Help Marketers Engage Audiences 

From digital marketing and mobile commerce, to websites and social media, marketers are inundated — often paralyzed — by data amassed from consumers via searches, purchase histories, Facebook “likes” and comments on Twitter.

Combine that with data about in-store traffic, conversations with call centers and updates from suppliers, today’s marketers confront a daily deluge of data waiting to be sifted for nuggets of intelligence they can act upon to boost their business.

Because of this, it’s critical for CMOs to not only be aware of and monitor the social conversation, but to truly understand the sentiment and interact one-on-one with that customer. Taking it one step further would be to integrate these conversations directly into the organization’s web site, providing one place to both network and shop.

The new IBM Customer Experience Suite provides CMOs with the power to manage and integrate all types of data on their web sites and then analyze it for deeper insight into customer buying patterns and sentiment.

Web data has evolved today to include social media, videos, and web-based forms, as well as traditional enterprise data such as financial, customer and order data, and transactions. The software suite pulls together IBM’s market-leading enterprise portal, web content management, forms, and enterprise social networking software into a single view.

CIOs Creating Exceptional Intranets To Help Employees Gain Insight from Data Deluge

The new IBM software also helps business leaders extend their corporate intranet to a broad range of mobile devices in an effort to deepen employee collaboration and information sharing.

According to IDC, employees typically see up to a 30 percent increase in productivity using social tools internally to complete their work. With unlimited access to any type of information, consumers expect this same level of information availability in their professional lives, in order to work efficiently and reach business goals quickly.

The new IBM Intranet Experience software brings the power of social and analytics capabilities to CIOs and lines of business employees helping organizations innovate and evolve their internal operations and communications. The solution pulls together company information and data, personalized content and news, and social media and analytics, enabling employees to connect, collaborate and access information at anytime, from anywhere.

You can learn more about the IBM Intranet Experience Suite here.

IBM Midmarket CEO Study: Collaboration and Transparency Key to Providing An Edge

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IBM continued its rolling tide of market insights with the announcement this morning of its global study of midmarket CEOs.

The headline: Nearly twice as many smaller- and medium-sized business CEOs see creating a more collaborative work environment with a higher level of openness and transparency as a top priority compared to the findings from the IBM CEO study conducted in 2010.

A total of 45 percent of midmarket CEOs see the need to create a more open business environment, a close to 50 percent jump from two years ago.

The study also unearthed the following:

  • Nearly 70 percent of midmarket CEOs aim to partner extensively with other companies as external relationships will play a more critical role to CEOs’ overall business strategies
  • 64 percent of midmarket CEOs are focused on creating a more collaborative environment to engage employees with a new way of making faster and better decisions in an increasingly changing business environment
  • 71 percent are focused on improving their understanding of individual customer needs.

Impact of Social: Changing The Way Products And Services Are Marketed

CEOs also discussed the whirlwind of “social”change they’re witnessing. Facebook, Renren, Twitter, Weibo, Foursquare and other social media upstarts have changed the way products and services are marketed to consumers.

Despite the surge in social media adoption around the world, only 15 percent of midmarket CEOs are using social media platforms to connect with the individual consumer today. Three to five years from now, that number is poised to spike to 50 percent.

Market dynamics and technological advances continue to force more organizational change, significantly impacting how midmarket businesses engage with customers and employees and drive innovation.  Midmarket CEOs are now looking to technology not only to make them more efficient but also to enable increased collaboration and create relationships — essential connections to fuel creativity.

Rising Complexity, Escalating Competition Drive Partnering

Rising complexity and escalating competition have also made partnering a core innovation strategy for many organizations.  As midmarket businesses become more geographically diverse and interact with other organizations, the importance of sustaining a collaborative business culture will only continue to grow.

Those that are perceived to be collaborative often find it easier to partner with other successful companies.  In fact, about 50 percent of midmarket CEOs see partnering or collaborating as a way to stay on the path of innovation.

Greater Openness, Transparency, And Focus On Talent

In addition, given the market pressures to operate with greater openness and transparency, CEOs are looking for employees who will thrive in this kind of atmosphere. CEOs are increasingly focused on finding top talent with the ability to constantly reinvent themselves. These employees are comfortable with change; they learn as they go, often from others’ experiences.

CEOs regard interpersonal skills of collaboration (72 percent), communication (68 percent), creativity (58 percent) and flexibility (66 percent) as key drivers of employee success to operate in a more complex, interconnected environment.

Organizations are under intense pressure to respond to not only how customers want products and services delivered, but also when and where. Businesses can profit from unique insights they discover about customers. In fact, 65 percent of midmarket CEOs identify customer insights as the most critical investment area.

To effectively engage individual consumers and clients, organizations must weave together insights about the whole person from a variety of sources. They will need stronger analytics capabilities to uncover patterns and to act on insights. Two such examples are as follows:

Mobility: A Change Agent

Finally, mobility is elevating customer expectations and creating new challenges for CEOs.   Midmarket clients have a tremendous opportunity to create value out of immediacy to be ready with relevant services and information in the context of the moment.

As mobile commerce is expected to reach $31 billion by 2016, companies will need to take advantage of location based services and new forms of commerce in which mobile is integrated into a consumer’s multichannel experiences, tailored to the individual, to stay competitive.

“Midmarket CEOs are establishing more open and collaborative cultures —in which employees not only connect more with each other and the outside world to innovate, but to reinvent themselves. Learning from each other, they stay ahead of the skills curve and open to change,”   said Andy Monshaw, General Manager of IBM Midmarket Business.

“Business leaders are embracing technology in completely new ways to spot oncoming threats, capture an immediate, unexpected business opportunity, address business challenges with a clear focus on partnering with other organizations to seize these opportunities to drive growth and innovate.”

You can learn more about the IBM Midmarket 2012 CEO Study here.

New IBM CEO Study — Command & Control Meets Collaboration

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Just because I’m here in Madrid covering the IBM Smarter Commerce Global Summit doesn’t mean that there isn’t other important news emerging from back at the mother ship.

This year’s IBM CEO study reveals three new essential imperatives for changing the nature of business: Empowering employees through values, engaging customers as individuals, and amplifying innovation with partnerships.

In fact, there’s some major news that I always get excited to report on, and that’s the results from our annual CEO study.

The ink on the report is hardly dry and straight off the presses, but this year’s study of more than 1,700 CEOs from 64 countries and 18 industries has a headline that CEOs (and their C-level ilk) everywhere may be interested to hear: CEOs are changing the nature of work by adding a powerful dose of openness, transparency, and employee empowerment to the command-and-control ethos that has characterized the modern corporation for more than a century.

Now that, ladies and gentlemen, is a headline!

The study reveals that the advantages of this fast-moving trend are clear: Companies that outperform their peers are 30 percent more likely to identify openness — often characterized by a greater use of social media as a key enabler of collaboration and innovation — as a key influence on their organization.

Those “outperformers” are also embracing new models of working that tap into the collective intelligence of an organization and its networks to devise new ideas and solutions for increased profitability and growth.

For those of us who have been working in the social realm for some time now, we’re probably not exactly surprised to hear this news.  But to have it come from the lips and pencils of the CEOs themselves…well, change it is a comin’ and for many, has already arrived.

In order to forge those closer connections with customers, partners, and a new generation of employees in the future, CEOs plan to shift their focus from using e-mail and the phone as primary communication vehicles to using social networks as a new path for direct engagement.

Today, only 16 percent of CEOs are using social business platforms to connect with customers, but that number is poised to spike to 57 percent within the next three to five years.

And while social media is the least utilized of all customer interaction methods today, it stands to become the number two organizational engagement method within the next five years, a close second to face-to-face interactions.

Top Down To Bottom Up

With this news coming after decades of top-down control, this shift has substantial ramifications — not just for CEOs — but for their organizations, their managers and employees, and also for universities and business schools, not to mention we technology suppliers.

More than half of CEOs (53 percent) are planning to use technology to facilitate greater partnering and collaboration with outside organizations, while 52 percent are shifting their attention to promoting great internal collaboration.

Of course, greater openness doesn’t come without some risks.  Openness increases vulnerability. The Internet — especially through social networks — can provide a worldwide stage to any employee interaction, positive or negative. For organizations to operate effectively in this environment, employees must internalize and embody the organizations’ values and mission.

This also means organizations must equip employees with a set of guiding principles that they can use to empower everyday decision making. And championing collaborative innovation is not something CEOs are delegating to their HR leaders. According to the study’s findings, business executives are interested in leading by example.

That is, from the front.

Big Data Means Big Changes

Given the data explosion being witnessed by many organizations, CEOs also recognize the need for more sophisticated business analytics to mine the data being tracked online, on mobile phones and social media sites.

The traditional approach to understanding customers better has been to consolidate and analyze transactions and activities from across the entire organization. However, to remain relevant, CEOs must piece together a more holistic view of the customer based on how he or she engages the rest of the world, not just their organization.

The ability to drive value from data is strongly correlated with performance. Outperforming organizations are twice as good as underperformers at accessing and drawing insights from data. Outperformers are also 84 percent better at translating those insights into real action.

From Theory to Action

This latest study is the fifth edition of IBM’s biennial Global CEO Study series.  To better understand the challenges and goals of today’s CEOs, IBM consultants met face-to-face with the largest-known sample of these executives between September 2011 and January 2012.

1,709 CEOs, general managers, and senior public sector leaders were interviewed around the world to better understand their future plans and challenges in an increasingly connected economy.

For access to the full study findings and case studies, please visit the IBM CEO Study website.

In the meantime, check out the video from Shell CEO Peter Voser to hear what he has to say about partnering to drive innovation.

What Do CEOs DO All Day?

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If you were wondering what your CEO was doing all day, you need wonder no longer.

A story in today’s Wall Street Journal cites a research study conducted by the London School of Economics and Harvard Business School entitled the “Executive Time Use Project” reveals that CEOs spend about a third of their work time in meetings.

Funny, I would have thought a third of their time was spent on airplanes!

In any case, as a study overview on the London School explains, “A CEO’s schedule is especially important to a firm’s success, which raises a few questions: What do they do all day?”

And, more importantly, can they be more efficient with their time?

Here’s a few other sound bytes from the study:

  • On average, some 85 percent of a CEO’s time was spent working with other people, with only 15 percent spent working alone.
  • The time CEOs spent with outsiders had no measurable impact on firm performance. But, time spent with other people inside the company was strongly correlated with positive increases in productivity.
  • In companies with stronger governance, CEOs spent more time with insiders and less time with outsiders, and at the same time were more productive.

So how else did they spend their time? In total, some 85 percent was spent working with other people through meetings, phone calls, and public appearances.

Of that precious time spent with others, 42 percent was spent with only “insiders,” 25 percent with insiders and outsiders together, and 16 percent with only outsiders.

The time spent with insiders, however, was strongly correlated with productivity increases. For every 1 percent gain in time spent with at least one insider, productivity advanced 1.23 percent.

Not so reassuring was the fact that the time CEOs spent with outsiders had no measureable correlation with firm performance.

Turbo’s Translation: Focus on meeting with your more senior troops, skip some of the speaking engagements, and be very discriminating about the biz dev meetings you take.

Information on Demand 2011: Big Data, Bigger Insights

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Greetings from Viva Las Vegas, Nevada.

The CNN Republican debate is long over, the media circus is over, and the information gatherers for IBM Information on Demand 2011 are arriving en masse.

My Webcasting partner-in-crime, Scott Laningham, and I arrived here yesterday mostly without incident. We scoped out the situation, and decided that the Mandalay Bay Race and Sports Book was the perfect venue to sit down, have a burger, and watch the third game of the World Series.

Since baseball and data are going to be an underlying theme in Michael Lewis and Billy Beanes’ keynote about Moneyball later this week, it only seemed appropriate.

And though my Texas Rangers ended up taking a beating, we did witness some new data added to the baseball history books: The Cardinals’ Albert Pujols tied Babe Ruth and Reggie Jackson for the most home runs struck in one game of a World Series, the magic number three (to be precise, the Babe did it twice).

And though you may never be able to fully predict the specific outcome of a single baseball game, Billy Beane and his Oakland A’s team proved that you can use past player performance statistics to help build a better team, one that could compete with the “big money” teams.

Okay, so if past prediction can help prove future performance, where does that leave we Information On Demanders for this 2011 event?

Let’s start with the business benefit, which in these tough times are necessary for even the most profitable of enterprises.

IBM studies have demonstrated that the performance gap between those leaders and the laggards and followers is widening: Organizations that apply advanced analytics have 33% more revenue growth and 12X more profit growth.

That ought to get some executive attention.

But we’re also seeing some major shifts in the external environment. Information is exploding. We’ve now got over 1 trillion devices connected to the Internet, and we’re expecting 44X digital data growth through 2020.

And yet we’re also finding that business change is outpacing our ability to keep up with it all: 60% of CEOs agree they have more data than they can use effectively, and yet 4 out of 5 business leaders see information as a vital source of competitive advantage.

So what’s the remedy? Well, those flying in to Vegas have taken the first step, admitting they have a problem (No, not “The Hangover” type problems — you’ll have to talk to Mike Tyson about those).

No, successful organizations are turning all that data into actionable insight by taking a more structured approach through business analytics and optimization (BAO).

They’re embracing it as a transformational imperative, and demonstrating that they can improve visibility throughout the enterprise, enhance their understanding of their customers, and fostering collaborative decision-making while providing those key predictive insights and optimizing real-time decision making.

So, like a good baseball player, or manager, your job over the next several days here in Vegas is to do a few key things, and do them well.

Focus, keep your eye on the ball and on the topics most important and relevant to you.

Listen, including both in the general sessions and individual tracks, but also in those all important hallway conversations — you never know what you might learn.

Participate, particularly in the social media. We IBMers and our key partners want to hear from you, and we’re only a Tweet away. Use conference hashtag #iodgc2011 to speak up, as we’re listening in return.

Commit, to the actions coming out of the event that you think will be helpful to you and your organization, and to bring those business and technology goals into becoming a reality.

And one other thing…have fun! Whatever happens in Vegas may not stay in Vegas…it may even end up on Facebook…but that shouldn’t stop you from having a good time and learning a lot this week.

As for Scott Laningham and myself, we’ll be blogging and covering key sessions, and “livestreaming” from the Expo floor. Stop by and say hello.

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