ACCTMIS 4670 Exam 3

*Pyramid

Insight: What the CEO wants (top) Knowledge: IT has worked hard to extrapolate this Information: Most IT systems are only aimed at this Data: We have lots on this (bottom)

*Key Difference

Invention is the conversion of cash to ideas Innovation is the conversion of ideas into cash

Analytics Base Level Take Away

"Next" will be different from "Now"

2. Analytics Expands Across the Enterprise

*Emergence of the Insight Driven Organization (IDO) - Requires scaling small, current analytics initiatives up to the enterprise level Shaping an IDO future with today's decisions The Way Forward: - *Take existing analytics initiatives and scale them to the enterprise level - Goal: Grow and connect analytics capabilities across the enterprise

*So, What Can We/You Expect With Regard to Global Influences?

- A re-definition of "relationships" on a global scale - An emphasis on mass personalization - A deeper reliance on technology innovation - An increase on collective intelligence - Labor arbitrage - Evolving educational models - A continuous "lights on" world - A leveling of global power

*Must Have Skills for IT Professionals Going Forward

- Ability to know minds, as well as how to change them - Being able to grow and mentor IT talent - Being able to innovate, and create new products and services - Ability to responsibly manage customer information - Being able to manage technology linearities - Knowing and being able to implement cost accounting

*Must Have's (cont.)

- Being globally aware and globally effective - Being adept at storytelling and other forms of effective verbal communication - Being able to enable collaboration across the enterprise - Delivering tools that enable foresight and insight - Understanding what's needed for regulatory compliance - Having a grasp of packaging and sourcing work - Be fully cognizant of (and conversant in) information security

*10 Principles of a Successful Analytics Strategy

- Clear linkage from data -> info -> insight -> action -> value - Leverage current investments - Understand initiatives that are both important drivers and enables (loyalty) - Make efficient and appropriate use of both internal and external data - Invest in flexible and sustainable partnerships - Identify and execute small wins (quick hits) for continuous value delivery - Establish an analytics "community of practice" - Focus on delivery to the "believers" to convert the "skeptics" - "Lean into" the skeptics, understand their perspectives, and empathize as a key element of their engagement - Pay careful attention to people, relationships, and experience

*Steps to a Successful Transformation

- Create a real sense of urgency - Form a powerful guiding coalition - Create compelling vision - Effectively (and continuously) communicate the vision - Empower others to act on the vision - Plan for and create short-term wins - Consolidate improvements and keep producing more change - Institutionalize new innovative approaches

*In Summary, Brand Characteristics Include

- Delivery of a clear message - Confirming of your credibility - Connecting to your target prospects on a personal or emotional basis - Motivating the customer or buyer - Creating concrete user loyalty

*You Have "Finally Arrived" In the World of Analytics When...

- Sophisticated analytical systems have wide deployment - Senior execs. drive culture top-down - Fact-based decision making is central part of culture - Recruit and select for analytical skills - Analytics managed at enterprise level - Metrics even extend to proprietary level - Share insights w/customers and suppliers - Create and operate an "Innovate and Learn" culture - You have been building and refining this capability for years - Make your quantitative capabilities part of your company's brand

*Some Best Practice Suggestions Regarding Global Governance

- Try to secure and maintain local HR expertise - Maintain job grade consistency across regions - Manage dispersed staff as portfolio teams, as opposed to having a single function team spread across regions - Keep the work meaningful (e.g., centers of excellence) - Make sure the roles of remote groups are clearly defined - Rotate! Bring remote members to HQ periodically - Foster effective communications across regional boundaries (...whether in person or via effective tools)

*What makes a good brand?

- Very targeted - Clear - Meaningful (...Experiences Match Expectations) - Consistent - Recognizable - Actionable

*The Three Key Attributes Among Analytics Competitors Will Be...

- Widespread use of predictive modeling, experimentation, and optimization embedded with the corporate DNA - An enterprise-level approach to discovery, testing of hypotheses and shared "knowing" - Senior executive advocates leading the journey

*What Does All of That Mean?

1. "Good management" is actually a root cause of the most severe problems with innovation 2. Listening too closely to customers is a root cause of innovation stagnation 3. Success breeds failure via failing to address growth problems 4. Vertical integration precipitates vertical disintegration

Your Big Focus Areas

1. Begin to better understand the business (first 30) 2. Understand what the business expects of you (first 30) 3. Assess what you have to work with (second 30) 4. Begin to make your associated plans (third 30) 5. Communicate to all parties affected or involved (third 30) 6. Get busy!! (third 30)

Every Future has Three Elements

1. Change that is a predictable linear extrapolation of the world we live in today (trends) 2. The "Oh S___!"/"Ah Hah" changes that just happen to you (wild cards) 3. The change we create (dreams)

*Active Experimentation is All About...

1. Collecting/organizing data to extract info and insight from it. This is what Big Data has to offer. Most valuable output from such data analytics will be our hypotheses 2. Then taking hypotheses and quickly/effectively testing them to discover cause-and-effect relationships 3. Then applying targeted data and proven test results to further create better customer experiences. It's not just making the same experience better for everyone. Instead delivering more specialized experiences to many different customer segments, and thus becoming more competitive This is the key to knowing, versus simply thinking that you do.

*A Possible Model for Management By Influence

1. Develop Recognized Competency 2. Brand Yourself as Thinking 3. Be Able to Engage Essential Resources and Manage Conflict 4. Always Act Cooperatively 5. Brand Yourself also as Driving for "Best-for-the-Business" Decision Making 6. Prepare/Follow an Operational Plan for Personal Consistency

*Emotional and Social Competency Inventory

1. Empathy 2. Attunement 3. Organizational Awareness 4. Influence 5. Developing Others 6. Inspiration 7. Teamwork

*Remember Your Over-Arching Mission?

1. Help to shape enterprise demand 2. Set expectations appropriately and effectively 3. Consistent and dependable execution 4. Lead through influence

*Ask Yourself These Questions

1. How would I define my business/myself/my value in one or two sentences? 2. Who is my primary target audience? - What do I know about them? - What problem/issue/need to they want solved? - How do I want them to see me? 3. Who do I compete with? 4. What do I offer that no one else is offering?

*Global Convergence of IT is Leading to...

1. Improved collective thinking and learning 2. Urgencies over improved access 3. Lingering controversies over control and censorship 4. A spiking level of innovation 5. An enhanced awareness of the plight of others, and the humanity that comes of it, ... BUT 6. A new sense of the possible

*The Technology Adoption Life Cycle

1. Innovators 2. Early Adopters *Chasm* 3. Early Majority 4. Later Majority 5. Laggards

*Many IT Leaders Are Now Moving Forward Via a "Makes Sense" Plan of Action That Focuses On...

1. Learn by doing... vs. learn by watching 2. Seeking strategic connections with what you learned 3. Define clear objectives for your social business strategy 4. Mitigate your risks 5. Combine engaging content with excitement and buzz 6. Assess, Modify, Repeat 7. Taking lessons from the dot.com wave

*Making a Connection Based on Need

1. Need for recognition and process involvement 2. Need for vertical support structure to overcome technophobia 3. Need for well-defined purpose or reason 4. Need for ease of use and low risk of failure 5. Need for institutional/administrative advocacy and commitment *There is a need for advocacy to occur if the conditions and activities can be such that adoption by the early and late majorities and laggards can succeed

*Things to remember from presentation

1. Overall scope of opportunities here 2. Differences b/w social media and social business 3. Categories of social platforms and how they are different 4. Stages of social business maturity, as well as how they differ *5. What you as future leaders must work to affect within your future enterprise's progress in this space

*Focusing on "Emotional Intelligence"

1. Self-awareness 2. Self-regulation 3. Motivation 4. Empathy 5. Social skill

*The Six Pillars of Social Business Success...

1. Strategic Intention 2. Operational Alignment 3. Staffing 4. Tool Use 5. Governance 6. Organizational Readiness

*Simplifying Analytics - Gartner Model

Descriptive: What happened? Diagnostic: Why did it happen? Predictive: What will happen? Prescriptive: What should we do?

*Four Domains of the Future IT

1. Technology Infrastructure and Service 2. Information Design and Management 3. Process Design and Management 4. Relationship and Sourcing Management

6 Current Trends Setting the Stage

1. The Man-Machine Dichotomy Blurs 2. Analytics Expands Across the Enterprise 3. Cybersecurity: A Good Defense Isn't Enough 4. The Internet of Things - and People, too 5. Companies Bridge the Talent Gap 6. Business Borrows From the Sciences

*The CIO's Building Blocks For Success In Moving Forward Include...

1. The Right Focus - Directing toward activities that will yield highest reward 2. The Right Culture - A new respect for fact-based decision making 3. The Right People - This means a new future-based skillset and structure 4. The Right Technology - Do you have the computing horsepower and specific technologies to feed the analytics engine?

*3 Factors Influence Technology Adoption

1. The individual decision to acquire it, 2. The individual decision to adapt/make use of it and 3. The rate at which it diffuses through its user and/or adopter base, by either promotion or by word-of-mouth****

People Politics Global Influence Leadership

11/16/18

Steve Gruetter Slides

11/19/18

Intro to Analytics

11/2/18

Influencing Technology Adoption

11/26/18

First 90 Days

11/30/18

Managing Innovation

11/30/18

Dave Cherry Presentation

11/5/18

Social and Mobile

11/7/18

IT Branding, Marketing, and Influence

11/9/18

The Future of IT

12/3/18

*Things That Interfere With Innovation

A "Silo Mentality" A "Blame Culture" Creating a cumbersome bureaucracy Parochial thinking

*Key Point #2 (Analytics)

Analytics Evolve on a Continuum Descriptive Analytics: - What happened? - How many, how often, where? - Where exactly is the problem? - What actions are needed? Predictive Analytics: - Why is this happening? - What if these trends continue? Prescriptive Analytics: - What will happen next? - What's the best that can happen?

*Some of the Challenges of Going Global

Battle for Control - who is best positioned to lead your IT organization if there are several CIOs? Technology Challenges - there will always be exceptions to global technology standards Cultural Issues: - must have a global IT leader who is a strong communicator Geopolitical Issues: - orgs must develop a competency within IT to evaluate the risks and opportunities of expanding into certain geographies

4. Internet of Things - and People, Too

Beyond Gadgetry - Spawning new business models and learning new ways to influence behaviors A New Source of Innovation The Way Forward: - Build on existing infrastructure *The worldwide IoT market is expected to grow in 2014 to $1.7T in 2020

Technology Adoption

Both the actual acquisition and eventual utilization of a technological product

*How do you market dreams?

By knowing and touching the customer's dreams By connecting via the art of telling stories By promoting their dream, not your product By building your brand around their dream By building the "Buzz", the "Hype", the "Cult"

*Now the New Marketing's "4 'C's"

Communications Customization Collaboration Clairvoyance We can no longer dictate (or "push") terms to our customers

*What is Business Analytics?

Continuous iterative exploration and study of past business performance to gain insight and drive future business planning Differs from Business Intelligence (BI); BI traditionally focuses on using a consistent set of metrics to both measure past performance and guide business planning Business Analytics instead focuses on developing new insights and understanding from the data that is collected **It's about discovery vs. validation

*Why Some Companies Might Lag in Analytics

Data Skills Tools Silo Mentality Leadership not on board Don't know where to go

*Politics

Delivering Benefits Sometimes speaking the words that the occasion requires Tone Know what you have to trade "For Us" or "With us"

*Continuum Phase Descriptions

Descriptive Analytics: - Simplest class of analytics; condenses big data into smaller, more useful nuggets of info - Similar to Business Intelligence which summarizes what happened Predictive Analytics: - Utilizes variety of statistical, modeling, data mining, and machine learning techniques in studying historical data to make probabilistic predictions about the future - Purpose is NOT to tell you what WILL happen in the future, but instead will forecast what MIGHT happen in the future Prescriptive Analytics: - Goes beyond descriptive and predictive models by recommending one or more resulting courses of action - and showing likely outcome of each decision based upon decision maker's actions taken

*Preparing to Transform

Differentiation is based upon being able to extract and apply "Core" resources for such transformational initiatives from the ongoing mission-critical "Context" initiatives within mature markets

6. Business Borrows from the Sciences

Discipline of analytics isn't new Techniques developed for scientific purposes hold significant potential for addressing business challenges

*Ultimate New Question for the Future

Do we think this is true? ...or do we know it is?

*Key to Knowing Will Hinge on Valuing Active Experimentation

Experimentation needs to test the validity of our hypotheses, vs. trying to prove the validity of our hypotheses "What can I discover?" vs. "How much I confirm?"

*Third Point of Consideration

Governance - global IT leader's most common challenge is the managing global virtual teams - a one size fits all model is simply unworkable

1. The Man-Machine Dichotomy Blurs

Humans and machines will find new ways to complement one another Humans will perform roles that computers can't - such as those involving creativity, caring, or empathy *1B in venture capital funding for cognitive technologies in 2014 & 2015

*Global Legal Gotcha's

Labor Relations Privacy Procurement Documentation Taxes Legal Systems Fractured Worldview

Lion-Chipmunk-Antelope Theory

Leaders must focus on large changes Lions cannot hunt chipmunks; they will starve to death They must hunt antelopes to stay alive Define the antelopes, and don't get distracted by the chipmunks

*Know and Practice the Six Laws of Persuasion

Liking Reciprocity Social Proof Consistency Authority Scarcity

*Bottom Line - Your Messaging Needs to be Relevant to Different Customers

Meaningful & Personal

*First Point of Consideration to Respond to these Challenges

People and Cultures - mental models - things are different depending on the country

3. Cybersecurity: A Good Defense Isn't Enough

Persistent and Evolving Leaders are taking steps to become proactive not reactive *U.S. federal gov agencies alone will have spent more than $14.5B

*Marketing's Traditional "4 'P's"

Price Product Placement Promotion ...Which was really about "Push"

*Innovation Can Happen in Different Ways

Product & Process Innovation Open & Closed Innovation Incremental & Radical Innovation Modular & Architectural Innovation

*5 Major "New Knowledge" Sets Define Leadership Excellence

Self-Knowledge Others Knowledge [Empathy] Environmental Knowledge [Sensemaking] Movement Knowledge [Vision - where are we going] Value Knowledge [Innovation - where is there money to be made and mission value to be delivered]

*Data Science Competencies Framework

Slide 16

*Maturity Model

Slide 19 Stage 1: Familiar Stage 2: Present Stage 3: Enabled Stage 4: Integrated

*Where are we really within our current state?

Slide 20 None Limited Moderate Healthy Robust

*Going From Occasional One-Way to Real-Time Two-Way...

Slide 33 Diagram Market Research New Product Development Customer Interactions Brand Positioning Targeting Creatives

*Important Definitions

Social Media: The spaces where we interact with one another over the web, including public, private, and semi-private spaces defined within, and by certain contexts Social Media Marketing: The use of social media spaces for marketing Social Business: Using the elements above to enable more efficient, effective, and net-new connections b/w people, information, and assets to drive business decisions, action, and outcome across the enterprise

*Dave's Stages of Analytics Maturity

Stage 1: Analytical Impaired - "Not data-drive". Rely on gut feel and plan to keep doing so. Not asking analytics q's and/or lacks data to answer them Stage 2: Localized Analytics - "Use reporting". Use of analytics or reporting functional or business silos Stage 3: Analytical Aspirations - "See the value of analytics". Struggle to mobilize the organization and become more analytical Stage 4: Analytical Companies - "Good at Analytics". Highly data oriented, have analytical tools, and make wide use of analytics. Lack commitment to fully compete or use strategically. Stage 5: Analytical Competitors - "Analytical Nirvana". Use analytics across the enterprise as a competitive differentiator and in strategy

*IT Adoption Moves Through Definable Stages

Stage 1: Initiation Stage 2: Contagion Stage 3: Control Stage 4: Maturity IT develops in stages Each stage is a prerequisite to the future stage

*Sixth Point of Consideration

The Global Convergence of IT

*Second Point of Consideration

The Information Resource - The defining reality of this second decade of the third millennium is more information

*Fifth Point of Consideration

The Legalities

*Fourth Point of Consideration

The Talent Pool - In the near term, companies will increasingly hire talent no matter where that taken resides and then struggle to coordinate and manage the virtual workplace

5. Companies Bridge the Talent Gap

The business world is coming to terms with the fact that the supply of data scientists (& others with related skills) can't keep up with demand The Way Forward: - Recruitment - The talent ecosystem

*One of the most significant areas of de-synchronization

The disconnect between our ability to create, collect, and store data and our capability to then thoroughly process and exploit it

*Key Point #1 (Analytics)

The expectations of what Big Data will deliver on its own, especially in short-term, can often be massively overblown Data is not the same as information, which is not the same as knowledge, which is not the same as insight

*Remember in Shaping Mental Models

The fundamental messages of brand are... - Who are we? - What's our story? - What's the dream? - Exactly how are we dramatically different?

How do you prioritize and achieve value?

The goal is to turn data into information, and information into insight The value of an idea lies in the using of it Without action, insights are nothing more than interesting

*Key Point #3 (Analytics)

The revolution is that it's not about the data - it's about becoming data-driven - This will lead to changes in org behavior and culture Means that winners will be able to create organizations in which it is simply expected to be able to confidently experiment, innovate, and adapt on a broad scale

*Info Arsenal

Three factors affect what an organization can and cannot do - Resources - Processes - Values

*Defining Innovation Point

Three phases of technological change: - Invention: creating the idea behind a change in the production process - Innovation: implementing that idea in the market environment for the first time - Dispersion: the spread of implementation to sites beyond the original one

*Pizza Slide

Traditional On-Premises - Customer managed - Higher user cost - Higher user controllable range Infrastructure as a Service (IaaS) - More customer managed than vendor Platform as a Service (PaaS) - More vendor managed than customer Software as a Service (SaaS) - Vendor Managed - Lower user cost - Lower user controllable range

*The Response to Social Media Risk

Understand who you are in the new mental model - Predators vs. Prey - Social media tends to equalize big and small fish Assure clear and direct use policies are in place - Check out examples in other companies Scenario plan around all perceived vulnerabilities Implement a credible vigilance program - Educate people on how to recognize and appropriately respond to potential risk situations - Proactively educate, and then harness collective thinking Put the right people in the right places

*Adoption is All About Influence, Which is Based On...

Understanding IT's role within the org Mental models are they key to how people form opinions and perspectives To manage mental models you have to: - Know what others currently think - Know what you want them to think - Create a program to bridge the gap That starts by bringing the future to the present Thus, "Futuring" starts with "Visioning" - Creating purpose - Making it meaningful and personal

The Cloud

What is it? - A delivery system that allows you to access the data and the apps how you want to (someone else's infrastructure) What is attractive about it? - Agility, availability, cost control, risk mitigation What types of cloud are there? - Public, Hybrid, Private, Multi-Cloud What types of cloud service platforms are there? - Software as a Service (SaaS) - Platform as a Service (PaaS) - Infrastructure as a Service (IaaS)

*The Chemistry of Stress

When people are under stress, surges in the hormones adrenaline and cortisol strongly affect their reasoning and cognition

*Four Major "New Knows"

Where are we? Where do we want to go? [i.e., what are our options - strategically?] How do we get there? [i.e., what are our options - tactically?] How do we convince the enterprise to make the trip?

*The Unfortunate Rub...

Which 65.8% of US companies with 100+ employees use Twitter for marketing... More than 50% of organizations still do not differentiate social media marketing from social business

What do executives buy?

You Build trust and credibility Build a good relationship Good collateral in absence of good people is useless. You need both!

*Strength Depends First On Focus

Your strongest analytic opportunities include quantitative areas like: - Supply Chain - Customer Selection/Loyalty/Service - Pricing - Human Capital & Resources - Quality of Products & Services - Financial Performance - R&D