Government // Enterprise Architecture
Commentary
7/19/2010
09:06 PM
Bob Evans
Bob Evans
Commentary
50%
50%

Global CIO: Oracle's Top 10 Retail Insights A Must-Read For All CIOs

The power of pervasive consumer technology is causing massive disruptions in not only retail but your business as well--are you clued in?

Like SAP, Oracle offers a range of vertical-market solutions across numerous industries to complement its horizontal apps for financials, ERP, HR, and CRM. But Oracle's first vertically oriented business unit was in retail, which has become one of the most IT-intensive and turbulent and fast-changing businesses on the planet.

And with companies in every industry now striving to engage more intimately with customers in order to gain more insights into their behaviors, buying patterns, and needs, many of the lessons Oracle's Retail Global Business Unit has learned in the past few years are applicable for CIOs and other business leaders across all industries, even those having next to nothing to do with retail.

In a recent phone interview, the head of the Oracle retail business and senior VP Duncan Angove described a range of breakthrough ideas and technologies currently turning the long-stuffy retail business into a fusion of merchandising wizardry driven by social and mobile technologies and hard-core logistics discipline enabled by standardized, deep, and robust enterprise-infrastructure software.

From that interview with Angove—who is either as animated and up-tempo a business exec as I've ever run across, or who just before getting on the phone had to guzzle a 6-pack of Red Bull as part of a retail promotion—I've extracted 10 powerful business ideas and insights that are certainly applicable in retail but that also can be applied and extended in every industry by every CIO looking to boost customer connections and financial results.

But first, to give hope to those of you who despair that your industry or company won't begin harnessing the power of IT until either the Pittsburgh Pirates win the World Series or hell freezes over (I'd bet on the latter coming first), here are two scene-setters from Angove on the state of how technology today is being viewed within the retail business:

Global CIO
Global CIOs: A Site Just For You
Visit InformationWeek's Global CIO -- our new online community and information resource for CIOs operating in the global economy.

First: "Just 10 years ago, technology was never talked about in the retail boardroom—the CIO wouldn't report to the CEO, wouldn't even have a seat on the board, and would instead report to the CFO. That totally changed—because now consumers are carrying iPhones and mobile technology into stores," Angove said. "Consumers are bringing technology into the retail environment and it is fundamentally altering the retail landscape. . . . And retailers realize that they actually need to transform because they're not going to be relevant if they don't and actually it's the only way they're going to be able to get back to a growth strategy."

And here's the second:

Previous
1 of 3
Next
Comment  | 
Print  | 
More Insights
Register for InformationWeek Newsletters
White Papers
Current Issue
InformationWeek Tech Digest, Dec. 9, 2014
Apps will make or break the tablet as a work device, but don't shortchange critical factors related to hardware, security, peripherals, and integration.
Video
Slideshows
Twitter Feed
InformationWeek Radio
Archived InformationWeek Radio
Join us for a roundup of the top stories on InformationWeek.com for the week of December 14, 2014. Be here for the show and for the incredible Friday Afternoon Conversation that runs beside the program.
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.