"Companies in the digital space have to learn how not to be victims," said Pereyra.
Like the telecoms. Once upon a time, the telecoms owned the directory business. It was a nice little business. Everyone was happy. Then along came the Internet, and the telecoms got disintermediated. The directory business started moving online and the migration continues.
Pereyra pointed to a service called Walk Score, that provides consumers with Yellow Pages-style local business listings in conjunction with maps of businesses within walking distance.
The telecoms could have been in that business had they been more nimble. But they're far from nimble. It takes telecoms nine months on average to set up a new product for consumers. The problem, as Pereyra sees it, is that the back-end systems at these companies just aren't up to the task.
"That's just not scalable and that's not the way they're going to survive," said Pereyra.
Conveniently, Oracles sells business support systems (BSS) and operations support systems (OSS) for media, entertainment, and marketing companies, software that enables "complete value chain management."
Pereyra discussed how Orange, a mobile service provider in the United Kingdom, and MTV did a deal that allowed Orange to sell music services to its customers. Orange used Oracle's billing and revenue management software to pay MTV in real time, he said, rather than six months later, as is common. The rollout was quicker and Orange and MTV were happy with the results.
Pereyra also cited the successes that Dow Jones has had under News Corp. "They're a great example of a company that has figured out how to stop being a victim."
Social is a Business ImperativeThe use of social media for a host of business purposes is rising. Indeed, social is quickly moving from cutting edge to business basic. Organizations that have so far ignored social - either because they thought it was a passing fad or just didnít have the resources to properly evaluate potential use cases and products - must start giving it serious consideration.
Social is a Business ImperativeSocial media is critical in the age of digital business. How can IT help? First, work with the marketing team to set up social networking programs on Facebook, Twitter, and LinkedIn, at minimum. Then work to put social media sentiment analytics in place to measure success.
Top IT Trends to Watch in Financial ServicesIT pros at banks, investment houses, insurance companies, and other financial services organizations are focused on a range of issues, from peer-to-peer lending to cybersecurity to performance, agility, and compliance. It all matters.
Join us for a roundup of the top stories on InformationWeek.com for the week of September 18, 2016. We'll be talking with the InformationWeek.com editors and correspondents who brought you the top stories of the week to get the "story behind the story."