9 CIO Tech Priorities For 2015 - InformationWeek

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1/20/2015
09:06 AM
Doug Henschen
Doug Henschen
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9 CIO Tech Priorities For 2015

What's on the agenda for CIOs this year? Top executives at last week's NRF Big Show had plenty of advice for retailers, but these tips apply to any customer-facing company.
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Address data risks.
Data governance is becoming really important, said David Massey, SVP and CIO of Bealls department stores. Customers might be willing to share data. You might have opt-ins, and be following all PCI requirements, 'but what happens if customer data is misappropriated?' asked Massey, who is a member of NRF's CIO Council.

'Your reputation may be at stake, so you have to have conversations about what risks you are willing to take with the brand,' he said. You have to ask questions like, 'Are you adding value to the shopper experience using more customer data, and at what point does it become creepy?'

Consumers say they are increasingly open to sharing social, location, and mobile information with trusted retailers, according to a recent IBM Institute for Business Value study, yet many balk when asked to opt in. Some 42% of consumers see the potential benefit of sharing their location via GPS with retailers, but only 28% are willing to do so, according to the study. In addition, 54% of consumers see the benefit of sharing mobile phone numbers for text with retailers, but only 42% would actually share this information.

Address data risks.
Data governance is becoming really important, said David Massey, SVP and CIO of Bealls department stores. Customers might be willing to share data. You might have opt-ins, and be following all PCI requirements, "but what happens if customer data is misappropriated?" asked Massey, who is a member of NRF's CIO Council.

"Your reputation may be at stake, so you have to have conversations about what risks you are willing to take with the brand," he said. You have to ask questions like, "Are you adding value to the shopper experience using more customer data, and at what point does it become creepy?"

Consumers say they are increasingly open to sharing social, location, and mobile information with trusted retailers, according to a recent IBM Institute for Business Value study, yet many balk when asked to opt in. Some 42% of consumers see the potential benefit of sharing their location via GPS with retailers, but only 28% are willing to do so, according to the study. In addition, 54% of consumers see the benefit of sharing mobile phone numbers for text with retailers, but only 42% would actually share this information.

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impactnow
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impactnow,
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1/23/2015 | 11:52:46 AM
Re: Omnichannel
I complexly agree unfortunately I have only seen a few retailers implementing the reality  of Omni channel, I still receive hard copy flyers and coupons in the mail when they have my email address and my mobile number. One retailer, Macy's recently introduced the ability to redeem coupons via your account without bringing a hard copy coupon. This should be the case for all loyalty incentives as well, if a company gives a client a loyalty incentive why do they make it so cumbersome to use? It should be directly linked to their loyalty number. Groupon has also started seamless redemption by name for some of their offers and it's very convenient especially when travelling or when your phone dies unexpectedly.
D. Henschen
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D. Henschen,
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1/22/2015 | 5:34:02 PM
Re: Omnichannel
I did include a few points on Omnichannel. The key theme I kept hearing over and over is that companies have to stop operating in silos. The channels have to be integrated and the customer insight transparent across all channels because customer journeys weave in, out and across multiple channels. Customers assume you know them no matter what channel you're in, and they're really put off when they encounter inconsistencies from channel to channel.
impactnow
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impactnow,
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1/21/2015 | 1:10:15 PM
Omnichannel

All great points to focus on, but I am curious about whether the retailers had new strategies outlined for implementing Omni channel. Did you see any great examples of Omni channel that are working well?

D. Henschen
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D. Henschen,
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1/20/2015 | 9:33:50 PM
Three points on innovation: do POCs, set asside time and budget, and set up a matrix of priorities
Personally, I like the three points of advice offered by NRF CIO Council members:

1. Do POCs in which you can gather meaningful measurement and feedback.

2. Set asside time (hackathons and co-innovation days) and money (in a separate budget) for innovation.

3. Set up a matrix of priorities, putting high-value/low-complexity projects first and sidelining low-value/high-complexity ideas.
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