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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SachinEE
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SachinEE,
User Rank: Ninja
1/20/2015 | 1:59:08 PM
Trying to hit two birds with one stone
Adressing data risks and at the same time taking advantage of anonymous information without crossing a few boundaries isn't easy as it sounds. The common user is already skeptical about whether to trust the IOT because of all the cloud hacks happening around. 
SunitaT0
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SunitaT0,
User Rank: Ninja
1/23/2015 | 10:23:07 PM
Re: Trying to hit two birds with one stone
"Adressing data risks and at the same time taking advantage of anonymous information without crossing a few boundaries isn't easy as it sounds."

Not easy, but it can be solved. What are data scientists for then? Data risks can be solved with better security in cloud, and cloud security is a hot topic in many firms still: the reason being that cloud security is still loosely based on network security, with a centralized approach, which shouldn't be the case in my opinion.
yalanand
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yalanand,
User Rank: Ninja
1/24/2015 | 9:59:55 PM
Re: Trying to hit two birds with one stone
"Adressing data risks and at the same time taking advantage of anonymous information without crossing a few boundaries isn't easy as it sounds."

Of course it isn't easy, but again, it should be, if it was then hackers would have the leading edge in cracking down anything we put up. However the materials and infrastructure:both technical and managerial needs to be present. I think your "difficulty" lies there.  
SachinEE
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SachinEE,
User Rank: Ninja
1/20/2015 | 2:18:06 PM
Customer Satisfaction
Chico's really did a great job in reeling in the confidence of customers. Having the ability to choose from a range of technical attachments with your IOT without having to compromise on the facility is a great thing. If customers feel powerful, then they'll have more confidence.
D. Henschen
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D. Henschen,
User Rank: Author
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.
impactnow
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impactnow,
User Rank: Author
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,
User Rank: Author
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,
User Rank: Author
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.
SunitaT0
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SunitaT0,
User Rank: Ninja
1/23/2015 | 10:30:44 PM
Consumer as Chief Strategic Officer

An Omni-Personal approach begins by putting the customer at the core of your business thinking, before you even start mapping out channels. This means making the unrelenting pursuit of consumer insights paramount to the organization. The exercise begins at the very top, with CEOs and other C-level executives pushing for and demanding stronger consumer findings at all points in the consumer journey. This insights gathering initiative should be lead by research and innovation but should be truly cross-functional, with all different teams asking the important question: what does the consumer want and need?
yalanand
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yalanand,
User Rank: Ninja
1/24/2015 | 9:57:22 PM
Re: Consumer as Chief Strategic Officer
@SunitaT0: I like this kind of an Omni-Channel presentation, I might have to take up on your idea and present it to our boss. If you think about it, CEO as a consumer makes perfect sense. He can tell what the omni channel needs and is missing. 
yalanand
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yalanand,
User Rank: Ninja
1/24/2015 | 10:03:04 PM
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. "

@impactnow: IOT is going to solve all that. For example, your home appliance IOTs will be able to select groceries for you and other kind of things you might need, and then send a ping to your smartphone at the exact moment you cross a grocery or a hardware store, which would then be content marketing if the hardware store or the grocery store uses omni channel technology.
IMjustinkern
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IMjustinkern,
User Rank: Strategist
1/28/2015 | 4:59:50 PM
PCI 3?
Any of the chatter hit on expectations (or inability to hit expectations) with PCI DSS 3.0? Seems pressing for retailers small and large. Also wondering, seeing as so many have had breaches/leaks even with PCI compliance, if some are saying the hell with it.
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