APAC CIO Outlook
  • Home
  • CXO Insights
  • CIO Views
  • Vendors
  • News
  • Conferences
  • Whitepapers
  • Newsletter
  • Awards
Apac
  • Agile

    Artificial Intelligence

    Aviation

    Bi and Analytics

    Big Data

    Blockchain

    Cloud

    Cyber Security

    Digital Infrastructure

    Digital Marketing

    Digital Transformation

    Digital Twin

    Drone

    Internet of Things

    Low Code No Code

    Networking

    Remote Work

    Singapore Startups

    Smart City

    Software Testing

    Startup

  • E-Commerce

    Education

    FinTech

    Healthcare

    Manufacturing

    Retail

    Travel and Hospitality

  • Dell

    Microsoft

    Salesforce

    SAP

  • Cognitive

    Compliance

    Contact Center

    Corporate Finance

    Data Center

    Data Integration

    Digital Asset Management

    Gamification

    HR Technology

    IT Service Management

    Managed Services

    Procurement

    RegTech

    Travel Retail

Menu
    • PropTech
    • Microsoft
    • Procurement
    • Managed Services
    • Cyber Security
    • Gamification
    • Blockchain
    • CRM
    • Software Testing
    • E-Commerce
    • Low Code No Code
    • MORE
    #

    Apac CIO Outlook Weekly Brief

    ×

    Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Apac CIO Outlook

    Subscribe

    loading

    THANK YOU FOR SUBSCRIBING

    • Home
    • PropTech
    Editor's Pick (1 - 4 of 8)
    left
    IP - Powering the Future

    Robert Bollard, CIO and General Manager Innovation & Technology Group, IP Australia

    Proptech: Why It's All About the Customer

    Mark Hansen, Chief Information Officer, DEXUS [ASX: DXS]

    The Rise Of Data in The Infrastructure Sector

    Dan Kieny, SVP/CIO, Black & Veatch

    Know Your Rights Before Buying a Residential Unit in a Mixed-use Project

    Florian Maier, Managing Director, Antares Group

    Emerging Technologies Are Turning Proptech Upside Down and Inside Out

    Stan Fung, Managing Director, Drum Tower Ventures

    Australian Property: The Exception or The Rule?

    Paul Gambles, Managing Partner, MBMG Group

    PropTech's Growing Impact on Real-Estate

    Linda Rudd, Partner and Head of Asset Management Services, Knight Frank Australia

    Trends in Design and Construction

    Patrick Keane, Director, Enter Projects

    right

    Extolling the Value of Big Data

    Bertrand Chen, Data Scientist, Asia Miles

    Tweet
    content-image

    Bertrand Chen, Data Scientist, Asia Miles

    It all started on a flight in 1953.

    Blair Smith, an executive from IBM, sat next to C.R. Smith, then CEO of American Airlines. Besides sharing the same last name, they were both trying to solve a business challenge. The airline industry needed a reservation system to cope with the explosive growth of passengers’ volume. Thus SABRE reservation system was born. This was the first real time application for mainframe computers. It is hard to imagine now but airlines were once a hot bed for digital innovations.

    We live in a world dominated by Google and Facebook. Users’ attention is sliced into micro-moments sold to the highest bidders on ad exchanges. We are in the business of courting customers’ attention. Your future is determined by the data you collect and your proficiency at maximizing its value. If Blair Smith were on that flight now, he would be extolling the value of Big Data. But there are three pitfalls that C.R. Smith would need to be aware of.

    Firstly there is usually an unrealistically high expectation from data. Given the large amount invested, one is expecting a panacea. In building customer loyalty for sustainable business growth, developing a modern data warehouse is merely the first step. Without having specific objectives, you could just be building another highway to nowhere. Extracting a single view of customers is not enough. One needs a customer lifetime value to make business decisions.

    Secondly there is an archaic separation of roles. Traditionally, Analytics was pegged as a support function. Business units asked questions and analytics provided answers. This however is not the case anymore. Analytics now works with marketing to decide the most effective and efficient communication channel as well as the timing of the communication. Together both functions leverage the data infrastructure and truly personalize the customer experience to optimize user engagement and thus maximize long term profit.

    Lastly there is a difficulty in hiring the Talent. There has been much hype surrounding the field of Data Science but nobody has a clear idea on who its practitioners are. Are they software engineers, statisticians, machine learning experts? The only agreement is that they need to have domain expertise and be able to explain complex concepts.

    Such Data Scientists are rare and probably would never step outside of Silicon Valley or Alley.

    The only solution is then to build a diverse team. Even if no one  possesses all the requisite skills, the collective knowledge of a team would cover all the requirements. One could also include in the team someone with business knowledge and deep domain expertise who can guide the team towards projects that would yield the biggest dividends.

    If C.R. Smith were to grasp those three pitfalls, he would see the tremendous opportunity in front of him.                 

    By harnessing the technological changes unleashed by Google and Facebook, the Loyalty business could dominate the marketplace.

    This is just the beginning.

    tag

    Big Data

    Machine Learning

    Customer Experience

    Data Warehouse

    Weekly Brief

    loading
    Top 10 Proptech Solution Companies - 2020

    Featured Vendors

    ZWEISPACE Japan

    Hayato Kameta, CEO

    AES Technologies

    Henry Tan, Founder

    ON THE DECK

    PropTech 2020

    Top Vendors

    PropTech 2019

    Top Vendors

    Previous Next

    I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info

    Read Also

    A dose of our own medicine

    A dose of our own medicine

    SABINA JANSTROM, IT DIRECTOR, DYNO NOBEL
    Insider Threat

    Insider Threat

    AI is America's best weapon for disrupting health inequities

    AI is America's best weapon for disrupting health inequities

    Michael Dowling, President & Ceo, Northwell Health and Tom Manning, Chairman, Ascertain
    Combating IoT Challenges with Smart Choices

    Combating IoT Challenges with Smart Choices

    Sandeep Babbar, Head Of Technology Innovation, Gwa Group Limited
    Artificial Intelligence regulations and its impact on medical devices

    Artificial Intelligence regulations and its impact on medical devices

    Leo Hovestadt, Director Quality Assurance Elekta
    Blockchain: promises to revolutionise superapps and the trust factor in insurance

    Blockchain: promises to revolutionise superapps and the trust factor in insurance

    Sue Coulter, Head of Group Digital, AIA Group Julian Lo, Director of Digital Engineering, AIA Group
    Data as a Business

    Data as a Business

    Ricardo Leite Raposo, Director of Data & Analytics at B3
    How Digital Transformation Impacts Big Data Analytics

    How Digital Transformation Impacts Big Data Analytics

    Davide Di Blasi, Global Quality and Lean Director , Hilding Anders International
    Loading...

    Copyright © 2023 APAC CIOoutlook. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Use and Privacy and Anti Spam Policy 

    |  Sitemap |  Subscribe |   About us

    follow on linkedinfollow on twitter follow on rss
    This content is copyright protected

    However, if you would like to share the information in this article, you may use the link below:

    https://proptech.apacciooutlook.com/cxoinsights/extolling-the-value-of-big-data-nwid-2940.html