Traditional psychology and the pursuit of customer value
Agile teams aspiring to deliver value to their customer earlier and more regularly rely on successful product ownership. This comes largely from the team member whom the organisation has empowered to represent the customer whilst defining requirements, prioritising deliverables and managing evolving business needs.
The bright smile of destiny has shone upon the United Kingdom in quite dramatic circumstances. And as a result, the vote to leave the European Union in June opens up a massive opportunity for the financial services business in the City of London to reinvigorate itself.
There is a lot of hype around blockchain technology. Yet, it has no live, large scale implementations within the financial services sector. The fact remains that blockchain holds great potential in transforming the way we do business.
Customer centricity is a trending topic for many industries. Market analysts view this as being critical to ensuring business survival and not just an approach to achieve some competitive advantage. But what is true customer centricity and what makes one business more customer-centric than another? The answer to this hinges on the extent to which a retailer has aligned its business model and operations to the wants and needs of the consumer.
Agility in decision-making processes is the buzzword in the ever-changing and dynamic business environment. In my view, businesses want to act and improve their decision-making in real time. One of the important factors to bring agility to business decisions is to have effective, actionable insights on information available to business in days or weeks and not in months or years.
The single view of the customer continues to be the nirvana that banks strive towards. But, this outlook comes in different forms depending on who you are talking to. Whether that be wanting an integrated view of the customer’s product holdings with their bank, or a broader understanding of the customer’s channel interactions (omni-customer), or a combination of them all.
Retail businesses are desperate to realise greater value and insight from data. More data is available through significant system investments, such as in ERP, system upgrades and network integration, however digital value derived from these systems is often limited. The move to being a more agile, digitally enabled enterprise can create challenges of a different nature, where visibility is actually reduced and functions are disconnected with limited interpretation of events.
If a picture paints a thousand words, then a great visualisation paints a thousand numbers.