Quantify the business value of Information Governance Solutions
Per dictionary.com in·no·va·tion
1.something new or different introduced
2.the act of innovating; introduction of new things or methods
In our strive for continuous excellence, many of us are innovating at an everyday level. Per current thinking, Innovation can be incremental and emergent or may refer to radical and revolutionary changes in thinking, products, processes, or organizations. IBM encourages each and every one of its employees to innovate and introduce new methods and thinking to influence and impact our work and clients continuously. This deinitely adds a dimension and challenge to everyday routines and makes working at IBM an absolute joy. I recently came across this video of Umair Haque speaking at the BRITE '09 Conference. Umair Haque is the director of the Havas Media Lab and he discusses why firms looking to innovate should start by reconceiving the costs and benefits that shape the behavior of their consumers.
Very interesting ... well worth the 20 minutes if you can spare.
MeenuAgarwal 270001U67K Tags:  facebook twitter social brand marketing platform media 1,953 Views
Whats top of mind today? Social Media - the flavor of the year or here to stay? Let's explore in a few posts.
Social media is a big part of today and an even bigger part of the tomorrow of online marketing. It lends itself to helping you build an online reputation, and done right, it is a great way to build presence and status. The caveat, of course, being that it is also a great way to ruin your reputation, have other users cast you as a spammer and force some very bad press onto your brand. Regardless, the important thing to remember is that you are dealing with “real people” here and not search algorithms! Real people are interacting with you in their “social” time - so you will have to get accustomed to relating with the personalities, their opinions and their likes and dislikes that will be shared with the world and for all to see. Gulp, as you can imagine, this can be quite daunting. The key therefore, is that you should get used to dealing with their personalities, their tastes and their uncensored opinions.
Rule Number 1: Keep it honest, and absolutely transparent. Transparency is critical in this era of online marketing with social media.
Facebook has a staggering 850 million users today (as
of Dec 2011). The number is definitely mind boggling. To leverage facebook’s
population to improve your brand, and create a presence is not just for online
marketing. It has become a vital part of the business world today. An
interesting topic of discussion is the value of acquiring a new “facebook”
user. For all practical purposes, the value is determined by you, the brand.
But, in reality, if you do not have facebook user following on your fan page,
the risk of the non-presence on facebook can be extremely harmful and
detrimental to your brand image and business overall. This fear is what is
driving all/most businesses to jump on the bandwagon with
no-business-left-behind scenario. What’s more, there are desperate measures
being applied by businesses out there using companies such as
buybulkfacebookfans or similar that help you acquire “seemingly real” fans to
drive the number of fans up, for as little as $50 (500 fans). We question the
value of acquiring these fans. We believe that you should focus on acquiring
“genuine” fans interested in your brand. Fans that interact with you because they
are truly interested in you and your brand. Fans that give you insights and help
you drive your business. Fans that have longevity and will help you leverage
facebook to acquire more fans.There are a variety of tools that can really help you engage with your fans. One such Social Marketing Platform is ZynQo. ZynQo very quickly and easily helps you launch a campaign on facebook or twitter using their pre-defined templates. You can completely brand the campaign using your own imagery and colors with stylesheets. Definitely has the cool factor. There are many other products on the market today that can help you engage with your fans and followers. There are several resources for you to follow on twitter example @marismith @guykawasaki amongst some respected names. And then there is a wealth of social optimization information on Seomoz - best practices, tips and tricks that can get you started and keep you going at full speed, Great content, Great resources!
We recently discussed quantifying the “value” of a
facebook fan, with a large bookstore. This bookstore is using their facebook
fan page in, what we consider, an extremely savvy and interesting way. Primarily
used to draw insights into what their facebook fans want to read with specific
emphasis on authors and titles in specific locations/geographies. This is
followed by stocking books based on demographics/geography in the local bookstores.
The value of a facebook fan to them is quite high. Their goal is to reach a
million facebook fans quickly and at their headquarters, a ticker, similar to a
stock ticker, at reception greets all staff displaying the number of facebook
fans “today”. The stock ticker symbol
from the dotcom boom has been replaced with the facebook acquired fan number(s).
Go figure. Now, there is a customer case study for you.
Another retail business is using facebook to ensure
stocking levels of inventory such as clothes, make-up and shoes is driven by
the fan based inputs in specific under-performing locations/geographies. The
belief is that by stocking the appropriate and desired inventory levels, the
sales and markdowns would be highly reduced thereby improving profitability.
There are countless case studies of businesses leveraging facebook pages to
gain insights into consumer behavior.
Incenting People to follow you on facebook is like a no-brainer. Most businesses are doing it today with freebies and “value” adds to drive followership. Again, social marketing platform for facebook and social marketing platform for twitter are both a required part of your Everyday toolset!
In the Next Post, we will look at "How to Analyze" because NUMBERS DON'T LIE!!
Join the Information Maturity Model workshop on March 22-23 in Asheville, North Carolina. If you can't make it in person, you can join virtually. Here is a link to the program and dial-in details from Adler on Data Governance
Treat your data as an enterprise asset ... and so the journey begins -- expertly put together by none other than Sunil Soares, Director, Information Governance at IBM. Sunil's book "The IBM Data Governance Unified Process" driving business value with IBM Software and Best Practices is a "cookbook" (as he likes to call it) and an Information Governance Practitioners trusted guide and handbook. Must read for all organizations embarking or considering the Information Governance journey. Organizations implementing a Data Governance Initiative or even ones restarting the program will derive great value and benefit from the process, best practices and use cases illustrated in the book. Great Introduction by Arvind Krishna and Steve Adler ending with "the clock is ticking" tick tock tick tock ..... I had the pleasure of listening to Sunil speak at a session in Parsippany, NJ last night. Sunil highlighted the critical steps required for the success of any Information Governance Initiative emphasizing the need to "identify the problem" first and foremost as well as ensuring executive sponsorship. Supported by many anecdotes from his experiences with a variety of customers in verticals from banking, finance to retail, oil and gas, healthcare and manufacturing, the session was extremely informative and insightful. Thanks Sunil !!
Data Growth .... Transform Communication ... Everyone is equal .... How Social Network has changed business
Constant Data Growth at rates that are too scary to even imagine .... demographics and data are changing at a pace that we are all trying to understand and predict. A recent HBR article discusses the topic of how social networking is changing business. The article indicates how leaders from companies such as IBM, Apple, Pepsico amongst others are all active users using the medium to get their message across to everyone in real-time. "Social networking is also flattening organizations by distributing access to information. Everyone is equal on the social network. No hierarchies need get involved."**
"A year ago, many people poked fun at Facebook as a place where kids shared their latest party news. Today more than 600 million users worldwide are active on the site. The most rapidly growing demographic is people over forty. More than 300 million people spend at least one hour a day on Facebook. Approximately two hundred million people are active on Twitter in spite of — or because of — its 140-character limitation. Another 100 million use LinkedIn. None of these social networks even existed at the beginning of the decade."**
Interesting read http://blogs.hbr.org/hbsfaculty/2010/12/how-social-networking-has-chan.html
** Source: http://blogs.hbr.org
The much awaited Jeopardy! television quiz show is about to air in just over a few hours. Airing over three consecutive days spanning February 14 -16, 2011, Watson will play against two of the most well-known and successful Jeopardy! champions - Ken Jennings and Brad Rutter.
Watson represents the latest in a long line of groundbreaking innovations from IBM, a company dedicated to building a Smarter Planet. Watson combines quantum leap advances in deep analytics and system design into a solution with the possibility to transform entire industries.
Watch as Sam Palmisano, Chairman and CEO of IBM, explains how this technology will impact the way humans communicate with computers and what this means for industries like healthcare, finance and customer service. http://www-943.ibm.com/innovation/us/watson/watson-for-a-smarter-planet/smarter-answers-for-a-smarter-planet.html
And ... here is a link to the IBM Watson page with depth and detail that you can use to better understand the technology, impact on future and more on this revolutionary Watson. Go WATSON !!!
Here is an interesting view of the dialogue shift from focusing on "price" to "value of services" in the advertising agencies world. Read the full article here
Source: Advertising Age
The entire IT space is buzzing with conversations around the upcoming Jeopardy show Feb 14-16 where Watson, IBM's natural language processing supercomputer faces humans. Watson beat future rivals, Ken Jennings and Brad Rutter in the practice bout on Jan 14. To read more about this practice round, click here. IBM (IBM, Fortune 500) will donate 100% of Watson's winnings to charity. Interesting practical applications include healthcare sector where Watson could help doctors more accurately diagnose patients. Other business applications include online self-service help desks, tourist information centers, hotlines and much more.
Source: money.cnn.com and ibm.com
Here is a write up on the "10 Things You Need to Know About the Technology Behind Watson" per Craig Rhinehart, Director, ECM Product Strategy at IBM.
Hundreds of customer and partners worldwide have adopted our Smart Archive strategy to make better use of their archived information and meet their regulatory and compliance demands.
IBM’s Smart Archive strategy is a comprehensive, unified, integrated and information-aware archiving strategy. Through a set of IBM software, hardware and service solutions, customers can optimize and unify ingestion of multiple information types; can take advantage of a flexible and secure infrastructure including support of traditional on-premise, preconfigured appliance, cloud service and hybrid delivery models; and can leverage integrated compliance, records management, analytics and eDiscovery capabilities.
Read the full artice http://www-03.ibm.com/press/us/en/pressrelease/32547.wss