CIO Straight Talk - Issue 6 - 44

Thinking about investing in big data

1. Managing data. From a big

or perhaps worried about whether

data perspective, there is a greater

you should? If this is you, then

variety and volume of data than ever

read on!

before. There is also more complexity

Big data has captured a great deal

in gathering, retaining, and

of attention in recent years and has

governing that data while balancing

spawned much confusion. While the

a need for increased security with

physical management and processing

greater customer accessibility. As

of large volumes of data gets a lot of

custodians of our customers' data, we

airplay, more-fundamental questions

take a no-compromises approach to

relating to the nature and general

ensuring its security and

value of data and, crucially, its

appropriate use.

application to business deserve
more attention.
And I have a somewhat special
perspective on this.

2. Extracting insights. New
and cheaper analytical techniques
and tools have allowed access to
new parts of the data "estate," and

At ASB, we have developed an

new communities of interest have

approach that closely considers the

spawned around data at different

needs of customers and the business,

parts of its life cycle - for example,

as well as the most effective use of

Marketing is interested in what is

IT resources.

happening right now in our

In 1969, we became the first New
Zealand bank to operate an online

social channels.
3. Creating value. Our

real-time banking system linking

organization has invested heavily

all our branches. Since then, we

in a "Sales and Service" culture. We

have continued to actively pursue

are excited about what this means

new technologies where we see the

in a future where our customer

potential for value. This process has

interactions are increasingly digital,

been assisted by New Zealanders,

"social-aware," and driven by data.

who embrace new technology, are

The greatest challenge in all this

highly mobile, and highly oriented

is how you take data and make

toward social media. Indeed, we

conversations or digital experiences

hear that many of the global social

more relevant and valuable for

platform leaders test new ideas in

customers. One of our executives

New Zealand.

describes this as figuring out how

A Three-Dimensional View

to balance insights and instincts,
which I think perfectly captures the
opportunity and the challenge.

At ASB, we think about data across

Vendors often focus on the first and

three dimensions and believe that

second of these dimensions, but few

showing how big data applies across

talk about the challenge of creating

these illustrates an important

value from the data. Achieving this

message about the topic of big

really depends on changing the

data itself.

culture of the organization to become

CIO Straight Talk | 44

Our search
for value in new
technology has
been assisted by
New Zealanders,
who embrace new
technology, are highly
mobile, and highly
oriented toward social
media. Indeed, we hear
that many of the global
social platform leaders
test new ideas in
New Zealand.



Table of Contents for the Digital Edition of CIO Straight Talk - Issue 6

Contents
CIO Straight Talk - Issue 6 - Cover1
CIO Straight Talk - Issue 6 - Contents
CIO Straight Talk - Issue 6 - 3
CIO Straight Talk - Issue 6 - 4
CIO Straight Talk - Issue 6 - 5
CIO Straight Talk - Issue 6 - 6
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CIO Straight Talk - Issue 6 - InsertA
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CIO Straight Talk - Issue 6 - InsertB
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CIO Straight Talk - Issue 6 - Cover3
CIO Straight Talk - Issue 6 - Cover4
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