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.
CIO Straight Talk - Issue 6
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
CIO Straight Talk - Issue 6 - 7
CIO Straight Talk - Issue 6 - 8
CIO Straight Talk - Issue 6 - 9
CIO Straight Talk - Issue 6 - 10
CIO Straight Talk - Issue 6 - 11
CIO Straight Talk - Issue 6 - 12
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CIO Straight Talk - Issue 6 - 44
CIO Straight Talk - Issue 6 - 45
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CIO Straight Talk - Issue 6 - InsertA
CIO Straight Talk - Issue 6 - 67
CIO Straight Talk - Issue 6 - InsertB
CIO Straight Talk - Issue 6 - 68
CIO Straight Talk - Issue 6 - 69
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CIO Straight Talk - Issue 6 - Cover3
CIO Straight Talk - Issue 6 - Cover4
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