Fueling the Future and Protecting the Environment: APPEA 2013

A lot of people don’t think about oil and gas in terms of the medicine we need or the food we eat, but most products we buy are touched by this industry. The energy that heats our homes, and powers our cars, trains, planes, and boats allows us to enjoy an advanced quality of life. Much of our current technology is directly powered or indirectly in need of oil and gas. That doesn’t mean there shouldn’t be regulations and safe practices to ensure the welfare of our planet and the living things that inhabit it. Oil and gas companies have a big responsibility, other than just bringing in a profit. The environment is as much a major concern for them as it is for everyone else.

APPEA 2013

The Australian Petroleum Production and Exploration Association (APPEA) is holding the 2013 APPEA Conference in Brisbane, Australia from May 26 to 29. This is the Southern Hemisphere’s leading oil and gas event, where local and international experts from the industry — including people from the technical, economic, environmental, and political sectors — come together and exchange ideas and ways to help promote the sale and reliable use of oil and gas. [Read more...]

Loyalty 101: How Savvy Shoppers Get the Most Out of Loyalty Programs

For years I have collected miles with a few different airlines, but have managed to fly only twice using my miles. Here, in one sentence, you have the problem with airline loyalty programs, but also my loyalty strategy.

Airlines want you to fly with only them and collect miles. But they really don’t want you to use the miles to fly – or so it would seem from the way the programs are structured. It is a “game” and you need to understand how to play in order to win. In fact, modern loyalty programs are morphing based on gamification techniques. More on this later.

Flawed loyalty strategy

Having been treated to a Loyalty101 class by an American colleague, I’ve discovered I’m doing it wrong. First, you need to fly with just one carrier, no matter how inconvenient it may be in terms of routing, to make sure that you are at the highest level in the loyalty program. These high levels are the only place you get real benefits. My loyalty mentor has over 1 million miles on United and gets access to lounges, automatic upgrades, and priority access to seats. And on every upgraded flight, she collects miles at a higher rate – like compound interest. So she will happily take United flights which include a change rather than take a direct flight with an alternative carrier. [Read more...]

In Terms of Mobile Apps – Newness is Relative

It used to be that companies drove traffic solely with a new product launch. While that’s still largely the case for how marketing cycles work, we are in an era of consumer event triggers where each product cycle is increasingly dictated per person. Why? Because new things launch every day and we are constantly inundated by all forms of outbound marketing messaging. There are very few things we need (not want) when they’re new. Sure, new things can be better, but when we have a problem and need a solution, we don’t care when the solution was created; we care that it’s available at our fingertips.

“There’s an App for That”

Nothing speaks to the on-demand nature of solution-seeking like mobile apps. I recently was trying to clean up my music library and after five minutes of de-duping, I thought I’d test out the whole “There’s an app for that” adage and go searching for a solution. Hallelujah! An app that instantaneously answered my prayers — one thousand duplicates gone in a flash! I paid $10 for it (pretty steep by typical app purchases), but well worth it. That app could have been published two years ago for all I care, but it was there when I needed it. It was new and life-changing, and that trigger led me to other apps that I didn’t know I needed or wanted. I became drawn into an ecosystem of products I would not have looked at otherwise. [Read more...]

It Only Takes Seconds to Lose a Customer Without Real-Time Information

Getting the right information on demand is an eternal problem of today’s knowledge workers, and will only grow. Lack of knowledge causes a delay in decision-making, and ultimately leads to bad decisions. This is the essence of the Two-Second Advantage, where a little knowledge in the correct context at the correct time is much more useful than all of the pertinent knowledge if it is too late to act upon.

Nowhere is this more true than retail where an immediate and succinct answer to a customer’s question is essential. Not reacting to a customer leads inevitably to dissatisfaction. Answering a customer question incorrectly can also lead to a potential revenue hit when the customer returns a product due to lack of information.

Cleanup in Aisle Two

Here is an example of the environment that exists in many retail stores: a store manager walks up to the shelf in his store and needs more information about the product in front of him. In the old world, he would write a number on the back of hand with his pen and go back to the dirty, smelly office in the back, log on to some application (or likely several), type in that number and get the information that would allow him to make a decision. [Read more...]

How is Wall Street Like the Keystone Cops?

Think of business in a new way. If one runner speeds up to get ahead of the pack, what tends to happen is everyone else speeds up to match his pace. With everyone running above their optimal level just to keep up, no one gets ahead and everyone loses efficiency… the market becomes less efficient. What if someone from the pack starts to run in a particular direction? The pack will follow and match the “leader.” Just like the Keystone Cops, the pack becomes a slapstick routine where everyone expends energy and resources to end up in another huddle, just at another location.

Getting an edge in the modern business environment has become a temporary advantage, as eventually everyone catches up. Technology that once put you ahead of the pack becomes mainstream; you have to look for another direction to run just to differentiate. In Capital Markets specifically, when it comes to trading, split microseconds provide a real revenue-driving edge. I’ve been told on numerous occasions that financial firms move hardware physically closer to the exchange to get any latency edge they can. The NYSE has even built a server room on their premise with every corporation having the exact same length of cable to the mainframe to discourage what had been a disastrous real estate land grab around their physical building. [Read more...]

Top Three Things Healthcare Can Learn from Other Industries

Only a decade ago, India and China fully opened their societies to the West. Instead of telephone poles and landlines, Asian companies met 21st-century challenges head-on by skipping investing in outdated infrastructure for moving directly to smart phones and deploying mobile apps. A parallel can be drawn with the healthcare industry. Let’s leapfrog to 21st-century information technology solutions and stop trying to solve today’s problems with yesterday’s outdated technology.

The three broad areas healthcare needs to focus on include re-framing conversations, improving processes, and leveraging technology. These three areas are interconnected; it would be impossible to fully innovate in one without the other two. The processes have been proven in other industries, the technology is available to healthcare, and the industry has the power to innovate like never before. Learn how to transform the healthcare industry with 21st-century solutions at our HITP conference May 6-8. [Read more...]

What Does Music Have In Common With Successful Banks?

Symphonies and orchestras are the two things that come to mind when I think of banking operations. Today’s banks have to outshine competitors and provide exceptional customer services; that’s the path of success. In doing so, banks need to harmonize technology and IT services that run and monitor business operations.

Like an orchestra, organizations have numerous back-end systems and applications playing their own tunes. The complexity lies in creating harmony that eventually soothes business initiatives around revenue growth through customer experience, improving operational efficiency, and mitigating risks. The right set of technologies enable enterprises to derive more value out of back-end systems or applications, address the complexities around managing volume, velocity, and variety of data (or BIG data) and help organizations do more – easier, faster, and more cost effectively. [Read more...]

Why I Check My Luggage On Every Flight

I fly fairly often. I don’t fly so often I am always upgraded to first class, but I find myself in a plane at least a couple times a month. Let’s put it this way, I fly frequently enough that my status waives luggage-checking fees.

Despite my loyalty to my airline and frequent travel, I am consistently amazed at how little trust there is in airlines. Customers are wary to surrender their bags out of fear their bags are going to end up lost or on the other side of the country.

I don’t know the actual statistics, but I am confident you recognize this lack of trust in airlines. It seems the vast majority of US travelers take most of their belongings with them on each flight and forgo checking in. The heroic efforts of flight attendants are remarkable as they try to squeeze, push, and rearrange bags to get that amazingly large piece of luggage safely into the bin. Of course, every flight seems to have the last-minute check-in process for the poor souls so late that their clutch purse will need to be checked.

Integration for Transportation

I don’t have this concern because some of the airlines in the US have invested in technology that can restore trust. When I fly on those airlines, I trust the ground baggage handling system is integrated to the system that coordinates the gate of each plane. I trust the baggage tracking system is integrated with the ticketing system such that my bag is forever linked to me as a customer. [Read more...]

Playing Trains as an Adult is about Big Data

union-pacific-locomotiveWhen you think of railroads, do you think of high tech? Maybe you’re like many who think of trains as a quaint, lingering sign of a simpler time. Rusted iron meets rusted iron.

The reality is that railroads are a far cry from the business of even a few years ago and require a serious back-end of integrated systems to deal with the massive amounts of data produced and consumed today. Railroads are as much a big data and integration story as retail.

Technology and trains

While their paths may be predetermined by rails and switches, there are a host of other factors that affect the value proposition of running a railway. From the planning phase to actually under way on the tracks, these factors show up as events that need to feed both automated and human decision-making. [Read more...]

Why You Should Be in Control When it Comes to Shopping

When it comes to shopping, today’s consumers are in control, with more choices and more options than ever before. It is no longer enough to offer a good selection of merchandise at an attractive price because customers want “experiences” to go with the products they buy.

The cutthroat competition among retailers to give “everyday low prices” has become an everyday norm. The inventory management revolves around the whole concept of keeping the customers satisfied and in turn, “happy.” The happy customer is the loyal fan and will keep coming back.

Word of “Like”

Technology is impacting our everyday lives from the time we get up to the time we sleep. These technological social tools are not just available to us, as they are available to the retailers as well, from social media to online promotions to business analytics.

Word of mouth is what used to go around a few years back when it came to discuss some brand or a retail store. It used to be a close knit group of friends and family only then. With technology touching every part of our lives now, we trust “likes” and shares on social media sites. Instead of talking one on one with friends about a new product at a particular store, we read the reviews of hundreds of strangers giving their valuable feedback. Companies must now keep up with the technology as 140 characters sent out in a few seconds could ruin their reputation. [Read more...]