About the IWT Frankfurt
The digital transformation makes a lot new: During the opening speech, Oliver Schröder GM & VP Sales EMEA Central of Informatica discussed the digitalization and the resulting innovations in companies: New business models, new processes, new target groups, new applications. The basis for a successful implementation is thereby formed by data and infrastructure. A networked infrastructure which allows quick access and intelligent handling with data.
Furthermore, the participants received insights into the solutions and innovations around Informatica MDM. You can see the latest trends and requirements of the digitalization clearly through applications like Axon, the Data Governance Workbench, or the GDPR-Template. The management of the continually growing data amount and their deep network, an increasing number of devices per person, artificial intelligence and cloud solutions are the challenges of the coming years.
The IWT paid special attention on the topic of GDPR - the new EU Data Protection Regulation that currently preoccupies all enterprises in Europe. The most important step: In the first place one need to understand which sensitive data are located in which systems. Only with this knowledge a working strategy can be developed and the GDPR-specifications be implemented soon. An important note: Do not see the GDPR just as a statutory requirement. GDPR is above all a chance to get a 360-degree view on clients and to bring data to the heart of the company.
Exciting experiences were shown by various customer projects:
Michael Massoth, Senior Project Manager from German Lufthansa gave an insight into the approach and the learnings from the MDM-Projects of their airline.
Manfred Jürgens, Product Information Manager (PIM) from the Swiss retail company Migros, clarified “final” the meaning of product information: They reduce the subjectively perceived risk of the purchase. When it comes to the creation and maintenance of product information, Migros distinguishes between the different types of purchase. For spontaneous- and experiential purchase like for instance food less product information is required compared to seeking purchase. Accordingly, the guidelines and rules differ in the product information management. While these findings are based on classic approaches and market research methods, the definition of relevant items was much more complex. At first no explainable pattern could be identified regarding items with extensive data for an increase in sales - however, the instinct of the Category Managers was very reliable. Migros is now successfully applying this knowledge in an artificial intelligence and complements it with testing and scoring-Methods to select relevant articles. An important success factor that Manfred Jürgens gave to the members to take along: The project is not finished at some point – it is necessary to improve constantly.
The complex combination options for travel products and the resulting challenges for the personalization of product recommendations, were explained by Kai Wolffram and Stefan Grossmann from TUI. To develop innovative concepts deals, TUI is primary dealing with the question of why customers decide not to book and are hereby relying on the evaluation of unstructured data, such as social media.
Dr. Jens-Uwe Meyer, CEO of Innolytics, also emphasized this approach with his closing-keynote about the digital disruption. His opening statement: Those who ask their customers what they want will not develop innovative solutions. He recommends:
- Press the reset button and rethink.
- Stay dissatisfied and question everything.
- Develop a high degree of frustration tolerance – Digitization is a long way to go.
- Get schizophrenic. Because: As fascinating as digital business models are, humans tend to hold on to their habits.
A successful digitalization means on the one hand to keep the proven risk and on the other hand to develop innovative concepts for future target groups at the same time.
We are very excited to see, what the digital transformation will bring and are looking forward to the IWT 2018!
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