TIBCO is excited to kickoff the sold-out TIBCO NOW event, held at the Berlin Estrel Hotel and Conference Center through June 7. Professionals and business leaders will showcase the importance of taking digital transformation to the next level with advanced smart technology, along with discussing the latest market trends and innovations.
TIBCO NOW thought leaders spanning a range of industries, from transportation to finance, will educate attendees on the best methods for leading their companies through digital transformations and elevating their strategic plans to incorporate smarter technology. The global TIBCO NOW events allow conference goers to gain insights from regional experts, focusing on the specific takeaways necessary for their success.
Industry Perspectives: Financial Services
A full room of financial services technologists and business leaders kicked off TIBCO NOW Berlin today. The theme of digital transformation hits no industry harder than Financial Services.
While consumers continue to vote with their Dollars/Euros/Yen/Pounds—rapidly reshaping the industry—incumbent leadership’s sense of disruption continues unabated. According to PwC’s recent survey of CEOs, 81% of banking CEOs are concerned about the speed of technology change in their industry. This is the highest rate of anxiety among any industry sector in the study.
Technical and business leaders from ABN AMRO and AA Ireland provided their hands-on insights of their personal (and highly successful) digital transformation journeys.
Addressing this pace of change requires providers of technology and financial institutions to focus on a few key trends that are having the largest, most immediate impact on their day-to-day operations, profitability and ultimately, their survival. The imperative to transform “smartly” will separate the winners from those that will not survive.
Digital Transformation Along the Customer Journey
To understand the impact of customer analytics, we must start with the recognition that all data begins as real-time events. This allows every level of analytics on the accumulated data. Finally, the recognition that insights are perishable; there is an imperative to act, and act now.
TIBCO’s Insight Platform provides Financial Services business leaders, data scientists, and platform and product innovators to build a continuous cycle of insight to action to continuously optimized performance. The Insight Platform balances learning cycles (wrangling, algorithms, models) with operational execution (playing data through models in real time, determining next actions, measuring and monitoring). The return cycle feeds right back to learning—creating the perfect virtuous loop.
This virtuous cycle of insight and action applies across nearly every aspect of modern financial services management: Customer Insights, Fraud Detection, Risk Management, Portfolio Management, and Algorithmic Trading.
Industry Perspectives: Travel and Tourism
The travel industry was among the first to really feel the disruptive effects of the open Internet. Think about it: When was the last time you called a travel agency to book your vacation?
As customers adopt new devices and technologies, their expectations about the customer experience have changed dramatically. TIBCO’s Heleen Snelting and Rob Zazueta started the session by walking us through the connected customer journey—from booking through the full travel day to the final arrival—and pointing out the key touch points for interactions that can delight customers and engender loyalty.
We were then joined on stage by Jeroen Cornelissen who, through his work with Sopra Steria Consulting, has helped Brussels Airlines realize significant savings by enabling their management and analyst teams to perform business intelligence analyses in a self-service environment using TIBCO’s Spotfire. One of the more compelling use cases centered around optimizing the number of infant seatbelts and life vests that should be aboard every flight. Rather than stick to a generic number, a fuel efficiency expert within Brussels Airlines performed an in-depth analysis that suggested a fairly simple plan—each flight should carry a standard number of seat belts and life vests for infants through a majority of the year, but increase those number by about 25% during the Easter holidays. Jeroen reported that, with just about 10 minutes of analysis, this expert saved the company about €36,000—a powerful demonstration of the impact digital transformation can have on the bottom line.
Heleen and Rob closed the session by describing the benefits of building a platform to selectively serve your data to the right people at the right time and outlined the architecture for TIBCO’s Insights Platform—encompassing the wide range of software and support available to our customers as they continue the digital transformation of their organizations.
Stay tuned for more coverage of 2017’s second TIBCO NOW event here in Berlin, and get connected with us across social networks using #TIBCONOW. Want to attend the next event? Get early bird registration for the upcoming TIBCO NOW conference in San Diego.