David Jarvis Client Insights, Senior Consultant Center for Applied Insights
It is well known that social media holds a great deal of promise for the enterprise, but many executives and others are still struggling to get over the potential security and privacy risks. So, what is the best way to make the transition to becoming a secure social enterprise?
There are a lot of potential benefits to extensively using social media within and outside of your organization. It can increase connections with clients and customers, creating deeper relationships. Internally, it can improve collaboration, productivity, flexibility and accelerate innovation propagation within the enterprise. Social media even has the potential to break down hierarchies, creating more a more collegial working environment.
However, all of this newfound openness and transparency can create significant struggles and security concerns. What happens if my personal and professional social media accounts get entangled? How can I encourage an open dialogue with my customers without leaking product and strategy details? How can I balance my conversations with clients – open enough to be valuable, without seeming like I am controlling it too much? What are the best ways to approach approvals and checks before posting, without sacrificing immediacy?
These worries are not unfounded. Earlier this month, LinkedIn reportedthat hackers breached their servers and leaked 6.5 million user passwords. Not all of them were decoded, but a number were published. In the latest IBM X-Force annual report it was noted that in 2011 there was a significant increase in phishing mails impersonating social media sites and attackers are using personal and professional information from social media to improve their pre-attack intelligence gathering.
We have recently published a couple of resources on using social media responsibly and securely. IBM recently launched our “Go Social. Stay Safe. Be Smart”program externally.
We also just published a new article, as part of our Security Essentials for CIOs series, on navigating the risks and rewards of social media. In the article, we outline four steps for a better enterprise approach to social media, plus some tips for employees using social media.
Define your social agenda – What do you want from social media? Who should be involved? What types of benefits do you expect?
Analyze the risks – Use a structured way to look at potential internal and external risks. Come up with standard procedures for when things go wrong.
Create and communicate your policy – Design an education program to communicate the opportunities and risks of social media, and what is expected from employees.
Monitor security and measure progress – How effective is the use social media for the enterprise? Is it driving more business? Is it really improving collaboration?
Shubham Jain Consultant, IBM Center for Applied Insights
IBM Center for Applied Insights
(CAI) has recently started a new program on building fact-based, market-centric
thought leadership assets on various facets of mobile money.
As I dig deeper to understand the
current state and evolving trends of this segment, some facts are worth
Group to Assist the Poor. (CGAP) estimates that around 3.5 billion people
worldwide currently lack access to formal financial services. It estimates that
there will be 1.7 billion unbanked customers with mobile phones by 2012. There
are more than 165 pilots in the mobile money segment in emerging economies being
run by a diverse group of organizations.
However, very few mobile money
deployments have been able to achieve scale and gain significant customer
base. Some deployments which have been
able to achieve significant scale include M-Pesa in Kenya, GCASH and Smart
Money in Philippines, Vodacom in Tanzania, and MTN Uganda.
Hence, there is definitely a huge
potential to achieve scale in this segment, especially in the emerging markets,
and firms are investing hard to address this market. However, many of them are
still struggling to fully tap into this opportunity. Cracking the code for high
customer adoption and usage, in quantity and continuity, appears to be an
Achilles’ heel for the Mobile Network Operators (MNOs), financial institutions,
and other organizations trying to venture into this segment.
So, what insights can we learn
from those who have succeeded in this segment? I researched to determine some
common factors which seem to have made some deployments more successful than
others. It seems that there are two broad factors which can prove to be very
critical for an organization while trying to launch and subsequently scale: the
actual product and an effective agent network. Today, we’ll take a look at the
impact of the product.
Product – Building a strong, robust and compelling
product offering (and later a product portfolio) is a very important factor
which is sometimes overlooked as many companies try to emulate successful
offerings and solutions from other deployments.
Some of the key points to keep in mind are:
vision and long term strategy – Most of the successful companies have a
well-defined long term vision and strategy with respect to offering mobile
money services. For instance, a company can aspire to be the leading low cost
provider for person-to-person transfer services or it can aspire to be a
leading service provider in the retail payments segment. A clear vision also
helps senior management develop a long term commitment to the service. This
often takes substantial initial funding towards mobile money deployments and at
to five years to become profitable.
needs of the market – A clear and articulated value proposition, in terms
of addressing the ‘market specific’ needs for mobile money, goes a long way
towards ensuring success of the deployment. There is no ‘One size fits all’
business model or offering which can cater to different markets in the emerging
or the developed economies. For example, M-Pesa has gained its popularity and
scale by uniquely positioning the product to address the remittance need of the
Kenyan population; its value proposition being: “send money home.” WIZZIT in South Africa focuses on “live life
anywhere” by addressing the mobile banking needs of their consumers. Other
avenues can be business-to-business payments, bill pay, salary payments, and so
on. In the planning phase, a thorough market research can help develop a deep
understanding of consumer’s pain points in the specific market which can be
addressed effectively by the mobile money deployment.
awareness – The bulk of potential consumers in the emerging markets are
from the informal economy, people who are unbanked and use other formal and
informal means such as post offices, banks, or personal networks for money
transfer. This target segment is mostly unaware of the potential for and
features of newly launched mobile money offerings. They also have security
apprehensions associated with mobile money transfers and lack of initial
technology understanding. For example, some of my colleagues were initially worried
about security of their payments while using newly launched mobile payments
services by BharatiAirtel.
Hence, a concerted and targeted marketing campaign goes a long way in
addressing the apprehensions of the target segment.
Features –This target customer base from the informal segment in emerging
economies wants the service to be Fast (Instant transfer of money over long
distance and without any queues), Inexpensive (in comparison to costlier
credit/debit cards or informal payment methods), Safe (Holding value and making
payments that is safer than holding and transacting cash) and Accessible (able
to cash out, make purchases, and receive money in remote areas). For example,
as per a white
paper by IBM, cost of sending 1000 Ksh ($13.06) through M-Pesa is $0.38
which is cheaper than any other service available in Kenya such as PostaPay and
Partnerships – Research suggests that making the right partnerships at the
right time helps a) align the business and its new/existing products with the
overall vision on an ongoing basis, b) continuously learn and address the needs,
challenges and new demands of the market and c) expand and reach scale. The
partnerships can be with technology partners, banks and financial institutions,
MNOs, agent networks, retail chains and other corporate organizations.
For example, Bank Bradesco and the Post Office in
Brazil have partnered to create Banco Brazil. The partnership has been able to
effectively attract rural populations boosting the business of both companies. Another
interesting partnership is in Japan, a developed economy. Sony partnered with
DoCoMo, a MNO, to form a joint venture – FeliCa Networks. They produced both the mobile phone chip and card
reader which enable them to manage downloads and applications for consumers and
merchants and gain a strong foothold in the mobile payment market.
There is a lot to be learned and written on the effective management
of agent networks. The agent network is the effective face of the company for
consumers. I can try to explore this
factor in more detail in one of my subsequent posts.
Look forward to your comments and
are bad to do by committee, creating a work of art, cooking dinner, closing a
baseball game – and sometimes committees are a necessity. Security and risk
committees are an essential part of any enterprise’s security and risk
management infrastructure. They are a sign of a mature organization. By
promoting collaboration across the enterprise and making security and the associated
risk discussions an integral part of senior leadership’s responsibilities, the
enterprise can be better protected. Yet, even though the benefits are clear,
not enough enterprises have one.
released last week by the Carnegie Mellon CyLab, looking at privacy and
security governance in the Forbes Global 2000, reported that boards and senior leadership
still are not exercising appropriate governance over the privacy and security
of their digital assets. The study stated that there is still a significant gap
in understanding around the fact that security, privacy and IT risk are all a
part of enterprise risk management.
The study did
note one encouraging sign – that more and more enterprises have
cross-functional privacy/security committees – 70% of 2012 respondents versus
17% in 2008. These committees can act as a bridge to boards and senior leadership
and elevate the discussion around security and risk, potentially closing the
findings line up very nicely with what we recently uncovered as part of our 2012
CISO Assessment. Overall, only
49% of the total sample reported that they had a security or risk committee.
When we delved deeper, 68% of the most mature group of organizations,
Influencers, had a security/risk committee. In comparison, only 26% of the
least confident and mature group, Responders, had one.
interesting was, regardless of the organization’s overall security maturity
level, if they had a security or risk committee they shared similar
characteristics. In general, leaders of the committees tended to be Senior IT
Executives (28%), CISOs (24%) or Senior Business Executives (22%). These
committees met on a fairly regular basis, with 48% meeting quarterly and 27%
security and risk committees also took a comprehensive, enterprise-wide
approach with both business and IT representation. From the business side, the
most represented functions included Compliance (80%), Legal (65%), Business
Executives (64%), Business Operations (64%), and Finance (59%). From the IT
side, IT Executives (91%), IT Operations (72%), Network Operations (60%), and Data
Governance (51%) were all a part of a majority of the committees.
part of the CISO Assessment we looked at the primary objectives of the
security/risk committees. Looking at the chart below we can see that, based on
their top two choices, most committees were primarily focused on developing
enterprise security strategy and developing action plans and recommendations.
So should committees only be focused on strategic policy and governance issues?
Is there more they could be doing?
At IBM, our
risk management team meets quarterly with a top advisory committee, including
senior vice presidents of all the business units, who report directly to the
CEO. These include the leaders of many functional areas including finance,
marketing, technology and others. Each of these executives must understand the
security risks to his or her unit and what controls are in place. Together,
they shape and decide strategy. Security, after all, is intimately tied not
only to their units, but to the future of the enterprise.
all this information, I think that enterprises are using security and risk
committees more and more and they are adopting best practices around the leaders,
members, operations, and goals of those committees. To make the next step:
Make sure your committee has both technical and business leadership representation and make sure it is connected to the highest levels of the enterprise and the board. The committee can be the gateway between the enterprise and the board with respect to information risk management.
Ensure your committee is broad and diverse. Compliance, legal, finance and IT operations representation is expected. Reach further, make sure business unit leaders are involved so new products and services are created in a secure fashion. Include human resources to help with employee education initiatives.
Set up a way to measure the progress of the committee. Using targeted metrics can help focus not only the committee, but the entire security organization for the enterprise. It will provide something to work towards and make it easier to communicate with the board.
The CAI team have spent some time recently musing on the meaning of “thought leadership” – how do you define it and what makes good thought leadership. These may seem like obvious questions but, in my experience, as the amount of content multiplies (web commentary, blogs, social media, and so on), many people are unclear about what is distinctive about thought leadership. Our discussion highlighted some interesting points.
Firstly, there is a hazy line between thought leadership and marketing material. Thought leadership uses fact-based research to analyze a topical client issue and uses this to propose client action. Marketing material, on the other hand, uses assertion to argue the case for a supplier’s products and services. Both have their place. A potential customer would expect to find detail of products and services when accessing suppliers’ websites and point-of-view documents can provide a persuasive case to buy. Effective thought leadership, though, can offer something a little different. It can entice a potential client in, change their perspective on an issue, and increase their levels of trust and confidence in their supplier. It is for this reason that thought leadership features so prominently on the websites of all major IT systems & service providers.
So what makes effective thought leadership? I recently carried out a scan of a number of IT providers websites and the quality varies hugely. The best included several thought provoking articles which were easily accessible, thoroughly researched, and well presented. They made a compelling case for actions which clearly aligned closely with the strategic direction of the supplier. The worst were short opinion pieces which demonstrated a poor appreciation of market dynamics. In determining what makes effective thought leadership I use four categories (borrowing considerably from the analysis carried out by source for consulting.com):
Credible research: This means sufficient depth and breadth of data collection (perhaps using a customer survey) plus analysis which has rigour, yet can be understood by the reader.
Client appeal: It must draw the client in – to pick up the report/article and to carry on reading. To do this it must tackle an issue of immediate client interest and be written from the clients’ point of view, offering practical recommendations and demonstrating outcomes.
Distinctive: It must say something new, different which makes a difference (i.e. it qualifies as newsworthy).
Effective messaging: It must draw the reader almost subliminally to a set of messages which are aligned to the suppliers’ agenda. It this is done too obviously, the research and analysis loses credibility.
These are important things to remember as we work on crafting our own thought leadership. Our discussion then moved on to the characteristics of effective thought leaders – suggested role models ranged from the journalist & populariser of concepts Malcolm Gladwell to the UK-based wit Stephen Fry, with 4 million Twitter followers. Perhaps we can explore this subject on another post.
As you can see, Healthcare has a distribution of 31% Outperformers and 69% Others. Overall, that breakout is similar to many other industries – with one exception. 19% of respondents identified that they had a high Anticipate capability with a low Listen capability.
This is unusual as typically most organizations will develop strong Listen capabilities before investing in Anticipate capabilities. The majority of healthcare organizations we surveyed followed this more typical model, but the higher number of outliers here suggests a couple of things: 1) Healthcare firms recognize the benefits of applying analytics to data in order to develop insights and 2) they could be dealing with an overwhelming amount of patient data that limits their ability to listen effectively.
Most Important Issues over the next 3 years:
We also saw something a bit different when we asked healthcare organizations about their most important issues over the next 3 years. Most other industries are focused on technical, economic or organizational challenges. Healthcare firms are clearly most focused on patient safety. It was selected as a top issue by 55% of respondents, with the next highest issue, compliance, only being selected by 37% of respondents. We also saw that an often talked about topic, cost control landed in 5th place with 28% of respondents selecting it.
Digging a little bit deeper into the data, we found that the vast majority of healthcare Outperformers collected data at every customer interaction (82%) and were 1.7x more likely to do so than the Others. This was the 2nd highest overall percentage behind retailers.
However, when we asked about their ability to capture unstructured data, we saw that healthcare organizations are struggling. Only 45% of the Outperformers captured unstructured data (2nd lowest overall) compared with 30% of the Others. This lends at least some credence to the theory mentioned above that some healthcare organizations may be struggling to keep up with the volume of data that is now available to them.
Also supporting the theory that healthcare organizations are embracing the value of analytics, when we asked who they shared insights with, we saw some of the highest numbers of any industry.
82% of Outperformers (vs 44% of Others) use insights to guide the actions of executive decision makers. 87% of Outperformers (vs 33% of Others) share insights with suppliers and business partners. 87% of Outperformers (vs 54% of Others) used analytics to recommend actions to patients. The Outperformer numbers were some of the highest of any industry and are all very logical ways for healthcare organizations to leverage insights from analytics.
This same theme continues when we look at where healthcare organizations realize value from analytics. 60% of Outperformers (vs 42% of Others) realize value when it comes to Patient Relationship Management. 48% of Outperformers (vs 33% of Others) realize value from Workforce Planning and Optimization. Again, these were all large percentages compared to other industries.
We did however see that there was a gap when it came to collaborating and sharing knowledge. Only 18% of Outperformers were realizing value here. That said, the overall numbers across industries were low for collaboration and sharing, but with analytics providing such strong value in a number of areas for healthcare organizations it seems logical that a possible next step would be to build better collaboration and sharing capabilities. After all, if nobody knows about an insight that’s been developed regarding a patient, drug, procedure, etc, it can’t add significant value.
Overall the data we see from healthcare organizations suggests that Outperformers are truly leveraging their Anticipate capabilities to drive value for the organization and for patients. That said, there’s still opportunity to add value by continuing to develop the Listening capability while making sure that insights and knowledge can be shared across the organization.
Senior consultant, IBM Center for Applied Insights
It’s easy to say that information security leaders have it tough. The security landscape is full of conflict, confusion and uncertainty, coming from a number of different directions. Leaders have a lot to handle. If it’s not a rapidly shifting threat, it’s new technology platforms to secure including mobile, cloud and social. Almost every article I see these days is focused on the growing challenges, with titles like the “Eye of the storm”, “Into the cloud, out of the fog” and “Converging waves of pain.”
Today, the IBM Center for Applied Insights releases the results of the 2012 IBM Chief Information Security Officer Assessment. This was our first foray into examining the role of information security leaders, and how they are evolving to meet the challenging landscape. While we understand and appreciate the fact that things are difficult on the technical front, we wanted to focus on the organizational and leadership aspects of information security.
We felt that information security leadership was in the process of undergoing a transformation and wanted to test whether the role was changing based on increasing security challenges and greater attention from business leaders.
We wanted to identify best practices that could be shared across the industry – and understand if organizations were moving toward a more holistic, risk-based approach to information security.
We also wanted to know what roles collaboration, innovation and integration are playing in security organizations.
What we discovered was that only 1 in 4 security leaders have made the shift to being recognized as having strategic impact on their enterprise. Based on a self-assessment of their organizational maturity and their ability to handle a security incident, three different types of leaders emerged.
Influencers (25%) – This group sees their security organizations as progressive, ranking themselves highly in both maturity and preparedness. These security leaders have business influence and authority – a strategic voice in the enterprise.
Protectors (47%) – These security leaders recognize the importance of information security as a strategic priority. However, they lack important measurement insight and the necessary budget authority to fully transform their enterprises’ security approach.
Responders (28%) – This group remains largely in response mode, working to protect the enterprise and comply with regulations and standards but struggling to make strategic headway. They may not yet have the resources or business influence to drive significant change.
We also discovered some significant differences between the groups that show how Influencers have developed their strategic voice. Compared to Responders, Influencers are:
2x more likely to have a dedicated CISO
2.5x more likely to have a security or risk committee
3x more likely to have information security as a board topic
2x more likely to use a standard set of security metrics to track their progress
4x more likely to be focused on improving enterprise-wide communication and collaboration over the next two years
2x more likely to be focused on providing education and security awareness over the next two years
This is just the beginning of our conversation around the role of information security leadership and its place within the enterprise. The full report goes into more detail on the security landscape, the different types of leaders and their characteristics, and a way forward for everyone.
Susanne Hupfer Client Insights, Consultant IBM Center for Applied Insights
Ever wonder what makes one infographic hit the mark and another one miss? There's more science to it than you might think.
Information graphics – visual representations of information, data,
knowledge, or concepts – have been around for millennia, and humans have
long mapped data in order to organize what they see, filter out
extraneous details, reveal patterns, suggest further exploration, and
ultimately better understand the world around them.
"Why should we be interested in visualization? Because the human visual system is a pattern seeker of enormous power and subtlety. The eye and the visual cortex of the brain form a massively parallel processor that provides the highest-bandwidth channel into human cognitive centers. At higher levels of processing, perception and cognition are closely interrelated, which is the reason why the words ‘understanding’ and ‘seeing’ are synonymous.” (Colin Ware, Information Visualization: Perception for Design, Academic Press, 2000)
Anyone responsible for creating infographics in order to communicate complex information effectively can benefit by taking advantage of lessons from visual perception research.
Prof. Colin Ware, of the Data Visualization Research Lab at the University of New Hampshire, explains:
“… the visual system has its own rules. We can easily see patterns presented in certain ways, but if they are presented in other ways, they become invisible. … The more general point is that when data is presented in certain ways, the patterns can be readily perceived. If we can understand how perception works, our knowledge can be translated into rules for displaying information. Following perception-based rules, we can present our data in such a way that the important and informative patterns stand out. If we disobey the rules, our data will be incomprehensible or misleading.”
One important lesson we can leverage from vision science is an understanding of which elements will prominently “pop out” of an image – thanks to a mechanism known as “pre-attentive processing.” As our brains start to process an image, massively parallel processes detect image elements that are differentiated by low-level characteristics such as form, color, motion, and spatial position. The principles of pre-attentive processing govern which visual elements grab our attention first, before we’ve even begun to consciously process the image.
Here’s a simple example to illustrate the point. Count the number of 9’s appearing in this set of digits:
This time was a lot easier and quicker, thanks to the fact that our brains process lightness pre-attentively.
Some features that are pre-attentively processed include: color (hue and intensity), form (line orientation, line length and width, size, shape, curvature), motion (flicker, direction), and spatial position (2D position, spatial grouping).
For some more pre-attentive fun, visit the demo at this site, choose a feature, and see how immediately and easily your visual system is able to process it.
Understanding what kinds of features are pre-attentively processed has important implications for visual displays. When designing for critical situations such as air traffic control, flight display, or clinical care dashboards, it’s crucial to understand how to make certain symbols or elements stand out from others so they can be interpreted and acted upon immediately.
Likewise, if you’re designing infographics, it’s also important to understand which elements will be seen at first glance – they’re your first chance to grab your reader’s attention, even before conscious processing. Using color, size, shape, orientation, and other pre-attentive attributes, you’ll need to carefully craft which are the most important elements that should “pop out” first.
But choose carefully; not every element of your infographic can stand out. Vision science tells us that pre-attentive elements become less distinct as the assortment of patterns increases. Imagine a bumblebee swarming among flies; the bee is easy to pick out. Now imagine wasps, hornets, and yellowjackets joining the swarm, and the bumblebee will get lost in the mix. So it is with an infographic: As the multitude of competing pre-attentive elements increases, their “power to pop” will be diminished.
David Jarvis Senior Consultant, IBM Center for Applied Insights
According to the 2012 Cloud Computing Survey released this
month by IDG, the number one barrier to implementing cloud strategies is
security. A full 70% of respondents reported being significantly worried about
it. More than service interruptions and other factors – unauthorized users
getting access to data strikes fear into the heart of potential cloud adopters.
However, because of their flexibility, potential cost
savings and ease of use, the allure of cloud computing is undeniable. So, what
to do? How can we have cloud computing platforms that inspire confidence
instead of instill fear?
It all starts with education. Everyone developing a
cloud-delivered service becomes, de facto, an IT architect. Users must
understand the risks and responsibilities in operating on a cloud, and follow a
set of best practices that they respect and incorporate into their daily routines.
Second, we have to think in a different context – it needs
to be more about securing information, rather than the security of physical
devices and locations. If the information is secure by its nature, it doesn’t
matter where it is, or what device it is on. The data has to be encrypted and
available only to those who need access to it. Putting the onus on the data owner instead of the cloud
provider is a good idea. Ponemon and CA released the results of a survey in May
2011 which showed that cloud providers didn’t make security their number one
concern. The majority of cloud providers believed it was their customer’s
responsibility to secure the cloud, not theirs.
Finally, this leads us to the importance of knowing and
trusting the cloud vendor and the country the hosting data center operates in.
Depending on the location of the data center, there are possible data rights
issues and disruptions caused by political unrest, infrastructure issues or
natural disaster. In the end, you’re investing not only in the cloud provider,
but in a country as well.
The IBM Center for Applied Insights has been working with IBM’s VP of IT Risk to develop a series of eight articles on Security Essentials for CIOs, based on IBM's own experiences. The latest, the third in the series, is about what it takes for an enterprise to develop a secure cloud computing strategy.
Just like our State of Smart research has shown that outperforming organizations listen (and anticipate), Amgen CEO Kevin Sharer shows us that listening is no less important for leaders. Interestingly enough, this was something he picked up from Sam Palmisano. Sharer points out that listening with the sole goal of understanding or comprehension, is the greatest sign of respect you can extend to others. As a leader within your organization, do you listen with the sole goal of understanding? And perhaps more importantly, does your company listen to its customers with that same mindset?
Welcome to another State of Smart industry deep dive.Today we’ll be taking a look at the Chemical
and Petroleum industry.I’ve been
looking forward to writing this post for a while now.We came across some data points when we
looked at unstructured data that initially were surprising but actually make
quite a bit of sense when you think about it.
Let’s take a look at the data, shall we?As you can see, 39% of C&P companies
surveyed fell into the “Outperformers” category, having both high Listen and
Anticipate capabilities.Very few
companies reported to have high Anticipate and low Listen capabilities (which
makes sense if you think about it).
Overall, C&P companies are very good at Listening, with
59% having a high Listen capability.Simultaneously only 42% have a high Anticipate capability.
So as you might expect, C&P outperformers are really
good at capturing data.When we dig a
little deeper into the data, we find that 70% of Outperformers capture data at
every customer interaction.That a
little less than 1.7x more than the Others.
When it came to unstructured data however we found something
really interesting.Initially, I wasn’t
expecting C&P companies to spend a lot of time and effort capturing
unstructured data.However, we found
that 55% of the Outperformers in fact did so.They were 2.1x more likely to capture unstructured data than the Others.
This was surprising in a couple of ways.First, we didn’t expect so many C&P
outperformers to capture unstructured data (they were 4th out of 9
industry groups).Second, we didn’t
expect to see such a large gap between the Outperformers and Others (this was
the largest gap of any industry).
So what exactly are C&P companies doing with
unstructured data?Well to begin with
they’re looking beyond social media to things like weather/climate data,
economic forecasts, and international political data.It makes sense.Many of these companies operate in volatile
regions of the world, or rely on raw materials that come from those volatile
In that context, being able for example to actively monitor
or even predict civil unrest, or predict the path of a hurricane is vital to
maintaining operations.So while at
first glance, you might think that C&P companies don’t have much use for
unstructured data, in fact successfully leveraging unstructured data can be
quite critical to their business.
Our research also showed that 78% C&P Outperformers then
empowered employees to take action based on analytics.They were 2.1x more likely to empower their
employees than the Others (the largest gap of any industry).Again this makes a lot of sense.What good is developing insight if you don’t
allow your employees to act on it?
We saw that 75% C&P Outperformers shared their insights
with suppliers and business partners compared to 41% of the others.C&P companies often have complicated
supply chains and sharing insights can help mitigate a number of risks.
Looking at where C&P Outperformers realize value from
analytics, we found that 47% used analytics for risk management (1.7x more than
the others – again this was the largest gap among the industries).Given the capital intensive nature of many C&P companies’
operations, this makes quite a bit of sense.It also seems logical from a health and safety perspective when you
consider the impact (both environmental and political) and high level of
visibility that incidents within this industry can have.
That’s it for today’s discussion of the Chemical and
Petroleum industry.As always, please
feel free to send me an e-mail or leave a comment if you have any
questions.In my next installment, we’ll
take a closer look at the healthcare industry.