Data Analytics: Bringing In A New Level Of Detail And Visibility
The demand for data and strong data analytics continue to grow. As better tools and services come into market, the ability to get powerful analytics out to decision makers is becoming easier. Even with terms such as big data, our customers have new expectations for services and value added relationships. At Lockton, we use data analytics to bring an entirely new level of detail and visibility about our clients’ business, insurance market trends, and our own business trends.
Thoughts on how IT strategic planning supports organization-wide efforts to improve quality, cut costs and improve efficiency in the financial sector
Our strategic planning is an ongoing improvement process to assure that IT spending and priorities are in alignment with the business. Our plan includes bringing our global organization closer and unified as one team. Everyone in my position has the responsibility to improve quality, lower costs, and improve efficiencies. Beyond these we must also help mitigate risk and find new tools that help drive revenues.
Technology trends impacting enterprise business environment
In traditional software development, the two that come to my mind are cloud computing and mobility. For majority of us in the technology world, Cloud was just a new term for what we previously viewed as the network. But taken in its context, cloud goes further to challenge the need for traditional corporate investments in infrastructure and support. That was the old thinking when controls dominated how we design an support services. Today, if you have the access, security, controls, and functionality that your business requires, where does the service live really matter today? At Lockton, we have more than one third of our associates working in a totally virtual environment. Your own personal Lockton workspace is literally available from almost anywhere and from almost any device, anytime. On the mobility side, we are all in an incredibly fast-paced period with products and services continuously coming out.
At Lockton, we are reengineering the client facing experience by buying or building new services and technologies that truly differentiate Lockton and offer every client a closer, richer experience in their business relationship with us. We also see big opportunities with powerful social networking tools that help us collaborate and share across the organization and with clients.
Lessons learned and advice for fellow CIOs
I would offer several lessons. One is the power of listening. You can learn a lot if you listen to your business and your team. I tell people my job is easy. I hire great people – and I listen to them. A lot of people can do the first part but are lousy at the second. The next one is the ability to change yourself. It is the only true thing you control. At Lockton we are doing it differently today than we did last month or last year. You have to change in order to grow. So challenge yourself to think differently. Make tomorrow better than today. Our CEO has a saying that I love. “We are going to make mistakes – but we won’t make them for very long.” Lastly, a good friend gave me some early career advice: Keep a high degree of integrity, don’t take anything personally, learn the power of asking why, and always give your very best. All those points still hold true today.