Preparing for tomorrow's business challenges and opportunities
Big data, Oracle Fusion Applications, talent management and customer experience were all big themes at this year's Oracle OpenWorld. At the conference, Oracle executives and other experts explained best practices for dealing with today's work realities, including how technology can help businesses thrive now and into the future. Here, read their advice, such as how to prepare your company to meet customer expectation and deal with data, plus get additional insight from experts interviewed for Profit exclusives. Got advice to share or questions to ask about the future of work? Join Profit's Linkedin group to talk to other members of our community.
“In many industries, we're seeing virtual connections and relationships that are much stronger and better informed than physical relationships. For example, with the algorithms that Amazon and Netflix have on their customers, they know them better than the person at the corner market. This transition is not just at the customer interface; it’s also internal, and it has shaped how companies are managed and how they manage and deal with supply chain partners. As a result, all those areas of business will go through a sea change over the coming decade.” —Malcolm Frank, Executive Vice President, Strategy and Marketing, Cognizant
“A CFO can ask, ‘How am I going to present all that data? And what is it telling me?' You really need to ask, ‘So what?’ Before you build massive technology to report and store data, you need to know what the business purpose is.” —Dallas Clement, CFO of Atlanta, Georgia–based Auto Trader
“You can continue on your current path. You can also adopt a coexistence solution, or you can simply embrace the complete family of Oracle Fusion Applications. Either way, we are going to protect your investment. Now is the time to start thinking about how Oracle Fusion could be part of your three- to five-year roadmap.” —Oracle’s Chris Leone, senior vice president, Applications Development
“Your customers are a tribe waiting to happen. They're waiting for someone to communicate with them and let them communicate with each other, to connect them, to commit to where they're going, to create a culture around them, to challenge them to the next level and be clear about what's important.” —Seth Godin, best-selling author and founder of Squidoo.com
“All the new employees entering the workforce are so used to tools like Facebook and Twitter, blogs and texting. They are going to expect these same type of capabilities within the enterprise. They are going to expect to be able to reach out to other people and find information, to be able to learn and grow by asking questions and participating in discussion. If these capabilities don't exist, why would they be there? Work won't be very efficient for them.” —Jacob Morgan, author of The Collaborative Organization