500 NEWS

Mark Uria is CEO of Smart Media, visual merchandising experts and in-store innovators, and director at InfoSlips Connect, a software-as-a-service company focusing on delivering transactional documentation through various channels including email, the Web, mobile, and print. He is passionate about his work and feels there is nothing more fulfilling than being part of a team with similar interests. Having been involved in several start-ups, Mark is an entrepreneur at heart.

Describe your leadership style.
To allow members of the team to take initiative and own their roles, without micromanaging.

Your top tip to beat procrastination?
Do it. Eat your veggies first, starting with the thing you feel least like doing or that has the most work involved, and break things up into small tasks.

Favourite getaway destination?
There’s nothing else like sundowners on a game drive in the bush.

Who or what inspires you?
I’m inspired by music daily. And by people that have overcome personal tragedies or major challenges to accomplish the seemingly impossible. For instance, Amputee Xolani Luvuno who completed the full IronMan with 1 leg and a broken hand this April.

Your one wish for South Africa?
That corruption is eradicated and for all South Africans to live and thrive in a carefree, safe society.

If you could have any 3 people over for dinner, who would they be and what would you serve?
Tiger Woods, Ed Sheeran and Gary Vanerchuck. I’d do an outdoor braai in summer, catering for everyone’s preferences. Sharing a good bottle of tequila.

What five pieces of advice would you give to aspiring young business starters?

What is the one thing most people don’t know about you?
I’m passionate about new technologies.

What would you do with an extra hour in your day?
I would volunteer or spend the time helping others.

Reshaping the African dialogue with collaborative technology and innovation

By Chris Ogden

One of the biggest trends predicted for 2019 is the move towards collaboration and collaborative platforms to drive business success. This is, in part, powered by the disruptive revolution where technology has walked into markets, stirred the sediment, and left muddied waters behind. It is also, particularly in the African context, driven by the need to leverage off accessible and relevant platforms in order to further specific business objectives. Large organisations are increasingly looking to energetic startups as the solution to their expansion or legacy challenges. These agile and nimble young companies are already embedded into specific markets and, by dint of location and specialisation, bypassed many of the complexities that organisations face when they shift their attention to the African continent.

In the PwC 2017 Global Fintech Report, the company found that around 82% of organisations concerned with new fintech disruptors emerging into the market were now taking steps to collaborate with these emergent companies. The goal was to be a part of the disruption rather than a victim of it. While not exactly in the spirit of ubuntu, these concerns are relevant across market and industry and very likely herald a trend in terms of collaborative engagements globally, but in Africa there are other factors influencing this movement.

The first of these is, of course, access. Access to funds, markets and infrastructure. These challenges can be more easily overcome through collaborative efforts designed to mitigate risk and reward investment. Collaborative financing platforms have started to flex their African muscles more confidently. Uprise.Africa, M-funding, and Drofund are African-built crowdfunding platforms dedicated specifically to businesses, entrepreneurship and digital funding. Drofund grants users access to business opportunities through the use of Bitcoin in Kenya, M-funding is focused on social impact startups in Nigeria, and Uprise.Africa has already gained significant traction as a startup funding platform in South Africa. Already, the latter has seen more than 159 applications for around R1 billion in funding and has launched one successful startup – Drifter Beer.

Crowdsourcing for capital far outstrips the complexities inherent in raising capital through traditional methods and it bypasses geographical boundaries with ease. Organisations across Africa can launch their ideas and have a real chance at making them into a successful reality. Some platforms, such as Uprise.Africa are selective in who they allow on board which offers reassurance to investor and entrepreneur alike.

This level of collaboration is inherent in the African DNA. The shared economies concept that sees organisations and individuals work together to achieve more within a complex environment. It not only presents an opportunity for the enterprise to find and invest into high-growth startup potential, but it allows for deeper innovation that’s relevant and potentially has global legs. Whether the support is financial, infrastructural or providing mentorship, technology is allowing for organisations of all shapes and sizes to connect the dots and claim new markets. This is how Africa gets to stand on the global stage, by harnessing collaborative opportunity through technology and leveraging this to drive growth.

Like Collaborative Africa – a piece that examines how technology has transformed the collaborative capabilities of African business. The piece would examine the rising trends and potential of crowdsourced data, crowdsourced financing and collective efforts to address opportunity and risk.

Connecting the dots of a simple CX strategy process

Customer Experience (CX) has long been the buzzword globally, due to being identified as a key opportunity for growth in any business. Research proves that customers no longer primarily base loyalty on price or product, instead they stay loyal to companies because of the experience they have with them. Gartner predicts that this year, more than 50% of businesses will redirect their investments to customer experience innovations.

The question for many business leaders however remains – where do we start with an effective customer experience implementation roll-out process?

To find out more, we had a conversation with Lynn Baker, a self-confessed customer experience fanatic and owner of CX Connexion, a consultancy that advises on customer experience. Lynn has spent the last few years immersing herself in identifying the factors of cx that increase sales, reduce customer churn and drive brand loyalty. Her fascination with the concept has taken her around the world, from Disney to Dubai, doing CX Masterclasses, attending CX Summits and spending hundreds of hours studying with the CX University to obtain her Customer Experience Specialist Certification (CXS).

In 2018, Lynn was invited to Judge at the inaugural International Customer Experience Awards held in Amsterdam, where she had the privilege of Judging presentations on CX Strategy design from some of the most successful businesses in the world. In January 2019, Lynn was again a Judge at the Gulf Customer Experience Awards in Dubai, where she judged in the ‘Employee Experience’ and ‘CX Retail’ categories.

Through her own consulting experience, Baker has learned that all clients want is to understand how to implement a customer experience process in a simple, understandable and measurable way. “For a long time, the pieces of the ‘how to’ of a customer experience process eluded her, as it does with many executives attempting to navigate this field. It wasn’t until I was asked by a client “please explain to me in simple terms, how I roll-out a CX Strategy in my business’ that it finally became clear.

“I remember thinking at the time, that my client didn’t want to be overwhelmed with the complex and confusing jargon that typically surrounds a customer experience conversation. All my client wanted was a simple explanation of where to start with the process of a customer experience strategy and how to drive it through his organisation effectively.” she said.

This epiphany has been the greatest learning she has taken from her travels around the world. Every leader knows that they must change their business to being customer focused, they are just now sure ‘how to’. “I have therefore spent some time consolidating everything I have learned about CX into a simple customer experience roll-out process that every business can follow. Although some seasoned CX professionals may not like that I have simplified the concept to this degree, this is for those executives who just want to get an understanding of the concept; of where to start and how to implement a customer first culture in their organisation,” she said.
Baker offers a few key points to consider in this process.

The 7-Stage Customer Experience Strategic Roll-out for the uninitiated

An exceptional customer experience cannot be delivered without equally as much focus on improving the employee experience. The two are integral for the success of any CX strategic implementation to succeed. Therefore, each stage of this CX strategy must be designed with two key focus areas in mind; the employee experience and how that supports the customer experience.

STEP 1 – DECIDE: EXECUTIVE & EMPLOYEE BUY-IN & COMMITMENT
Introducing a customer focused strategy requires an overhaul of all the policies, procedures and processes throughout an organisation, it is therefore imperative that every person in the company is onboard with the changes that will need to be made.

STEP 2 – DISCOVER: SITUATIONAL ANALYSIS – WHERE ARE WE NOW?
If we don’t know where we are now, we won’t get to where we want to be in the future! Do an analysis of the current customer experience by gathering all the information and customer feedback data you can, to clearly identify how the current customer journey looks, feels and is perceived by the customer. The same is true for the employee experience.

STEP 3 – DEFINE: GAP ANALYSIS – WHERE ARE THE OPPORTUNITIES FOR IMPROVEMENT?
Having gathered information and data on the current experience, take time to identify gaps that provide opportunities for improvement. This stage can often be overwhelming, so as a starting point, make a list of all the current pain points and challenges, knowing that they will all be addressed in time, but initially only identify three quick fixes that can be implemented immediately.

STEP 4 – DEVELOP: IDEAL EXPERIENCE DESIGN – WHAT DO WE WANT TO DELIVER IN THE FUTURE
Once you’ve addressed the key pain points of the current customer journey, take time out to ideate what the ideal customer experience should look like in the future. Begin with the end in mind! Consider how your business, products or services could add more value to your customer in the future and map out what the ideal customer experience should look like in future.

STEP 5 – DESIGN: CHANGE MANAGEMENT PROCESS – HOW ARE WE GOING TO GET THERE?
Change is never easy, but it can be fun, so make it fun! Cultivating a customer first culture requires that you focus on three key aspects:
• PEOPLE – What do employees need to know and learn to deliver the ideal experience?
• PROCESSES – How can we improve or simplify processes that support employees to deliver the ideal experience?
• TECHNOLOGY – How does our current technology ‘enable’ employees to deliver the ideal experience? What technology do we need to design or procure that will deliver a seamless experience for our customers?

STEP 6 – DELIVER: LAUNCH A CX CAMPAIGN – HOW DO WE SUPPORT THE CX INITIATIVE
Like any objective, what isn’t documented, doesn’t get done! Design and deliver an internal communications campaign for the whole business, that continuously reinforces the company’s commitment to delivering on its brand promises.

STEP 7 – DEEP DIVE DATA & DELIVERABLES: HOW DID WE DO, WHERE TO FROM HERE?
This process to date would have taken a few months, but it will all be in vain if management do not deep dive the data to establish if deliverables have been met. In fact, deep diving customer and employee feedback should be a KPI for select individuals, who are tasked with continuously monitoring customer and employee feedback and create a closed loop system to pain points. If you follow this process, you will be well on your way to creating what is commonly referred to as an ‘inside-out’ company, one that focuses on customer and employee needs and builds an agile business that is committed to delivering an exceptional customer experience.

The darling of Plettenberg Bay hospitality, the eponymously named The Plettenberg, has updated its old world glam in a recent refurbishment. The five-star Liz McGrath Collection hotel has overhauled its newly renamed Garden Room, Blue Room and Villas to embrace contemporary cachet whilst retaining tasteful charm.

Situated on a rocky headland, The Plettenberg is gifted with the most spectacular site overlooking the ocean and offers the best 270-degree view in the bay. It was the site itself that provided the inspiration for the new interior direction. One of the main aims of the revamp was to bring the Garden Room and Blue Room up to the minute and create continuity throughout.

The interior redesign was headed by the daughters of the late and much-loved Liz McGrath, Lesley Kelly and Susan Nathan, who co-own the hotel along with their brother Michael McGrath, the Liz McGrath Collection’s current chairperson. Lesley and Susan add their aesthetic style to all three of the group’s hotels, including the Marine in Hermanus and the Relais & Châteaux Cellars-Hohenort in Constantia. The duo has had extensive experience in interior design through developing their own luxury properties and from their many years of travelling and experiencing other five-star hotels around the world, and have lent their expertise to crafting the new look at The Plettenberg.

The aptly titled Garden Room looks out on to the natural fynbos and rocky coastline of the “garden route” as well as the cultivated hotel garden directly beyond its windows. The focal point of the room is undoubtedly the magnificent view from Robberg to Nature’s Valley and the mountains in the East.

The room was previously decorated in a more subdued style that, according to the sisters did not do it justice. The new direction they undertook entailed uplifting the fabrics and accessories and the addition of a striking botanical wallpaper that makes an undeniable statement in the room. It provides a bold counterpoint to the sea view that surrounds it.

The sisters wanted to create a feeling of “the beach, the sea, vibrant life and a huge vista. It’s a special room to soak up the view of the beach, mountains and ocean, so a strong wallpaper was selected and accentuated with white pots and lush indoor plants, and cream sofas with lovely turquoise cushions,” they explain.

“We work with all the top fabric houses in the country – Mavromac, St Leger & Viney, Black Fabrics, Home Fabrics and Halogen,” the sisters state. “We had a particular success with Gail Butler from Halogen on this refurbishment project,” they acknowledge.

The revision optimises the room’s incredible assets and the end result is a peaceful space to enjoy High Tea, cocktails, or a light lunch. Day visitors are most welcome to make use of the room, which is equipped with WiFi.

As for the update to the hotel’s other common area known as the Blue Room, the sisters wanted to create an inviting zone to relax in that carried a dynamic sense of life and leisure. A striking and strident blue now sets the tone here.

“We decided that because The Plettenberg has the most spectacular site overlooking the ocean, we would introduce the wonderful colours of the sea and the Plett skies. These same colours are reflected in the suites and rooms throughout the hotel, where turquoise tones and blues prevail.”

“We decided that because The Plettenberg has the most spectacular site overlooking the ocean, we would introduce the wonderful colours of the sea and the Plett skies. These same colours are reflected in the suites and rooms throughout the hotel, where turquoise tones and blues prevail.”

Although the Blue Room doesn’t have a sea view, it immediately feels fresh, modern and inviting. The cool, contemporary look-and-feel is in complete contrast to the older antique English appearance it had previously.

Away from the all-access rooms, the new interiors of the private Villas are awash with the hues of the ocean and offer stand-out views over the bay. Here, calmer and more soothing sea tones predominate.

In total, the entire redesign took eight weeks to complete and the Villas are now open for booking. The successful revitalisation of the hotel in this inviting contemporary language has reconfirmed The Plettenberg’s reputation as one of the standout destinations of South Africa’s East Coast.

By Refilwe Maluleke, Managing Director at Yellowwood

In the film “Field of Dreams” an out-of-luck farmer played by Kevin Costner sees a vision for a baseball field in his cornfield. He builds the baseball field from his vision spurred by the voice telling him that if he builds it, “they” will come. Before long, dead baseball players take to the field and Mr Costner’s character wins all his detractors to his vision.

The same adage applied to business hasn’t seen such a happy ending and has proved to be one of the biggest marketing fallacies of all time.

Ford invested some $400-million in its Edsel model introduced in 1957 and taken off the market three years later as it literally didn’t go anywhere. Americans in those days were looking for smaller, more fuel efficient cars. In the 1980s, RJ Reynolds experiment with smokeless cigarettes actually went up in smoke along with its $325-million investment.

Despite mounting evidence, the world of business is replete with examples of companies that aim for the same happy ending as the movie, failing to realise that movies have one director that decides how it must end while in the real world every customer is that director.

Netflix uses an army of designers, data scientists, and product specialists who control algorithms that recommend content to its users around the world. The team analyses how subscribers click, watch, search, play, and pause, and uses the data to fine-tune the company’s mostly invisible personalisation technology that decides which titles appear on your Netflix homepage.

Traditionally, brands segmented their markets using demographic and/or psychographic data, categorising customers in silos of Living Standard Measures and then used the lowest common denominator to inform their go-to-market strategy.

The world today is hyperconnected – any check-ins, relationship status changes, baby bumps and showers, bachelor parties, new holidays and memories all feed into algorithms that track you. No one is anonymous. Despite growing concerns around privacy, customers want to be treated as “individuals” and they are gravitating towards platforms and companies that understand and offer this.

The shift to a more individualised society that values experiences more than goods has resulted in a strong drive towards personalisation. People are taking longer to move out of home, choosing to get married and have children later if at all, and living longer, healthier lives.

These shifts have created the time and resources to lead a life much more focused on meeting individual needs rather than those of our families or employers. The rise of this more self-serving society has driven the application of technology to deliver much more personalised experiences.

In the world of advertsing personlisation lives on a broad spectrum, it can mean behavioural targeting developed into a fine art by Google, the creative use of social data such as Facebook, the kind of collaborative filtering practised by Netflix, or a combination of any of these. The risk is that human desires cannot always be accurately predicted by machines and inaccurate assumptions can easily exasperate customers. For example Urban Outfitters in the US experimented with simple gender personalisation showing women’s clothes to women and men’s clothes to men, only to find it ticked the annoyance box amongst women who also shopped for their husbands and boyfriends and vice versa.

If we look beyond advertising there are some very good examples of brands that are using data to drive a more personal experience for customers. Whether you want to inspire consumers to go and buy your product, provide them with an unparalleled experience or even go as far as customising that experience – brands are using myriad of approaches that push insight into actionable and achievable ideas.

NIKEiD for example allows customers to design their own products based on a wide range of options and have them delivered within 3 – 5 weeks. This offering is now extended to one of their other brands, Converse. This has required Nike to develop strong direct-to-customer (DTC) purchasing and delivery channels, something that had previously been handled predominantly by retailers. In 2017, DTC sales contributed as much as 30% to Nike’s revenue.

Another approach is to build customisable software into your products that can offer personalised advice. Oakley partnered with Intel to create the Radar Pace training sunglasses with built-in earbuds that respond to voice commands. They have a virtual coach that offers personalised data, guidance and encouragement during your workout. A significant benefit of this approach is that it builds credibility through demonstrable expertise in addressing a genuine customer need.

A third approach is to sell standardised goods but offer them in customised packages. A brand that has been doing this successfully is L’Oreal. In 2014 the company launched the ‘make-up genius’, an app using Augmented Reality (AR) technology to allow users to scan their faces and experiment with L’Oreal’s vast range of make-up products. Users can try individual products or complete looks, as well as make in-app purchases.

With over 20 million users globally and product trials up by more than 65 million in 2015, L’Oreal may not be making unique products for individuals, but the ability to customise a basket of goods, creates a feeling of personalisation. Commerce has followed customisation, as sales rose by as much as 36% in 2017.

Data is abundant and offers a world of opportunity, but brands have to earn customer data by providing a form of a value and a highly personliased experience is seen as valuable to customers. In deciding what to pursue brands need to evaluate the risk and rewards of doing it well versus getting it wrong – and, moreover, the risk of not doing it at all.

John Woollam is the CEO of Euphoria Telecom

Describe your leadership style
I adopt a democratic leadership style. I value input from each team member and do my best to ensure we give every person involved an opportunity to have an equal say in the direction of the different projects. I believe this provides a good platform for employees to learn, grow and develop their abilities. I also focus a lot on culture as our culture is key to our success. Culture drives through to every part of our business and creates an incredible customer-centric approach to delivery. I also believe that accountability is imperative as it empowers decision-making, creating natural initiative.

Your top tip to beat procrastination?
Do the hardest and most boring tasks first. Do them as soon as you get into the office, before you have your first coffee. Trust me, that coffee will taste better and be more enjoyable if you do it that way.

Favourite getaway destination?
Skiing in Europe

Who or what inspires you?
I am inspired by the team I work with at Euphoria, everyone is so committed to the business, our customers and, most importantly, each other. I love going into the office – the warmth, laughter and energy are so fulfilling. That atmosphere is a huge driving force in keeping me motivated.

Your one wish for South Africa?
Aaah, what a question, this place is my home and I love it. I wish that our leaders would have the courage to make the changes that are needed to ensure the quality of life of the majority and not just a small minority. This would obviously require rooting out corruption and enforcing accountability.

If you could have any 3 people over for dinner, who would they be and what would you serve?
Obama, Trump and Snoop Dog. I would definitely have a ‘make your own pizza’ evening.

What five pieces of advice would you give to aspiring young business starters?

1. Choose your partners very carefully.
2. Watch your cash flow – this will be the single quickest way to lose your business.
3. Set small achievable goals.
4. Don’t spend any money on things in the beginning
5. Build relationships with people in the same industry whether they are competitors or not.

What is the one thing most people don’t know about you?
I much prefer cold weather to warm weather.

What would you do with an extra hour in your day?
Exercise for longer.

Inspired by growing interest in unique culinary experiences and travel, global food trends have shifted towards the informal, with shared plates and a more relaxed attitude to dining out. While Asian cuisine such as food bowls and sushi remain popular, sparkling sake and dim sum bars are some of the latest restaurant specialities to come to Cape Town.

Known for its thriving foodie scene, the Mother City offers some of the most diverse and world-class restaurants enjoyed by both international tourists and local crowds. Adding to the mix is Asian tapas restaurant YU, which has just opened doors in up-and-coming business district The Foreshore, situated between Artscape Theatre, Cape Town International Convention Centre (CTICC) and numerous office hubs.

Headed up by experienced restaurateur and owner Rory Jossel, YU forms part of The Onyx, an apartment-style residential four-star hotel on the corner of Heerengracht and Walter Sisulu Avenue, which opened at the end of 2018.

YU specialises in contemporary Asian fusion and is open six days a week for lunch and dinner, for up to one hundred guests at a time. Menu highlights include Beef Short Rib Bao, Prawn and Butternut Dim Sum, Peking Duck and Soft Shell Crab with Sesame Mayo. Indulge in Sticky Ribs marinated in Soya and Sichaun pepper, Crispy Rice with Beef Wagyu Tartar – or why not try unusual sushi dishes like the Marinated Seared Salmon with burnt spicy mayo and crispy bits. Poke bowls and desserts such as Coconut and Passion Fruit Sago Pudding feature on the menu too.

While the quality food take centre stage, YU also boasts a bar and restaurant lounge, with a DJ booth for added ambience during special events – making it the ideal spot for after work drinks for professionals working in the area, or CBD commuters looking to skip traffic. The experimental can choose from Japanese Craft beers and a selection of Sake, or opt for a cocktail featuring flavours like Yuzu, Soju, coconut and ginger.

With two decades of experience behind him, Rory started out as a waiter in his cousin’s restaurant and has since worked his way to become partner on a number of established Asian contemporary restaurants across South Africa and even Dubai. “The key to any successful restaurant is simple – amazing food, amazing service and a warm, relaxed atmosphere where you can drink with friends,” he says. “Our menu lends itself to a sharing experience, it’s fine dining, but without the stiff three course meal.”

The name of the restaurant, “YU”, alludes to excellence and leisure, and the physical space was designed by Yaniv Chen and Leigh Fink from Master Studio, who took inspiration from early 1950s Yakuza meeting points.

“These spaces were unassuming and the interiors often derelict, but they were warmed up from the dimly lit interiors, rich dark velvets and warm timbers. We wanted to recreate the juxtaposition between imperfection and luxury.”

Look out for interesting textures, Japanese Matchbox art and an eclectic Octopus wall mural.

Rory also runs neighbouring restaurant MRKT, which serves the building’s hotel patrons and offers wholesome breakfast and lunch to walk-ins from the area. Both YU and MRKT form part of The Onyx, which boasts luxury hotel rooms, compact studios and expansive penthouses, complete with rooftop bar, spa and gym.

“When I was approached by the Newmark Hotel Group and Signatura Property Group to partner with them on the F&B offerings, I felt it was important to add two outlets which had a different feel,” says Rory. “MRKT is the breakfast and lunch restaurant specialising in coffee, fresh bakes and a curated retail space, while YU is the contemporary Asian tapas and bar concept.”

Offering ample free parking in the area, great service and positioned in an exciting new part of Cape Town city, YU promises to be an unforgettable food experience for your next date night, professional meet-up or fun evening out.

By Jenni Pennacchini, Business Solutions Director at KLA

For marketers, the key is to create opportunities for different perspectives to emerge
Instead of simplifying our world, technology has introduced far more complexity. Armed with computing power and internet connectivity, we now have instant access to unlimited information. Added to this, the pace of life and work has accelerated dramatically – leaving no space and time for reflection. Arguably, the furiously fast pace (coupled with data overload) is increasing the likelihood of bias thinking – and more specifically, for cognitive biases to creep into the majority of decision-making.

Put simply, a cognitive bias is a systematic error in thinking that affects the decisions and judgments that people make. That said, brands and businesses also display cognitive biases, which are often the result of marketers and strategists making swift decisions in order to stay in step with their high-pressure environments.

Missing what we are missing
So while technology may be hailed as a tool to delve deeper into information and data sets, the reality is that it may actually be accentuating bias thinking and reducing our pool of insights. For marketers, this erodes the ability to provide brands with transformative ideas, unique concepts and fresh thinking.

Take, for example, Big Data. Brands now have access to vast data sets that they can supposedly use to derive strategic insights. But where does one start? Most often by asking questions of the data, which are usually inspired by a hypothesis or set of hypotheses.

Here, we immediately create the risk of falling foul to ‘attentional bias’: we focus on what we have set up as important, and filter out what we perceive as extraneous. This is natural, but needs to be counteracted with strategies to manage the risk of ‘missing what we are missing’.

Indeed, without taking precautions, machine learning and Big Data can thus perpetuate and even amplify bias thinking.

New perspectives, new insights
Without doubt, if brands and businesses cannot counteract bias thinking internally, then the ability to innovate will lessen over time. Although biases are part of our world and always will be, marketers need to actively create opportunities for different perspectives to emerge.

Where to begin?
Here are some strategies to tackle bias thinking and to ensure that multiple viewpoints are considered.

1. Take a broad view of the ‘problem’ – understand consumer/customer behaviour from beyond the borders of your own category

2. Consider variables that may not seem to immediately impact the problem

3. Apply questioning techniques and thinking frameworks that can surface implicit as well as explicit dynamics.

4. Pay as much attention to what doesn’t work, as to what does. This is key when framing future solutions.

5. Actively seek out information that goes against your pre-existing beliefs.

6. Encourage diversity of thinking: we are more likely to see biases in others than we are to see them in ourselves.

7. Be vigilant and always consider what might be missing: think beyond immediate data sources and consider other sources of information!

A practical guide to harnessing business data – by Dirk Meerkotter, Business Intelligence Specialist at Turrito Analytics

With digital transformation firmly on the business agenda, South African executives are beginning to recognise the immense value of Big Data. The current business ecosystem, both locally and abroad, is characterised by disruption – and companies have to become increasingly agile and responsive in order to survive. To meet this challenge, forward-thinking business leaders are looking to Business Intelligence (BI) tools to harness Big Data and gain critical competitive advantage. Those who choose to overlook the insights and opportunities that data can provide run a huge risk of losing relevance in their respective industry or sector.

Indeed, some of the world’s most influential companies are relying on BI to keep them ahead of market rivals – and to provide unparalleled customer service. Take Amazon, for example. Amazon leverages BI to personalise product recommendations and to market products. (Any frequent user of Amazon’s e-commerce portals would already have benefitted from this capability).

Companies are also harnessing BI to improve internal efficiencies. For example, Coca-Cola’s business intelligence team handles reporting for all sales and delivery operations at the company. Using their BI platform, this team automated manual reporting processes at Coca-Cola, saving over 260 hours a year (more than six 40-hour work weeks).

Multinational package delivery and supply chain management company UPS ships more than four billion items annually using 100 000 vehicles. While it leverages BI in several ways, one of its most significant approaches entails extracting insights for fleet optimization. Combining on-track telematics with a BI solution enables the business to improve routes, reduce engine idle times, and even manage predictive maintenance on its vehicles.

From a customer data perspective, BI can help retailers with targeted marketing and other campaigns. The largest supermarket and grocery store chain in Australia invested heavily in analyzing consumer spending habits and improving online sales using BI. Extracting insights from its wealth of customer data, the retailer has been able to more effectively gauge product interest and customise campaigns accordingly.

More data inputs, more opportunity
Locally, as the Internet of Things (IoT) grows and develops, businesses are gaining access to more data sources. The IDC expects the global market for the Internet of Things to grow to $3 trillion by 2020, with around 30 billion connected devices expected in 2020. This figure is projected to grow to 100 billion in 2025. While there are no precise stats available around connected devices and IoT in SA, market analysts are predicting rapid growth in local IoT rollouts.

By definition, IoT networks create multiple connected data sources – and Data Science indicates that more data points provide better, more granular insights. With emerging IoT networks thus providing a higher number of data inputs, local businesses are gaining the opportunity to work with larger sets of data.

Applying AI to Business Intelligence
Another tool used when working with Big Data is artificial intelligence (AI). Essentially, AI uses computer systems to mimic various attributes of human intelligence. This can include everything from problem-solving, learning, and judgment. In recent years, many organisations have used AI to improve operations and deliver a better customer experience.

These implementations can range from the extreme to the more traditional. Take IBM’s Chef Watson, for example. At face value, a user submits the ingredients they already have at home, and the chef can create a recipe based on that. However, behind the scenes it uses AI to analyse data and overlay scientific information to put the machine-generated recipe on par with what the best chefs in the world would do.

For its part, global energy organisation BP applies AI to improve the safety and reliability of oil and gas production and refining. It uses sensors to relay the conditions at each site and improves operations by introducing an AI layer on top of its data to help scientists, engineers, and managers make more effective decisions.

Notably, Microsoft is using AI in conjunction with BI tools to study land-user patterns with terrain maps. This enables the company to build a digital dashboard that lets people monitor, model, and manage environmental systems at a scale previously not possible. With this technology, governments, organisations, and researchers can make better decisions around how to most effectively deploy conservation efforts.

Extracting the gold
Given the risks and complexity involved, businesses have to work with data analytics professionals and specialists in order to extract real value. In addition, with the technology and science behind Business Intelligence developing at a furiously fast pace, working with an experienced specialist enables businesses to stay up to date with developments – and also to remain compliant from a data security perspective.

Beyond ensuring data security, the right specialist will also look to fully understand the nature of the business in question (pain points, skill sets, market opportunities, etc.) in order to align the BI strategy and provide maximum business value.

In data we trust
As with any new strategy or business initiative, harnessing Big Data and BI effectively not only requires the right partner, but also the right mindset. Openness to new insights and change must come from the highest levels of business leadership and management.

On a practical level, when approaching the reporting requirements associated with BI it is important to mimic the reports that the business currently bases its decisions on. Then, once an element of continuity has been achieved, a foundation of trust is formed because the data that you see ‘can be believed’. This is a vital step, as the right data can expose or highlight areas of the business or internal processes that require a hard look. However, the ‘light bulb’ moment or realisation only occurs when you really trust the source of the information.

With a sluggish economy making organic growth almost impossible to achieve, business leaders have to embrace every facet of digital transformation to remain relevant.

Human behaviourist Dr John Demartini explains how to build an effective business profile that reflects your ultimate potential.

It’s a fact of life: you will receive exactly what you feel you deserve, no more and no less. Building your profile in business is no different. It is about allowing yourself to become a reflection of your ultimate potential. While many people promote specific techniques and strategies for getting noticed by senior peers and prospective clients, I believe that if you push yourself to be your own personal best, the people around you will start to admire and follow you.

When I was 17 years old, I met an inspiring 93-year-old man who changed my life. He did this by drawing out of me a profound and inspiring vision of my destiny that elevated my true worth and transformed my beliefs about what was possible for me. He taught me that when you can see it, you can be it. That extraordinary man gave me the affirmation, “I am a genius and I apply my wisdom”, and told me to say this every day for the rest of my life. Even though I was a near-illiterate young surfer at the time, I trusted him and diligently followed his guidance. I have never missed a day of saying that affirmation since then, and I know that this is one of the major reasons why I am where I am and who I am today.

What you believe and what you tell yourself have a tremendous impact on what happens to you and what kind of life you will lead. You create your own destiny. You write the script of your life with every thought. The greater your self-worth and love, the more prosperity and success you will achieve.

Self-worth builds both creativity and courage. If you have great self-worth, you will never have to worry about having a job, because people are spontaneously drawn to this quality and want to employ or work for those who have it. People who complain that the world is unfair or unjust because others have so much while they have so little create that particular situation themselves. Only they can change it. The world is fair; you receive what you give. If you’re not receiving in abundance, it’s because you’re not giving in abundance.

You either have results or excuses, and these are mutually exclusive. If you take responsibility for your life and ask quality questions about how to fulfill it, you become a magnet for opportunities. People and money are irresistibly drawn to energy, enthusiasm and certainty.

You are the master of what you love and the slave to what you don’t.

A few of the primary keys to becoming your best include having a clear intent or purpose, a truly inspiring vision, a grand message to share, a genuine social calling and a targeted niche to serve. From these initial basics arise the primary strategic objectives you would love to accomplish or achieve, as well as a plan for implementing them. But before these objectives can be met, you have to master your mind.

True business leaders are those who are congruent and integrated, and who can organise and lead their inner parts purposefully. Once leaders govern themselves, they can govern others.

What SA business owners need to know

IP Intellectual property (IP) is fast becoming an important asset class, and South African wealth managers have seen a growing interest, particularly as innovation in technology develops. However, IP often slips below the radar until its potential real value is realised.

“IP needs to be protected, particularly when the tax royalties that flow from it become more and more lucrative,” says Tim Mertens, Chairman of Sovereign Trust (SA) Limited.

Mertens explains that in certain circumstances it is possible to transfer, sell or assign IP offshore if done through the proper channels, and in line with the South African Reserve Bank. There can be advantages in considering low tax jurisdictions in countries such as Malta, Cyprus, Mauritius and Singapore where there are good Double Taxation Treaty networks and resultant regulation.

Typically, business owners are preoccupied with attention to profits, dividends from underlying share investments and brand building. “Yet it is the underlying know how, the innovative technology and the brand in the form of a trademark, copyright, patent or identifiable processes that can be the core foundations of a business,” says Mertens.

One of the most striking examples of IP in a tech-savvy world is software development which changes at an ever rapid pace. “What might be developed in year one, may look completely different in year three with add-ons and redevelopment as a necessary consequence of market demand.”

“In situations where there are legally acceptable opportunities for IP to be exploited offshore, it enables South Africans to expand their business internationally and to have access to global markets,” says Mertens. Building a compliant offshore asset base, enjoying lower tax rates, and being exposed to overseas markets are all extremely beneficial advantages to running a profitable business.

Sovereign maintains that the key lies in being able to identify potentially valuable IP early on and to structure it in a tax efficient manner. This is usually achieved by using company structures in jurisdictions with competitive tax advantages and a good tax treaty network. In this way, business owners can take advantage of exploiting IP in target countries, reducing resultant withholding taxes.

IP is an idea or design, by the person that came up with it and once a value is attached, it can be registered to ensure exclusive use. The owner then has exclusive use of the IP and the right to exploit it to third parties.

As an example, when IP ownership is registered in a Cyprus company, withholding tax on royalties paid can be reduced significantly – and in certain cases even eliminated. In addition, the corporate tax rate in Cyprus is 12.5%, and an IP holding company can apply for a special tax ruling after meeting certain requirements to qualify for a corporate tax rate of only 2.5%.

Malta also has a good regime where IP can be registered through a Maltese company and applied all around the world. In order to encourage the growth of international trade, Malta has put in place an impressive network of double tax avoidance agreements (DTAA’s) with important trading partners as well as with emerging countries. To date, there are over 50 DTAAs in place including countries such as Canada, USA, China and India.

When registering an IP holding company offshore, business owners need to comply with substance requirements. The company has to have an actual economic presence offshore. Factors to be taken into consideration include place of incorporation, non-resident directors and shareholders, non-resident bank account, web development, administration and where the IP was developed, just to name a few.

There is no doubt that intellectual property is a complex area of the law and there are various opinions on how it should be dealt with. “Structuring should be properly planned and coordinated and professional onshore tax advice should be sought so as to ensure proper tax and in some cases exchange control compliance,” concludes Mertens.

Jonty Fisher, CEO of Old Friends Young Talent, is a classically trained marketing strategist with close to 20 years of experience on both business-to-business and business-to-consumer brands. He is as adept at conceptualising savvy business strategies, as he is pitching out-of-the-box creative advertising strategies that will give his agency’s clients the edge. He has worked across multinational and local brands such as HEINEKEN, Jack Daniel’s, adidas Originals, KIA Motors, PwC, LVMH, Lindt and Prudential. Finding game-changing solutions in highly competitive categories is what makes him tick.

Describe your leadership style.
I lead by setting a very clear path, with clear expectations and then managing people in a human way along that path. I have an approachable, consultative style and try to help people be the best versions of themselves they can.

Your top tip to beat procrastination?
I try to actively manage distractions like social media, internet rabbit holes and casual office interruptions. And if needs be, I get out of the office to get deep work done.

Favourite getaway destination?
Any cabin in the mountains without cellphone reception.

Who or what inspires you?
I’m immensely inspired by people who have the freedom to be exactly who they are, whether they’re famous artists or young talent we have in our agency.

Your one wish for South Africa?
That we as South Africans focus more on what brings us together than what separates us. We have incredible people in this country and if we work together, we will achieve great things.

If you could have any 3 people over for dinner, who would they be and what would you serve?
I’m pretty hopeless at cooking so it would probably be a braai, and if I could invite anyone, I’d ask Steve Biko, Eddie Vedder and the mountaineer Reinhold Messner.

What five pieces of advice would you give to aspiring young business starters?

What is the one thing most people don’t know about you?
I can’t squint my eyes.

What would you do with an extra hour in your day?
Go for a walk on the mountain with my family. Every day.