We are bringing you session summaries from NPC 2017 in a series of blogs. This one is based on the session of Shashi Seth, Sr. VP, Oracle Marketing Cloud.
Shashi Seth, Sr. VP, Oracle Marketing Cloud was our first speaker immediately after the inaugural. He was rather excited to be at NPC Bangalore and share some of his insights with us. Before that, our Emcee briefly touched upon the success of products which only have a cloud presence.
The most important thing about innovation and we have often said it, is about building a certain culture which is supportive of this philosophy. In San Francisco about 10 years back it was a hellish experience to get a cab from the airport late at night. Rude drivers, exorbitant rates all added to the commuter’s woes. Then suddenly in 2010, things changed dramatically with the advent of Uber. Issues which hounded travelers suddenly became irrelevant. Lyft and Uber combined, employ over a million drivers today. Very few industries are known to have created 1 million jobs in 7 years. Then there’s the example of Google Home, which has changed lives beyond imagination. Simply by talking into the device, one can get the best of services in the comfort and confines of their homes without human intervention.
Some of the things that AI is able to do is simply remarkable. It’s not only solving big problems for us but adding finer details to our daily lives which makes it all so worthwhile. Boundaries are getting pushed and all this is being done with lesser people. Twenty-five years back NASA had in its rolls (including network of partners) about a million people. Today SpaceX is able to send a spacecraft with just over 10k people. Not to mention the massive drop in cost from 1 billion dollars to about 38 million $ today. The price point is also a critical parameter to be measured. Tesla is yet another example – a company which has been around for only 7 years is more valuable than GM. A single battery charge can make the car run for 280 miles. Innovation is certainly about fixing massive problems but at the same time there are numerous examples of small incremental changes being effected which have raised customer experience and expectation by leaps and bounds. As mentioned earlier – boundaries are getting pushed ceaselessly. He gave numerous other examples including those of Apple & Netflix. These are companies which not only disrupted the market but did not rest on their laurels. And, ever since they have continued to raise the bar and set new industry standards. Innovation, is far from a one-time exercise. Also, it’s not about “if” any more, it is an imperative and the question is “how”:
- It’s about smart talented PEOPLE who can get out of their comfort zone.
- CULTURE is about creating an environment where people are enthused about giving their best. Right down to the minutest detail – food being served, workstation design & benefits being offered.
- Focusing on DETAILS will bring in the “WOW” factor.
- Make sure you AIM for the MOON. Goals have to be stretched, even so that 70% of the target achieved would create high benchmarks.
- PERSISTENCE – it takes time!