MarketsandMarkets™ hosted its third Global Customer Summit at the SRI International headquarters in Silicon Valley. MarketsandMarkets™ recently completed 10 years in business, ushering in a revolution of revenue impact for clients over the last decade.
The slogan of the event was ‘REV’olution – the Path to Revenue Impact and centered around emerging as well as disruptive technologies and opportunities expected to dictate the revenue mix of companies. To gain a competitive advantage, it is important to understand not only how market disruptions will impact a business, but also how they impact a client’s business and a client’s customers.
Many of our speakers at the summit were customers who experienced first-hand disruptions to their businesses caused by an ever-growing set of ‘unknown unknowns.’ As revenue transitions from one area of business to yet-to-be-defined areas, understanding where one’s revenue, one’s customers’ revenues, and customers’ customer’s revenues will develop is critical in building effective long-term growth strategies.
A key ingredient in the MarketsandMarkets™ ecosystem is its interactive dialog on connected markets and the revenue impact that the company facilitates. True to the term collaboration, our ConnecTED speakers were concise and thought-provoking. We also organized panel discussions to encourage our clients to discuss and debate challenging but relevant issues that were both pragmatic and intellectual.
Additionally, our participants downloaded Attendify, an interactive conference app that allowed them to respond to poll questions, the results of which were displayed at various points during the event. It also allowed them to chat and post pictures and impressions of the event. To support this overall interactive format, we made it an exclusive event, with 100 attendees. We express our sincere gratitude to our customers for their active participation in making our third Global Customer Summit a tremendous success.
Day 1: MAY 3, 2019
Lisa Whalen [Global Head of Marketing, MarketsandMarkets™] kicked off the event by welcoming the guests and introducing Sandeep Sugla, the Founder and CEO of MarketsandMarkets™ and Shelly Singh, its COO. Sandeep and Shelly thanked everyone for attending the Summit and spoke about how our customers are experiencing firsthand the disruptions to their businesses caused by an ever-growing set of ‘unknown-unknowns’ as revenues transition from current core areas of business to as-yet undefined areas. Understanding where your revenues, your customers’ revenues, and customers’ customer’s revenues, as well as your vendors’ and vendors’ vendor’s revenues, are emerging from are critical in building effective long-term growth strategies. Sandeep and Shelly asked the audience to consider their un-met intelligence needs and explained how MarketsandMarkets™ could join the journey of insight alongside them. They assured the audience that the two days would be fun, enlightening, and informative.
ConnecTED Session 1 – Leadership ‘REV’olution: Leading from Where You Are to Where You Want to Be
Dr. Bill Mitchell [VP of Business Operations North America, Foxconn, and CEO of Aguila International (a Foxconn Company)] spoke inspirationally about five areas that must be constantly balanced across a person’s professional as well as personal life to ensure success.
Discussion Panel A – Validating Investment Decisions in Connected Markets Amid Disruptions from Outside Industries
On the first day, our panel discussed how businesses can navigate the disruptions and evolution of adjacent markets that impact their internal business decisions and how these may affect their future business as well as create potential future markets and unanticipated revenue opportunities.
Will Polese [Vice President, MarketsandMarkets™, Japan] moderated the discussion on emerging trends and shifting revenues and how companies can assess disruptive technologies and their impact on the ever-changing business environment and then effectively place their bets on a future that rests on building a new base of revenues to supplement a shrinking core set.
ConnecTED Session 2 – Applying a ‘Jobs-to-be-Done’ (JTBD) Framework in Designing and Insights Approach
Ron Dombrowski [VP, Market Development, Cognitive Solutions, IBM] shared IBM’s Market Development and Insights (MD&I) Group’s approach to applying a JTBD framework in crafting its insights approach. This approach helped IBM’s MD&I Group analyze and segment its internal customers to transform its approach to delivering market insights.
ConnecTED Session 3 – Next Generation AI Design
Following a refreshment and networking break, Manish Kothari [President, SRI International] kicked off a lively discussion on symbiotic design.
Given the increased prevalence of AI in all forms, a shift of corporate ownership of AI from a platform-oriented focus of CIO/CTO offices to a more product- and commercialization-oriented focus of business units is being observed. Dr. Kothari highlighted several examples of how next-generation AI design aspects are facilitating this transition
Discussion Panel B – Building and Leveraging Ecosystems to Adjust to Dynamic Market Changes. Can This Best be Done Internally or Through Leveraged Partnerships?
Vineet Chhatwal [Chief Delivery Officer, MarketsandMarkets™] led a stimulating panel discussion on assessing the need to leverage partnerships and collaborations to successfully navigate the complexity and convergence of ecosystems. Balancing the deployment of internal expertise and action with collaboration and deciding on an optimal approach based on various challenges was also discussed in depth.
ConnecTED Session 4 – Unleashing Digital Benefits in a Company with Industrial Roots
Jennifer Shulze [Head of Product and Revenue Marketing, GE Digital] led a lively discussion on how organizations can stay ahead of the curve by combining data and digitization with operational and organizational improvements to deliver game-changing business results. Jennifer shared insightful anecdotes on breaking down siloes and organizational complexity that have helped form best practices in this process.
ConnecTED Session 5 – Digitization of Smart Cities and Critical Infrastructure
Munish Khetrapal [CTO, Global Public Sector, Cisco] wrapped up the ConnectTED sessions of the first day by sharing his experience in transforming complex, congested urban environments into smart cities by leveraging digitization combined with smart infrastructure.
The first day ended with a delightful magic show by Heather Rogers that tied many aspects of the first day’s discussions, such as revenue mix and convergence, into an entertaining demonstration. This was followed by a networking cocktail reception in the courtyard of SRI and a plated gourmet dinner. After this, a fireside chat with Jeff Russakow [CEO of Boosted, Inc.] hosted by Manjula Singh from MarketsandMarkets™ was on the agenda. Jeff had insightful notes to share on mobility challenges and innovative solutions.
Day 2: MAY 3, 2019
The second day of the Summit commenced with networking over breakfast at SRI International. Guests were welcomed back to the venue and dove into another interactive day.
ConnecTED Session 6 – Accelerate Your Cloud Strategy
Satish Iyer [VP of Products & Strategy, Hybrid Cloud, Hewlett Packard Enterprise] kicked off day 2 with a discourse on cloud transformation by describing the various stages of the journey as well as perspectives on leveraging an approach that is open, unbiased, and holistic—not to mention flexible and cost-efficient. He cited insightful use cases where HPE helped enterprises such as USPS, Mastercard, Phillips, Google, and Dropbox, among others, accelerate their hybrid cloud transformation. At the close of Mr. Iyer’s remarks, Shelly Singh joined him on stage to announce a strategic partnership between HPE and MarketsandMarkets™.
Discussion Panel C – The Curse of Information Overload and the Journey Towards a Single Source of Truth
Pavan Palety [VP, MarketsandMarkets™, Europe] moderated a panel on cutting through the noise of information overload and helping leaders sort through useful and useless information to surgically leverage the most impactful data and guide organizations to successfully navigate through it. Panelists made insightful contributions, such as the following:
- Internal and external information are different and hence, need to be carefully managed.
- Externally speaking, the customer is king as well as one of the richest sources of insight and information.
- Historically, misses occur not from not having information—the real challenges lie in employing an efficient framework to analyze and distill information and inspiring appropriate action
The panel also addressed how to overcome internal politics among various stakeholders who often have opposing opinions and compete for leadership buy-ins. Finally, the discussion touched upon how to incorporate creativity.
Unveiling MarketsandMarkets™ 360 Quadrants
Following a networking break, Sandeep and Shelly unveiled an exciting product, 360Quadrants, aimed at helping clients build their revenue impact strategies. 360Quadrants is a four-channel source of information and insight based on marketplace inputs and is set to disrupt the business intelligence world. Additionally, this new engagement model provides a custom-made combination of human-machine research and revenue impact support that leverages insights from the rich repository of thousands of research reports by MarketsandMarkets™ along with use cases, to help businesses understand their customer’s needs.
Discussion Panel D – The Journey from Strategy Design to Strategy Delivery – How to Transform Strategies into Real Revenue Impact
Aashish Mehra [SVP Strategic Accounts, MarketsandMarkets™] led the final discussion panel on assimilating the optimal convergence of the right information, talent, resources, tactics, and tools to not only create but also implement great strategies. The panel noted that identifying the optimal point of this convergence as well as being disciplined enough to exit when one misses the metrics are two tough challenges. It also discussed how full value chain views are critical, along with being instrumental in identifying risk mitigation as well as risk share.
From a cultural standpoint, the people element was acknowledged to be a huge challenge. ‘If you cannot bring them on board, it is not worth anyone’s time.’ The need to change incentives and behavior, and ensure people are an immediate part of strategy, was also discussed.
ConnecTED Session 7 – In Digital Transformation, ‘Economies of Learning’ are More Powerful than ‘Economies of Scale’
Bill Schmarzo [CTO, IoT and Analytics, Hitachi Vantara] wrapped up the program by framing the big data conversation, stressing that raw data is of limited value without refinement and curation, which can provide a 15x to 20x improvement in value. Bill addressed data multipliers and the associated monetization through selling it. He stressed that priority and process are key in accelerating time-to-value with data leveraging and the benefit of properly repurposing the same data to help RoI skyrocket for each successive use case. Bill closed by stating that data is the new sun (renewable), not the new oil (depletable).
To close the event, Vijay Khera [Head of Global Client Services, MarketsandMarkets™] thanked the audience for their interactive participation and invited attendees to enjoy lunch, continue networking, and take a guided tour of the SRI International campus.
We at MarketsandMarkets™ would like to work with you to uncover new opportunities in an increasingly complex market and ecosystem. With the ongoing adoption of KnowledgeStore and 360Quadrants, we look forward to furthering our relationship with you and your organizations and hope everyone enjoyed the ‘REV’olution.
