Like most fads crossing over from the US, Black Friday has made its way across the Atlantic and onto European shores. This US shopping phenomenon, which falls on the Friday after the Thanksgiving holiday is devoted to firing the metaphorical starting pistol for the retail industry’s busiest trading period of the year. Despite the absence of a formal holiday, this bargain hunting break has been adopted by UK retailers for around decade now.
“In the absence of advanced business intelligence and rich customer data, banks develop and deliver digital banking transformation initiatives in the dark.”
This was a moment of truth statement made by the CIO of a retail bank during our discussion on business transformation in the banking sector. Yet, many line of business managers shudder at the very thought of data warehousing. Blame it on unfinished, monolithic technology programmes that failed to keep up with business change and delivered poor value. These were issues faced way before the onset of the digital age with its even greater demand for responsiveness and agility.