{"id":43745,"date":"2019-11-28T11:29:18","date_gmt":"2019-11-28T11:29:18","guid":{"rendered":"https:\/\/www.intelligentcio.com\/me\/?p=43745"},"modified":"2019-12-04T09:54:09","modified_gmt":"2019-12-04T09:54:09","slug":"ibm-study-reveals-importance-of-trust-in-an-organisation","status":"publish","type":"post","link":"https:\/\/www.intelligentcio.com\/me\/2019\/11\/28\/ibm-study-reveals-importance-of-trust-in-an-organisation\/","title":{"rendered":"IBM study reveals importance of trust in an organisation"},"content":{"rendered":"\n<p><strong><em>An IBM study has revealed that 91% of leaders in the Middle East and Africa strongly believe data helps strengthen customer trust and bottom lines.<\/em><\/strong><\/p>\n\n\n\n<p>IBM\u2019s\n20<sup>th<\/sup> edition of its bi-annual C-Suite Study, <em>Build Your Trust\nAdvantage,<\/em> polled nearly 900 <a>C-level <\/a>executives\nacross the Middle East and Africa (MEA) to examine how companies in the region are\nachieving market leadership by <a>emphasising<\/a> trust in\ntheir use and sharing of data. <\/p>\n\n\n\n<p>The\nstudy, conducted by IBM Institute for Business Value (IBV) in co-operation with\nOxford Economics, found that market leadership is most frequently attained when\nan organisation establishes a high level of trust in the data from its\ncustomers, its own business processes and across its partner ecosystem.<\/p>\n\n\n\n<p>Through\nthe quantitative and qualitative surveys issued, it became clear there was a\nset of leaders\u2013 dubbed \u2018Torchbearers\u2019 \u2013 that stood out as understanding that transparency, reciprocity and\naccountability are critical ingredients for earning trust among key\nstakeholders. <\/p>\n\n\n\n<p>These\nleaders have a deep understanding that building trust in customer relationships\nis a strategic imperative and work hard to earn and maintain it. In fact: <\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>91% of leaders in MEA, compared to 82% of their\npeers globally, strongly believe data helps create a strategic advantage in strengthening their level of customer trust as well\nas their bottom lines. <\/li><li>Torchbearers in\nMEA also outpace their peers in the region by 48% in their capacity to respect\ncustomers\u2019 data privacy as a core competitive advantage.&nbsp; Globally, Torchbearers outpace their peers by\n22%.<\/li><\/ul>\n\n\n\n<p>&#8220;Today, data is considered one of\nthe most important assets that any organisation possesses,&#8221; said Hossam\nSeif El-Din, Vice President, Enterprise and Commercial, IBM Middle East and\nAfrica (MEA). &#8220;Not only does data have the power to differentiate\nbusinesses from their competition but transform entire business models.\nAccording to the recent C-Suite study, we are seeing that the majority of\nleaders in our region strongly believe data helps create a strategic advantage\nin strengthening their level of customer trust as well as their bottom\nlines.&#8221;<\/p>\n\n\n\n<p>While the study focuses on the need for transparency on how\ncompanies handle customer data, it also highlights the importance of\ntrusting data that\u2019s within an organisation. Leaders in MEA were found to take great pains to ensure\nthat the data within its own walls is accurate and clean so they can\nleverage it to make the best-informed decisions on important business ventures,\nsuch as developing new business models and entering new or emerging markets. <\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>In MEA, 80% already\nextensively use data to develop new business models, compared to a global\naverage of 70%;<\/li><li>While 73% already use\ndata to make informed decisions on entering new markets, compared to a global\naverage of 66%;<\/li><li>70% of C-suite\nexecutives in MEA believe that automation of decision-making processes will\nincrease in their business landscape over the next two to three years, compared\nto 65% of their peers globally.<\/li><\/ul>\n\n\n\n<p>The\nstudy also revealed an emphasis on the importance of creating trustworthy\necosystems. Data that simply stays within the organisation is more likely to\ndrift out of date than to grow in value. Leading organisations are liberating\ntheir data while simultaneously de-risking data exchanges in a shared ecosystem\n\u2013 allowing it to circulate widely, without sacrificing their responsibility to\nsecure permissions and safeguard it. <\/p>\n\n\n\n<p>While\nthe study provides the guidance that companies should always practice\ntransparency, reciprocity and accountability when handling data and engaging\ncustomers and business partners, other recommendations include:&nbsp; <\/p>\n\n\n\n<ol class=\"wp-block-list\"><li>Strengthen\nrelationships with customers by becoming trusted custodians of personal data,\ndemonstrating transparency by revealing data about offerings and workflows, and\nusing the trust advantage they\u2019ve earned to create differentiating business\nmodels.<\/li><li>Build\nconfidence in data and AI models enterprise wide. Stimulate a culture of true\ndata believers and data-based decision makers, and in turn, elevate experiences\nfor customers and partners along their value chains.<\/li><li>Learn\nhow to share data on business platforms without giving away competitive edge.\nTurn the corner from amassing data to determining how best to <a>monetise <\/a>it, including how to build ecosystems to\ncreate new exponential value.<\/li><\/ol>\n\n\n\n<p>Access\nthe full study findings here: <a href=\"https:\/\/ibm.co\/c-suite-study\">https:\/\/ibm.co\/c-suite-study<\/a> <\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>An IBM study has revealed that 91% of leaders in the Middle East and Africa strongly believe data helps strengthen customer trust and bottom lines. IBM\u2019s 20th edition of its bi-annual C-Suite Study, Build Your Trust Advantage, polled nearly 900 C-level executives across the Middle East and Africa (MEA) to examine how companies in the [&hellip;]<\/p>\n","protected":false},"author":18,"featured_media":43747,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[93,809,3629,54,13,79],"tags":[1063,4085,1544,10756,464,562,1186],"class_list":["post-43745","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-main-story-newsletter","category-more-news","category-newsletter","category-research","category-top-stories","category-used","tag-africa","tag-c-suite","tag-data","tag-hossam-seif-el-din","tag-ibm","tag-middle-east","tag-survey"],"acf":[],"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/posts\/43745","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/users\/18"}],"replies":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/comments?post=43745"}],"version-history":[{"count":4,"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/posts\/43745\/revisions"}],"predecessor-version":[{"id":43755,"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/posts\/43745\/revisions\/43755"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/media\/43747"}],"wp:attachment":[{"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/media?parent=43745"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/categories?post=43745"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/tags?post=43745"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}