AWS re:Invent 2024 - Unleashing Yanolja’s growth with a customer-centric transformation (INO106)
Hello, everyone. Good morning. Thank you. So, thank you so much for coming to, to the event. Thank you so much for coming to the session today. It's the first session of A WD in 2024.
We have a very special topic for our presentation focusing on growth and customer centric transformation. For those who may not feel familiar, Yana is a leading TTE company that started its experience in Korea and has expanded globally across over 200 countries. Today, we are going to share how Yuja is driving innovation by using emergency innovation mechanism and by leveraging a generative A I and data technologies. We have three speakers for our presentation today. First, my name is Ted Lee, part of innovation and transformation programs at AWS based in South Korea. Are we sharing emergency innovation mechanisms and how we have supported in their innovation and transformation journey? Next, we have Jeff Kim, the CEO of Yano cloud.
Jeffrey explain the details on the innovation and evolution and TTE industry that Yano is leading. Nas Akira, our enterprise transformation leader at Aws. We introduce some key transformation insights and close the presentation today. Yeah, we have Jeff Kim the CEO we are and we have a enterprise transforming. Thank you. Before we begin, I want to introduce what I'm doing here at Aws.
I am responsible for innovation programs who wait with customers across deeper industries by leveraging among culture and innovation, mechanic, gyms taking Yuja is only jumper. I have been helping them in developing new products and services that delight their customers. But we don't just do this in any old U A. We use a unique customer center innovation process to develop solution ideas and we don't stop at ideation. We value these ideas to the customer research for typing and support the entire enter proto type cycle including go to market strategies almost every day. I'm discussing very
exciting, you know, new challenges and opportunities with our AWS customers today, I'm here not only to share meaning pro Q want to the, but also inspire to create more success stories in the future. As part of a those innovation program, I have been, you know, meeting and discussing with the customers executives and pro teams almost daily. Over the last few years, our command keyword has emerged from these executives and ceos, it's uncertainty. This concern is particularly critical, not only, you know, especially for the tech companies like not only during the COVID-19 pandemic, but also in the post panem period. I often ask customer was how do you manage, you know, uncertainty in your organization? Here are three common answers. The first is the future flipping. The
based on our research, 76% of our seers anticipate their current based model will be unable in, you know, five years in this changing environment. It's crucial to, you know, quickly detect and respond to changes. The second strategy is urgent, upskilling upskill has become, you know, more important, especially for this case, previously, trainings in generative by data analytics, data science and software development was typically provided only to it step now companies like yo have upskilled, you know, not only it but also and product team members in artificial intelligence and data technologies is also planning to continue expanding its upscaling across across business product and technology teams.
The third approach is innovating at speed speed has become, you know, more critical in innovation to innovate quickly as you know, averaging technology is mandatory. So cloud technology is the optimal rapid implementation especially for the companies like driving data dial transformation. That's why many components including Asia are using cloud based solutions to experiment quickly and adapt to changes N DJ Amazon, you mentioned speed choice and he emphasized that it's more important to set up a culture and environment that enables organizations to speed up. I have identified the keywords here experiment all the time. The crucial part is that we need to create a culture and environment within our organization. What kind of a culture and environment? The key to our successful innovation as N DH our ceo emphasize is that we have set up a culture and environment within our organization where we can experiment all the time.
This is the key message I want to share with you today as well. So what kind of speed are we talking about? We conduct experiments to validate the customer problems or customer needs from the beginning. Once we have identified the validated customer problems, we idea better solutions to these customers needs.
Experiments also include validating which solution that serves our customers problems. And we don't start with val solutions. We continue experimenting to enhance usability and to improve customer experiences. Always striving to provide better services to our customers. At the center of all these experiences is the customer.
So our focus is always on meeting and exceeding the customer's expectations through continuous experimentation and improvement. When he started a those innovation programs, pooja and its revolution in the tech industries, we began by establish capabilities to experiment and within the organization. So we engage the Yan customer research team to validate the customer's problems and customer needs.
And once we gain the deep understanding of customers', pain points needs and opportunities, we develop solution ideas that delight the customers at the center of emergency innovation and growth is a unique customer centric innovation process called walking backward mechanism. All the services and products from amazon.com ecommerce, over 208 services, Amazon Girl, Amazon Prime media to Amazon advertising services were all created using this walking back mechanism to explain this process. Simply taking
energy as an example. When its new product, the P team, you know, typically prepares press release for its lunch date. At a maj, we create APR at its initial planning stage.
Even before the product. I imagine the product at its launch, we ask ourselves, who is the customer? What is the problem or opportunity? What is the solution and what is the most important cost and benefits? And how do we describe the solution and the experiences to our customers? We create a one page P answering all these questions. In addition to APR, we create a AQS with two different categories.
Customers have pay QS and internet CAQ. We document all the possible questions and answers from both customers and internet stakeholders through the multiple iterations. We both documents validating them with the customers until the product launches. This mechanism ensures we have already aligned with the customers expectations and customers needs. What do you have done so far? You know, with the Yuja consists of three main steps.
First, it's important to align and engage with, you know, executive response also with energy to drive innovation within the organization. Early this year, Yano JIA and a innovation programs hosted Yano Innovation Day inviting Xiao including XX and X. We explained the ama's cultural innovation and shared the non this program not only shared the insights but also secure the commitments for the sponsorship of innovation and transformation programs. And second, we conducted walking back as a workshop to envision big Picture solutions for you know, just customers and created the P queues as I explained earlier. Third, we are currently developing innovative solutions by leveraging the full potential of gene and data technologies.
We ate it with sandwiches. Now I want to introduce our next speaker, Jeff Kim, the CEO of cloud JJ is gonna explain the details on the innovation and revolution in tech industries that is leading. Please join me in welcoming to the stage. Thank you. Yeah, thank you for great opening and introduction.
Today. I'm very happy to be here because about 10 years ago, we met Aws to transformation to make a transformation for our business. And five years ago on this stage of the event, we shared our vision in terms of the globalized business.
So I would like to share the progress we have made up to. Now. At the same time, I would like to share our achievement through the collaboration with Aws and with the new vertical A I vision. 10 years ago, we try to find out the best new innovative revenue model and the data architecture to the death. We told about the three major issues in travel industry. First suppliers like a hotel, leisure facilities, airlines depend on the manual process too much.
Second, data flow between supplier and consumer had been quite fragmented and complex. And third, these two issues caused lack of personalization over the consumer facing services, you may use the travel booking service and you may find out that every booking service interface features, data and content looks very similar. Why? Because of the data? So that's the keyword we would like to reserve. So I want to share what I told you five years on this taste of the re invent. So to realize the fully intersol solution to provide better personalization, uh actually we need to interact the data from the guest to hotel. But in the reality, this value chain is totally segmented.
The true reason why it's impossible to make a data flow in a frictionless way. So first, we try to understand how to integrate these processes across value chain. This is what I shared five years ago. And based on this idea, we try to think of the solutions. First, we try to develop the s in the other words, cloud based software for the supply and demand to collect the differentiated and comprehensive data points.
Second, user identification, we have had huge hassle and the friction when having a consumer facing interaction. So through the user identification, you would like to make a seamless data flow and the sea consumers experience in front of the consumer facing interaction. Third, we would like to leverage A I technology to realize the personalization to change why we have built three kinds of the original business models. First subsequent solution, which is the cloud based software to automate the suppliers, automation. At
the same time, it's possible to automate the inventory distribution as well. Second transaction solution, we are connecting between 1.3 million suppliers globally in 200 countries.
And at the same time, we are connecting with the one point 18,000 sales centers globally in 170 countries. Through this connectivity, we can provide S and frictions and streamline data flow. Third P two cot.
So we believe we made a unique position as a booking platform for the travel and leisure. That's what I would like to introduce today. So based on these ideas of three original business models, we would like to reserve the issue of data. That's what I shared five years ago as I share now. So ideally if we can connect all the processes across the value chain and all the touch points for the guests and the hotel like this, it's possible to make a data flow in friction is way.
But the problem is that it costs a lot incredibly. That's a reason nobody tries this kind of the integration up to now. But as of now, it's possible thanks to the Aws Crowd cloud is our innovation because before the cloud, it's impossible to reserve the issue of data friction. So as you can see here, we are connecting three original business models into data lake with the Aws technology. And based on this data, a we can use big data and data mapping technologies to launch the fourth new model of data solution. In other words, vertical A I service, you may remember COVID-19, COVID-19 is a big issue for every industries but especially travel industry had a big difficulties in maintaining the business.
Definitely huge decline in the demand and revenue for the suppliers. At the same time, it's very difficult to hire skillful labor. So without automation, it's impossible to sustain the business. Thanks to the preparation with the AWS, we could provide a new software in the cloud to automate our customers automation. They change why during the COVID-19 and right after the COVID-19 could globalize our business. At the same time, we could make a huge constant jump in number of our customers and in the to TV and the revenue and profit.
So this is about our. So we have three business models. Originally, the first one is about the subsequent solution to automate our suppliers. But the more important thing is that it's possible to collect comprehensive and different data point, differentiated data points from the supply. It is very important. At the same time, we provide a connectivity service between 1.3 million supplier and 18,000 sales channel in 200 countries.
The reason why we could make another innovation for our P two G service from the tea to the travel prep and finally daily prep. So we could make this kind of the evolution of our PT service as well. So currently you are doing the global business. We have
the offices in seven cities. At the same time, half of our employees are on Korean outside Korea. Also, we have a huge number of the customers in 200 countries. At the same time, we made a huge innovation in our service, I believe has a very unique position as a reading company across several value chains and several think about this is a reading player in the accommodation and the transportation including flight. At the same time, we are providing the entertainment and leisure and many kinds of experience categories for our consumers.
They tell you why you could make a quantum jump right after the COVID-19. As you can see these charts and currently monthly active user, the number of the mau is more than 24 million, which means almost half of the Korean population are using our service. Also thanks to the globalization, we could make a quantum jump in number of the customers.
We have two kinds of the customers for one is a supplier like hotel, airline and leisure facilities. Second one is all about the sales channel including global Ota's or the wholesalers, travel agencies and tour operators. As you can see here, we may choose the growth in number of our customers, especially in terms of the sales channel. We made 170 times growth in number of our sales channel customers.
Definitely it's very helpful to have a global footprint, I believe is very pure global company. In terms of the transition solution A P per is only 12% including Korea. In terms of the subsequent consultant, Korean portion is only 4%. The reason why we have a big portion from the APEC because the energy is the largest s the cloud based software provider in India. They told you why you could have
a bigger portion for our subsequent solution in India. And in a so we made a globalization. It's not easy if we can, we just take as a Korean local company without any collaboration with Aws and the other global supporter. I think it may be impossible to make a expansion geographically across several business models.
In this sense, we believe that it's very important to shift the culture and way of working. At the same time, it's very important to make operation in very scalable way to make a business in 200 countries, to provide a service for more than 1.3 million suppliers in 200 countries. Scalability is very critical keywords for us. Also, the speed is one of the most important one we are doing the innovative service.
We should disrupt this industry in the other way. If not, then I think it's impossible to make a penetration in global travel industry. In this sense, we should test in that sense, experiment is very crucial to make a quicker innovation. So this is why we try to collaborate with Aws. We try to learn from the Aws in three ways. First
culture of innovation, definitely second the product especially we believe that autonomous team is very important to maintain our global team members. We have 70 pieces in 30 countries and number of pieces has been increasing quite quickly. That means without autonomous team culture, it's impossible to maintain global team from the start up as a local company in Korea for the last 10 years. Thanks to this kind of the learning, we could make a globalization quickly. And Jordan is about the cloud architecture, not only about the globalization, I will introduce our vertical A I service to realize this service, cloud architecture should be our foundation.
So in this sense, I would like to explain how to make a consumer and customer centric innovation we made definitely the customer entry is the most important culture we would like to realize. So in this sense, these five customer questions are very important and this is not, this is not only about the one time question, we should repeat these questions again and again to define our business model and the technologies. So for example, is about A I based personalized platform. At the first time thinking of our business model, we found out that every interface for the pre trip looks very similar, the consumer doesn't have difficulties in making a booking. But most of the difficulties and concerns come from the on site and in trip experience. So we should reserve there are difficulties during the trip.
The situation, why we found out the ideas to provide the new service to address the difficulties during the trip. For example, the travel product recommendation is about the trip recommendation. It's not about the pre trip. So when during the travel, we could have an eternally over the cost of summer. It why they can have a very quick and instant recommendation during the trip. Another one is about auto generated personalized itinerary.
So we have collected choose the amount of the itinerary data from the customer. Based on this, we could advance our technology to share our recommended itinerary for each city. So these kind of services can be very helpful for us to have more than 24 million monthly active user only in Korea. Second is about the idea from the operator and receptionist in front of the hotel lobby.
You may check in for this hotel and you may wait for the check in process. Why? Because the session is should use the three interfaces separately at the same time, online data is not connected with on site operation. They change why you should wait for more than five minutes on average. But education here we integrate between the online and offline across the several interfaces like this. This is the interface for the decision.
You can see the chatting bar on the top, on the bottom. So please check in the mysteries. And according to the condition of the mysteries, we could show what kind of rooms available for the mysteries. And if you type the 105 then all the process can be done so it can shorten the waiting time in front of the lobby from the five minutes to the 1010 seconds. The other one is about the consumer facing experience. Besides the operation, I just showed two other operations are required. One is the
identification second is open card. You may remember you share your credit card for the some kind of issues like uh the minibar or some of the issues on your room. That's the reason why you should share your credit card when checking in. So we address the issues with this new kiosk. So we developed
this cloud based kiosk with the right os. So we work with the Samsung electronics to develop this software and hardware to address identification and the open card issue. Definitely this can address the issue for the working customer as well. And also we used the facial recognition recognition service at a very low cost because everything is based on the cloud, the Children. Why
you don't have to worry about kind of the cost to develop the advanced features like this. So these two for the recession is and the consumer can automate the whole process for the check in room service and concierge service. But on top of that, we are connecting with the other services for the hotel's operation, like the the concentrated the call center or we are connected with the housekeeping service with laundry and the amenity.
Also, we are connected with the security services. So everything can be connected based on our cloud based software. So definitely, I believe that this kind of the automation can be expanded into the first care level globally.
Last one is about the A I. So I took about three original business models of. We have built this business model for the last 10 years. But it's not our final goal.
We would like to build global data enablement platform to disrupt this industry itself. Because within five or 10 years, we will have a new gen A I like a G or A I that means we should be prepared to have a new interface. So in this sense, we try to advance our data architecture and similar to realize this. So I explained to the original models from the subsequent subscription solution to automate those suppliers and transaction solution to connect between 1.3 million suppliers
and the other 18,000 sales channels in 200 countries. And to is about the P two C service from the travel to the daily service for more than half of the Korean population. But beyond the death, we have invested into Aon's data architecture with big data and data mapping technologies in the data lake. The reason why we could build new vertical a services for its customers from the supplier and sale channel and and the consumer, I would like to explain one by one 41 is all about A I based dynamic pricing for the supplier. The hotel would like to maximize their revenue, but it's very difficult to optimize the right price. Every data around me can be changed every time they show you why it's very difficult to predict right price.
So we think about this in terms of the hotel, they have three kinds of the prices like between price package price and be price. Also the price can be different depending on the room type or conditions like breakfast included. And also according to the day, according to the calendar, the price can be different. The Children. Why we should automate the pricing system to maximize price through the dynam pricing. This is the so we built idea w occupation rate trend like this and according to the real time data like occupation rate and the competitive price or the traffic on the district.
So we are collecting huge amount of data to automate the pricing system to maximize the living in power for the hotel. Second is about the prediction model for the sales channels. Retail price is not that controllable because the price can be decided according to the supply and demand, the Children. Why to maximize the margin of the sales tender? The China should find out the lowest wholesale price.
But globally, there are 600,000 sales channels including wholesaler and retailer. At the same time as I told you, there are two kinds of the prices according to the calendar and the room type and then condition. This is why it's impossible to find out the lowest price. Also, it's impossible to check the every year time data from the amount of the sale centers because if they try to do the cost for the software and so on will be very high. So we built prediction model based on the machine learning from our data leak. So we have a model to predict the channel and timing to find out the lowest price of the inventory.
So we automate the process for our customers. So many major Ota's group OTAs or the wholesalers and the major to operator are using our technology to find out the lower price than before. At the same time, we launched fintech service like a price watch. It is for the and the consumer. So when making a reservation, you may be curious whether the price will go up or down the situation, why we should book the hotel without cancellation? But it's possible to provide a prediction of the price.
So if the price will go up, probably you would like to use the price if the price will go down. Probably you may use the auto buy like your stock also upgrade of sale or the price drop protection. Or FX protection, many kinds of the fintech service we can provide for the sale centers. So this kind of the services, it is very important to move forward as a virtual. Because if we are thinking of this kind of service only as a just a prediction, it's not a big thing.
But if you can imagine the new era and new world with the 10 A, definitely this kind of service is inevitable to be connected with gen a with a new interface I believe to is about the digital marketing travel industry is quite different from the other industries with the good data, marketing, e-commerce, fintech or the game, we already have a good marketing technologies to enhance the targeted accuracy for your advertising. But pattern of the travel is quite different from the other industries. In terms of the ecommerce, it's possible to identify or decolonize the pattern.
If you buy the water today, probably it's possible to predict you will buy the water or gain in three weeks, for example. But in terms of the travel, the pattern is totally different from the ecommerce or the other industries. If you go to the parties today, we go to party. OK. Usually not at the same time, the occasions can be different. So you you you came here for your business trip for next trip, probably with your family, the other trade with your friends, the occasion can be different, which is why it's very difficult to identify by the pattern to do the digital marketing. Another case was made by the Fashion Ecommerce company.
So one Fashion Ecommerce Company reached out to us to ask how to sell the swimming suit in the winter. Usually it's impossible to sell the swimming suit in the winter. But in terms of the travelers going out to the kind of the Southeast Asia or the Oceania, they feel that they should buy the swimming suit for their travel. This is why these are marketing for the industries different from the original industry. With the marketing, they feel it's possible to make a business. So thanks to our vertical A services, we could make a quantum jump in the to tt transition volume is the most important number for the the the platform service. So
in that sense, we already achieve more than 72 Korean one in USD around 5 billion. And in terms of the recent total quarter, we achieved almost 9.92 Korean one train volume in USD around 7 billion.
So we are making the quantum jump in our the to changing volume at the same time. Thanks to this data, we can enhance the accuracy of our vertical A I services. Definitely the growth has been very helpful to enhance our revenue growth. We made more than 120% yy growth in our revenue from the B two B solution businesses globally. At the same time, we could make a improvement in our profitability.
I believe most of the ESRB should sac sacrifice their profit to make growth in their revenue because of two regions. First, usually they should pay huge cost to collect the data. Second, they should be connected with new customers, which required a huge investment. But for the last 10 years, we tried to build cloud based software called for the supply and demand, which is why we could collect comprehensively and um in a differentiated manner.
This is why we could collect the holistic and huge amount of data through the profitable business model. At the same time, we have invested into data lake to be connected with huge amount of the customer. We have tested our vertical a business model only with 1% out of the potential customers who are connected with our data leak and the test with the 1% the major customer has been quite successful, which is why after the experiment, we have a plan to expand into the major customer pool. So in that sense, I think this kind of new data architecture is very helpful to make a growth and improvement in revenue and profitability.
And this in terms of the recent total color, we achieved more than 30% margin. That means we are driving the improvement in our profitability through our vertical A I services. And I would like to share the last point about the gen A I I believe that gen A I should have a new commercial, profitable a model to make a sustainable growth. I work at Google about 17 years ago. Before the
Google, I worked at Yahoo. At that time, I realized that the Google search change looks great, but it's also impossible to charge the fee to the end consumer. The reason why they try to find out the new business model like advertisement. Similarly, I think, ah, ma made a great p service, but based on the service, they should find out another business model like Aws cloud business. So similarly, in spite of the great service, it's very hard to charge the fee to the end consumer. But how CH A depends on the subsequent fee. But
if they can be connected with vertical area like Yura, it's possible to create new buildings model because it's not only about the search and the recommendation and booking, as I told you, as I mentioned before, in terms of our B two G service customer doesn't care about the booking itself. Pre chief service is not that difficult. We do not have an issue there. We have an issue during the trip.
It's very difficult to find out the location. I would like to have a better recommendation right after checking in. Usually after the checking in, probably you may talk about what's the best restaurant right now. In that sense, in trip service is very important. So only with the pre pre trip and the booking process, I think it's not that meaningful to disrupt consumers travel journey.
But during the trip, in terms of the in trip service, we can make a huge disruption to enhance the consumer travel journey and their experience. So in that sense, the gen A's interface is great and optimize for the entry process. That means you are helping your assistant with you during the trip. So in that sense, I believe that 10 A and the vertical area like have a complementary relationship to realize the new business model beyond the subsequent fee situation. Why we are working on such collaboration with the potential in A I services to make a description in the near future? So I would like to introduce the um for the next session.
Thank you, Jeff, thanks everybody. My name is Akhila Gla. I'm a go to market leader with an enterprise transformation space. Um And thank you Jeff for walking us through that hugely successful transformation journey that you have been through and adding tremendous value over the last five years as you have explained us to all. Um And um so how do we, how do all these successful transformations happen? What are uh what, what do modern enterprises do differently to make this transformation successful? And what is the common denominator that these high velocity organizations have? I'm going to summarize that uh in the remaining time for you. Now, as everything at Amazon and Aws, we have an opinion, we think a certain way in terms of what transformation can mean. And
at the forefront of that is business value at Aws at Amazon, we take pride in being a very customer centric organization, being customer centric is our purpose. And that purpose is clear, easy to articulate and it holds us accountable on a day to day basis. You would think that having a purpose that can be clearly articulated is an easy thing. But if you don't have that, and if there is a lack of alignment in your organization, in terms of what your purpose for this transformation is going to be, then it's not going to even take off or lift off the ground in the first place.
Your leadership and your teams need to understand very well and believe why you're doing what you're doing and that becomes the North star for your organization, for your teams. The North star backed by a very successful, very well defined outcomes and quantifiable metrics or kps that help you calibrate and define what those successful outcomes can be is a very strong foundational element of embarking on a transformation regardless of where you are on the journey. Now, there are organizations who transform. Now, we have been through the first cycle of transformation. There's more transformation happening at Yan Yuja.
What does that mean each time? And how do you build that is important? But it starts with the understanding of the purpose and the well defined outcomes. And once you do that at that point, we got to start building capabilities and in terms of capabilities, I like to think of them as these building blocks or elements. The first one is organization and culture as you are growing, like talked about globalization and being present in 200 countries in a very short span of time. That's a huge scale. How do you retain your cultural fabric, your ethos and make sure your teams are moving in a high velocity, organized or high velocity manner and fashion that is important for retaining a day one mentality. We define day one mentality as having the mobility and the agility in your organizations to start making very fast decisions.
And we call that high velocity. And our founder describes that as a competitive differentiator and uh intrinsic to being a day one culture. If you are not able to innovate consistently and making decisions fast, then it means you are already in day two, we have concepts of at Amazon such as the two pizza team. Most of you must be familiar with it. Basically the size of a team where the team can be easily fed by two pizzas, right? And having that autonomous decision making as Jeff has alluded to, how do you create psychological safety for your teams to experiment? If a new technology comes up, how can they experiment? How can, how do they have access to all these new technologies that is an important aspect of cultural development. How do you skill your people? So we have many such mechanisms and mental models through which we work with our customers to making sure that globalization efforts scaling is all practical and is all can be done in line with the purpose that they have defined for themselves.
I talked about mechanisms and that is a second element of building block in terms of capabilities. Now, mechanisms are very Amazonian term. Basically talks about a process which has the ability to iterate itself, improve itself and to be built for scale. My colleague, Terry has alluded to working backwards and culture of innovation. So those are excellent examples of mechanisms which which we work with our customers to flush out the purpose, the metrics, the KPs initiatives and how do you produce a road map that is actionable over time again and again. The third element is about being data driven.
I won't go to go into it at length since Jeff covered about how being data focused and help them monetize it, create new revenue channels, vertical, their A I services. But what I would say is that when you talk about data democratization, 85% of the challenges are not data related or technical. And the last two elements are really having the ability to access advanced technologies. We talk about
developer productivity all the time when a new technology comes in like a il generative A I smart floor operations on the factory floor, smart manufacturing or IO are your teams able to build, are your teams able to access those and play with them? That's an important aspect and that is very closely interrelated to the architecture, most enterprises which have been running their businesses for many, many decades. They're not necessarily built for cloud and built for agility because cloud is of course a new thing relatively. So are you looking at your business architecture, your technical architecture patterns and modernizing that you have talked about preparation and being prepared for what's coming. So the advanced technologies and architecture go hand in hand to make sure you're building the capabilities as you're transforming your organization.
This is all great. How do we do that at Amazon? And as an enterprise transformation specialist, we take an iterative approach. We like to say, think big start small and scale fast. And when somebody says everybody, everything is a priority, it means nothing is a priority. So we started prioritizing the problems or what is it that the customer wants to solve for? And it has to be only two or three at a time. Not more than that, you take those priorities and you flush them out into lighthouse initiatives, you understand the gap or what, what is, what's the gap between now and then based on the outcomes and the purpose and everything else that you have defined and you start solving them. It's all hands on keyboard
but it doesn't stop at that once you have minimum lovable products, once you start building capabilities, you will have new challenges, you will have new problems to solve for. So in order to make a transformation, sustainable and scalable, as you are experimenting as you are building these capabilities, you also need to think about instituting a mechanism for that transformation. You must be familiar with the Amazon fly wheels. So how can you actually create a flywheel that will help you with high velocity that will help you with sustainable transformation as you are undergoing as you are undergoing the first two stages that I spoke about.
Organizations need to understand what are their barriers because every organization's culture is different. So what are their barriers? What are their constraints? Which kind of mechanisms and mental models would work best for them and then use those to propel into high velocity and accelerating their flywheel. When you couple that with data driven insights, operational insights on products, on data sets, on channels, you can quickly figure out what's working for you, what's not working for you and those insights, data driven operational insights will inform. How do you need to adjust your strategy, your actionable road maps. How do
you define your backlog of initiatives doing this in such a way? It creates a lot of efficiency in how your teams work. Have you run your business? Hence creating business value quickly. And that business value is also differentiated enough.
So I would like to just summarize it that way and have you nailed down a transformation? I'm sure there are many more and I hope we are going to be presenting again about our next uh trans transmission soon. Now, if you like to know more about our case studies and uh what kind of collaterals and what kind of mechanisms we have in innovation and transformation space. I have a couple of QR codes here. Um So we can talk about what our go to market motions are.
You can read and listen to a lot of other customer talks. I would invite you to do that. We have other tracks throughout this week. Um And I appreciate all
of you uh coming here to Mandalay Bay at 8:30 a.m. on a Monday morning. Uh I will invite you to check out these as well. We have about 2.5 minutes for questions. Um If you have a question, please raise your hand.
2024-12-07 22:45
