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Make Customer Journey
Joyful with
Big Data and API
Presented by
Dr. Toa Charm
Aug 26, 2021
Dr. Toa Charm 湛家揚博士
• Former Chief Public Mission Officer (CPMO) at the Hong Kong Cyberport
where Dr. Charm established an...
My Engagement with the Innovation &
Technology Ecosystem in Asia
3
3 3
Outline
• Business Model is the Key for Success
• Role of Big Data & API in a Viable
Business Model
• Customer-Centric API...
Business Model
is the Key for
Success
If you were Philips Lighting (Signify),
how you’re going to
change your business model
in the Digital Economy?
6
Philips: “Light as a service” or “LaaS”
Pain Point: How about our bulbs are suddenly
burned out while we are working on an...
TECH is Important
But Business Model is Even More Pivotal
From Technology to
Business Model
8
Rise of FinTech
Unbundling Bank to Make Customer Happy
9
Innovation and Business Models
Work Together to Create Values for Customers
10
Business Model
Business Model – All about VALUE
Create Value | Deliver Value | Capture Value
Example: Deliveroo
Technology and Innovation...
Role of
Big Data & API
in a Viable
Business Model
In the Digital Economy, Asset Light Businesses Perform
Much Better than Asset Heavy Traditional World’s Leaders
13
13
14
Market Cap of Airbnb
How did they make it?
14
Data Analytics at
Every Corner of Airbnb
15 15
Big Data is the Core Competence of
Leading FinTech Companies
16 16
BATJ Made Use of
Data to Create
FinTech Business
17
From Competition to Collaboration
18
HKMA Open API Framework
19
HKMA Commercial Data Interchange (CDI)
Empowering banks to make use of data to
make financing easier to customers
20
FinTe...
Customer-
Centric
API Design
Most Banks Focus on Internal APIs to
Cut Costs and Boost Efficiency
Should do
More
Customer-Engaging
APIs
22
Walgreens Used API to Increase
Customer Engagement
• Printicular from MEA Labs, which
allows users to print photos at
Walg...
Engagement is Not Only Customers
But Also Developers
Source: Openbankproject.com
24
Measure API Impact with Right Metrics
Activity-based to Impact-based KPIs
25
Prioritize Your API Projects
26
Taking Customer-Centricity to Next Level
Embed Ourselves in Customer Journey
• 1st Phase:
• Acquire, Transact
and Engage D...
Collaboration with Internal and External
Innovation and Technology Ecosystem
28
HSBC Collaborates with Startup Ecosystem to Bring
Digitalization to Consumers, SMEs, & Industries
29
29
Citi and HK TV MALL
use APIs to make
“Pay with Points”
possible
Starling Bank
and HSBC
uses APIs to
connect different
FinT...
HKTV Mall
Open Data
Strategy
• Each day, the company uploads a file of its customer browsing and shopping data to
the inte...
32
HKTVmall
Open Data Bank
“Every company thinks differently, and you
cannot use the same formula for every product.
That’...
3 Key Takeaways for Today
Customer Pain Points
> TECH
Business Model is NOT just
how to make money; Rather,
creating, deli...
My Contacts
Dr. Toa Charm
34
http://hk.linkedin.com/in/toacharm/ WeChat Account: Toa Sir
doctorcharm@doctorcharm.com
toach...
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apidays LIVE Hong Kong 2021 - Unleash the Power of Big Data with API Collaboration by Dr. Toa Charm, CUHK Business School

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apidays LIVE Hong Kong 2021 - API Ecosystem & Data Interchange
August 25 & 26, 2021

Unleash the Power of Big Data with API Collaboration
Dr. Toa Charm, Associate Professor of Practice in Management at CUHK Business School

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apidays LIVE Hong Kong 2021 - Unleash the Power of Big Data with API Collaboration by Dr. Toa Charm, CUHK Business School

  1. 1. Make Customer Journey Joyful with Big Data and API Presented by Dr. Toa Charm Aug 26, 2021
  2. 2. Dr. Toa Charm 湛家揚博士 • Former Chief Public Mission Officer (CPMO) at the Hong Kong Cyberport where Dr. Charm established and nurtured a world-leading innovation and technology ecosystem with more than 1,200 start-ups from more than 30 countries including ASEAN • Advisor & Mentor: HKSTP, Cyberport, ASTRI, FHKI, HKPC, HKIB, HKRMA, HKCC, HKGS1, CityU HK Tech 300, and more • Chief Judge, FinTech Award, Hong Kong ICT Awards (2019-2021) • Author of the Book: <數碼力大提升> • Received the Following Awards from CityU HK • College of Business Distinguished Alumni Award in 2019 • Outstanding DBA Alumni Award in 2018 2 • Associate Professor, Business School, Chinese University of Hong Kong • Chairman & Principal Advisors of a Few Elite AI, FinTech, eCommerce and ESG Start-ups in Asia • Former Senior Management: Cyberport, HSBC, IBM, Oracle & Kingdee
  3. 3. My Engagement with the Innovation & Technology Ecosystem in Asia 3 3 3
  4. 4. Outline • Business Model is the Key for Success • Role of Big Data & API in a Viable Business Model • Customer-Centric API Design
  5. 5. Business Model is the Key for Success
  6. 6. If you were Philips Lighting (Signify), how you’re going to change your business model in the Digital Economy? 6
  7. 7. Philips: “Light as a service” or “LaaS” Pain Point: How about our bulbs are suddenly burned out while we are working on an urgent project in office or an important order at plant 7 What’s Next? IoT, connectivity, sensors, data, AI/deep learning,... are becoming a standard vocabulary to lighting
  8. 8. TECH is Important But Business Model is Even More Pivotal From Technology to Business Model 8
  9. 9. Rise of FinTech Unbundling Bank to Make Customer Happy 9
  10. 10. Innovation and Business Models Work Together to Create Values for Customers 10 Business Model
  11. 11. Business Model – All about VALUE Create Value | Deliver Value | Capture Value Example: Deliveroo Technology and Innovation plays a key role to deliver value 11
  12. 12. Role of Big Data & API in a Viable Business Model
  13. 13. In the Digital Economy, Asset Light Businesses Perform Much Better than Asset Heavy Traditional World’s Leaders 13 13
  14. 14. 14 Market Cap of Airbnb How did they make it? 14
  15. 15. Data Analytics at Every Corner of Airbnb 15 15
  16. 16. Big Data is the Core Competence of Leading FinTech Companies 16 16
  17. 17. BATJ Made Use of Data to Create FinTech Business 17
  18. 18. From Competition to Collaboration 18
  19. 19. HKMA Open API Framework 19
  20. 20. HKMA Commercial Data Interchange (CDI) Empowering banks to make use of data to make financing easier to customers 20 FinTech 2025 Commercial Data Interchange (CDI)
  21. 21. Customer- Centric API Design
  22. 22. Most Banks Focus on Internal APIs to Cut Costs and Boost Efficiency Should do More Customer-Engaging APIs 22
  23. 23. Walgreens Used API to Increase Customer Engagement • Printicular from MEA Labs, which allows users to print photos at Walgreens from either their phones or their accounts with Facebook, Instagram, or Dropbox. • Riding on the inputs of such third- party developers and their popular applications, Walgreens enhanced overall customer engagement with its retail stores. • In fact, its revenues per customer for people who interacted with it in its stores and via the web and mobile devices were six times those generated by people who just shopped at its stores. 23
  24. 24. Engagement is Not Only Customers But Also Developers Source: Openbankproject.com 24
  25. 25. Measure API Impact with Right Metrics Activity-based to Impact-based KPIs 25
  26. 26. Prioritize Your API Projects 26
  27. 27. Taking Customer-Centricity to Next Level Embed Ourselves in Customer Journey • 1st Phase: • Acquire, Transact and Engage Digitally • 2nd Phase: • Ecosystem • Data 27
  28. 28. Collaboration with Internal and External Innovation and Technology Ecosystem 28
  29. 29. HSBC Collaborates with Startup Ecosystem to Bring Digitalization to Consumers, SMEs, & Industries 29 29
  30. 30. Citi and HK TV MALL use APIs to make “Pay with Points” possible Starling Bank and HSBC uses APIs to connect different FinTech start-ups 30
  31. 31. HKTV Mall Open Data Strategy • Each day, the company uploads a file of its customer browsing and shopping data to the internet which is free for brands, agencies, universities and anyone else to download and interpret. Although stripped of any personal identifying information, the data remains highly detailed and is similar to that seen by HKTVmall’s marketing team. The daily file – covering every click and movement of visitors to the site – can reach a hefty size of 30GB on occasion. • “Given that we have a vast knowledge of how to run a profitable online shopping mall, our mission is now to export our knowledge and our technology both inside and outside Hong Kong,” Wong says. 31
  32. 32. 32 HKTVmall Open Data Bank “Every company thinks differently, and you cannot use the same formula for every product. That’s why I open up this data for the public to use,” Wong explains. His philosophy is simple: If a vendor can sell more products by analysing HKTVmall’s data, then both parties can benefit. Ricky Wong, Group CEO
  33. 33. 3 Key Takeaways for Today Customer Pain Points > TECH Business Model is NOT just how to make money; Rather, creating, delivering and capturing values Data and API Empower Value Co- creation with Ecosystems Open Innovation and Value Co-Creation Customer Engagement is the Core of APIs Priority, measures & actions on customer and developer engagement 33
  34. 34. My Contacts Dr. Toa Charm 34 http://hk.linkedin.com/in/toacharm/ WeChat Account: Toa Sir doctorcharm@doctorcharm.com toacharm@cuhk.edu.hk www.doctorcharm.com THANKS 34

apidays LIVE Hong Kong 2021 - API Ecosystem & Data Interchange August 25 & 26, 2021 Unleash the Power of Big Data with API Collaboration Dr. Toa Charm, Associate Professor of Practice in Management at CUHK Business School

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