Embracing Location Economics
- Details
- Written by Nasheen Liu
Building on the success of the Executive Insights Roundtable last November, DMTI Spatial, a provider of industry-leading Location Economics solutions, hosted another group of senior financial services executives in the GTA for an engaging and insightful session. Once again, John Pickett, principal of The IT Media Group, facilitated the session and Asif Khan, president of the Location-based Marketing Association (LBMA), was a guest speaker. Held on Jan 29th at the Gardner Museum, the event provided participants in the Finance and Insurance sectors the opportunity to discuss ways in which location-based information can help their organizations mitigate risk and identify opportunity. After the session, DMTI provided participants with a delicious dinner prepared by renowned chef, Jamie Kennedy.
The session was kicked off by Asif Khan who shared findings from research undertaken by the LBMA and from his recent travels to other parts of the world. Mr. Khan introduced the concept of location-based marketing as an ecosystem - the intersection of people, places and media. He shared statistics that point to the growing importance of location in decision-making. For example, it is estimated that 85% of data has a location element and according to Google, 90% of searches have location intent. In other words, when we are searching for things on Google, typically we are searching for things that are close to us.
Mr. Khan identified three factors that are driving an increased interest in location economics: the growing awareness of location enabled services among businesses and consumers; the availability of current, complete and accurate data; and the rise in Web services as a better, cheaper, faster deployment model.
He pointed to the growing use of location-enabled services by consumers and business, and emphasized that for business decision-making, current and accurate data is critical, a key strength of DMTI. This allows businesses to generate real-time insights that are truly meaningful. In this scenario, accurate location-data becomes a powerful business and marketing tool.
“It’s all about the right data”, said Cecilia Carbonelli, Vice President of IT from Genworth Financial, a loyal DMTI customer. Oftentimes, IT and business leaders rely on a process-driven model for decision making. Cecilia believes that a data-driven model should come first and foremost. In working with DMTI, Genworth has increased the accuracy of its customer data, reduced the risk of making wrong decisions, and improved its underwriting response times.
Senior executives from Altus Group, Cornerstone Group of Companies, First Canadian Title, FNF Canada, Genworth Financial, TD Canada Trust, The Guarantee Company of North America and PMV Consulting shared their big data challenges and what they hoped to achieve by leveraging Location Economics solutions. Participants confirmed that when managed properly, location-based data can provide a multitude of opportunities for financial services institutions to improve time to market, minimise risk, and increase customer satisfaction. Mr. Pickett facilitated highly engaging discussions about data ownership, accuracy, security and privacy, and the value of creating a Location Economics partner ecosystem.
John Fisher, CEO of DMTI believes that in order for organizations, customers and partners to truly benefit from location-based information, it is essential to share meaningful and relevant data in a common platform. A Location Economics ecosystem promotes the sharing and exchange of value between businesses. Participants welcomed the idea of having DMTI act as a “business data broker” to facilitate connections and foster partnerships among companies. This is a vision Mr. Fisher is currently carrying out and is demonstrated in DMTI’s most recent partnership announcement with Cornerstone.
At the end of the session the appetite for Location Economics was clearly developed. DMTI had fed our minds. Jamie Kennedy then fed our souls. A perfect pairing.
Past Attendees
ADP - VP Architecture & Infrastructure
AESO - VP, Information Technology
Agnico Eagle Mines - VP, IT
Agrium - Global Mgr., IT Security
Agrium - Senior Director IT Shared Services
Aimia - SVP & Global CIO
Ainsworth Engineered - Director IT
Air Canada Vacations - Director IT
Alberta Energy Regulator - Director, Office of the CIO
Anthem Properties - VP IS
AON Risk Solutions Canada - Head of IT
Avison Young - VP Global Enterprise Architecture & Integration
Aviva Canada - VP, Architecture & Strategy
Bank of America Merrill Lynch - CTO
BC Ferry Services - VP & CIO
Bell Business Markets - Director, Strategy & Planning
Bell Canada - National Director, Digital Transformation
Bellatrix Exploration - Director, Information Technology
Bentall Kennedy - VP IT
BFL CANADA - CIO
BFL CANADA - Director, Cybersecurity & IT Risk Management
Black Press - CTO
BlackBerry - VP Corporate IT
BMO Financial Group - Director, Technology & Operations Transformation
BMO Financial Group - Head of Services Delivery
Bombardier Aerospace - CISO
Bonavista Petroleum - Head of IT
Borden Ladner Gervais LLP - Global CIO
Bow Valley College - Director, IT Services
Bridgewater Bank - Head of IT
BuildDirect - VP IT
Bulk Barn - Head, IT
Burnco - CIO
Caisse de Depot et Placement du Quebec - VP, IT Planning, Architecture, Governance, Operations
Calfrac Well Services - Head of IT
Canada Goose - CTO
Canada Live - VP of Technology
Canada Mortgage and Housing - VP, Information & Technology
Canada Protection Plan - Head of IT
Canadian Depository for Securities - CIO
Canadian Direct Insurance - CTO
Canadian Payments Association - VP & CIO
Canucks Sports - Head of IT
Capgemini - Service Delivery Director
CAPREIT - CIO
Cardel Homes - VP MIS
Cargojet - CIO
CBI Health Group - CIO
CCS Corp. - VP IT
CDSPI - Board Director
Centerra Gold - Director IT & Comm
CI Global Asset Management - VP of Enterprise Infrastructure $amp; Operations
CIBC - Senior Director, Infrastructure Planning & Engineering
CIBC - SVP & CIO, Retail and Business Banking Technology
CIBC Mellon - AVP, Enterprise Architecture
CIBC Mellon - SVP & CIO
Cineplex Entertainment - CTO
City of Brampton - Senior Manager, IT Architecture & Planning
City of Richmond Hill - CIO
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CN Rail Service - Chief Information Security Officer
Coast Capital Savings - VP Technology
Colliers - Head of Technology & Data
Concordia University - AVP & CIO
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Dairy Farmers of Ontario - Head of IT and Administration
Dale Parizeau Morris Mackenzie - VP, IT
Davies Ward Phillips & Vineberg LLP - Director, Information Technology
DealerTrack Canada - Director, Technology
Defence Construction Canada - Corporate Manager, IT
Deloitte - Director, Risk Advisory
Dentons - Canada CIO
Devon Energy - Director, Integrated Business Services
Direct Cash - VP IT & Security
Dynamic Tire Corp - CIO
D+H Partnership - VP, Head of Canadian Mortgage Technology
eHealth - EVP, Technology
eHealth Ontario - VP, IT Systems & Services
Encana - Director, InfoSec
Enbridge Inc. - VP, Technology and Information Services
Enerflex - CIO
Enerplus - VP. IS
ENMAX - VP, IT & PMO
Equitable Bank - CIO
Equitable Bank - CISO
Equity Financial Trust - VP, IT
Essential Energy Services - Director, IT
Expedia Cruise Ship Centers - VP IS
FGL Sports - VP, Information Technology
Finastra - SVP, Head Technology Managed Services
Fix Auto Canada - COO & SVP
Flightnetwork.com - CIO
Freedom Mobile - Head, Customer Applications, Experience, & Strategy
FT Services - CIO
FundServ - CIO
Genus Capital Management - CTO
Genworth Financial Inc. - VP IT
Geotab - Board Member
Golder Associates - CTO
Gran Tierra Energy - Director IT
Grant Thornton LLP - CIO
Grand River Hospital - Director, Data Governance & Analytics
Greenwin Inc - VP, Information Technology
Groupe Dynamite - Director, IT
GSK Canada - IT Director
GTAA - Acting CIO
H&R Block Canada - VP IT
Haventree Bank - VP, Technology
Hewitt Equipment Ltd. - VP & CIO
Hitachi Vantara - GVP & Global CTO
Home Trust Company - CIO
Home Trust Company - CTO
Home Trust Company - VP & CISO
Horizon North Logistics - CIO
HSB Canada - VP IT
IBM Canada - Associate Partner, Payments Industry
Indigo Books and Music - CIO
Interac Corp - Director, Platform Engineering
ivari - SVP & CIO
JP Morgan Chase Canada - Executive Director, Information Risk Management
Keyera Energy - Director, Information Technology
KFC Canada - CTO
KnowledgeOne - CIO
LaFarge Canada - Director, IT
Landmark Cinemas Canada - VP, IT
LAWPRO - CIO
LCBO - Director, Applications Systems
LCBO - SVP & CIO
Leisureworld Senior Care Corp - VP IS
Lifeguard Digital Health - Chief Security & Informatics Officer
Loblaw Companies Ltd - Senior Director, Customer Engagement Technology
London Drugs - GM IT
Loto-Quebec - Corporate Director, InfoSec
Magna International Inc - VP & Global Leader, IT (CIO)
Manulife - Global Head of Private Markets & Real Estate Technology
March Networks - VP Professional Services & CIO
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MEG Energy - Manager, Information Technology Solutions & Services
Metrolinx - EVP & CIO
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MMM Group - CIO
Montreal Police Service - CIO
Morguard Investments - CIO
Moulding & Millwork - CIO
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National Bank of Canada - Information Security Officer
National Capital Commission - Chief, IT infrastructure & Support Services
NHL Players' Association - Head, Security & Technology
Northbridge Financial Corp - CIO
OEC Group Canada - Vice President, Information Technology and Client solutions
ODAIA - CEO
Oildex - VP, Architecture & Infrastructure
OPTrust - AVP, Enterprise Data Services
Olympia Financial Group - CIO
OMERS - EVP, Data & Technology
OMERS - SVP IT
OMERS - SVP, Data & Advanced Analytics
Ontario Pension Board - CTO
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Packers Plus - Global IT Director
Pason Systems - Manager, Digital Communications & Corporate IT
Patient News - CTO
Peel District School Board - CIO
Pengrowth Corp - Director IS
Penn West Exploration - Snr. Manager, IT Operations
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Precision Drilling - VP, IT
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PwC - Managing Director, Real Estate Technology Advisory
Pythian - CTO
Qantas - Global CIO
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RBC Royal Bank - Head of Application Security, Data Protection & Security Consulting
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Regal Lifestyle Communities - CIO
Revera Inc. - CIO
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Rheem Manufacturing - CISO & Enterprise Architect
Ricoh Canada - VP,IT
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Roche - Head of IT Americas – Operations
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ROM - CIO
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Toyota Canada - National Manager, IS
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Trican Well Services Ltd. - Director, Business Information Systems
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Trillium Health Partners - IT Director, Applications & Clinical Informatics
UFA Cooperative - VP & CIO
University of Calgary - Executive Director, Development Services
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University of Toronto - Director, Centre for Management & Technology
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Valencia Risk - Managing Director
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Viterra - Director Enterprise Technology
Wawanesa Mutual Insurance Company - Director of Innovation Outpost
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