Compass Group CIO: understanding customer behavior with data
Catering giant Compass Group’s chief information officer, Fiona Humphreys, recently elaborated the importance of a data-driven approach to customer behavior. Humphreys, who is widely recognized for advancing Compass Group’s IT skills through a “cloud-based transformation”, was speaking at the 2018 CIO 100 celebration reception in London – and she had plenty to say.
Compass Group’s share price has risen by 6% over the past month
SOURCE: Yahoo Finance
Discussing the value that an information-driven approach to business can bring, she told listeners: "We are the biggest food service business in the world. But from a market perspective, we're noticing that our business is trending towards retail, so from a technology point of view, that brings in quite a lot of opportunities around EPOS, self-serve, digital payments, loyalty. But the real opportunity is the data we can extract from all of those solutions, and really trying to understand more about our consumer and how we can then drive sales."
She highlighted that some of these findings had value beyond Compass Group’s own business, and noted that data sharing between peers – that is, huge, successful, companies in other industries – could be an extremely important part of the business world’s future.
Compass Group serves about 5.5 billion meals a year globally, so it has no shortage of data to draw from. According to Humphreys, it’s important to take the time to think about how this new world is working in order to make the best of it. Praising the event, she said: “to get just a few minutes to stop and think about what we do and why we do it and what's really driving that, and really interesting to hear about the cultural side of things and diversity this evening. I think that they're things you're intrinsically aware of but to bring them up into your conscience is really useful because it means I'll go back into the office and start to think about some of those things."
Dominion holds Compass Group in its Global Trends Managed Fund.
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