Every Monday morning we fire five questions at a C-suite technology industry interviewee. Today we’re pleased to be joined by Luminati CEO Or Lenchner.
What’s the Biggest Challenge for your Clients?
The biggest challenge our customers face today is gathering the data needed to make the most accurate business decisions.
Irrespective of the sector in which our customers work, thriving in today’s digital age is dependent on having the ability to compete for (and win!) consumer attention online. This means delivering everything from customised, up-to-date content, right through to offers and products – all of which must be underpinned by knowledge of your customer and competitor base. Of course, it also requires standing out and succeeding in a fiercely crowded marketplace!
I was able to discuss the challenges with some of Luminati’s customers during a recent trip to North America. To address these problems, we always work closely with our customers, helping them to collect the data needed to provide an in-depth and precise competitive analysis.
Getting that data involves taking an upfront, honest look at the current information-gathering systems and processes. In many cases, we find that these companies have been basing past decisions on the wrong data – or even no data at all, and missing out on major opportunities as a consequence.
Take e-commerce, for example: brands in this sector are judged on a daily basis by their consumers, who look at their product, display, pricing and more. We are increasingly finding that large companies are unaware of the advanced solutions available which can help them collect the data needed to make informed decisions helping them maintain their competitive edge.
With every new customer, we start with a review of their data-gathering processes. A crucial first step, though also a hard admission, is to address previous poor judgements in order to ensure better decision-making in the future.
What Technology Excites You the Most?
For me, it has to be the IoT. It’s a cliché I know, but there are so many opportunities which can be unlocked by this technology.
In the little free time that I have, I use and test new IoT innovations. As an avid surfer, I’ve even built and tested my own IoT device, which tracks my performance on the surfboard, such as the number of waves surfed, distance paddled, speed and direction, as well as environmental data on water temperature, water salinity and swell.
First and foremost, I’m a technology enthusiast with a belief in the importance of technology openness and transparency. It’s important that IoT delivers opportunities and benefits to people around the world, and in order to achieve this, it should be open: something which is fundamentally different to the internet of today. That is, without the restrictions and blockers that come with some www domains. I also hope that an open IoT will play a major part in our day-to-day lives.
This will also benefit the enterprise, as the ability to check information as it is being received can help to create a truthful internet picture, which is vital to levelling the competitive landscape.
What is your Greatest Success?
My greatest success to date has been the journey I took from leading a product team at Luminati to becoming CEO, in under three years. I’m extremely proud of this, as working in the technology sector has always been more than an interest. It is my true professional passion.
Leading an innovative business with such immense potential was not only a huge opportunity for me to take the business in a new direction, but also a huge privilege as it allowed me to learn more about our customers, study their needs and think about how we can help them to create a better world for consumers.
We have a unique company DNA, we allow our team members to focus solely on our customers’ success. I think this special culture has contributed to my professional development.
My journey was one which I could not have completed alone.
What is your Worst Failure?
My worst failure was when as a fairly new CEO, I missed several pieces of crucial data and made a decision, despite being warned against it. Fortunately, the fall out was dealt with successfully.
Whilst I still base my decisions on data, I now ensure that the information laid out in front of me paints a complete and holistic picture.
In Another Life, What Would you Want to Be?
With my passion for surfing, I’d be a full-time surfer. I’ve been riding waves for almost 20 years, and always try to catch some waves before work. When I travel to meet customers, I sometimes find a few who share the passion and we make it part of our day.