No. The buy side market is nowhere near maturity and will continue to be a greenfield opportunity to many BI vendors. Our research still shows that homegrown shadow IT BI applications based on spreadsheets and desktop databases dominate the enterprises. And only somewhere between 20% and 50% of enterprise structured data is being curated and available to enterprise BI tools and applications.
The sell side of the market is a different story. Forrester’s three recent research reports are pointing to a highly mature, commoditized and crowded market. That crowded landscape has to change. Forrester is making three predictions which should guide BI vendor and BI buyer strategies in the next three to five years.
Three very different brands with an unfortunate commonality: Each has recently incurred the wrath of a growing segment that Forrester calls the values-based consumer.
Last week at Forrester’s Consumer Marketing Forum, my colleague Henry Peyret and I launched a new line of research. It helps marketers manage the trend of consumers looking beyond the direct, personal benefits they receive from a brand to also value the brand’s impact on society and the world. Paired with Anjali Lai’s powerful companion data report on how empowered consumers’ decision making is changing, this set of research represents a new dimension of Forrester’s overarching thesis on the age of the customer.
To be “customer obsessed,” brands need to do more than study their customers’ technology habits and the digital data they have about them, and even go beyond delivering extraordinary experiences. These are things all companies are trying to do today and will differentiate brands just until their competitors catch up. Increasingly, brands will be evaluated beyond the sum of their features, benefits, personality, and positioning. Tapping the increased transparency created by social technologies, consumers are able to choose brands that reflect their own beliefs on issues related to their personal interpretation of societal impact.
Personal wearable devices adoption in the US rapidly increased in 2014 and 2015. But, Forrester’s US Consumer Wearables Forecast (2017-2022) shows that the market is now maturing and undergoing consolidation. The devices which offer higher utility to users will grow while devices offering lower utility gradually diminish in importance. This means that:
· Future of wearables lies in smartwatches: Smartwatches are getting smarter every year. They now have a better and more intuitive user interface. The app ecosystem is also rapidly improving. For example, even cheaper smartwatches can now track your health and exercise with a high degree of accuracy. NFC payments at a superstore checkout also have greater traction as more stores now have required technology (this essentially involves using a mobile payment service such as Apple Pay or Samsung Pay installed on a smartwatch to pay). Newer software, such as Android Wear 2.0, offers great speech recognition capabilities and make the negative of small screen space redundant. Using Siri on Apple Smartwatches and, now, Google Assistant on Android Smartwatches (with Android Wear 2.0) you can search the web, manage appointments, holidays and e-mails. As the utility delivered by smartwatches grows and app ecosystem matures, the adoption and sales are likely to increase rapidly.
(this is a modified version of a blog posted by my colleague Carl Doty on our B2C Marketing page)
Sick of scouring sector landscapes with thousands of vendor logos organized into loosely defined categories? I mean, do you really need to know the names of scores of predictive analytics vendors out there?
What’s the total Martech ecosystem going to tally this year – 7000+ vendors?
Actually, yes. Yes it is. As my colleague Joe Stanhope wrote in a recent blog: “it’s hard to remember a time when there was such an unhealthy and unsustainable technology ecosystem.”
At Forrester, we’ve covered marketing technology and the now overused term – “left-brained marketing” - for nearly fifteen years. We've come a long way as an industry since then, and today Forrester's B2B marketing clients now enjoy step-by-step playbooks like the Lead-To-Revenue Management (L2RM) Playbook that help them get more out of their technology investments. This is becoming more important every day. Why? Because marketing technology now commands one-fifth of overall marketing budgets for B2B marketers. That’s already a sizable chunk, and we expect it to climb quickly because 41% of these marketers tell us that they still lack the technology they need to grow their business.
The Indian online retail market is in flux. On April 10, Flipkart raised $1.4 billion and added eBay, Tencent, and Microsoft to an investor list that already includes Tiger Global Management, Naspers Group, Accel Partners, and DST Global. In addition, Softbank is working on selling Snapdeal, the third-largest online retailer in India, to Flipkart and investing in Flipkart to take on the rapidly growing Amazon. This realignment of investors follows the slowdown in India’s online retail growth rate in 2016: We slashed our online retail forecast for India by more than a third to $48 billion by 2020, down from the $75 billion we estimated last year, due to demonetization, eCommerce restrictions, dwindling funding, and slow growth in the number of buyers. What does Flipkart’s news mean for the key players specifically and the market in general?
Hearst magazines announced last week that Amazon Alexa users could invite Oprah -- or at least her voice -- into their homes. Fans of the media personality, which includes just about everyone, can ask Alexa to play a quote recorded by Oprah from her 2014 book What I Know For Sure. A different quote will play each day. Other than the fact that the whole thing promotes the book, there are no other sponsors yet. Though that can easily change, see my post on the rise of ads on voice interfaces a few weeks ago. Hearst and Amazon not are exchanging money in the deal, though honestly you could make an argument for both sides to believe the other should pony up some earnest money. After all, this is Oprah. And it's Amazon. When two big brands collide, you never know which one has the most leverage. Evidently they've decided to postpone resolving that question.
For now there is no intelligence applied to the process and that is the big missing piece. There are about 90 quotes that Oprah has recorded, a different one will play each day. The real potential here is when the Oprah skill adds a bare minimum of artificial intelligence. Imagine coming home and asking Oprah for words of wisdom based on your needs in the moment. "Alexa, ask Oprah for help with raising my teenager," or "Alexa, ask Oprah how to reignite my love life," or "Alexa, ask Oprah what special gift I should get my sister for her birthday."
The new Forrester WaveTM: Customer Feedback Management Platforms, Q2, 2017 (paywall) is live! CFM platforms are part of a larger VoC vendor landscape and help CX professionals manage complexity by centralizing and automating essential VoC activities. This Wave scores 10 vendors that matter based on offering, revenue and interest by Forrester clients: Clarabridge, Confirmit, InMoment, MaritzCX, Medallia, NICE, Qualtrics, Satmetrix Systems, SMG, and Verint Systems.
To score these vendors, we developed a comprehensive set of evaluation criteria in three high-level buckets: Current offering, strategy, and market presence. The criteria and their weighting is based on past research and conversations with vendor and CFM users. Client references played a large role in our evaluation: We conducted 30 hours of client reference calls and fielded a survey among 60 client references.
Sick of scouring sector landscapes with thousands of vendor logos organized into loosely defined categories? I mean, do you really need to know the names of 150 programmatic display advertising vendors out there? What’s the total Martech ecosystem going to tally this year – 7000+ vendors? Actually, yes. Yes it is. As my colleague Joe Stanhope said in his work on the convergence of Martech and Adtech – it’s hard to remember a time when there was such an unhealthy and unsustainable technology ecosystem.
At Forrester, we’ve covered marketing technology and the now overused term – “left-brained marketing” - for nearly fifteen years. We've come a long way as an industry since then, and today Forrester's marketing clients now enjoy step-by-step playbooks like the Enterprise Marketing Technology Playbook, and the Lead-To-Revenue Management Playbook that help them get more out of their technology investments. This is becoming more important every day. Why? Because marketing technology now commands one-fifth of overall marketing budgets for B2C marketers. That’s already a sizable chunk, and we expect it to climb quickly because 41% of these marketers tell us that they still lack the technology they need to grow their business.
In the last few years, Google has made concerted efforts to target the enterprise cloud computing space. At Next 2017, more than 11,000 customers, partners, developers, and analysts joined Google in San Francisco to learn more about Google Cloud’s latest enterprise updates. We compiled this post following a review of the event with all the Forrester analysts who attended. Here’s our quick assessment from a CIO and CTO perspective:
Google Cloud’s enterprise pitch as a public cloud vendor has potential for tech leaders. Google Cloud primarily competes with AWS, Azure, and IBM in the cloud platform segment. Our impression is that Google offers superior technology compared with many other vendors in the enterprise space – but not all. Google has a good IaaS story, but its PaaS capabilities lag behind AWS. Google is not about to dethrone AWS or Azure right now, but it has a good chance to become a powerful competitor to them as it expands globally.