That question seems to come up often. I know I’m sitting on valuable data but I’m not sure just how valuable. When it comes to using the data internally to improve operational efficiency or service delivery, the resulting cost savings demonstrates the value. Or when using the data to identify new customer opportunities, either upsell to existing customers or identifying potential new customers, the resulting revenue generated demonstrates the value. But what if I want to take the data to market? What’s the data worth? That question is harder to answer, but not impossible.
The first question I’d ask myself is what I already know. What are the givens in the equation? Think back to a math course. You are trying to solve a problem. What have you been told? In fact, I’ve been doing math with my son and that exercise has helped me in framing the approach to pricing data. We know the length of one side of the triangle, and we know the relationship with the other sides. While we don’t know the length of all sides we know enough to figure it out.
In my stump speeches at partner conferences this year, I identify the No. 1 challenge that faces channel partners (and the tech vendors whose products they represent): partners’ inefficacy in reaching and resonating with line-of-business (LOB) decision-makers. It’s a disconcerting challenge indeed, due to the fact, of course (as Forrester’s Business Technographics® data repeatedly demonstrates), that LOB executives have strong influence over technology solution purchase decisions.
But that tide could be beginning to change. At Salesforce’s Dreamforce conference last week, Salesforce’s COO Keith Block lauded its channel partners, attributing much of Salesforce’s success in the past year to partners’ success in engaging C-level executives. Block specifically called out channel partners for their ability to empathize with CEOs’ goals of growth and shareholder gain. Block also claims that 40% of customers are insisting on channel partners’ strategic involvement in effecting solutions and business outcomes. And Salesforce tends to direct that business to its channel partners with proven business chops/acumen.
While Block’s partner callout may be considered more the exception than the rule today, it is still encouraging. Some channel partners are making the requisite investments and changes to regain relevance in the largely LOB-driven cloud era. And it shows in the data: Customers’ penchant for cloud channel sourcing has more than doubled, from fewer than 25% of cloud service/solution purchases via the channel in 2012 to more than 50% in 2016.
In 2014, I recognized something was a bit off with all the big data excitement and I started interviewing companies to get to the bottom of it. In 2015, Ted Schadler and I published the first of my ideas in the report "Digital Insights Are The New Currency Of Business." In that report, we pointed out what was wrong - big data only focused on how to turn more data into more insight. It didn’t say anything about how to turn that insight into more action. In that report we defined a system of insight, which focused big data energy on implementing insights in software using closed loops that create action and continous learning. Read more
Nokia’s services division recently hosted an analyst event where it elaborated on the interlinkage between network services and network infrastructure. Of course, network services matter to businesses and telcos because they help technology managers to better manage infrastructure complexity and to modernize network infrastructure with the goal of making networks faster and more reliable. However, there are more fundamental implications:
Network services add value to products and open new business areas. Customers want features and services that are relevant to them in the immediate context of their needs and desires. As more products become connected, network services will play a critical role in developing and enhancing such features. Moreover, network services play a central role in driving augmented and virtual-reality solutions in outdoor conditions, such as those already used in manufacturing by Caterpillar or in construction by BAM Group.
Earlier this week, I was moderating a panel on digital transformation at a Software AG event in New York. In opening the event, Kevin Niblock, Software AG's North America President and COO, described digital business as "a cultural phenomenon." Organizational culture plays an enormous role in the ability of a company's employees to transform a traditional business into a digital business.
If you're not the CEO, you might be forgiven for thinking that you have little control over your corporate culture. But we all have the opportunity to shape our organization's culture. And while nurturing the company culture is arguably one of the most important jobs of the CEO, it is also a critical capability for any leader.
Former IBM Chairman and CEO, Lou Gerstner, reminds us of this in an excellent Wall Street Journal (WSJ) article: "The Culture Ate Our Corporate Reputation". Gerstner writes: "What is critical to understand here is that people do not do what you expect but what you inspect. Culture is not a prime mover. Rather it is a derivative. It forms as a result of signals employees get from the corporate processes that structure their work priorities."
How often have you been told you can't use a mainstream public cloud provider? Quite often, probably, especially if you happen to work in a regulated industry like banking or healthcare. And what justifications are you given? The regulator "won't let you," no doubt? That's a good one. And "it's not secure" is often pretty close behind. Either that, or the argument that generic public cloud infrastructure can't possibly meet your very special, very unique, very carefully crafted mix of requirements?
Sadly, despite the frequency with which they're trotted out, these attempts at justification stand a pretty good chance of being either hearsay, or just complete nonsense.
It's easy not to change, and to justify your inertia with reference to the scary, punitive, hopelessly luddite regulator. It's easy to continue lovingly polishing the hideously complex snowflake your internal computing environment has become. It's far harder to look at the truth behind the hearsay, and to work out when doing something different might — or might not — be the better approach for your business, and its effort to win, serve, and retain customers.
The first week of October witnessed the start of the holiday sales season in India as the big three online retailers — Flipkart, Amazon, and Snapdeal — launched high-profile sales. Originally started by Flipkart in 2014 as Big Billions day, this week witnessed a discount-driven war among the top three players.
Online retail in India has witnessed significant growth during the past five years, powered by highly funded online retail companies that bought growth through discounts. This gross market value (GMV)-led growth led to very high valuations and burn rates for retailers, leading some investors to question their long-term profitability. This has led to a slowdown in funding as well as cost cutting by online retailers in the past six months. Before the start of the festive season, Flipkart was looking to maintain its market share; Amazon was looking to take market share from Flipkart, Snapdeal, and smaller players; and Snapdeal was looking to find a place in the changing dynamics of India’s online retail market.
Here are some of the key lessons from this festive sales season for the key players in the online retail market in India.
For years, technology purchasing has been moving away from a central IT approach and into the business. Forrester Data shows that in North American enterprises, 73% of technology spending is either business-led or the business provides significant input into IT’s purchase — up from 71% last year.
Clearly times have changed when it comes to technology purchasing, and business decision-makers (BDMs) are more critical to the process than ever. For example, North American enterprise BDMs reserve 41% of their respective budgets for technology purchases and expect to increase their total spend by 5% over the next year.
When asked why they are spending more of their business budget on technology, North American enterprise BDMs cited three critical reasons. First and foremost, technology is too important for the business not to be involved:
Second, the rising expectations of customers require the business to push IT to keep technology current. And finally, business executives’ understanding of technology is increasing; so, they can interact more effectively with IT.
Thirty-nine percent of North American enterprise BDMs believe that “software is the key enabler for their business,” and helps them to engage with customers. This trend is even more prevalent in Europe and Asia Pacific, where 51% and 58% of BDMs, respectively, believe the same thing. This significant attitudinal shift will continue to shape how software is acquired, deployed, and used to drive business success.
So how can you capitalize on the widespread and significant changes to the B2B technology landscape?
As analysts, we frequently get asked by clients and practitioners to recommend books they can read on various CX topics. So, in the spirit of CX Day, we (the CX analysts at Forrester) assembles a list of some of our favorite CX-related books to share with the A fewCX community. We hope you find them as inspiring and helpful as we have. Enjoy!
Everybody can name their favorite apps. But can you name even two mobile websites you love? We can't. So we stared into the awful maw of the mobile web to learn how to fix it. 65 companies signed up to help. Along the way, we found problems stemming from the journey you've taken to be in your customer's pocket.
My colleague Danielle Geoffroy brilliantly realized that it was a drunk history, so we wanted to share it with you.
2008: "There's an app for that." Savvy developers jailbroke the first iPhone so they could build apps. Apple then launched the Apple App Store and chaos ensued as every developer and company piled on the apps as the mobile strategy. (And y'all invented the pub game, "there's an app for that.") You ignored the mobile web.
2010: Responsive retrofits tiny-ize websites but miss the mobile moment. Agencies and creative developers swooped in to magically morph brands' giant desktop websites into "mobile-friendly" websites. But that strategy led to the quiet crisis that responsive web design is not mobile-first.
2016: Apps are winning . . . just not yours. Forrester's data shows that US consumers used 26 apps last year and 26 apps this year. (Millennials use . . . wait for it . . . 28 apps.) Consumers have enough apps — they don't want more. What's worse, they spend 60% of their total mobile time (web and app) in just three apps — usually owned by Facebook and Google.