Understand The Promise Of Real-time Speech Analytics To Prepare To Overcome A (Large) Budget Hurdle

Ian Jacobs

“With the gift of listening comes the gift of healing.”

-Catherine de Hueck Doherty

We’ve all heard the canned notifications when we call companies for customer service: “this call may be recorded for security or quality purposes.” Most customer service organizations today record their phone interactions with their customers. Often those recordings just sit untouched on the digital equivalent of a dusty shelf in a storage closet. The recordings are there to ensure regulatory compliance or, in rare cases, to be pulled off the shelf in case of a major dispute with a customer.  In essence, the part of the notification about security rings true; the quality part, not so much.

But, as part of continuous improvement programs, companies have begun to change that by actually analyzing the recordings for quality purposes. That process of quality monitoring allows firms to select recordings for review and assessment. In forward-thinking organizations, the tools enable managers to replay agent screen actions, allowing evaluations to include screen activity in addition to voice content. Managers use these reviews to pinpoint which agents perform well, which need further training, and to identify processes that need to be refined.

Companies doing this basic form of quality monitoring, however, find they cannot change the outcome of those calls — the interactions are long since over. This is where the emerging field of real-time speech analytics comes into play. Vendors of real-time speech analytics tools promise to allow companies to intervene at the moment of truth, while the customer and the contact center agent are still talking.

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Build An Agile BI Organization

Boris Evelson

The battle of trying to apply traditional waterfall software development life-cycle (SDLC) methodology and project management to Business Intelligence (BI) has already been fought — and largely lost. These approaches and best practices, which apply to most other enterprise applications, work well in some cases, as with very well-defined and stable BI capabilities like tax or regulatory reporting. Mission-critical, enterprise-grade BI apps can also have a reasonably long shelf life of a year or more. But these best practices do not work for the majority of BI strategies, where requirements change much faster than these traditional approaches can support; by the time a traditional BI application development team rolls out what it thought was a well-designed BI application, it's too late. As a result, BI pros need to move beyond earlier-generation BI support organizations to:

  • Focus on business outcomes, not just technologies. Earlier-generation BI programs lacked an "outputs first" mentality. Those projects employed bottom-up approaches that focused on the program and technology first, leaving clients without the proper outputs that they needed to manage the business. Organizations should use a top-down approach that defines key performance indicators, metrics, and measures that align with the business strategy. They must first stop and determine the population of information required to manage the business and then address technology and data needs.
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Pick The Right Web Content Management System -- It's The Backbone Of Your Digital Experiences

Ted Schadler

With 25 years of history and 178 million active public websites around the world, you would think that the backbone technology for websites would be mature, sophisticated, basically done as a market. But it's simply not true. Web content management (WCM) systems are still in their infancy. Here's the one-minute history:

  • 1995. These ever-changing systems first had to learn to deliver content interactively, tailoring the experience to the needs of the day. Think Yahoo.com.
  • 2000. Then they had to deliver business services directly into customers' hands. Think eBusiness.
  • 2010. Then they had to deliver experiences on smartphones and tablets. Think Google Maps app.
  • 2015. And now they have to deliver highly personal digital experiences on any device directly into a customer's immediate context and moments of need along every step of her journey (see Figure 1).
  • 2020. What's coming next? Well, let's get the platforms up to 2015 requirements first. But those of you with a future slant need to be thinking about modern app architectures, where the building blocks -- content systems, digital insights, customer databases, integration, delivery tier, and so on are decoupled to handle IoT, glanceable moments on wearables, and a gazillion other digital scenarios.
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Spend on Commerce Technology Set to Nearly Double by 2019

Peter Sheldon

Over the past four years, the commerce technology market has undergone significant consolidation. Commerce technology is now table stakes for any enterprise software vendor with a focus on systems of engagement. Consequently, Forrester has observed an unprecedented chain of mergers and acquisitions (M&A) in this space over the past four years with eBay, IBM, Oracle and SAP alone, having spent in aggregate over $10 billion on commerce related acquisitions. Furthermore venture capital and private equity firms have been making big bets in this space. Between them, Shopify, Volusion and Big Commerce have accumulated $337 million in funding in the past few years, while Siris Capital Group are set to shortly complete their acquisition of Digital River for $840 million. Beyond these headline transactions, dozens of smaller deals have been done, with vendors including Demandware and NetSuite both having been on acquisition binges’ in the past 12 months. 

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Five Key Trends In Global eCommerce

Zia Daniell Wigder

Yesterday I had a chance to join the fantastic Global eCommerce Leaders Forum here in New York. Leaders from Puma, Borderfree and Alibaba delivered keynotes at the event, and in the afternoon, I did a quick presentation on five key themes in global eCommerce to tee up a panel on international expansion:

The Asia pivot. Arguably the biggest story in global eCommerce over the past five years has been the rise of China as an eCommerce force. No other eCommerce market has rivaled China’s ascent to power: Between 2009 and 2014, revenues increased by 16-fold, reaching over $440B in 2014. That shift fundamentally changed how brands view eCommerce in Asia. Instead of contemplating expansion into Asia only after years of operating in North America or Europe, a digital strategy for Asia—and China in particular—is now front and center for many brands.

Options for brands beyond direct sites. Today there are very few brands whose global expansion plans focus exclusively on localized, direct-to-consumer sites. Cross-border shipping and marketplaces —two relatively low-cost, low-risk approaches to international expansion—now factor into the consideration set of almost every brand evaluating new global markets. Indeed, today many solutions are available which enable brands to tap into online shoppers overseas without massive investments or years of preparation.  While direct sites will remain a core part of brands’ global expansion efforts—and their value unrivaled in many ways—other approaches will increasingly supplement this tried and true method.

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A Glimpse Into The Future: Software Goes Invisible

Michael Yamnitsky

Software is getting smarter, thanks to predictive analytics, machine learning, and artificial intelligence (AI). Whereas the current generation of software is about enabling smarter decision-making for humans, we’re starting to see “invisible software" capable of performing tasks without human intervention. 

One such example is x.ai, a software-based personal assistant that schedules meetings for you. With no user interface, you simply cc “Amy” on an email thread and she goes to work engaging with the recipient to find a date and optimal place to meet.

It’s not a perfectly automated system. AI trainers oversee Amy’s interactions and make adjustments on the fly. But over time, she becomes a great personal assistant who is sensitive to your meeting and communication preferences. 

One can imagine Amy extending into new domains — taking on parts of sales/customer service operations or business processes like expense management and DevOps. Indeed, we’ll see a new generation of AI-powered apps, as predicted here.

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Pick The Best Video Platform For Customer Or Employee Engagement

Philipp Karcher
To capture, manage, and deliver live and on-demand video you need a video platform. Selecting the right platform helps companies maximize the impact of video on customer and employee experiences. 
 
Enterprises looking at applications for video across marketing, corporate communications, and training need to consider products in multiple categories. Our just-published Forrester Wave on Enterprise Video Platforms and Webcasting evaluates the 16 leading providers focused on live presentations with slides and publishing video on demand. We included BrightTALK, Cisco, InXpo, Kaltura, Kontiki, Kulu Valley, MediaPlatform, Nasdaq, On24, Panopto, Polycom, Qumu, Ramp, Sonic Foundry, TalkPoint (PGi), and VBrick in the evaluation.
 

 
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The Future Of Insurance Is More Mobile Than Ever

Ellen Carney

When I started  in the tech industry in the late 80’s, I used to think that we lived in dog years:  The pace in “high-tech” (a term that sounds so quaint now, doesn’t it?) was that we packed seven years’ worth of work, development, business, play, pressure—you name it—into a single year. 

Fast forward to today, and the pace of digital change—and pressure—has accelerated to pack even more change into smaller units of time.  Technologies like QR codes, Near Field Communications (NFC), photo-image capture, and now voice control are maturing. What was a mobile novelty two years ago now feels dated.  

And consider that we are addicted to mobile. As consumers, we have enthusiastically embraced mobile devices, thanks to a regular stream of flashy new interfaces and capabilities. For many people, a mobile device is the last thing they touch before going to sleep and the first thing they grab for when they wake up. The behavioral changes that these feature-dense devices have encouraged is transforming how customers engage with their insurance companies and with the extended insurance ecosystem—all while pressuring digital insurance and business technology teams, processes, and budgets.   Consider just two of the impacts that the ubiquity and proximity of mobile devices has resulted in:

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The Rapidly Changing Role Of B2B Salespeople In A Digital-First Environment

Andy Hoar

With B2B buyers rapidly shifting their behavior from researching and buying offline to researching and buying both offline and online, B2B companies are radically reshaping their channel sales strategies. Most notably, B2B sellers are shifting resources and capabilities online as well as fundamentally redefining the role of their salespeople.

Join us for the Forrester Sales Enablement Forum on March 2-3, 2015 in Phoenix to hear Forrester’s latest thinking about the future of B2B selling.  At 11:30a on March 3, we’ll be revealing first-ever research in the space about the number of B2B salespeople who will be displaced in the next several years. In addition, we'll be talking about what B2B companies must do to prepare for a global, digitally-driven, real-time buying environment where software -- as opposed to salespeople -- will dynamically set prices, personalize products and services, and process and service orders 24/7/365.  

Hope to see you there.

Beyond Big Data's Vs: Fast Data Is More Than Data Velocity

Michele Goetz

When you hear the term fast data the first thought is probably the velocity of the data.  Not unusual in the realm of big data where velocity is one of the V's everyone talked about.  However, fast data encompasses more than a data characteristic, it is about how quickly you can get and use insight.  

Working with Noel Yuhanna on an upcoming report on how to develop your data management roadmap, we found speed was a continuous theme to achieve. Clients consistently call out speed as what holds them back.  How they interpret what speed means is the crux of the issue.

Technology management thinks about how quickly data is provisioned.  The solution is a faster engine - in-memory grids like SAP HANA become the tool of choice.  This is the wrong way to think about it.  Simply serving up data with faster integration and a high performance platform is what we have always done - better box, better integration software, better data warehouse.  Why use the same solution that in a year or two runs against the same wall? 

The other side of the equation is that sending data out faster ignores what business stakeholders and analytics teams want.  Speed to the business encompasses self-service data acquisition, faster deployment of data services, and faster changes.  The reason, they need to act on the data and insights.    

The right strategy is to create a vision that orients toward business outcomes.  Today's reality is that we live in a world where it is no longer about first to market, we have to be about first to value.  First to value with our customers, and first to value with our business capabilities.  The speed at which insights are gained and ultimately how they are put to use is your data management strategy.  

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