How Do New “Systems Of Insight” Power Great Mobile Moments And Customer Experiences?

Brian  Hopkins
Customers crave contextual and personal experiences on their mobile devices. Companies are looking to the reams of location and behavior data spun off mobile device to deliver them. Meanwhile, executives long for the insights lurking just below the surface of the new data they collect on customers and prospects to improve services and chart the best business strategy. 
 
In most companies, mobile engagement, customer analytics, innovation, and business strategy happen in silos and often half-heartedly. But disrupters like Uber, TripIt, Netflix, Flipboard, and Starbucks deliver great and personalized mobile and digital experiences -- and optimize outcomes -- with insights derived from all the data they can gather.
 
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Has Apple Thrown In the Towel?

James McQuivey

The rumors turn out to be true. Apple is buying Beats for $3 billion, just slightly less money than originally suggested. Now that it's official, I'm confidently reiterating my conviction that Apple cannot be spending this unprecedented sum on Beats for either its headphones or its subscription music business. Because while the company may be worth that much, it's not worth that much to Apple, the world's most innovative consumer electronics and consumer software maker. Because choosing to buy Beats purely for its existing businesses and revenues would represent Apple significantly lowering its sights, aiming to graduate right from innovative leader of life-changing technology to kinda-cool company that makes stuff teenagers like. Not that selling to teenagers isn't a good thing; it can certainly bring in money, but it doesn't typically generate long-lasting brand relationships.

To be clear, if Apple is buying Beats purely for its headphones or music subscription business, then Apple is making a mistake. However, there are those of us who still believe that Apple hasn't thrown in the towel. And why would it? There are still many consumer markets to dominate — entire markets like wearables and home automation tech and even in-car experiences, all of which are in their infancy — and Apple still has the smarts, the brand, and certainly the money to make a run for any of those things, if not all of them. So why would Apple instead sign up to become a holding company for fashionable but not life-changing brands?

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The IDEA Cycle -- A Better Way To Think About Mobile Development

Josh Bernoff

What are the four words everyone involved in mobile strategy should fear?

"Let's build an app!"

The reason you should fear these words is that they will lead to pain. Your CEO, or your CMO, or somebody else in your company has noticed that mobile engagement exists. Great. Now they're ready to plunge right in and create something without thinking it through. And if you're involved in mobile development, this means a whole lot of pain in your future.

There is a right way to think about mobile. It's called the IDEA cycle, and it's the central idea in our new book The Mobile Mind Shift

When you're wondering how to engage with your customers on mobile, follow these four steps, which you'll remember with the acronym IDEA:

  1. Identify the mobile moments and context. Think through your customer's day and how they interact with you. What are the moments in which she might turn to mobile? Is she ready to check in for a flight? Wondering what to buy her daughter for Christmas? Realizing that her prescription needs to be refilled? For each of these moments, there is a context -- the customer's location, history, and state of mind. Taken together, these moments represent the set of possible times and places in which mobile can help.
     
  2. Design the mobile engagement. Here's where you evaluate those mobile moments to determine which ones are most beneficial to the customer, and helpful to you as well. It's also where you think about the potential ways to interact, such as sending a push notification, displaying content, enabling sharing, or presenting a possible transaction.
     
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US Mobile Banking Benchmark: Chase And U.S. Bank Earn Top Scores But Banks Lag On Innovation

Peter Wannemacher

When it comes to mobile banking, customers' expectations are growing faster than the hair on a Chia Pet. So every year, Forrester reviews and scores the mobile banking offerings from the largest retail banks in the US across seven categories: Range of touchpoints; Enrollment and login; Account information; Transactional functionality; Service features; Cross-channel guidance; and marketing and sales. You can read the complete report here or by clicking on the link below:

Here is a sampling of some of our findings:

  • Chase and U.S. Bank tie for the top spot. With scores of 69 out of 100, Chase and U.S. Bank received the highest overall scores among the five banks we evaluated. Chase delivers the basics superbly, with a wide range of transactional features for transfers, bill pay, and P2P payments as well as strong cross-channel guidance for customers to contact Chase and find ATMs and branches. By contrast U.S. Bank stands out for more advanced features, including marketing and research for additional products, the ability to take a picture of a paper bill to enroll in bill pay, and the ability to pay another person using the contact list in a mobile phone.
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Canadian Mobile Banking Benchmark: CIBC Leads Overall Followed Closely By BMO And Scotiabank

Peter Wannemacher

In Canada, mobile banking is growing up faster than Justin Bieber. So from March 21 to April 9, 2014, Forrester reviewed and scored the mobile banking offerings from the five largest retail banks in Canada across seven categories: Range of touchpoints; Enrollment and login; Account information; Transactional functionality; Service features; Cross-channel guidance; and marketing and sales. You can read the complete report here or by clicking on the link below:

Here is a sampling of some of our findings:

  • CIBC earns the highest overall score with BMO and Scotiabank on its heels. With an overall score of 71 out of 100, CIBC received the highest overall scores among the five retail banks we evaluated, continuing the firm’s leadership in mobile banking since it launched its first iPhone app four years ago. But the other large Canadian banks are hot on CIBC’s trail: BMO and Scotiabank each earned a score of 70 out of 100 with impressive – and recent – overhauls of their mobile offerings. Scotiabank lets users apply for new products via mobile with pre-filled, mobile-optimized applications. BMO, meanwhile, ensures that all mobile money movement task flows are clear and consistent -- incorporating the same progress meter at the top of every screen.
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Decoding Huawei – Emergence as a Major IT Player Looms

Richard Fichera

Last month I attended Huawei’s annual Global Analyst Summit, for the requisite several days of mass presentations, executive meetings and tours that typically constitute such an event. Underneath my veneer of blasé cynicism, I was actually quite intrigued, since I really knew very little about Huawei. And what I did know was tainted by popular and persistent negatives – they were the ones who supposedly copied Cisco’s IP to get into the network business, and, until we got better acquainted with our own Federal Government’s little shenanigans, Huawei was the big bad boogie man who was going to spy on us with every piece of network equipment they installed.

Reality was quite a bit different. Ancient disputes about IP aside, I found a $40B technology powerhouse who is probably the least-known and understood company of its size in the world, and one which appears poised to pose major challenges to incumbents in several areas, including mainstream enterprise IT.

So you don’t know Huawei

First, some basics. Huawei’s 2013 revenue was $39.5 Billion, which puts it right up there with some much better-known names such as Lenovo, Oracle, Dell and Cisco.

 

% Revenue / $ revenue (Billions)

Annual Growth rate

Telco & network equipment

70 / $27.7

7%

Consumer (mobile devices)

24 / $9.5

18%

Enterprise business (servers, storage, software)

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Big Data's Big Meaning For Marketing

Fatemeh Khatibloo

Big data this, big data that. Hardly a day goes by when we're not bombarded with messages about the big data platforms and technologies that will solve all our marketing problems. Let's be honest though: these tools and technologies alone simply won’t solve the big data challenge. But the effect of all that media and market hype? A lot of confusion and mistrust on the part of marketing leaders about what big data really is, what it can do, and how it should be incorporated into business strategy. And that's holding a lot of firms back from maximizing the power of the data at their disposal. 

By now you're asking yourself how anything I've said so far is different or unique. Here it is: "big data" isn't about exabytes or petabytes. It's not about velocity. It's not a project or Hadoop or any other single thing. Big data is a journey that every company must take to close the gap between the data that's available to them, and the business insights they're deriving from that data. This is a definition that business and technology leaders alike can understand and use to better win, serve, and retain customers. 

My colleague, Brian Hopkins, and I have just published a pair of reports -- researched and written in parallel -- to help our marketing and technology management clients work together to tackle the opportunities and challenges of big data. Here are a few of the most interesting "a-ha" moments of the research:

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Reset On Big Data Or Miss The Big Change

Brian  Hopkins

Big data is undergoing big change, but most companies are missing it or just grasping at the edges. My colleague Fatemeh Khatibloo and I have just completed an exhaustive study of the big data phenomenon. We found a familiar pattern: business confusion in the face of stern warnings about the dangers of big data and vendor-sponsored papers extolling its benefits. Here’s what we found hidden beneath the buzz:

As data explodes, so do old ways of doing business.

Everywhere we look, we find businesses using more diverse, messier, and larger data sets to stay competitive in the age of the customer — like the consumer goods firm that allocated marketing dollars based on flu trend predictions and the oil and gas companies that used weather data to predict iceberg flows and extend their drilling season. Savvy businesses find ways to turn more data into a competitive advantage. If your firm doesn’t get this, it won’t be pretty — starting in the not too distant future.

Technology managers and architects can’t afford to sit back and think that their Hadoop project will deliver everything the business needs. Nor can you afford to think that big data isn’t for you because you don’t have that much data. Why? Because “big data” is really the practices and technologies that close the gap between the available data and the ability to turn that data into business insight — insight that your firm needs to survive and thrive in the age of the customer. Four things to understand:

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How Do New “Systems Of Insight” Power Great Mobile Moments And Customer Experiences? -- Launching New Research

Ted Schadler
Customers crave contextual and personal experiences on their mobile devices. Companies are looking to the reams of location and behavior data spun off mobile device to deliver them. Meanwhile, executives long for the insights lurking just below the surface of the new data they collect on customers and prospects to improve services and chart the best business strategy. 
 
In most companies, mobile engagement, customer analytics, innovation, and business strategy happen in silos and often half-heartedly. But disruptors like Uber, TripIt, Netflix, Flipboard, and Starbucks deliver great and personalized mobile and digital experiences -- and optimize outcomes -- with insights derived from all the data they can gather.
 
We believe these disrupters deliver great mobile experiences by building what my colleague Brian Hopkins has termed a “system of insight” that goes far beyond traditional analytics or big data approaches to gather, analyze, and operationalize all the data to deliver great mobile moments. These companies are different – they take a systematic approach to linking mobile data to big data analytics technology, staff, and operations. This lets them take advantage of mobile data to improve customer experiences and their business.
 
Brian and I believe that these firms are building systems of insight by:
  1. Gathering and mining mobile and location data to continually find and harness new customer insights. 
  2. Embedding predictive analytics engines into their engagement platforms to deliver contextual and personalized mobile and digital experiences based on each individual’s unique score and context.
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The Emerging Role For SVM Professionals In The Data Economy

Charles Green
Recent survey data from Forrester reveals that external third-party data is rapidly rising in importance to organizations. Such third-party data sets are rising in importance partially because they provide opportunities to take advantage of the explosion in data sources — for example, from data generated by the proliferation of mobile and other sensor-enabled devices. External data provides real value — not just in traditional use cases such as improving market intelligence data, but increasingly in improving customer experiences, such as EA Sports piping real-time weather data into its game venues to create more realistic gaming experiences.
 
Our recently published report, “Navigating The New Data Market Landscape,” explores how this explosion in data sources has given rise to a new market for data and data services — what will make up the foundation of the emerging data economy. The report aims to arm both technology management as well as business professionals with the knowledge to guide new data strategies, in particular with the possibility to incorporate external data into business intelligence and decision-making.
 
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