Is Big Data Enough? (Ramping Up For Strata In San Jose)

Brian  Hopkins

I’m ramping up to attend Strata in San Jose, February 18, 19 and 20th. Here is some info to help everyone who wants to connect and share thoughts. Looking forward to great sessions and a lot of thought leadership.

I’ll be setting aside some time for 1:1 meetings (Booked Full)

[Updated on 2/17] - I have set up some blocks of time to meet with people at Strata. Please follow the link below to schedule with me on a first come basis.

meetme.so/BHopkins_1on1_20Mins

[Update] - I booked out inside 2 hours...didn't expect that! I may open up my calendar for more meetings but need to get a better bead on the sessions I want to attend first. Shoot to catch me at breakfast, will tweet out when I'm there.

I’ll be posting my thoughts and locations on Twitter

The best way to connect with me at Strata is to follow me on Twitter @practicingea

You can post @ me or DM me. I’ll be posting my location and you can drop by for ad hoc conversations as well.

I’m very interested in your point of view - data driven to insights driven

I am concluding very quickly that “big data” as we have viewed it for the last five years is not enough. I see firms using words like “real-time” or “right-time” or “fast data” to suggest the need is much bigger than big data – its about connecting data to action in a continuous learning loop.

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The Future Of Mobile Wallets Lies Beyond Payments

Thomas Husson

Apple Pay makes up more than $2 out of $3 spent on purchases using contactless payment across the three major US card networks. I agree with my colleague Sucharita Mulpuru that this is likely a big chunk of a small pie, considering the lower maturity of the mobile contactless ecosystem in the US. It's always better to look for absolute value. In this regard, PayPal processed $46 billion in mobile payment volume in 2014, up 68% over 2013.

Should marketers care about mobile wallets? Yes. Mobile wallets are not just about mobile payments. Consumers want a better shopping experience. Offering faster or more-secure payments is not enough; wallet providers will have to solve real pain points, such as giving consumers the ability to see what’s on stored value cards at any moment in time, access loyalty points, or automatically receive digital copies of payment receipts. In particular, 57% of US online adult smartphone users are interested in having access to loyalty program points and rewards within a mobile wallet. Access to loyalty rewards from brands is the most wanted feature from consumers, and it's the one least integrated in mobile wallets today.

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Black Friday Plagues the 2014 UK Holiday Sales Season

Michelle Beeson

Black Friday has been a constant feature in the postmortem of the 2014 UK holiday sales season. It has gradually extended its influence across the Atlantic over the years; despite having no cultural significance outside of the US (Black Friday is a sales day that traditionally follows the US Thanksgiving holiday). Retailers in France, Germany and Spain tested the waters with Black Friday promotions in 2014. But it was in the UK where Black Friday sales surged to new heights.

UK retailers who embraced Black Friday reported massive sales uplift on the day. Department store House of Fraser recorded a 125% increase in year on year sales while Very.co.uk saw orders jump 134% compared to Black Friday 2013.Yet, for most, this uplift did not translate to an overall sales increase or the holiday season.

Our new report "Black Friday: The Sales That Stole Christmas", written with my colleague Martin Gill, evaluates the impact of Black Friday sales in the UK holiday season 2014, foretelling what is on the horizon for the rest of Europe as:

Black Friday Has Changes The Cadence Of Holiday Sales. Black Friday has arrived in the UK with a bang, but for most eBusiness executives it hasn’t driven a massive sales uplift. Instead, it’s pulled customer purchasing forward in the holiday season, leaving like-for-like sales reasonably static.

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Black Friday: The Sale That Stole Christmas

Martin Gill

Black Friday is here.

By here, I mean here in Europe. And it’s here to stay.

Amazon launched Europe’s first Black Friday sale in 2010, with a small fanfare and some success. Most European retailers did the polite thing, and looked bashfully away while their brash American cousins celebrated a day with zero cultural significance this side of the Atlantic. “We’ll wait for Boxing Day” was the overwhelming sentiment.

But consumers bit, and the following year a small handful of global brands like Apple and Walmart (in the form of its UK subsidiary Asda) followed suit. Black Friday grew somewhat organically.

But 2014 was different.

Previous Black Friday successes unleashed a literal tidal wave of copy-cats in the run up to Christmas last year. This was most publically a UK phenomenon, with well-known brands like John Lewis taking part, but don’t fool yourself into thinking it was just a quaintly British emulation of the American trend. French and German retailers like Darty and Saturn also indulged. Akamai saw triple the normal web traffic to retail websites across Europe on Black Friday. But it was the UK that bore the brunt of the impact as:

  • High profile websites buckled and crashed under unprecedented load, with many retailers reporting upwards of a 300% uplift in traffic on Black Friday.
  • Riots in stores saw police called.
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Two Weeks Left To Enter The 2015 Forrester Groundswell Awards!

Nate Elliott

You deserve to be recognized for the great work you do in social -- but there's not much time left! 

We're now accepting entries for the 2015 Forrester Groundswell Awards, and we'd love a chance to recgonize your social programs for their excellence. The deadline for entries this year is February 20, and we're once again accepting entries in both B2C and B2B marketing categories. Entry is free, and winners will be invited to accept their trophies in person at the Forrester Marketing Leadership Forum in April.

For more details, check out our FAQ and our entry form. We look forward to seeing your entries by February 20!

Welcome back to integration technologies!!!

Henry Peyret

There’s a renewed interest in integration technologies due to new needs for integration to mobile, the Internet of Things (IoT), and cloud — but also because integration requirements betwen systems of engagement and systems of record are requiring realtime for seamless boundaries omnichannel, higher volume, with end-to-end security highlight the changes in integration practices. Forrester will soon publish a report about the integration trends around these subjects.

I am happy to pick up this subject again from Stefan Ried after being away from the space for the past six years. Stefan left Forrester in December and I regret his departure, because he was a very passionate analyst and a smart guy to work with.

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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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