The Forrester S&R team has doubled in size during the last several years. Today, we're 17 analysts and researchers across the US, Europe, and India, 19 if you count the research associates that support every project. Given the size of the team and the degree to which analysts have been able to specialize, we decided that we'd take a little time each month to highlight each member of the team in one of our bi-monthly newsletters and in a short podcast. If you're not signed up for our newsletters, I highly encourage you to do so, please email email@example.com for additional details. In the meantime, click below to listen to our analyst spotlight on Senior Analyst, Tyler Shields.
S&R Podcast Listening Options
Click here to download the MP3 file of this episode.
When it comes to data technology, are you lost in translation? What's the difference between data federation, virtualization, and data or information-as-a-service? Are columnar databases also relational? Does one use the same or different tools for BAM (Business Activity Monitoring) and for CEP (Complex Event Processing)? These questions are just the tip of the iceberg of a plethora of terms and definitions in the rich and complex world of enterprise data and information. Enterprise application developers, data, and information architects manage multiple challenges on a daily basis already, and the last thing they need to deal with are misunderstandings of the various data technology component definitions.
Last March, we published The Future Of Business Is Digital and predicted that all businesses must evolve to become digital businesses. Since then, many CIOs in government agencies have asked about the role of digital in government. And yesterday, on The White House Blog, the president made it clear where he stands: The future of government is digital!
In announcing the creation of the US Digital Service, President Obama is reinforcing the need to bring greater agility to federal technology management in service of citizen taxpayers who foot the bill.
"A core part of the President’s Management Agenda is improving the value we deliver to citizens through Federal IT. That’s why, today, the Administration is formally launching the U.S. Digital Service. The Digital Service will be a small team made up of our country’s brightest digital talent that will work with agencies to remove barriers to exceptional service delivery and help remake the digital experience that people and businesses have with their government."
More than two years ago, Westpac – a bank in New Zealand – rolled out its “Cash Tank” feature for mobile bankers. Suddenly, customers could view key information like account balances without needing to log in (needless to say, it was and is opt-in-only). This new mobile banking feature immediately made a splash and was hailed as a small-but-impressive innovation. Other banks – such as Société Générale in France and Bank of the West in the US – offer similar pre-login information features.
This led folks like me to wonder: How might digital teams at banks take pre-login information further or make it even better?
Great digital strategy is often about pushing the limits – and not just in big ways. So Citi’s recent update to its smartphone apps is noteworthy for the bank’s decision to push the idea of pre-login information even further with Citi Mobile Snapshot. Citi customers who bank via their mobile phones can view not only balances but recent transactions without the hassle of logging in.
We spoke with Andres Wolberg-Stok, Global Head of Emerging Platforms and Services who shared with us a diagram that demonstrates the evolution of its mobile banking effort before and after Citi Mobile Snapshot (see below).
Forrester’s survey data shows that the vast majority of Indian CIOs (87%) consider addressing rising customer expectations and improving customer satisfaction to be their top business priorities. Soaring customer demand is putting pressure on businesses to invest in customer experience (CX) initiatives. For my recently published report, The State Of Customer Experience Management In India, 2014, we surveyed 89 CX professionals in Indian organizations and asked them about their spending plans for 2014. Here's what we found: 60% of them expect to spend more on CX programs this year.
While this increased spending on CX by Indian organizations is encouraging, their initiatives too often lack alignment with business goals. We asked the same set of CX professionals about their key CX practices and found that 44% don’t regularly model the influence of CX metrics on business outcomes, while 49% don’t consistently consider alignment with CX strategy as a criterion for project funding and prioritization decisions.
These findings highlight the disconnect between organizations’ commitment to boosting CX and the impact of these initiatives on business outcomes. In the long run, this disconnect has two implications for organizations and their CX teams:
Lack of business alignment with soaring customer demands will result in dissatisfaction and churn. While business investment in CX is growing in India, initiatives that don't align with desired business goals will fail to result in desired business outcomes, thus creating a gap between market demand and the business offering.
On the heels of the CrossIdeas acquisition (about which we have recently published a QuickTake), IBM today acquired another IAM cloud provider, Lighthouse Security Group. Its product and service, Lighhouse Gateway, is a small cloud provider that appeared in our Cloud IAM Wave and we were impressed by the "slickness" and ease-of-use of its customer interface for administration (policy management) and also for end users (Lighthouse Gateway provides its own front-end to ISIM and ISAM).
Now we recommend that IAM security and risk professionals should ask IBM the following questions about the acquisition:
1) How will IBM offer Lighthouse Gateway? Will it be an add-on to ISIM and ISAM licenses or will it be a standalone offering or both?
2) How will IBM integrate the beautiful user interface of Lighthouse Gateway into ISIM and ISAM on-premises offerings?
3) How will the new IBM IAM access governance ecosystem of ISIM+CrossIdeas be merged with Lighthouse Gateway?
It’s a fact: Marketers in Asia purchase digital technologies without involving the tech management department. They do it because they believe that:
Digital technologies are key enablers of successful marketing strategies. Customers in Asia Pacific in general, and in Singapore in particular, are always connected and empowered by technology to access the right information in their moments of need. They increasingly value — and do business with — organizations that provide them with experiences that are effective, easy, and emotional across all customer touchpoints. It’s not a surprise, then to see marketing professionals — just like their colleagues in sales, product management, and customer service — source digital technologies to enable such experiences.
The tech management department hinders their business success. This is the more worrying part, but if you take a step back, as a technology management professional, you understand why. You work with technology life cycles that are oriented toward core business, back-end systems like enterprise resource planning and therefore are risk-averse and slow. However, marketers need tech management professionals who are open to innovation, experimentation, and moving toward a risk-tolerant, agile life cycle that supports digital experience delivery.
For many organizations, the digital journey is full of potential roadblocks. Successful organizations excel at overcoming traditional operational practices, approaches, and mindsets to enable change.
For a well-known global brand like Avon, embracing an omnichannel approach to customer engagement was essential to continue thriving in a digital world. We’re therefore pleased to have Carl Mogridge speak at Forrester’s Summit For Marketing & Strategy Professionals: Australia. Carl is head of digital at Avon Products, leading the company’s initiatives to implement systematic, measurable change on the path to digital disruption.
Carl was kind enough to answer a few of our questions about what he’s doing. Those of you who’ll be with us in Sydney this Wednesday, August 13, can hear even more from Carl. I hope to see you there!
Q: When did your company first begin focusing on the customer experience? Why?
Avon is 127 years old and from day one we’ve focused on creating customer-centric conversations based on personalized service and innovative products. At Avon, we want to be helpful, safe, and reliable to our customers — so our entire customer experience strategy revolves around these simple criteria.
Q: How do you determine which aspects of the customer experience you must try to excel at?
Chances are, you've recently visited a brand's webpage and stumbled upon a visually appealing, Pinterest-like media gallery with photos of happy customers and the brand's products. Today, media galleries are all the rage as marketers attempt to capture the priceless content their audiences are generating on social networks and at live events. But before you run out and invest what's left of your 2014 marketing budget on a social content curation platform (see Figure 2 from this report) make sure social content curation will help you:
Last week, two news items captured the front-page headlines of the Indian financial newspapers. The first was an announcement by Flipkart on July 29 that it has raised fresh capital of $1 billion in one of the largest funding rounds. The second was an announcement by Amazon on July 30 that it will invest another $2 billion in India. These numbers appeared large to us when seen in the context of overall online retail sales in India. As per the Forrester Asia Pacific online retail forecast published in early October 2013, India’s online retail spending was expected to reach $2 billion by the end of 2013. We believe that the pace of eCommerce in India picked up faster than our expectations during the past 12 months and these companies would have witnessed very strong growth. According to Amazon, at current scale and growth rates, India is on track to become the fastest country ever to reach $1 billion in gross sales. It is important to note that Amazon launched India operations in June 2013 only.
These events raised many interesting research questions for us. We will try to address them as we work toward updating our APAC online retail forecast for the years 2014 to 2019. The two most important questions relate to the number of online buyers in India and the mobile commerce opportunity in India.