An Approach To Converge The Worlds of Big Data And BI

Boris Evelson

Webster dictionary defines a synonym as "a word having the same or nearly the same meaning" or as "a word or expression accepted as another name for something." This is so true for popular definitions of BI and big data. Forrester defines BI as:

 

A set of methodologies, processes, architectures, and technologies that transform raw data into meaningful and useful information used to enable more effective strategic, tactical, and operational insights and decision-making.
 
While BI has been a thriving market for decades and will continue to flourish for the foreseeable future, the world doesn't stand still and:
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The Forrester Wave™: Enterprise Business Intelligence Platforms, Q1 2015

Boris Evelson

The majority of large organizations have either already shifted away from using BI as just another back-office process and toward competing on BI-enabled information or are in the process of doing so. Businesses can no longer compete just on the cost, margins, or quality of their products and services in an increasingly commoditized global economy. Two kinds of companies will ultimately be more successful, prosperous, and profitable:

  • More and deeper insights will generate competitive advantage. Companies with richer, more accurate information about their customers and products than their competitors will gain substantial competitive advantage.
  • Faster access to insights will make companies more agile. Companies that have the same quality of information as their competitors but get it sooner and can turn it into action faster will outpace their peers.
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The Forrester Wave: CRM Suites For Large Organizations, Q1 2015

Kate Leggett

The CRM market serving the large enterprise is mature. A great amount of consolidation has happened in the last five years. For example, Oracle, focused on providing consistent end-to-end customer experiences across touchpoints, has acquired a great number of point solutions to round out its customer experience portfolio. SAP, like Oracle, aims to provide consistent end-to-end customer experiences via its breadth of products and has also made a few key acquisitions. Similarly, Salesforce has made a series of moves to round out the Service Cloud. It has used this same tactic to broaden its CRM footprint with the notable acquisition of ExactTarget for business-to-company (B2C) marketing automation (2013).

The large CRM vendors increasingly offer broader and deeper capabilities which bloat their footprint and increase their complexity with features that many users can't leverage. At the same time, new point solution vendors are popping up at an unprecedented rate and are delivering modern interfaces and mobile-first strategies that address specific business problems such as sales performance management, lead to revenue management, and digital customer experience.

The breadth and depth of CRM capabilities available from vendor solutions makes it increasingly challenging to be confident of your technology choice. In the Forrester Wave: CRM Suites For Large Organizations, Q1 2015, we pinpoint the strengths of leading vendors that offer solutions suitable for large and very large CRM teams. Here are some of our key findings:

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Digital Experience Personalization Is Hollow Without Predictive

Rowan Curran

There’s no other way to slice it: competition for digital audiences is brutal. Intolerance for poor performance and disengaging experiences drives customers to competitor’s sites more quickly and more permanently than any time in history. Users increasingly demand digital experiences that personalize to their immediate needs and adapt to the current context, not treat them as a market or demographic segment.

In recently published research, we found that even as expectations soar, enterprises are personalizing with methods that are too unsophisticated, too opaque, or too convoluted to meet the complexity and mutability needed to serve individuals.  Persona-based segmentation is too simplistic to meet current, much less future, customer expectations. Some solutions provide predictive analytics capabilities but are limited to a few algorithms or black-box methods (e.g. neural networks) are not easily adaptable to new data or scenarios. Those that rely heavily on rules have become morasses, some customers needing to manage and maintain hundreds or thousands of rules to guide digital experiences.

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Get Input From The Right Stakeholders When Creating A Business Case For CRM

Kate Leggett

This year, organizations across industries show strong interest in revamping the technologies that they use to engage with customers. Our recent data indicates that over half of enterprise organizations have already implemented a CRM solution — and a high percentage are investing more to upgrade and expand their tool sets in the next few years. But even in this improving economy, senior business leaders are closely scrutinizing the ROI they expect from overhauling customer-facing processes and supporting technologies.

You need to build a business case correctly or risk launching CRM initiatives with a low chance of delivering clear business results. Almost as bad, poor communication of anticipated payback can prevent you from gaining funding for projects that would provide strong benefits.

So, what does a solid business case do for you?

  • It speeds up the project approval process. Clear communication leads to fewer passes through the funding process as everyone understands the goals and benefits of the project.
  • It increases  project success. When everyone knows the reasons, goals, and bounds of an initiative, project success improves. The business case serves as the North Star that keeps the project focused on key business goals and outcomes which are measurable and quantifiable.
  • It takes (some) emotion out of decisions. Decisions that involve a choice among competing platforms of large and powerful technology vendors often turn into emotionally charged battles between opposing camps within the organization. Moving the discussion to one of metrics and numbers minimizes the emotion and returns some level of objectivity back into the process.
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Adobe Tops The Technology Partner Podium

Anjali Yakkundi

Service providers are vital to the success and failure of digital experience delivery initiatives. In fact, one enterprise told me their services partner was “the saving grace” of their initiative. But only if they implement the right technology products.

My colleagues Ted Schadler, Peter Sheldon, and I asked about the technology vendor partner programs of 46 digital experience service providers from a variety of DNAs including technology services, consultancies, global digital agencies, and specialist firms. We asked for their top three technology partners in six different digital experience technology categories, including WCM, eCommerce, digital asset management, analytics, and campaign management. What did we discover? The results surprised us so we wanted to share them with you:

  • Adobe was a runaway winner across a broader digital experience delivery portfolio. Adobe had more than twice as many partnerships as any other technology vendor across the six product categories. Adobe earned this distinction with partnerships in four categories: WCM, digital asset management, campaign management, and customer analytics.
  • In WCM, Sitecore and Adobe reigned, while in eCommerce hybris, IBM, and Oracle lead. Adobe, Sitecore, Drupal, Microsoft, and Acquia lead in WCM partnerships: many serviceevangelize and support these solutions. When it comes to eCommerce, however, a different set of solutions topped the list: SAP hybris, IBM, Oracle, and Demandware. Interestingly, many services firms make a living out of integrating these best-of-breed WCM solutions with these best-of-breed commerce solutions for web and mobile redesigns.
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Consumer Expectations For Customer Service Don't Match What Companies Deliver

Kate Leggett

Customers want an accurate, relevant, and complete answer to their question upon first contact, so they can get back to what they were doing before the issue arose. Forrester data shows that 55% of US online adults are likely to abandon their online purchase if they cannot find a quick answer to their question; 77% say that valuing their time is the most important thing a company can do to provide them with good online customer service.

It's no surprise that our recent survey data shows that customers of all ages are increasingly using self-service channels (web, mobile, IVR)  for a first point of contact for customer service. In fact, for the first time in the history of our survey, respondents reported using the FAQ pages on a company's website more often than speaking with an agent over the phone. Self-service gives you that "pain-free" experience that consumers want. Customers escalate the harder questions to a live agent - whether its chat, email or a phone agent - and these calls become opportunities to help build stronger relationships with your customers to garner their long-term loyalty.

What is comforting is that the 2015 survey results from Dimension Data is saying the same thing too. This report is based on responses from over 900 global contact center decision makers covering 12 industry verticals. Some of their key findings say that "Customers want a frictionless, easy, and immediate journey on channels of their choice. They want a connected omnichannel journey across channels. Complexity levels are intensifying as contact centers evolve into channel resolution hubs."

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"Matchmaker, Matchmaker, make me a match......." Behavioral analytics improves connecting contact center agents to customers

Art Schoeller

In the Tony Award-winning musical “Fiddler on the Roof,” Tevye, the father of five daughters, bemoaned the erosion of tradition where his daughters wanted to marry for love instead of cultural preservation. The cultural norm was to make use of a matchmaker to seek out mates that satisfied familial desires and goals on both sides. In similar fashion, more traditional queuing and routing schemes used in contact centers may get a customer to a qualified agent, but their style and approach may not produce the “magic moment” of a highly satisfying interaction.

Today, advances in processing power, software algorithms, and availability of consumer information have come together to allow for a more advanced method of matching agents with callers. Behavioral analytics applies models of behavioral styles, tracks successful matches that drive better interaction outcomes, and provides an ongoing feedback loop to tune the model for each enterprise. Case studies from Mattersight and Satmap, two vendors who specialize in this software, have demonstrated uplifts in revenues and positive impacts on handle time and customer satisfaction.

Satmap helped one of the largest telecommunications carriers in the United States boost sales conversion rates by 6%, driving $100 million in incremental revenue over a two-year period. The trial included alternating periods of turning Satmap on, and then off, to provide outcome comparisons.

CVS Caremark adopted Mattersight Predictive Behavioral Routing and was able to drive an 8.4% reduction in average talk time during their proof of concept trial. CVS is also using the data to better target training and coaching to agents.

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All Broadband Is Local

Ted Schadler

All broadband is local. If the Internet pipe that reaches your home or small business is too slow (or too expensive), then all the net neutrality regulations in the land won't help citizens avoid the Netflix spinning wheel (or the logy load times of valuable Internet services for education, employment, communications, and banking).

Companies -- both technology leaders and marketing leaders -- should care about the quality of broadband to homes and small businesses. Why? Because your ability to deliver great digital customer experiences is hampered when broadband speeds are low. 

I'm all in favor of a robust national discussion about net neutrality, particularly if the discussion balances market conditions for Internet services against market conditions for broadband providers, a challenge that begins with transparency and competition rather than controls. (See this for some ideas on the importance of transparency, market forces, and local competition.)

And I'm certainly massively in favor of Internet-driven "human rights, innovation, and progress" as Tim Berners-Lee espouses. But I am not convinced that over-regulating our country's Internet pipes will solve our spinning wheel problems. Ask yourself these questions:

  • Why did the Internet at home slow to a crawl during the Boston blizzards?
  • Why does Google invest some of its massive profits to provide 100 gigabit bandwidth to homes in Kansas City, Austin, and Provo, with 34 more cities coming?
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Start Planning To Provide Social Customer Support Beyond Twitter and Facebook

Ian Jacobs

Industry analysts travel—a lot. It is, therefore, no surprise that I care deeply about airlines’ frequent flyer programs and track the changes to those programs as closely as baseball obsessives track star players’ slugging percentages. When I want information on what these changes mean practically in my situation (Will the new loyalty program make it harder for a 75k+ elite member looking to book a companion ticket’s upgrade on an alliance partner airline, for example), I typically do not turn directly to the airline. Instead, I log on to Flyertalk, a forum that bills itself as “the largest expert travel community.” The forum—populated by thousands of frequent fliers far more obsessive than I will ever be—consistently houses discussions of exactly the thing I want to know.

The lion’s share of people answering questions on Flyertalk and other forums like it—Cruisecritic for the cruising fans, TripAdvisor for travel and hospitality broadly, AutomotiveForums for car enthusiasts, etc.—are other consumers, albeit well-informed ones. But these non-brand controlled communities provide opportunities to brands to differentiate themselves through service.  Because affinity communities have barriers to entry, including registrations and jargon, community members are usually deeply interested in the topic at hand. In communities that regularly discuss brands, these customers are also more likely to be exactly the type of high-value customers that companies want to provide with great customer experiences. But brands need to decide when and how to engage customers in these forums they do not control.

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