The Next Decade Will Be About The Industrial Internet

Dan Bieler

Photo: Bergmann

“The industrial companies that can bring together cloud, open source, and real-time process management with industrial product cycles will be the ones that will win in the digital transformation process.”

William Ruh, CEO for GE Digital

At Mobile World Congress 2016, GE outlined some fundamental insights about the digital transformation efforts of industrial businesses. William Ruh, CEO for GE Digital, a US$6 billion business of General Electric, shared valuable insights about the digital transformation process that industrial businesses need to tackle.

Digital Transformation Is Happening And Offers New Opportunities

Companies that fail to embrace digitization won’t be able to compete in the next decade. William Ruh stressed that while the past decade was primarily about the consumer Internet, the next decade will be about the industrial Internet. Digitization offers one of the biggest opportunities in many decades to companies that are willing to change:

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Digital Innovation Labs For Customers: Do They Inspire?

Nigel Fenwick

EinsteinMany technology vendors tell me they have established digital innovation labs as a place to bring customers and inspire them. So I was wondering, have you and your leadership team visited such a lab? If so, I'd like to hear from you:

  • What did you like? 
  • What didn't work so well?
  • Were any of your expectations not met?
  • Did your team come away inspired?
  • If so, what did you do differently as a result?
  • What would you like to see more of?

Drop me a confidential note via Twitter @NigelFenwick, LinkedIn or email me (or simply comment below - not confidential).

(If you're a vendor with an innovation lab, send me a factsheet about your lab(s)). 

Thanks.

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Forrester’s FSI Summit In Singapore: Accelerating Digital Business And Innovation In Financial Services

Dane Anderson

A recent Forrester survey found that business leaders in the financial services industry (FSI) saw 34% of revenues in 2015 generated through digital products and services or products sold online. Their expectation is that this digital quotient will surge to more than half of their business by 2020, leading to a digital arms (and capabilities) race against a new breed of competitor. JP Morgan CEO Jamie Dimon accurately sums up the new competitive dynamic when he notes that “there are hundreds of startups with a lot of brains and money working on various alternatives to traditional banking.”

Our inaugural invitation-only summit in Singapore on Friday, April 15 will bring together an intimate group of senior executives from banks, insurance companies, and fintech firms to share Forrester’s latest FSI digital business research and facilitate a discussion with industry leaders. Our team of esteemed analysts will lead the discussion; here is a snapshot of the topics that will be presented on the morning of the summit:

  • Frederic Giron (Vice President and Research Director serving CIOs – Singapore): Accelerating Digital Business In Financial Services
  • Oliwia Berdak (Senior Analyst serving eBusiness and channel strategy professionals – London): How To Organize For Digital Financial Innovation
  • Randy Heffner (Vice President and Principal Analyst serving application development and delivery professionals – Dallas): APIs Take Center Stage In Financial Services
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Forrester’s Security & Risk Spotlight – Jeff Pollard

Stephanie Balaouras

One of the S&R team’s newest additions, Principal Analyst Jeff Pollard comes to Forrester after many years at major security services firms. His research guides client initiatives related to managed security services, security outsourcing, and security economics, and integrating security services into operational workflows, incident response processes, threat intelligence applications, and business requirements. Jeff is already racking up briefings and client inquiries, so get on his schedule while you still can! (As a side note, while incident response is generally not funny, Jeff is. He would be at least a strong 3 seed in a hypothetical Forrester Analyst Laugh-Off tournament. Vegas has approved that seeding.)

Jeff Pollard Image

Prior to joining Forrester, Jeff served as a global architect at Verizon, Dell SecureWorks, and Mandiant, working with the world's largest organizations in financial services, telecommunications, media, and defense. In those roles he helped clients fuse managed security and professional services engagements in security monitoring, security management, red teams, penetration testing, OSINT, forensics, and application security.

 

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Microsoft And Lowe's Announce Augmented Reality Is Coming To Stores

Nigel Fenwick

If you're one of my regular readers, you may remember a post from August 2015 – "The Future Of Retail Is Digital" – in which I highlight key findings from a report on the future of retail experience. One recommendation was that retailers should begin to experiment with augmented and virtual reality technology early, so that potential use cases can be piloted in-store. Well this week, Microsoft announced a partnership with Lowe's to demonstrate the viability of Microsoft's Hololens to help Lowe's customers visualize custom kitchens.

While VR/AR is a long way from widespread market adoption (see this March 16 post by J.P. Gownder), the time needed to pilot and experiment with this technology means tech and CX teams in retailers need to be piloting use cases now in order to figure out what, if any, business impact the technology will have. (See also my comments from CES 2016).

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The Forrester Wave Master Data Management: Which MDM Tool Is Right For You?

Michele Goetz

The Forrester Wave for Master Data Management went live today. The results may surprise you.  

MDM tools today don't look like your father's MDM. No longer an integration hub between applications and DBMSs, today's tools are transitioning or have reinvented MDM to handle the context missing from system traditional implementations. Visualizations, graph repositories, big data and cloud scale, along with application like interfaces for nontechnical users, mean MDM and master data gets personal with stakeholders.  

Semantics and insight are not an outcome of MDM but an integrated part of the engine and hub. Three MDM evolutions stand out:

  • Business-defined views of data: For graph-based vendors such as Reltio and Pitney Bowes, master domains are shaped by business use cases. For example, customer master can be defined beyond the bounds of a household, identity, and account. Customer behavioral characteristics can be the starting points for taxonomies and hierarchies. Integration of master domains is based on physical, logical, linkage, and semantic schemas for a more seamless navigation and querying of master data to align with the explosion of data views created by analytics, applications, and microservices.
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Reality Check: Virtual Reality Isn’t A Real Market. Yet.

JP Gownder

You’re probably hearing a lot of endless, excessive and short-term virtual reality (VR) hype. For example, at SXSW 2016, a great deal of time and energy is being devoted to VR experiments, new media announcements, and demonstrations. 

The reality? The vast majority of consumers aren’t there yet, don’t know or care about VR, and won’t know or care in 2016 unless they are hardcore gamers. And only a few forward-looking enterprises – digital predators – are experimenting with VR in effective ways today.

At Forrester, we believe that VR will find its place in the pantheon of important computing platforms, eventually reshaping the way workers work, enterprises interact with customers, and consumers perform a variety of tasks. In other words, it's going to be a real market... at some point.

Too many clients think that VR is a platform that they simply must address in 2016. We think that’s premature. Even in the era of hyperadoption, VR must overcome key obstacles to gain mass market status:

  • Need for market education. Most consumers don’t have a deep understanding of VR, nor is there an easy venue for them to learn about it. Retailing represents a challenge: Buyers must experiment with a headset for many minutes to even get sense of what the technology does. In past technology revolutions (smartphones, tablets), the Apple Store played this role… but Apple isn’t in the VR game (yet).
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Observations From Mobile World Congress From A B2B Perspective

Dan Bieler

Photo: Bergman

This year’s big technology themes at Mobile World Congress (MWC) can be summarized as big data, Internet of Things (IoT), 5G, and virtual/augmented reality (VR/AR). These themes will be important for B2B players and especially for revolutionizing customer experiences, optimizing industrial and operational processes, and boosting service enhancements. My recently published report, “Brief: Observations From Mobile World Congress That Will Shape Your B2B Digital Transformation,” summarizes our observations from MWC 2016 and the key takeaways for developing B2B digital transformation strategies. We observed that:

  • The main MWC themes are increasingly intertwined. VR and AR will enhance user experiences on mobile devices and expand mobile moments. Big data will provide context-based, and more relevant, insights and use cases — including for VR and AR solutions.
  • Mobile data is driving digital customer experience. Enterprise apps are increasingly integrated with business processes. In turn, enterprise apps help generate data-derived insights from mobile objects and devices. This will help transcend app silos to generate a single view of the customer who benefits from a better end-to-end user experience.
  • Bigger is not necessarily better. MWC feels near its zenith in terms of visitor numbers and industry impact. In 2016, nearly 101,000 attendees from 204 countries made it to MWC — more than ever. Yet, for business users MWC still falls short of translating mobility into tangible business benefits for digital transformation.
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kCura Puts the CAAT Into The Bag . . . Acquires Long-time Partner Content Analyst Company

Cheryl McKinnon

We've seen another acquisition in the shifting eDiscovery market this week as kCura, the developer of Relativity, announced its acquisition of Content Analyst Company, the brains behind the CAAT analytics engine (kCura’s press release is here). The acquisition is not entirely surprising. kCura has been relying on the CAAT engine to power its analytics offering for eight years. According to kCura, use of its Relativity Analytics offering “has grown by nearly 1,500 percent” since 2011, with more than 70% of current kCura’s customers with licenses.

What does this acquisition mean for kCura, its customers, and Content Analyst Company customers?

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The Top 6 Questions To Succeed At Artificial Intelligence

Michele Goetz

You can't turn anywhere without bumping into artificial intelligence, machine learning, or cognitive computing jumping out at you. Our cars brake for us, park for us, and some are even driving us. Our movie lists are filled with Ex Machina, Her, and Lucy. The news tells about the latest vendor and cool use of technology, minute by minute. Vendors are filling our voicemail and email with enticements. It's all so very cool!  

But cool doesn't build a business. Results do.

Which brings me to the biggest barrier companies have in adopting artificial intelligence. Companies are asking the wrong questions:

  • What is artificial intelligence (or insert: machine learning or cognitive computing)?
  • Where can I use artificial intelligence?
  • What tool can I buy?
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