Customers’ perception of a company depends on their experiences with the organization at every point of contact. Companies can try to change how customers view a brand in a number of ways, such as a new mobile app or an improved complaint-handling process. However, to really improve customer perception, every interaction at every touchpoint must answer questions, suggest new services, and deepen the relationship. Many firms fail to tap into business opportunities that their front-line employees encounter because their processes and technology are antiquated.
Enterprise architecture (EA) programs can lead the effort to address these limitations and deliver benefits to customers. British Gas, one of the winners of the 2015 Forrester/InfoWorld EA Awards, is a firm that seized its opportunity. My recent report, Enterprise Architects Transform Customer Engagement, analyzes the key practices enterprise architects at British Gas made to serve as brand ambassadors and to improve customer satisfaction levels and highlights key lessons for EA leaders. These practices include:
APIs, cloud, and big data technologies power the new engagement platform. To build an engagement platform that delivers customer insights to front-line engineers, the British Gas EA team developed a platform architecture that uses APIs and cloud and big data technologies to support a new engagement platform and the applications on top of it. The API mechanism simplifies digital connections to business applications; cloud infrastructure provides robustness and agility for business operations; big data technology arms field engineers with customer insights; and policies and multitenancy ensure flexibility and security.
I joined Forrester recently as a senior forecast analyst on the ForecastView team focusing on business technology (BT) topics. What is ForecastView you ask? It’s a Forrester product that puts the numbers around our research reports by publishing a five-year quantitative outlook. To learn how our forecasts can help you with your investment decisions, read our ForecastView overview.
Our BT forecast team takes a look at cloud, security, IoT, business intelligence, marketing ad technology, Big Data, and other hot topics in the BT space. We launched our ForecastView BT bundle in 2015. In case you missed it, our three 2015 forecasts examined eCommerce platforms, cloud security, and API management. Some highlights:
Sizing The Cloud Security Market: Companies will spend $2 billion over the next five years to protect data in the cloud. We expect the market to grow at a staggering 40%+ CAGR over the next five years.
Often considered the poster child of digital transformation, APIs are proliferating at enterprises making industry-leading investments in mobile, IoT, and big data. As these initiatives mature, CIOs, CTOs, and heads of development are coming together with business leaders to manage and secure companywide use of APIs using API management solutions.
Forrester recently released a report that sizes and projects annual spending on API management solutions. We predict US companies alone will spend nearly $3 billion on API management over the next five years. Annual spend will quadruple by the end of the decade, from $140 million in 2014 to $660 million in 2020. International sales will take the global market over the billion dollar mark.
In interviewing vendors for this piece of research, we discovered a vast and fertile landscape of participants:
Startups have taken $430 million in venture funding, and so far have realized $335 million in acquisition value. In April 2015, pure-play vendor Apigee went IPO and currently trades at a valuation north of $400 million.