Leverage The Convergence Of BI And Big Data In 2015 - Or Miss Out

Martha Bennett

Big data – the Holy Grail of business intelligence (BI)? Big data technologies certainly hold the promise of closing the gap between the data that’s available in your organization, and the ability to make that data available to those who need it, when they need it. But it’s about more than just technology: you also need the skills and processes in place to ensure that those technologies are exploited to best effect. Most importantly, application development and delivery (AD&D) professionals must make sure that their BI and big data initiatives don’t move forward on parallel tracks, resulting in yet more data silos. The real value lies in combining existing BI and analytics capabilities with new big data technologies and techniques, and this is why AD&D pros involved with BI and analytics should focus on how these new capabilities can augment and extend the existing environment. Two key areas of focus for 2015 should be:

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Forrester’s Hadoop Predictions 2015

Mike Gualtieri
Hadoop adoption and innovation is moving forward at a fast pace, playing a critical role in today's data economy. But, how fast and far will Hadoop go heading into 2015? 
 
Prediction 1: Hadooponomics makes enterprise adoption mandatory. The jury is in. Hadoop has been found not guilty of being an over-hyped open source platform. Hadoop has proven real enterprise value in any number of use cases including data lakes, traditional and advanced analytics, ETL-less ETL, active-archive, and even some transactional applications. All these use cases are powered by what Forrester calls “Hadooponomics” — its ability to linearly scale both data storage and data processing.
 
What it means: The remaining minority of dazed and confused CIOs will make Hadoop a priority for 2015.
 
Predictions 2 and 3: Forrester clients can read the full text of all 8 Hadoop Predictions.
 
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Predictions For The Data Economy In 2015

Gene Leganza
The data economy — or the system that provides for the exchange of digitized information for the purpose of creating insights and value — grew in 2014, but in 2015 we’ll see it leap forward significantly. It will grow from a phenomenon that mainstream enterprises view at arm’s length as interesting to one that they embrace as a part of business as usual. The number of business and technology leaders telling us that external data is important to their business strategy has been growing rapidly -- from one-third in 2012 to almost half in 2014.
 
Why? It’s a supply-driven phenomenon made possible by widespread digitization, mobile technology, the Internet of Things (IoT), and Hadooponomics. With countless new data sources and powerful new tools to wrest insights from their depths, organizations will scramble to use them to know their customers better and to optimize their operations beyond anything they could have done before. And while the exploding data supply will spur demand, it will also spur additional supply. Firms will be taking a hard look at their “data exhaust” and wondering if there is a market for new products and services based on their unique set of data. But in many cases, the value in the data is not that people will be willing to pay money for bulk downloads or access to raw data, but in data products that complement a firm’s existing offerings.
 
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Mobile’s Untapped Value Is In Contextual Data

Thomas Husson

As the hub of our offline and online experiences, mobile interactions are a powerful catalyst for contextual marketing. The untapped opportunity in mobile for marketers will be to get an extremely granular understanding of their customers, then anticipate their expectations, and develop unique insights to power better marketing across all channels, not just mobile.

Few Marketers Make The Most Of The New Customer Data Gold Mine

Because smartphones are the hub of our offline and online experiences, they generate valuable insights for contextual data-driven marketing. However, the majority of marketers are not yet ready to exploit the convergence between mobile and big data.

Short Term: Engage Your Customers In Real Time In Their Mobile Moments

Harnessing and extracting actionable insights from this unprecedented wealth of customer data will enable marketers to serve customers in their mobile moments on a channel where they will increasingly spend the majority of their digital time.

Long Term: Power Better Marketing Initiatives Beyond The Mobile Channel

Mobile is more than simply another digital channel. Marketing leaders should combine mobile data with other sources of customer intelligence to get a deeper understanding of customers, anticipate their expectations, and act on these insights to improve all marketing initiatives.

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It's Still Early Days For Big Data In Thailand

Gene Cao

On October 14, I attended Big Data & Business Insights 2014 in Bangkok — the first public big data event in Thailand. I spoke about how to use big data to increase customer value in the age of the customer — a topic that seemed a bit distant from the audience’s daily reality. Most of them use traditional data warehouse and business intelligence tools and are new to big data solutions like Hadoop platforms, big data visualization, and predictive solutions. Here’s what I came away with:

  • Big data is still new to Thai businesses. Most big data projects in Thailand are still at the testing stages, and these trials are taking place in university labs rather than commercial environments. Dr. Putchong Uthayopas of the Department of Computer Engineering at Kasetsart University noted that big data projects in Thailand are now moving from pilot projects to actual usage.
  • Organizations need more details of real big data solutions. Thai businesses have held off investing in big data solutions because they felt uncertainty about the outcomes of big data projects. Attendees showed a lot of interest when I talked about big data usage in traditional industries, such as John Deere’s “Farm Forward” use case, which helped farmers make better decisions on what, when, and how to plant.
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Agile, flexible, modern BI deployments often require help from the professionals

Boris Evelson

Digitally empowered customers — both businesses and consumers — wield a huge influence on enterprise strategies, policies, and customer-facing and internal processes. With mobile devices, the Internet, and all-but-unlimited access to information about products, services, prices, and deals, customers are now well informed about companies and their products, and are able to quickly find alternatives and use peer pressure to drive change. But not all organizations have readily embraced this new paradigm shift, desperately clinging to rigid policies and inflexible business processes. A common thread running through the profile of most of the companies that are not succeeding in this new day and age is an inability to manage change successfully. Business agility — reacting to fast-changing business needs — is what enables businesses to thrive amid ever-accelerating market changes and dynamics.

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Chinese Businesses Embrace Social Intelligence

Gene Cao

Chinese people are hypersocial in their lifestyle and daily work, and Forrester forecasts that 681 million of them will be using social media by 2019. Online Chinese are actively engaging with brands and companies on social media: 29 brands or companies on Sina Weibo and 32 brands or companies on WeChat on average. Chinese businesses have realized the importance of social for customer life-cycle management. While they’ve started using social to increase brand awareness — such as broadcasting on Sina Weibo — they can’t recognize potential customers in this one-way communication. They use public WeChat accounts to shorten response times to client service requests — but they can’t predict these requests in advance. To address these challenges, businesses in China are starting to use enterprise-class analytics tools for Chinese social platforms.

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Government CIOs And CMOs Unite! Governments Must Embrace The "Marketing" Function

Jennifer Belissent, Ph.D.

Here at Forrester we are busy planning our upcoming Forum For CIOs And CMOs.  With a theme of “Building A Customer-Obsessed Enterprise” the event explores the partnership between marketing and technology leaders. But what about our government clients?  The role of marketing is associated with the private sector. Companies employ marketers to identify their target markets and the opportunities for providing goods and services to them. Public-sector organizations don't typically have the luxury of  choosing their target market or their products and services. Or at least that’s what most organizations think. But even if that is the case, it doesn't mean that these organizations shouldn't get to know their "customers" and understand how best to meet their needs. While the service might be prescribed by legislation or regulation, public organizations can influence the customer experience, and the rising focus on citizen engagement mandates they do so.

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Developers Hold The Key To Your Business’ Brand

Stephen Powers

By now, you all know that in order for your company to win, it needs to be customer obsessed. But how do you support that obsession from a technical standpoint? It takes innovation, and the key to innovation is software. In the 21st century, successful brands will rise and fall based on software. Because of that, developers have never been more important than they are today, which is why we’re so excited about the theme of this year’s Forrester Forum For Application Development & Delivery Professionals Build Software That Powers Your Business. 

This Forum will help you identify brand new software opportunities and run with them. It will hit on the must-have competencies that will empower application development and delivery leaders to execute on their company’s engagement strategies. This includes accelerating development processes, creating digital experiences, reaching mobile customers, and exploiting analytics and big data. Forrester analysts will deliver forward-thinking content while industry specialists – from companies such as McDonald’s, Mastercard, and GE Capital - will provide insight into some real and revolutionary new business approaches that are relevant to you right now.

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Three Interesting Findings From Our UK Mobile Behavioral Tracking Study

Nicole Dvorak

Behavior tracking data is the new black. It is a type of big data that can help you better understand your target consumers — everything from the amount of time they spend on each social media outlet to their most popular time of day to visit shopping websites. Compared with other data sources, it allows you to capture actions at a very detailed level with precision, eliminating measurement errors by analyzing usage of what consumers do, not what they say they do.

In our recent publication, Mobile Behavioral Data: UK, we analyzed Forrester's UK Consumer Technographics® Behavioral Study, November 2013 to March 2014, and found that:

  • WhatsApp keeps UK smartphone owners engaged the longest. Forty-one percent of UK adults use the app for just over 8 hours per month (or about 2 hours per week). That is longer user engagement than for any of the other top 10 most popular apps that UK consumers use on their smartphone; this includes Facebook, the most popular app, which keeps smartphone users engaged for a little over 90 minutes per week. 
  • Young UK smartphone owners are most likely to use finance/banking apps. More than half of 18- to 24-year-old UK smartphone owners use finance/banking apps, like the Lloyds Bank app and the NatWest app. These youngsters show the highest adoption of finance/banking apps in the UK, and rates decline with age; about 40% of 25- to 44-year-olds and 34% of 45- to 54-year-olds use finance/banking apps.
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