Since 2010, when Forrester asks about organizations’ top software priorities, the number one ranked priority has been business intelligence (BI). Continued economic uncertainty and major industry-changing dynamics like mobility and the shift to digital business put a premium on data and information. The ability to effectively extract, analyze, and interpret vast quantities of data has simply become critical to business strategy decisions. Investments in BI analytics reflect the importance being placed on these technologies.
However, the large number of analytics technologies at differing levels of maturity and adoption has, in many cases, left planners of BI confused as to which technology should be adopted and for which scenario.
As a result, my colleague, Holger Kisker, and I used Forrester’s TechRadar methodology to examine 15 key analytics technologies to identify their usage scenario, current maturity within the enterprise, future trajectory, key vendors, as well as estimated costs for implementation. The technologies analyzed included the following: reporting, dashboards, performance analytics, embedded analytics, web analytics, process analytics, predictive analytics, OLAP, advanced visualization, metadata-generated analytics, location analytics, search/discovery, streaming analytics, nonmodeled data exploration and discovery, and finally text analytics. Forrester clients can read the full report here.
The Forrester team of Asia Pacific (AP) analysts has just published its 2013 IT industry predictions. Below is a sneak peek at some key regional trends I wanted to highlight.
2013 will be a transformative year for IT adoption in AP, as multiple IT trends converge to drive industry disruptions and help spur renewed growth in IT spending. Forrester expects IT spending in AP to rebound in 2013, with regionwide growth of 4% — rising to 8% when the large but slow-growing Japan market is excluded. While India IT spending growth will remain sluggish, the 2012 economic slowdown in China will be short-lived as government stimulus policies take effect in 2013. The Australia, New Zealand, and ASEAN markets will all remain resilient, with Vietnam, Indonesia, and the Philippines leading the way in IT spending growth.
Below are some other key predictions shaping the Asia Pacific IT industry in 2013:
End user computing strategies will be limited to mobile device management (MDM). AP organizations are feeling the pressure to deliver applications and services across multiple devices, including traditional desktops/laptops, smartphones, and tablets. But lack of skills will hinder bring-your-own-technology (BYOT) policies, which will remain limited to MDM, including basic device control and security/identity management.
Every year the Center For Digital Strategies at Tuck chooses a technology topic to "provide MBA candidates and the Tuck and Darthmouth communities with insights into how changes in technology affect individuals, impact enterprises and reshape industries." This academic year the topic is "Big Data: The Information Explosion That Will Reshape Our World". I had the honor and privilege to kick off the series about big data at the Tuck School of Business at Dartmouth. I am thrilled that our future business leaders are considering how big data can help companies, communities, and government make smarter decisions and provide better customer experiences. The combination of big data and predictive analytics is already changing the world. Below is the edited video of my talk on big data predictive analytics at Tuck in Hanover, NH.
Our latest BI solution center (BISC, which in our definition is more than a BICC/BI COE) report is now live on the Forrester website. Here’s a brief summary.
Forrester firmly believes that tried and true best practices for enterprise software development and support just don’t work for business intelligence (BI). Earlier-generation BI support centers — organized along the same lines as support centers for all other enterprise software — fall short when it comes to taking BI’s peculiarities into account. These unique BI requirements include less reliance on the traditional software development life cycle (SDLC) and project planning and more emphasis on reacting to the constant change of business requirements. Forrester recommends structuring your BISC along somewhat different lines than traditional technical support organizations.
Earlier-generation BI support organizations are less than effective because they often
Put IT in charge
Continue to be mostly project-based
Focus too much on functional reporting capabilities but ignore the data
As 2010 draws to a close, what are the key trends that customer management process professionals need to pay attention to as you finalize plans for next year?
Here are the top trends that I am tracking. My full report that spotlights our latest research will be published in January.
Trend 1: The Revenue Impact Of Poor Customer Experience Is Recognized
Our models estimate that the revenue impact from a 10 percentage point improvement in a company's performance, as measured by Forrester’s Customer Experience Index Score (CxPi), could be in excess of a billion dollars. Poor performers are particularly weak in being able to orchestrate multichannel interactions.
Trend 2: Business Process Management Extends To The Front Office
By extending business process management (BPM) to the front office functions, customer service organizations will improve the consistency of service delivered, elevate agent efficiency, personalize service, and meet compliance goals — at a cost that makes sense to the business.
Trend 3: The Business Value Of Social Customer Engagement Becomes More Evident
Winners of Forrester’s annual Groundswell Award spotlight how organizations are using Social Computing to innovate, such as: community-based marketing research techniques; engaging with customers through social media; energizing brand advocates; empowering communities to support customer self-service; and collaborating with customers during the product ideation and development process.