The tug of war between reason and emotion has fueled contentious debate since the days of Socrates. But, Socrates and subsequent thinkers didn’t anticipate the influx of data in our contemporary world. Today, our modern media saturation, infinite social connection, and sensor-laden bodies and buildings mean that we create, consult, and critique data more than ever before. How does the vast amount of information – that is now literally at our fingertips – actually influence our daily decisions, and why?
Forrester’s Consumer Technographics® survey data proves that individuals are steeped in information and are keenly aware of it. In fact, the insight shows that US online adults increasingly lean on data to make daily choices across spheres of life:
You've probably heard about the Quantified Self (QS), a movement that aims to capture, analyze, and act upon data from the human body in the interest of better health, fitter athletes, and sharper minds. Today, QS is giving way to QW -- Quantified Workforce. A variety of technologies -- devices, software, services -- can quantify the health, fitness, mental acuity, timeliness, and collaboration of workers. Many of these services are ready for prime time, but present some challenges in implementing. These challenges aren't primarily technological; they're related to privacy, workers' rights, and human resources policies. Done right, though, quantifying the workforce can drive both top- and bottom- line growth in your company's business.
I've analyzed this trend in a new report, Smart Body, Smarter Workforce. Here are just a couple of examples of how quantifying the workforce can drive better business outcomes:
Lower the company's insurance rates. In January, 2014, Forrester predicted that insurance companies would offer lower rates to individuals who donned wearables -- and we are now seeing that response. In April, 2015, John Hancock announced an opportunity for buyers of its term and life insurance policies to earn up to 15% discount on their insurance rates by wearing a Fitbit, sharing the data with the company, and meeting certain activity levels.