The Data Digest: Turn Data Monotony Into Data Mastery

Anjali Lai

Next time you find yourself wading through data points, sifting out patterns from the noise, hoping to catch the rare pearl of insight to affix to your business plan, know that you are not alone. Employees worldwide incessantly engage with data, and the companies they work for urgently execute on data-driven strategies in a race for better, faster results. Data pervades the workplace and continues to grow in terms of volume and variety: Research suggests that by 2020, the number of connected devices will more than triple, tens of thousands of data scientist jobs will be in high demand, and the majority of sales decisions will be data-driven.

But using data regularly doesn’t mean that employees truly understand it – or are comfortable with data practices. Specific obstacles prevent individuals – at the top and bottom of the organization – from eliciting effective insight. Forrester’s Business Technographics® and ConsumerVoices MROC data shows that while individuals rely heavily on data for decision-making, they still grapple with key challenges regarding the accuracy, volume, value, and security of the data they use:

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Data Digest: Social Apps Buzz During Super Bowl 50 Game Day

Nicole Dvorak

By: Nicole Dvorak and Kristopher Arcand

On February 7, 2016 112 million viewers tuned in to watch the Denver Broncos beat the Carolina Panthers, the 3rd largest in TV history according to Nielsen data.

To help companies understands consumers’ mobile behaviors on the big day Forrester used its Technographics 360 approach, which combines multiple data sources*.

Our behavioral data indicates that people don’t drastically change their mobile behaviors for the game. However, Twitter’s app attracted a 23% larger audience than the Sunday before. But increased usage isn’t everything: Even though it’s audience size grew by just 1% from the previous weekend, Facebook’s broad reach accounted for 1 in four smartphone owners using the Facebook app during Super Bowl 50 game time hours. Instagram - also popular during Super Bowl game time despite seeing a smaller audience from the previous week - reached 5% of smartphone owners (most of whom were 18 and 24 years old).

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The Data Digest: Finance Gets Social

Anjali Lai

There’s little doubt that we are living in a “selfie” culture. The once-mundane activities of exercising at the gym, driving to work, or simply making coffee are now social spectacles that win attention and, in some cases, profit. This impulse to share daily tasks begs us to rethink the meaning of “personal” – and now consumers have even begun to expose sensitive information like their financial behaviors.

Today's channels that bridge social connections are increasingly playing into consumers’ personal financial management tactics. Forrester’s Consumer Technographics® survey data shows that the number of US online adults logging into their financial accounts through social media has more than tripled in the past two years. In fact, more consumers are turning to both social channels and their cameras to forge closer interactions with financial services providers overall:

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The Data Digest: Is Love In The Air For Your Brand?

Anjali Lai

Valentine’s Day is just around the corner, but for marketing and insights professionals, the love between a customer and a brand should be present all year round. Today, building loyal customer relationships is increasingly challenging; it requires effort, patience, and empathy. “Love at first sight” may be a fairytale and few consumers commit to a brand until death do them part, but those companies that forge deeply emotional bonds and align with consumer values gain a competitive edge.

Therefore, professionals striving to foster customer love must understand consumers holistically by answering questions like “What are consumers naturally most passionate about?” “Where are consumers engaging when not with my brand?” and “How do current lifestyles create opportunities to connect with new customers?”

My latest report, which blends Forrester’s Consumer Technographics® survey, behavioral, qualitative, and social listening data, reveals that US consumers who prioritize their health have a distinct attitude that sparks broader lifestyle choices. “Health-conscious” is not just a descriptor; it is also a driver, as consumer commitment to health stems from a deep need for self-improvement. 

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Data Digest: Just A Handful Of Apps Account For Nearly All App Time On Smartphones

Nicole Dvorak

Today, consumers spend most of their time on smartphones using apps - and just five apps account for 88% of the time they spend using downloaded apps. For the average US smartphone owner, those apps are Facebook, YouTube, Instagram, Gmail, and FB Messenger. And although smartphone owners use about 24 unique apps in a given month, the remaining 19 command just a small slice of users' time.

Nicole Dvorak is a data scientist serving all roles. Follow her on Twitter at @NicoleLDvorak.

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The Online Retail Market In India Will Reach $75 Billion By 2020

Satish Meena

The retail market in India is going through a very interesting phase. Online retailers are flush with funds and spending aggressively on acquiring customers and building infrastructure, while organized retailers are trying to come out of their “wait and see” mode before online sales start hurting them in categories other than music, books, and mobile phones. The Indian online retail market is the fastest-growing market in Asia Pacific, although it is still very small compared to China and Japan. According to the recently published Forrester Research Online Retail Forecast, 2015 To 2020 (Asia Pacific), we expect it to grow at a CAGR of 44% from 2015 to 2020 to reach $75 billion. We also predict that:

  • The influence of the Web on retail sales will increase. Less than 2% of total retail sales in India are online, but the Web’s influence is much bigger. Customers are using the Internet to research products (even when they are shopping in physical stores); to compare prices with online retailers; to check specifications; and to read user reviews. This is making the Web a powerful medium, one that organized retailers can’t ignore. As such, we expect to see organized retailers undertaking more online activities in 2016.
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The Data Digest: What Do You Want?

Anjali Lai

Many times, what we want says more about us than what we do. This is why readers are fascinated with news from the Consumer Electronics Show, which gives us an aspirational glimpse at the technology of tomorrow. This is why Google publishes the most frequently searched “how-to questions,” which reveal what people are striving for. It’s also why emerging customer insights methodologies like social listening, which uncover visceral consumer reactions and desires, are gaining traction.

Two weeks ago, people around the world expressed their wishes for 2016 by sharing their New Year’s resolutions online. What do people want this year? Forrester’s analysis of the social conversation shows that physical and mental wellbeing dominated most of the resolutions posted across the globe. But certain geographical differences shed light on varied cultures and attitudes. For example, while US consumers also discussed social causes and career goals, UK consumers mentioned artistic pursuits and relaxation:

 

 

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The Data Digest: A Happy New Year!

Anjali Lai

The market research industry is built on a fundamental assumption: that any enterprise, product, team, or person can be better than it is today. Researchers mine insights because we are constantly seeking opportunities for greater success and are eager to illuminate the path forward. But researchers aren’t the only ones doing this; although it’s our profession, people around the world share this drive for improvement. These sentiments are at their peak today on New Year’s Eve as we reflect on the highs and lows of the year behind us and resolve to do something better in the year ahead.

Seeking improvement is part of human nature, but in some cases, it’s demanded of us. In the business world, companies that set higher standards also set new consumer expectations and secure customer loyalty. For instance, our Consumer Technographics® data shows that Amazon offers one of the most loved customer experiences across the globe because it provides an unparalleled sense of emotional satisfaction: 

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The Data Digest: May The Force Be With You

Reineke Reitsma

Unless you’ve been hiding under a rock, you’re probably aware that there was a new release in the Star Wars saga this week. I’m not a fan of science fiction and have somehow managed never to have seen a Star Wars movie in my life — so all of the discussion about what will happen to Luke, Leia, or the Jedi in ‘The Force Awakens’ is completely lost on me. But what I do find extremely interesting is the huge passion of my colleagues and friends to see this movie in a cinema — and as quickly as possible. In the US, Star Wars opens in 4,100 theaters and the movie is a leader in advance ticket sales around the world. And Star Wars is just one of the big blockbusters of 2015 — in fact, analysts expect this year to be Hollywood's biggest box-office year ever.

When we look at our North American Consumer Technographics data, we see that movies certainly have a place in US online consumers’ video behaviors; watching movies in theaters is just behind watching free and paid online video services like Netflix and Hulu.

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The Data Digest: Television Without The TV Set

Anjali Lai

A week ago, my family crowded around our living-room TV to watch the Macy’s Thanksgiving Day parade, and I couldn’t help thinking about the ironic clash between tradition and innovation: On the one hand, we mirrored that classic tableau of the family gathered around a single source of entertainment; on the other, our smart TV offered a distinctly modern viewing experience.

This fine balance between tradition and innovation is widespread — especially in regards to the evolution of TV media. Our Consumer Technographics® data shows that US consumers’ love for TV is unwavering, but the ways in which viewers access content are rapidly changing. Streaming services like Netflix and Amazon Prime have been catalysts for this change; now Comcast’s recently launched Stream TV opens a new avenue for TV consumption that lives somewhere between cable and Internet properties. With Stream TV, Comcast is targeting a growing group of TV lovers who don’t actually have a TV:

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