Forrester’s Security & Risk Analyst Spotlight – Martin Whitworth

Stephanie Balaouras
Once a month, my co-research director and partner in crime, Chris McClean, and I will use our blog to highlight one of the 26 people who collaborate to deliver our team’s research and services and always make Chris and I look really, really good. Each “Analyst Spotlight” includes an informational podcast and an offbeat interview with the analyst. This month’s Analyst Spotlight features our newest analyst, Martin Whitworth. Based in London and bringing experience as a CISO and Head of Security across several industries, Martin will cover the most pressing issues keeping CISOs reaching for another bourbon on the rocks, including security strategy, maturity, skills and staffing, business alignment, and everyone’s favorite pastime, reporting to the board. 
 
Martin Whitworth Image Prior to joining Forrester, Martin served as CISO and senior security leader for a number of blue chip organizations, including Coventry Building Society, Steria Group, UK Payments Council, British Energy/EDF Nuclear Generation, and GMAC. In these roles, he developed and executed a variety of security strategies and programs, and he has extensive experience successfully engaging business and board-level stakeholders. He also has considerable experience as a trusted advisor to security leader peers in the public and private sectors internationally, as well as advising standards and regulatory bodies.
 
Read more

Huawei Defends Its Pole Position In The Race Of Network Solutions Providers In Europe

Dan Bieler

Several Forrester analysts attended Huawei’s 12th global analyst summit in Shenzhen recently. This post will focus on the perspective of European CIOs; in our view, they should take note of Huawei due to the firm’s growing strength in the European enterprise segment. For Forrester’s global perspective on the event, please refer to our upcoming report. For European CIOs, the main takeaways of the analyst summit are that Huawei is:

  • Strengthening its financial performance. Huawei’s enterprise divisions — which the firm just announced in 2011 — impresses with its strong growth rates. Huawei grew its enterprise activities by 27% to $3.1 billion in 2014; two-thirds of that growth came from outside China, with Europe accounting for the largest share of that. Huawei’s goal is to grow its enterprise business to $10 billion by 2019. Outside of China — which still accounts for 38% of Huawei’s revenues — EMEA will continue to play a critical role for Huawei, as it accounts for 35% of revenues. In EMEA, Huawei reported revenue growth of 20%.
Read more

Do You Have An Effective Privacy Organization?

Heidi Shey

A guest post from researcher Enza Iannopollo.

Upcoming changes to privacy regulation in the EU as well as rising business awareness that effective data privacy means competitive differentiation in the market makes privacy a business priority today. And this is not only relevant for tech giants: protecting both customer and employee privacy is a business priority for companies of all sizes and across industries.

But where do you start? Many companies start by hiring a chief privacy officer. Some have built brand-new privacy teams that manage privacy for the whole firm, while others prefer a decentralized model where responsibilities are shared across teams. What are the pros and cons of each approach? Which organizational structure would better meet the needs of your firm?

And when your privacy organization is in place, how do you establish smooth collaboration with other teams like marketing and digital, for example? Too often we hear that privacy teams do not have the visibility that they need into the data-driven initiatives happening within the company. When this happens, privacy organizations are less effective and the business risks failing its customers, undermining their expectation for privacy.

Read more

Expand Your Big Data Capabilities With Unstructured Text Analytics

Boris Evelson
Beware of insights! Real danger lurks behind the promise of big data to bring more data to more people faster, better, and cheaper: Insights are only as good as how people interpret the information presented to them. When looking at a stock chart, you can't even answer the simplest question — "Is the latest stock price move good or bad for my portfolio?" — without understanding the context: where you are in your investment journey and whether you're looking to buy or sell. While structured data can provide some context — like checkboxes indicating your income range, investment experience, investment objectives, and risk tolerance levels — unstructured data sources contain several orders of magnitude more context. An email exchange with a financial advisor indicating your experience with a particular investment vehicle, news articles about the market segment heavily represented in your portfolio, and social media posts about companies in which you've invested or plan to invest can all generate much broader and deeper context to better inform your decision to buy or sell. 
 
But defining the context by finding structures, patterns, and meaning in unstructured data is not a simple process. As a result, firms face a gap between data and insights; while they are awash in an abundance of customer and marketing data, they struggle to convert this data into the insights needed to win, serve, and retain customers. In general, Forrester has found that: 
 
  • The problem is not a lack of data. Most companies have access to plenty of customer feedback surveys, contact center records, mobile tracking data, loyalty program activities, and social media feeds — but, alas, it's not easily available to business leaders to help them make decisions. 
Read more

Predicting A New Business Paradigm For Financial Services

Nigel Fenwick
How will digital disrupt the financial services industry over the next 10 years?
 
Over the past couple of days, I’ve been meeting with clients at Forrester’s Forum For Technology Leaders in Orlando. Clients mostly want to know how digital will impact their business. My approach in responding to this question is to think like the CEO of the company in question: First, understand the customer’s desires; then figure out how those desires can best be met profitably — I imagine how future technology changes might create new sources of customer value.
 
We’ve already seen massive change in the financial services sector: Technology is dramatically changing our customer experience and helping firms educate their customers. What more is yet to come? And what will companies need to do to win customers in the future?
 
While this is a complex question, it’s not hard to imagine a very different reality to the one that exists today:
 
Read more

What A Teenaged Driver Can Teach You About Access Governance

Merritt Maxim

Most parents cheerfully mark the key milestones in their child’s path to adulthood: first step,first word, first school, first sleepover, first broken bone, and so on. But for many parents, no milestone causes as much anxiety as “first-time driver,” which is bestowed on all USA-based teenagers upon their16th birthday.

While surviving the experience of having our child become a driver may seem far removed from the world of access governance and entitlement certification, I found some parallels between managing a teenaged driver and managing the access rights and IT privileges of the end users in your organization. You can read more about it in my latest report, “Wake-Up Call: Poorly Managed Access Rights Are A Breach Waiting To Happen,” but here is a quick preview.

A common problem facing parents of teenaged drivers and IT organizations is that they have properly authorized users but often lack visibility into actual usage of those access rights. In the case of the teenaged drivers, parents often seek data around vehicle usage (Where did it go? At what time and at what speed?). For IT security professionals, organizations can no longer rely purely on static lists of authorized users and their access rights. So, just the way parents can impose mileage restrictions (reading the odometer to limit the distance a car can go in a given night) or fuel restrictions, an IT security team cansupplement access governance processes with additional usage data such as:

1.       Has the employee accessed the application/system during the last certification period?

2.       How often did the employee use the given entitlement?

Read more

Digital Insights Are the New Currency of Business

Ted Schadler

All the big data technology in the world won't close the gaps between data and action. One global bank told us, "even with all the capabilities and tools in place, we are drowning in data and starving for insight."

To harness the power of all your data to attract and serve customers -- to be a digital business -- you also need a new way of consistently harnessing insights that matter: insights teams using an insights-to-execution process anchored by a new digital insights architecture. We call this combination of people, process, and technology "systems of insight" (see Figure 1).

Brian Hopkins and I just released a Forrester report called "Digital Insights Are the New Currency of Business" for CIOs. I've never worked harder or longer on a 16-page document: one year, 75 drafts, and help from 25 colleagues spanning business, marketing, data, and technology.

What we found is that successful firms go beyond big data and business intelligence practices to build the business discipline and technology to harness insights and consistently turn data into action. This approach works by linking business actions back to data and discovering and testing insights to take action (see Figure 2).
 
Systems of insight embody five essential advances over previous approaches:
 
Read more

Is Your Dream Digital Experience Services Partner Out There?

Anjali Yakkundi

Today, it is vital for companies to understand and connect to every moment of the digital customer journey. But for most organizations, there are so many delivery challenges that they can’t do it alone:  84% of companies we surveyed use agencies and/or system integrator partners to help deliver digital customer experiences.

Choosing the right services firm takes some match-making magic: the partnership can either end up as a happy marriage or end in bitter divorce. In order to help Forrester clients, we recently released our report, Market Overview: Digital Experience Services Providers 2015, in order to provide an overview of nearly 50 services vendors with significant digital experience delivery practices. These are all vendors that have experience helping firms strategize, design, implement, and optimize customer-facing web and mobile experiences. Over the course of this research we discovered:
 

  • Despite similar messaging, services vendors come from distinctive DNAs.  Thousands of services providers have popped up, hoping to help firms solve these digital experience delivery challenges. But despite similar vendor promises that they  can “solve it all” we found that firms come from a variety of different DNAs (e.g. technical services, global agencies, specialist agencies, consultancies) that reveal which types of initiatives they are best –fit to help solve. For example, technical services firms are often better suited for initiatives with heavy integration needs and large, complex global implementations.
Read more

Systems Of Insight Will Power Digital Business

Brian  Hopkins

In digital business analytics, only delivering insight at the point of action matters. Did your customer get the right information, in context, at her moment of need? Did your firm use that engagement to make the right offer and up sell? Do your sales or call center reps have the insight they need to set priorities or meet customers needs efficiently? Talk of big data, advanced analytics, and agile BI is all about turning data into insight. But that is only part of the solution. How is your firm systematically testing insights and finding those that matter? How are you embedding insights in the software that your customers and employees use to engage? Are you even thinking about how to tap all the data that results from that engagement to find out what worked and what didn’t?

If you are not addressing all of these holistically, then Hadoop and that shiny new predictive analytics or streaming tool that sit on it are going to leave your business wanting. Don’t get caught in the trap.

My colleague Ted Schadler and I spent a year researching what it really takes to be successful; we found many companies drowning in data and starving for insight that made a difference. But a few leaders were working at the beginnings of closed loop systems to: 1) discover the insights that matter most; 2) embed them into the software their customers and employees use to engage; and 3) continuously measure and learn from the results.

We call these “systems of insight” and believe they will be the engines that power the digital business of the future.

Read more

Digital Ecosystems Alter Value Creation And Process Landscapes

Dan Bieler

CIOs will be orchestrators of digital ecosystems to boost innovation, production, and go-to-market capabilities. In the age of the customer, every business needs to put the customer at the center of marketing, sales, service, and delivery in order to support the brand promise.

Business ecosystems comprise many market players, including suppliers, distributors, customers, competitors, and government agencies. People, processes, and technology are the fundamental building blocks of business ecosystems. They evolve as a form of collaboration between these market players as part of the process of developing and delivering products or services. Now business ecosystems are going digital.

The digital transformation is a huge challenge and opportunity for each individual business. Business processes are changing significantly as a result of real-time information exchange, the mobile mind shift, always connected and mobile devices, and the opportunity to collect and monitor structured and unstructured data. As a business enabler, no CIO can ignore the digital transformation. Digital ecosystem management is much more than a sourcing project: According to Capgemini, businesses with the digital maturity to build digital innovations and to drive enterprise-wide transformation are 26% more profitable than their average industry competitors on a range of measures including EBIT margin and net profit margin. The CIO must actively help the organization to deliver value in the emerging digital ecosystems.

Read more