Harness Insights To Power Multi- Touchpoint Customer ... · Base: 170 enterprise architecture...

Harness Insights To Power Multi-

Touchpoint Customer Engagement

Ted Schadler

Coauthor of The Mobile Mind Shift

@TedSchadler

© 2015 Forrester Research, Inc. Reproduction Prohibited 2 © 2016 Forrester Research, Inc. Reproduction Prohibited

What’s changed more in the

last 10 years?

Devices?

Channels?

Expectations?


Simple

Immediate

Contextual

© 2016 Forrester Research, Inc. Reproduction Prohibited 4

Empowered customers create urgency


Customers are at the center of the strategy

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In the age of the customer, we gather massive amounts of customer data

• Behavioral data

• Social data

• Mobile data

• Environmental data

• Sensor data

• Transaction data

• Customer data

• Third-party data

• Financial data

• Sales data

• Product data


All possible data All possible actions

Most firms don’t consistently turn data into action

Base: 170 enterprise architecture professionals; Source: Forrester’s Q3 2015 Global State Of Strategic Planning,

Enterprise Architecture, And PMO Online Survey

73% 29% of firms

aspire to be

data-driven.

of firms are

good at turning

data into

action.


Continuous learning

Digital insights

Link data and action through digital insights and continuous learning

All possible

data

All possible

actions

Right

data Effective

actions

Source: April 27, 2015, “Digital Insight Is The New Currency Of Business” Forrester report


The business discipline and technology

to harness insights and consistently

turn data into effective action.

We call this systems of insight


A system of insight is an operating model: people, process, & technology working together

All Data Possible

Actions Insights-to-execution

process

Insights team

Insights platform

Right

data

Effective

actions

Source: April 27, 2015, “Digital Insight Is The New Currency Of Business” Forrester report


You are used to “football-style” operations

Pregame strategy Tactical execution

Call play

Execute

Regroup

Evaluate


It’s time to change the game – it’s continuous playcalling and execution

13 © 2016 Forrester Research, Inc. Reproduction Prohibited

An insights-driven business

harnesses and applies data and

analytics at every opportunity to

differentiate its products and

customer experiences.


Source: “The Insights-Driven Business [135823]” upcoming Forrester report.

$1.2 trillion will flow into the

coffers of insights-driven

businesses in 2020.


Insights-driven businesses are faster and fleeter than you

$0

$250

$500

$750

$1,000

$1,250

2015 2016 2017 2018 2019 2020

Revenue (billions)

Public

Startup

Global GDP will grow

only 3.5% annually.

27% CAGR

40% CAGR

Sources: Forrester, Morningstar, PitchBook, The Economist Intelligence Unit


Insights-driven businesses are

Built differently and

Operate differently to

Steal your customers and

take your revenue.


89% of execs think disruption is

coming to them. You know a lot of these firms.


Insights-driven businesses embed insights in every action, process, and decision

›Build closed-loop insights processes . . .

into every facet of their business

›Marry algorithms and expertise . . .

to continuously improve outcomes

›Make insights available . . .

so every employee can act with confidence

›Tap more – and more relevant – data


Stitch Fix has embedded insights into the fabric of its business.


Algorithms learn from experts (and vice versa)


Stitch Fix is in a constant state of controlled experimentation.


Source: “Transform Customer Experiences With Systems Of Insight” Forrester report

Stitch Fix operates in a closed loop

Applications

Algorithms Dashboard

reports

Genie

YARN &

Spark

Logging

data/data bus

Batch

ELT

https://www.forrester.com/report/Transform+Customer+Experiences+With+Systems+Of+Insight/-/E-RES125542


The result?

Better customer experiences . . .

. . . and much better inventory-carrying costs

than other online fashion retailers.


Insights-driven businesses are built differently to optimize through insights

›Drive insights from the top of the organization

›Organize with business, analytics, and software

skills on the same team

›Define and measure fine-grained outcome

metrics


The business technology of a great customer experience

Systems of

engagement

touch customers

Systems

of automation

connect the

physical world

Systems of

record run

processes

Systems of

insight power

customer

experiences


An insights-driven engagement architecture

Customer data:

profile, behavior,

environmental,

preference,

transactional

Content: owned,

purchased,

customer-

generated,

borrowed

Personalization engine: rules-driven,

predictive, streaming,

algorithmic, cognitive

Devices, channels, touchpoints,

applications, syndication

Practitioner

workbench:

tools for

people

operating

your

personalized

experiences

Delivery APIs and Capture APIs

Analytics:

metrics,

insights,

dashboard


How does this apply to you?

› If you own a channel – or

two or three – you must be

insights-driven.

› Systems of insight and

engagement are

converging to help you.

› Start where you can, but

plan to expand as you

compile results.

forrester.com

Thank you

Ted Schadler

[email protected]

blogs.forrester.com/ted_schadler

@tedschadler


Becoming insights-driven

Identify

outcomes and

interim metrics

Test and

implement insights

in software.

Gather

(more) data.

Develop

insights.

Measure

results and

refine insights.

5. Run insights

experiments in software,

processes, and decisions.

2. Find metrics for every outcome.

Instrument and measure processes,

decisions, and outcomes.

4. Apply analytic and AI

methods to identify

potential insights.

3. Start with data you have,

but add new sources and

kinds of data as you learn.

6. Courageously assess—

and share—the results. Did

what you expect happen?

1. Question every process and

decision. Run experiments to

prove your hypotheses.

Experiment

and learn

continuously.


Voice of the customer

Data & analytics

Customer insights

Artificial intelligence

Web, mobile, wearables

Content & personalization

Software platforms & tools

Internet of things

Employee tools

Security & privacy

Cloud & SaaS

Systems of insight help you understand customers

Systems of engagement help you reach and serve customers

Differentiate customer experiences with systems of insight and engagement

Supporting technologies power insights and engagement

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Harness Insights To Power Multi- Touchpoint Customer ... · Base: 170 enterprise architecture...

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