harness insights to power multi- touchpoint customer ... · base: 170 enterprise architecture...
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Harness Insights To Power Multi-
Touchpoint Customer Engagement
Ted Schadler
Coauthor of The Mobile Mind Shift
@TedSchadler
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What’s changed more in the
last 10 years?
Devices?
Channels?
Expectations?
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Simple
Immediate
Contextual
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Empowered customers create urgency
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Customers are at the center of the strategy
DISCOVER
BUY USE
ASK
ENGAGE
EXPLORE
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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
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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.
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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
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The business discipline and technology
to harness insights and consistently
turn data into effective action.
We call this systems of insight
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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
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You are used to “football-style” operations
Pregame strategy Tactical execution
Call play
Execute
Regroup
Evaluate
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It’s time to change the game – it’s continuous playcalling and execution
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An insights-driven business
harnesses and applies data and
analytics at every opportunity to
differentiate its products and
customer experiences.
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Source: “The Insights-Driven Business [135823]” upcoming Forrester report.
$1.2 trillion will flow into the
coffers of insights-driven
businesses in 2020.
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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
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Insights-driven businesses are
Built differently and
Operate differently to
Steal your customers and
take your revenue.
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89% of execs think disruption is
coming to them. You know a lot of these firms.
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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
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Stitch Fix has embedded insights into the fabric of its business.
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Algorithms learn from experts (and vice versa)
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Stitch Fix is in a constant state of controlled experimentation.
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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
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The result?
Better customer experiences . . .
. . . and much better inventory-carrying costs
than other online fashion retailers.
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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
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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
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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
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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.
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forrester.com
Thank you
Ted Schadler
blogs.forrester.com/ted_schadler
@tedschadler
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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.
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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
DISCOVER
BUY USE
ASK
ENGAGE
EXPLORE