You’re Not An Insights-Driven Business – And It Really Hurts | Forrester Blogs

You’re Not An Insights-Driven Business – And It Really Hurts

In Forrester’s new report, The Insights-Driven Business, my colleagues Ted Schadler, Brian Hopkins, and I have identified a predator: the insights-driven business. These businesses are vigorously applying insights to decisions and customer engagements at every opportunity. Their leaders have a fundamental and emotional understanding of the value of insights in driving their business today — and for developing its future. They have corporate strategies and cultures that mean that leveraging data, analytics, and insights is easy and deeply embedded in everything they do. For these firms, prioritizing and coordinating investments in data and technology is not a tortuous process of guesstimating ROIs and long procurement cycles.

So who are these predators? Well, there are obvious players like Facebook, Amazon, Google, Uber, and Netflix. But, less obviously, there are many long-standing mature enterprises across many different verticals: Alaska Airlines,The Washington Post, some European football clubs, some retailers, and others that we call out in our new report are successfully transforming into insights-driven businesses today.

Insights-Driven Predators Are Eating Your Business

By 2020, the combined annual revenue of insights-driven businesses will be $1.2 trillion, and much of this revenue will be diverted from your business. This new type of predator is able to do this by embedding and coordinating the pervasive use of data and analytics across the enterprise to provide up-to-the-second insights on their business and customers. They are quicker and nimbler than you are, and they’re able to make the right decisions in the right moment most of the time. They will run rings around you — unless you join them.

You’re Already An Insights-Driven Business, Right? Wrong!

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James McCormick’s Blog

In Forrester’s new report, The Insights-Driven Business, my colleagues Ted Schadler, Brian Hopkins, and I have identified a predator: the insights-driven business. These businesses are vigorously applying insights to decisions and customer engagements at every opportunity. Their leaders have a fundamental and emotional understanding of the value of insights in driving their business today – and for developing its future.

 

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Eric Axelrod

President & Chief Architect at DIGR
I have helped companies bring new data driven products to market, drive efficiency out of their supply chain, execute strategic plans, and drive top line and bottom line growth by enabling every business function with actionable analytics. I can transform a business which is lacking critical insight into an agile, strategic, data driven organization.

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