In this analyst perspective, Dave Menninger takes a look at data lakes. He explains the term “data lake,” describes common use cases and shares his views on some of the latest market trends. He explores the relationship between data warehouses and data lakes and share some of Ventana Research’s findings on the subject. He also provides an assessment of the risks organizations face in working with data lakes and offers recommendations for maximizing the potential of data.
In 2013, the Organization for Economic Cooperation and Development (OECD) published a report titled “Action Plan on Base Erosion and Profit Shifting” (commonly referred to as “BEPS”), which describes the challenges national governments face in enforcing taxation in an increasingly global environment with a growing share of digital commerce. Country-by-country (CbC) Reporting has developed in response to the concerns raised in the report. To date, 65 countries (including all members of the European Union but not the United States) are signatories of the multilateral competent authority agreement establishing CbC reporting.
I recently attended Oracle OpenWorld for the first time in several years. The message at this year’s event was clear: Oracle is all in on the cloud. I had heard the message, but I didn’t get the full impact until I arrived at the Moscone Center in San Francisco. All signage at the event contained the word “cloud,” and Oracle issued 18 press releases in conjunction with OpenWorld related to cloud computing. I also found out that Oracle has its own definition of “cloud.”
I have been involved in the call center and customer engagement market for more than 25 years, first as a consultant and systems integrator and for the past 11 years as an industry analyst. There have been lots of changes in that time but never as many as in the last 12 to 18 months. A simple illustration of the change is how I group vendors.
Like many other industry observers I’ve heard overblown claims for information technology for decades. However, I’ve also observed that – eventually – reality catches up with vision. Finance and accounting departments are particularly resistant to change, yet because almost no corporations use adding machines or typewriters any more, it’s clear that transformative change can happen. Nonetheless, because users of business computing systems are inundated with “it’s better than ever” promotions by vendors, journalists and industry analysts, may have grown jaded and disbelieving. In the case of ERP systems that help run many organizations, that is too bad because we are finally at the point of a fundamental change in this business-critical software category.
Topics: Social Media, Supply Chain Performance, Human Capital, Mobile Technology, Office of Finance, Operational Performance, Business Analytics, Business Collaboration, Business Intelligence, Business Performance, Cloud Computing, Financial Performance
Teradata recently held its annual Partners conference, at which gather several thousand customers and partners from around the world. This was the first Partners event since Vic Lund was appointed president and CEO in May. Year on year, Teradata’s revenues are down about 5 percent, which likely prompted some changes at the company. Over the past few years Teradata made several technology acquisitions and perhaps spread its resources too thin. At the event, Lund committed the company to a focus on customers, which was a significant part of Teradata’s success in the past. This commitment was well received by customers I spoke with at the event.
Ventana Research coined the term “enterprise spreadsheet” in 2004 to describe a variety of software applications that add a desktop spreadsheet’s user interface (usually that of Microsoft Excel) to components that address the issues that arise when desktop spreadsheets are used in repetitive, collaborative enterprise processes. Enterprise spreadsheets are designed to provide the best of both worlds in that they offer the ease of use and flexibility of desktop spreadsheets while overcoming their defects – chiefly inability to maintain data integrity, lack of referential integrity and dimensionality, absence of workflow and process controls, limited security and access controls as well as poor auditability. All of these issues can cause serious problems for business use, which I’ll discuss below.
Topics: Sales Performance, Supply Chain Performance, Office of Finance, Customer Performance, Operational Performance, Analytics, Business Analytics, Business Intelligence, Business Performance, Customer & Contact Center, Financial Performance, Information Management, Financial Performance Management (FPM)
Ventana Research has newly published its Mobile Analytics and Business Intelligence 2016 Value Index. The Value Index provides a comprehensive evaluation of vendors and their product offerings across seven categories. In performing that analysis, I realized that this software category is at a crossroads. Once an optional capability often reserved for executives, mobile analytics is becoming a requirement of business users across organizations. The blurring of lines between work and personal lives has provoked a change from single device BI to BI on multiple devices including smartphones and tablets as well as laptops and desktops. From a platform standpoint, the adoption of HTML5 is contesting the prevalence of native mobile applications.
Imagine how the third Monday in next January looks to leaders in the sales department. That’s the first day of the annual sales kickoff and the excitement level won’t get any higher. New products and services are in the works, lucrative customer contracts are up for renewal, alliance partners are in the house, and qualified opportunities are already flowing through your pipeline. The executive team is expecting big things from sales in the new year and has approved hiring additional people to address opportunities that otherwise would be neglected. But despite all this activity, the organization faces two big problems in hiring and integrating new sales staff.
Topics: Sales, Sales Performance, Human Capital, Human Capital Management, Mobile Technology, CRO, Analytics, Business Analytics, Business Collaboration, Business Performance, Financial Performance, Operational Intelligence
Vendavo is a vendor of business-to-business (B2B) price and revenue optimization software, which I have written about. A major focus of the conference sessions this year at the company’s annual user group meeting was on practical approaches to successful price optimization initiatives. While this category of software has been achieving increasing acceptance, penetration is still limited in the B2B segment, which includes, for example, industrial goods and services.
Unit4, a Netherlands-based vendor of financial management software focused mainly on midsize companies, recently acquired prevero, a German vendor of performance management and business intelligence software. The acquisition reflects a convergence of transactional and analytic business applications, which I have written about. ERP and financial management software vendors increasingly are adding analytic capabilities – especially in financial performance management (FPM) – to the core functions of transaction processing and accounting to broaden the scope of their offerings.
Since I last wrote about Upstream Works it has expanded its focus on contact center agent efficiency and effectiveness to include omnichannel customer experience. Each of its core products has undergone a number of developments. Its main product now is Upstream Works for Finesse, which it classifies as a smart agent desktop. This is a desktop application that enables users of contact center systems to access the information and systems they need to resolve interactions, as well as prompting the user with next best steps to complete the interaction efficiently and effectively. Upstream Works has a close working agreement with Cisco so the product is only available for users of the Cisco Finesse product.
It’s part of my job to cover the ecosystem of Hadoop, the open source big data technology, but sometimes it makes my head spin. If this is not your primary job, how can you possibly keep up? I hope that a discussion of what I’ve found to be most important will help those who don’t have the time and energy to devote to this wide-ranging topic.
It often seems to business-to-business (B2B) marketers as if the only people who understand them are other B2B marketers. They feel that salespeople don’t get what they do day-to-day, that friends and family don’t understand what they do for a living, and most of all that the executives to whom they report have no interest in what they do – that is, until the last day of the quarter. Then they require that B2B marketers deliver positive, lead-generating and revenue-producing results in reports that detail how their efforts supported sales in the previous 90 days. And they expect those results to be reported in a format understandable to all.
Topics: Big Data, Sales Performance, Operational Performance, Analytics, Business Analytics, Business Collaboration, Business Intelligence, Business Performance, Cloud Computing, Operational Intelligence, Hive9 Marketing Performance Management
Data virtualization is not new, but it has changed over the years. The term describes a process of combining data on the fly from multiple sources rather than copying that data into a common repository such as a data warehouse or a data lake, which I have written about. There are many reasons for an organization concerned with managing its data to consider data virtualization, most stemming from the fact that the data does not have to be copied to a new location. It could, for instance, eliminate the cost of building and maintaining a copy of one of the organization’s big data sources. Recognizing these benefits, many database and data integration companies offer data virtualization products. Denodo, one of the few independent, best-of-breed vendors in this market today, brings these capabilities to big data sources and data lakes.
In July Salesforce officially closed on its purchase of digital commerce platform provider Demandware for US$2.8 billion. Salesforce’s executives were interested in acquiring a digital commerce platform, and they claim that Demandware was routinely mentioned in their due diligence of the market. So out came Marc Benioff’s and Salesforce checkbook, and they paid. Handsomely. For that sizeable investment, Salesforce will add Demandware’s SaaS-delivered digital commerce capabilities to its Customer Success Platform, while Demandware customers will have access to the Salesforce suite of cloud-based sales, marketing, customer service and analytics tools. But savvy business and IT customers are not getting distracted by the details of this transaction or the acquisition’s market impact. Knowledgeable executives expected a significant deal like this for Salesforce, and they were already thinking ahead of laggards who are just now assessing the implications of this transaction.
Topics: Social Media, Mobile Technology, Office of Finance, Business Analytics, Business Collaboration, Business Intelligence, Business Performance, Cloud Computing, Financial Performance, Operational Intelligence, Uncategorized, Omnichannel, Commerce, Digital kDigital
Predictive analytics is a rewarding yet challenging subject. In our benchmark research on next-generation predictive analytics at least half the participants reported that predictive analytics allows them to achieve competitive advantage (57%) and create new revenue opportunities (50%). Yet even more participants said that users of predictive analytics don’t have enough skills training to produce their own analyses (79%) and don’t understand the mathematics involved (66%). (In the term “predictive analytics” I include all types of data science, not just one particular type of analysis.)
Businesses and customers are ready for a new generation of digital commerce technology, but implementing it is challenged by significant barriers in two basic categories: technology commoditization and the lack of an IT and business framework for delivering great customer experiences. Regarding the first, for some companies making large IT purchases, the way an enterprise employs CAPEX and OPEX accounting practices to categorize spending on technology may be a deal-breaker when coupled with the time and resources needed to implement and maintain a product. But these subjects are increasingly relegated to the 55-minute mark of conference calls that weigh the pros and cons of available technology. Because while few organizations make a platform purchase based solely on the cheapest price, astute IT buyers now discuss and invest in analytical, data-driven tools for sales, marketing and service, deployed across Web and mobile environments, that help produce differentiated customer experiences and strengthen personalized, real-time digital commerce offerings. That leads to the second key consideration: Improving the customer experience is the top driver for almost three-quarters (74%) of organizations participating in our next-generation customer engagement benchmark research.
Topics: Sales Performance, Social Media, Mobile Technology, Wearable Computing, Customer Performance, Business Analytics, Business Collaboration, Business Intelligence, Business Performance, Cloud Computing, Operational Intelligence, Uncategorized, Mobile Marketing Digital Commerce
One aspect of living in downtown Chicago is that there’s always something going on. But as distasteful as the subject matter of certain local events can be, some proceedings can inspire perspectives on a number of topics. One that occurs to me is how the retail industry can apply the new generation of mobile and location-based technologies not only to shape the customer experience but even rescue it from challenging situations. On Nov. 30, 2015, the Chicago Tribune reported that the Black Friday protests on the city’s Magnificent Mile cost local businesses 25 to 50 percent of their expected sales. While protestors have a constitutional right to free speech, business operators also had an opportunity and a responsibility – to proactively engage customers before, during and after the tumultuous Thanksgiving holiday weekend.
Topics: Social Media, Mobile Technology, Wearable Computing, Customer Performance, Business Analytics, Business Collaboration, Business Intelligence, Business Performance, Cloud Computing, Operational Intelligence, Uncategorized, Mobile, Marketing Location Communication
Qlik helped pioneer the visual discovery market with its QlikView product. In some respects, Qlik and its competitors also spawned the self-service trend rippling through the analytics market today. Their aim was to enable business users to perform analytics for themselves rather than building a product with the perfect set of features for IT. After establishing success with end users the company began to address more of the concerns of IT, eventually creating a robust enterprise-grade analytics platform. This approach has worked for Qlik, driving growth that led to an initial
public offering in 2010. The company now generates more than half a billion dollars in revenue annually, making it one of the largest independent analytics vendors. Of which based on their company and products was rated a Hot Vendor in our 2015 Value Index on Analytics and Business Intelligence and one of the highest ranked in usability.
Topics: Big Data, Mobile Technology, Business Analytics, Business Collaboration, Business Intelligence, Cloud Computing, Information Management, Uncategorized, Qlik, Analytics, Qlik Sense, Qlik, Business intell
NICE Systems was one of the first vendors I started to cover when I joined Ventana Research more than 11 years ago. Back then it was a pure-play vendor of workforce optimization (WFO) systems and was creating a portfolio of products by developing its own systems and acquiring niche vendors of call recording, quality management, workforce management, performance management and analytics. Over the years its portfolio has grown with new features, improved integration between the component parts, centralized administration and management capabilities, and a standard, modern user interface. The latest version of its core Workforce Optimization product was rated a Hot vendor in our 2015 WFO Value Index. It is still
undergoing development, and a new version is being marketed as Adaptive WFO as it uses analytics to become more information-driven.
The relevance of marketing to an organization depends on planning and performance measured against it. In writing about marketing management I have observed the marketing mayhem that can occur but also have noted that organizations that take marketing performance management seriously are in better position to assess their efforts in relation to goals and outcomes. I have a little experience in having been a CMO and VP Marketing in my career and know how frantic it can be to managing marketing. Taking it seriously requires more effective technology than spreadsheets and presentations; we recommend using a dedicated application that supports management of both marketing operations and processes that contribute to optimal performance.
Cloud-based computing has become widespread, particularly in line-of-business applications from vendors such as Salesforce and SuccessFactors. Our benchmark research also suggests a rise in the acceptance of cloud-based analytics. We’ve seen the emergence and growth of cloud-only analytics vendors such as Domo and GoodData as well as cloud-based delivery by nearly all the on-premises analytics vendors. Almost half (48%) of organizations in our benchmark research on data and analytics in the cloud are using cloud-based analytics today, and two-thirds said they expect to be using cloud-based analytics within 12 months. In fact, only 1 percent said they do not intend to use cloud-based analytics at some point. This popularity leads to the question of how to maximize the value of investments in cloud-based analytics. We assert that one of the most important best practices for cloud-based analytics is to empower business users with modern analytics tools they can work with without relying on IT.
Topics: Sales Performance, Supply Chain Performance, Human Capital, Business Intelligence, Business Analytics, Cloud,, Customer Performance, Operational Performance, Business Analytics, Business Intelligence, Business Performance, Cloud Computing, Financial Performance, Information Management, Uncategorized
I have been involved in the contact center industry for more than 25 years and often see organizations that are slow in keeping up with consumers’ expectations; many of them seem reluctant to change, regardless of the need to do so. For example, agents of my cell phone operator ask the same four questions at the start of a call as they did 30 years ago; my bank supports several channels of communication, but it doesn’t provide the same information on all channels; and a well-known airline couldn’t tell me where my bag was for 36 hours (it was at the airport where I departed!). My list goes on, and I am sure you have your own.
Information technology enables a data-driven management style that was not feasible until powerful, affordable computers became generally available. There’s no bright line marking when this became possible; the process is ongoing. People were using financial analytics long before ENIAC, the first general-purpose computer, appeared, but the metrics available were not especially timely, broadly applicable to day-to-day situations or comprehensive enough to inform most management decision-making. Even today, there are many areas of business management where companies continue to operate much as they have in the past. One of those is pricing.
For some people in sales and marketing who struggle to meet their quarterly targets, the blockbuster announcement that Microsoft will buy LinkedIn for US$26.2 billion may seem like a midyear holiday present: a digital business Rolodex filled with new global connections that can make the task of generating revenue dramatically easier. Problem is, sales leaders and revenue-focused marketers worth their weight already know everything there is to know about their target audience, and they’re taking action on that intelligence every day. They’re already power LinkedIn users who have optimized their personal profiles, ensured that their public-facing company information is up-to-the-minute, scrubbed buyer and influencer pages, read the latest corporate and competitive intel updates and scanned their Pulse newsfeeds, and they have done so for free before finishing their morning coffee ahead of the next meeting. Microsoft’s ownership of LinkedIn won’t cause top performers in sales and marketing to dramatically alter or change their productive and profitable habits. At least not right away.
Managing marketing performance is anything but simple. It requires establishing a unified approach to assess the outcomes of initiatives and projects and compare results with investments in marketing people and campaigns. In general, while performance management has been conducted effectively at the corporate levels, it has been a challenge for most lines of business, marketing departments included.
Topics: Sales Performance, Social Media, Marketing, Marketing Performance Management, Marketing Planning, Operational Performance Management (OPM), Customer Performance, Business Analytics, Business Intelligence, Business Performance, Uncategorized, CMO, Demand Generation
If you’re a sales or marketing executive or manager, your window of business opportunity is closing rapidly. In fact it started closing the day you began your job. Time is not on your side – and your career may well hang in the balance. I want to help you shift that balance to your advantage.
Topics: Big Data, Predictive Analytics, Sales Performance, Social Media, Mobile Technology, Business Analytics, Business Collaboration, Business Performance, Cloud Computing, Uncategorized, Sales, Marketing, Sales Performance Management, Ma
Organizations in all industries face various difficulties in managing product information. The most serious is providing complete, engaging information to consumers and customers on the internet. Newly developed products, mergers and acquisitions, changes to pricing and promotions in online commerce spur business growth, but these factors also increase the amount and complexity of product-related data and content. In addition the digital economy offers a new generation of services that are sold by subscription and packaged in various options and price points. As well, global diversification of suppliers, customers and business partners forces organizations to manage data quality and consistency in multiple locations, currencies and languages.
Topics: Big Data, Sales Performance, Supply Chain Performance, PIM, Product Information Management, Sales, Market, Customer Performance, Operational Performance, Business Analytics, Business Performance, Cloud Computing, Financial Performance, Information Management, Uncategorized, Information Optimization
I have been meaning to write about Salesforce since its Dreamforce 2015 conference. Salesforce provides a platform, tools and applications for business and IT who claims to be the ‘no software’ company which as you will read is exactly what happened on May 10th. Heck, Salesforce is making a lot of advances on its platform, its applications and even with Analytics and the Internet of Things. These changes are at the center of what at our analyst firm calls digital business innovation. Much of what it’s doing is very good, but now I am questioning whether the company’s foundation of business processes and technology platform has reached a point at which it can’t grow any further without impacting its own customers’ operations and success. That may be a harsh statement, but I think my reasoning will become clear as you read this perspective.
Topics: Big Data, Sales Performance, NA14, Customer Performance, Operational Performance, Business Analytics, Business Collaboration, Business Performance, Cloud Computing, Financial Performance, Uncategorized
It has been more than five years since James Dixon of Pentaho coined the term “data lake.” His original post suggests, “If you think of a data mart as a store of bottled water – cleansed and packaged and structured for easy consumption – the data lake is a large body of water in a more natural state.” The analogy is a simple one, but in my experience talking with many end users there is still mystery surrounding the concept. In this post I’d like to clarify what a data lake is, review the reasons an organization might consider using one and the challenges they present, and outline some developments in software tools that support data lakes.
Organizations are facing a digital transformation, as I have written, that is rapidly changing the applications and services that businesses use to operate and deliver information. This new digital generation addresses the expectations of consumers and business partners for information and service in real time. One example of it is enterprise messaging. Recently I wrote about the shift to this technology and the challenges it poses for organizations that lack sufficient skills. However, new messaging appliances and virtualized messaging can carry some of this burden. By interconnecting them, organizations can be more confident in their ability to support the range of information and applications that operate in real time, not only for people but on devices and machines.
Topics: Big Data, Sales Performance, Social Media, Supply Chain Performance, Enterprise messaging, Internet of Things, IoT, mid, Customer Performance, Operational Performance, Business Analytics, Business Collaboration, Business Performance, Cloud Computing, Customer & Contact Center, Financial Performance, Governance, Risk & Compliance (GRC), Information Management, Uncategorized
As the global economy transforms into a world of digital services that cross industries, including those that provide value-added services for physical products, managing the complications that arise from digital browsing, selection and purchasing of goods, as well as activation, billing and servicing of accounts, becomes a challenge. Organizations have to not just engage customers but provide satisfying experiences that keep them coming back. Our benchmark research on next-generation customer engagement shows that improving the customer experience is the most widespread impetus to improve engagement, for almost three-quarters (74%) of organizations. Few however have established business processes and applications that support these efforts, which today involve marketing, sales, customer service, operations and accounting departments. We also find that some of the largest suppliers of cloud computing software provide the worst experiences when it comes to billing for and changing existing subscriptions.
The learning management system (LMS) offers opportunity for organizations to progressively enhance the effectiveness of their workforce. An advanced LMS can be more than a digital version of an organization’s training programs for specific jobs or to achieve compliance with policies and regulations. It can provide dynamic yet informal learning that business units can create, deploy and sustain through their own efforts. Last year I outlined the benefits of this new generation of learning management systems.
Topics: Sales Performance, Supply Chain Performance, Human Capital, LMS, Customer Performance, Operational Performance, Business Analytics, Business Collaboration, Business Performance, Cloud Computing, Financial Performance, Uncategorized
I hope this title captures your attention; I’m trying to make a point about the chaos going on in managing and operating marketing. What marketing needs in 2016 is to manage and optimize its efforts in a more unified manner. This perspective kicks off a new series on the challenges for marketing to automate or execute tasks and manage toward maximum performance. We all know that the craft of marketing is in need of significant transformation, from the CMO throughout the entire marketing organization and all the way out to the experience of consumers and customers. But this may be a fanciful mission, as applications and technology does not really automate marketing let alone manage it. Most marketing automation products are specialized applications that are not used by marketing management, let alone front-line marketing managers; they are for specialized needs in demand generation or digital marketing that personalizes inbound and outbound interactions with contacts for the purpose of advancing dialogue and creating relationships. Marketing automation, like its cousin sales force automation, has been a placeholder category that describes only a narrow slice of marketing, and the term has been co-opted by the industry for its own purposes. Though some observers predict that CMOs will outspend CIOs and other leaders of the business in technology investments, I have debunked this ludicrous idea; even if it were true, that would not make marketing departments much more efficient in their management and operations. To counterbalance the silliness of the marketing automation dialogue, I plan to bring you a series on key areas for investment to start the conversation. Evaluating them should help Marketing demonstrate its commitment to promoting effectively its organization and its products and services. Here is an overview of the many issues in the landscape.
Topics: Big Data, Predictive Analytics, Social Media, Customer Performance, Business Analytics, Business Collaboration, Business Intelligence, Business Performance, Cloud Computing, Financial Performance, Information Applications, Operational Intelligence, Uncategorized, CMO, Information Optimization, Sales Performance Management (SPM)
For several years I have been advocating that sales organizations adapt their processes and applications to optimize both sales performance and the customer experience. For details see my research agenda for last year. However, it appears that not many sales organizations have responded to this challenge; many can barely maintain their quarterly sales forecasts and monthly pipeline, track progress toward quotas and ensure that sales commissions are processed promptly and paid accurately. A great many are still using spreadsheets for these critical activities. Yet our benchmark research finds that more than half (61%) who use them for commissions said this makes the effort more difficult. Elsewhere, I have seen B2B sales organizations continue down the old path of annoying prospects with direct cold calling and email instead of nurturing real relationships. For B2C sales, the digital age of search engine optimization (SEO) and pay-per-click (PPC) has begun to haunt prospects by inserting ads in our personal social media channels. My research suggests that these practices are not due to bad intentions but to force of habit and lack of desire, time and resources to develop a modern strategy and plan. Most are just managing the basics of their sales processes and relying on sales force automation (SFA) systems, reporting and dashboards, which will only produce more of the same, less than optimal results.
Topics: Predictive Analytics, Sales Performance, Mobile Technology, Customer Performance, Operational Performance, Business Analytics, Business Collaboration, Business Performance, Cloud Computing, Financial Performance, Uncategorized, Financial Performance Management (FPM), Sales, SFA, SPM, Sales Performance Management, Sal
At the 2015 technology analyst summit in Austin, Texas, analytics and business intelligence software vendor Qlik discussed recent market and product developments and explained its roadmap and strategy for 2016. Discussion topics included its Qlik Analytics Platform and QlikView 12.0, Qlik Sense and Qlik DataMarket, applications built on the platform but also how it is expanding its analytics experience for business.
Topics: Big Data, Mobile Technology, Business Analytics, Business Intelligence, Business Performance, Governance, Risk & Compliance (GRC), Information Management, Operational Intelligence, Uncategorized, Information Optimization
I coined the term “cryptic data” to mean information that isn’t easy to find or access by people who could make use of it. In one instance, cryptic data offers professional investors – portfolio managers and securities analysts – a source of proprietary information that can improve their ability to pick stocks and achieve superior performance relative to their benchmarks. Automation through technology now makes collecting cryptic data substantially more efficient than manual methods and thus makes accessing it practical. In particular, Web scraping tools (what I call “data drones”) can be programmed to retrieve specific information once or on an ongoing basis. Although this data is accessible to anyone, it requires insight and experience to understand how to use it for superior investment performance.
Verint is an established vendor of workforce optimization, advanced analytics and self-service products for customer experience management. Recently it announced its acquisition of Contact Solutions, whose products complement Verint’s. The acquisition adds analytics capabilities and fraud detection software, both of Verint will incorporate into its existing products. Contact Solutions also brings to the merger IVR and My:Time, two innovative products that add to Verint’s portfolio for customer self-service.
Businesses and their human resource organizations feel pressure to maximize the value of their human capital in today’s intensely competitive world. Many have made or considered investments in new applications that better exploit information to efficiently recruit, engage and retain the best talent. Advanced applications not only advance these processes but also help management assess the performance of the workforce and compensate individuals fairly so that they advance their careers and find the level of employee satisfaction in the organization. A year ago I outlined the priorities in human capital management (HCM). During the past year our research found a significant number of companies lacking a unified HCM strategy that includes processes and the applications to support it. As others advance, HR organizations that are not equipped with such skills, resources and tools risk falling behind in human capital management as it contributes to business success.
Topics: Big Data, Predictive Analytics, Governance, HCM, HR, HRMS, Workforce Management, Learning Mana, Human Capital, Mobile Technology, Wearable Computing, Customer Performance, Business Analytics, Business Collaboration, Business Performance, Cloud Computing, Financial Performance, Governance, Risk & Compliance (GRC), Information Management, Uncategorized, Financial Performance Management (FPM)
I recently attended the SAS Analyst Summit in Steamboat Springs, Colo. (Twitter Hashtag #SASSB) The event offers an occasion for the company to discuss its direction and to assess its strengths and potential weaknesses. SAS is privately held, so customers and prospects cannot subject its performance to the same level of scrutiny as public companies, and thus events like this one provide a valuable source of additional information.
Technology innovation is accelerating faster than companies can keep up with. Many feel pressure to adopt new strategies that technology makes possible and find the resources required for necessary investments. In 2015 our research and analysis revealed many organizations upgrading key business applications to operate in the cloud and some enabling access to information for employees through mobile devices. Despite these steps, we find significant levels of digital disruption impacting every line of business. In our series of research agendas for 2016 we outline the areas of technology that organizations need to understand if they hope to optimize their business processes and empower their employees to handle tasks and make decisions effectively. Every industry, line of business and IT department will need to be aware of how new technology can provide opportunities to get ahead of, or at least keep up with, their competitors and focus on achieving the most effective outcomes.
Topics: Big Data, Predictive Analytics, Sales Performance, Supply Chain Performance, Governance, Mobile Technology, Operational Performance Management (OPM), Customer Performance, Operational Performance, Analytics, Business Analytics, Business Collaboration, Business Intelligence, Business Performance, Cloud Computing, Financial Performance, Governance, Risk & Compliance (GRC), Information Applications, Information Management, Location Intelligence, Operational Intelligence, Uncategorized, Workforce Performance, Business Performance Management (BPM), Financial Performance Management (FPM), Information Optimization, Sales Performance Management (SPM)
Last week I attended Spark Summit East 2016 at the New York Hilton Midtown. It revealed several ways in which Spark technology might impact the big data market.
Using information technology to make data useful is as old as the Information Age. The difference today is that the volume and variety of available data has grown enormously. Big data gets almost all of the attention, but there’s also cryptic data. Both are difficult to harness using basic tools and require new technology to help organizations glean actionable information from the large and chaotic mass of data. “Big data” refers to extremely large data sets that may be analyzed computationally to reveal patterns, trends and associations, especially those related to human behavior and interaction. The challenges in dealing with big data include having the computational power that can scale to the processing requirements for the volumes involved; analytical tools to work with the large data sets; and governance necessary to manage the large data sets to ensure that the results of the analysis are accurate and meaningful. But that’s not all organizations have to deal with now. I’ve coined the term “cryptic data” to focus on a different, less well known sort of data challenge that many companies and individuals face.
Topics: Big Data, Data Science, Planning, Predictive Analytics, Sales Performance, Social Media, Supply Chain Performance, FP&A, Human Capital, Marketing, Office of Finance, Operational Performance Management (OPM), Budgeting, Connotate, cryptic, equity research, Finance Analytics, Kofax, Statistics, Operational Performance, Analytics, Business Analytics, Business Performance, Financial Performance, Business Performance Management (BPM), Datawatch, Financial Performance Management (FPM), Kapow, Sales Performance Management (SPM)
The imperative to transform the finance department to function in a more strategic, forward-looking and action-oriented fashion has been a consistent theme of practitioners, consultants and business journalists for two decades. In all that time, however, most finance and accounting departments have not changed much. In our benchmark research on the Office of Finance, nine out of 10 participants said that it’s important or very important for finance departments to take a strategic role in running their company. The research also shows a significant gap between this objective and how well most departments perform. A large majority (83%) said they perform the core finance functions of accounting, fiscal control, transaction management, financial reporting and internal auditing, but only 41 percent said they play an active role in their company’s management. Even fewer (25%) have implemented a high degree of automation in their core finance functions and actively promote process and analytical excellence.
Topics: Big Data, Planning, Predictive Analytics, Social Media, Governance, GRC, Human Capital, Mobile Technology, Office of Finance, Budgeting, close, Continuous Accounting, Continuous Planning, end-to-end, Tax, Tax-Datawarehouse, Analytics, Business Analytics, Business Collaboration, Business Performance, CIO, Cloud Computing, Financial Performance, In-memory, Uncategorized, CFO, CPQ, Risk, CEO, Financial Performance Management, FPM
The big data market continues to expand and enable new types of analyses, new business models and new revenues streams for organizations that implement these capabilities. Following our previous research into big data and information optimization, we’ll investigate the technology trends affecting both of these domains as part of our 2016 research agenda.
Throughout the course of our research in 2016, we’ll be exploring ways in which organizations can maximize the value of their data. Ventana Research believes that analytics is the engine and data is the fuel to power better business decisions. Several themes emerged from our benchmark research on incorporating data and analytics into organizational processes, and we will follow them in our 2016 Business Analytics Research Agenda:
Topics: Big Data, Predictive Analytics, Mobile Technology, Analytics, Business Analytics, Business Collaboration, Business Intelligence, Cloud Computing, Information Management, Operational Intelligence, Information Optimization
Some followers of Ventana Research may recall my work here several years ago. Here and elsewhere I have spent most of my career in the data and analytics markets matching user requirements with technologies to meet those needs. I’m happy to be returning to Ventana Research to resume investigating ways in which organizations can make the most of their data to improve their business processes; for a first look, please see our 2016 research agenda on Big Data and Information Optimization. I relish the opportunity to conduct primary market research in the form of Ventana’s well-known benchmark research and to help end users and vendors apply the information collected in those studies.
Topics: Big Data, Predictive Analytics, Analytics, Business Analytics, Business Intelligence, Information Management, Internet of Things, IOT, Operational Intelligence, Unicorns, Information Optimization
Aria Systems provides companies with software for managing subscription or recurring revenue business models. A recurring revenue business models includes three types of selling and billing structures: a one-time transaction plus a periodic service charge; subscription-based services involving periodic charges; or a contractual relationship that charges periodically for goods and services. Aria’s cloud-based software addresses key requirements of users in the marketing, sales, operations and accounting functions in this type of business.
Topics: SaaS, Sales, Sales Performance, Customer Engagement, Customer Experience, ERP, Marketing, NetSuite, Office of Finance, Recurring Revenue, customer life cycle, Customer Performance, Operational Performance, Business Analytics, Business Performance, Cloud Computing, Customer Service, Financial Performance, Business Performance Management (BPM), Sales Performance Management (SPM), billing software
A new company has emerged in the market for real-time analytics software. Anodot came out of stealth mode in late 2015 with $3 million in funding. It is led by three founders: CEO David Drai, whose company Cotendo was acquired by networking company Akamai Technologies in 2012; Ira Cohen, chief data scientist, who previously held that position at Hewlett-Packard; and Shay Lang, who serves as VP of R&D. Unlike most vendors in the space, the company is delivering anomaly detection and operational intelligence through software as a service (SaaS).
Topics: Big Data, Predictive Analytics, Operational Performance Management (OPM), Analytics, Business Analytics, Business Intelligence, Business Performance, Cloud Computing, Internet of Things, Operational Intelligence, Uncategorized
The steady march of technology’s ability to handle ever more complicated tasks has been a constant since the beginning of the information age in the 1950s. Initially, computers in business were used to automate simple clerical functions, but as systems have become more capable, information technology has been able to substitute for increasingly higher levels of human skill and experience. A turning point of sorts was reached in the 1990s when ERP, business intelligence and business process automation software reduced the need for middle managers. Increasingly, organizations used software to coordinate activities as well as communicate results and requirements up and down the organizational chart. Both were once the exclusive role of the middle manager. Consequently, almost every for-profit organization eliminated management layers so that today corporate structures are flatter than they once were. Technology automation also eliminated the need for administrative staff to perform routine reporting and analysis. Meanwhile, over the course of the 1990s, the cost of running the finance department measured as a percentage of sales was cut almost in half as a result of eliminating staff and because automation enabled companies to scale without adding headcount. During the last recession, companies in North America and Europe once again made deep reductions to their administrative staffs, relying on information technology to pick up the slack.
Topics: Sustainability, ERP, Governance, GRC, Human Capital, Office of Finance, audit, finance transformation, LongView, Tax, Analytics, Business Analytics, Business Performance, Financial Performance, Oracle, CFO, Risk & Compliance (GRC), Vertex, FPM, Innovation Awards, Thomson-Reuters multinational
IBM redesigned its business intelligence platform, now called IBM Cognos Analytics. Expected to be released by the end of 2015, the new version includes features to help end users model their own data without IT assistance while maintaining the centralized governance and security that the platform already has. Our benchmark research into information optimization shows that simplifying access to information is important to virtually all (97%) participating organizations, but it also finds that only one in four (25%) are satisfied with their current software for doing that. Simplification is a major theme of the IBM Cognos redesign.
Topics: Big Data, Mobile Technology, Wearable Computing, Operational Performance, Analytics, Business Analytics, Business Intelligence, Business Performance, Governance, Risk & Compliance (GRC), Information Management, Operational Intelligence, Uncategorized, Visualization, Cognos, Information Optimization, Risk & Compliance (GRC), Watson, cognos analytics
The ERP market is set to undergo a significant transformation over the next five years. At the heart of this transformation is the decade-long evolution of a set of technologies that are enabling a major shift in the design of ERP systems – the most significant change since the introduction of client/server systems in the 1990s. Some ERP software vendors increasingly are utilizing in-memory computing, mobility, in-context collaboration and user interface design to differentiate their applications from rivals and potentially accelerate replacement of existing systems (as I noted in an earlier analyst perspective). ERP vendors with software-as-a-service (SaaS) subscription offerings are investing to make their software suitable for a broader variety of users in multitenant clouds. And some vendors will be able to develop lower-cost business systems to broaden the appeal of single-tenant hosted cloud deployments for companies that cannot adapt their businesses to share with other tenants or prefer not to.
Topics: Performance Management, ERP, FP&A, Human Capital, Office of Finance, Reporting, Consolidation, Reconciliation, Analytics, Business Analytics, Business Performance, Financial Performance, Uncategorized, Financial Performance Management, FPM
Over the last four years Domo, a new brand in cloud-based data and analytics software, has worked to enable its customers to understand, collaborate and act on data to achieve business results. Led by its founder and CEO, Josh James, the company has worked to deliver software that provides both a good user experience and business value. Recently, at its 2015 customer conference Domopalooza, the company presented itself and its products to the general public. I had a chance to meet with company executives, employees and customers and view its products at this high-energy event and entertainment that I have not seen in years.
Topics: Sales Performance, Supply Chain Performance, Human Capital, Mobile Technology, Operational Performance Management (OPM), Operational Performance, Analytics, Business Analytics, Business Collaboration, Business Intelligence, Business Performance, Cloud Computing, Collaboration, Financial Performance, Governance, Risk & Compliance (GRC), Domo, Risk & Compliance (GRC), SAB Miller
Tableau Software’s annual conference, which company spokespeople reported had more than 10,000 attendees, filled the MGM Grand in Las Vegas. Various product announcements supported the company’s strategy to deliver value to analysts and users of visualization tools. Advances include new data preparation and integration features, advanced analytics and mapping. The company also announced the release of a stand-alone mobile application called Vizable . One key message management aimed to promote is that Tableau is more than just a visualization company.
Topics: Big Data, Tableau, Mobile Technology, data viz, Operational Performance, Analytics, Business Analytics, Business Intelligence, Business Performance, Governance, Risk & Compliance (GRC), Information Management, Operational Intelligence, Visualization, Information Optimization, Risk & Compliance (GRC)
Supply and demand chain planning and execution have grown in importance over the past decade as companies have recognized that software can meaningfully enhance their competitiveness and improve their financial performance. Sales and operations planning (S&OP) is an integrated business management process first developed in the 1980s aimed at achieving better alignment and synchronization between the supply chain, production and sales functions. A properly implemented S&OP process routinely reviews customer demand and supply resources and “replans” quantitatively across an agreed rolling horizon. The replanning process focuses on changes from the previously agreed sales and operations plan; while it helps the management team understand how the company achieved its current level of performance, its primary focus is on future actions and anticipated results. Adoption of S&OP has increased as software to support the process has become more powerful and affordable and as a growing list of companies demonstrated its value in producing meaningfully improved business results. Even without adopting a full-scale S&OP management approach, companies can benefit from better coordination and collaboration between their supply and demand functions. Software plays an important role here, too, in facilitating this coordination and collaboration.
Topics: Planning, SaaS, Sales, Sales Performance, Supply Chain Performance, Forecast, Human Capital, Mobile Technology, Supply Chain Planning, Operational Performance, Analytics, Business Analytics, Business Collaboration, Business Performance, Cloud Computing, Financial Performance, Sales Performance Management (SPM), Sales Planning, Supply Chain, Demand Chain, Integrated Business Planning, SCM Demand Planning, S&OP
The need for businesses to process and analyze data has grown in intensity along with the volumes of data they are amassing. Our benchmark research consistently shows that preparing data is the most widespread impediment to analytic and operational efficiency. In our recent research on data and analytics in the cloud, more than half (55%) of organizations said that preparing data for analysis is a major impediment, followed by other preparatory tasks: reviewing data for quality and consistency (48%) and waiting for data and information (28%). Organizations that want to apply analytics to make more effective decisions and take prompt actions need to find ways to shorten the work that comes before it. Conventional analytics and business intelligence tools are not designed for data preparation, but new software tools can enable business users independently or in concert with IT to perform the tasks needed.
Topics: Big Data, Sales Performance, Supply Chain Performance, Human Capital, Marketing, Monarch, Operational Performance Management (OPM), Customer Performance, Business Analytics, Business Intelligence, Business Performance, Data Preparation, Financial Performance, Governance, Risk & Compliance (GRC), Information Management, Uncategorized, Business Performance Management (BPM), Datawatch, Information Optimization, Risk & Compliance (GRC)
Having covered workforce optimization systems for more than 10 years, recently I was contacted for a briefing by dvsAnalytics. I quickly learned that the analytics mentioned in the company’s name are focused on workforce optimization. Founded in 1983, dvsAnalytics is headquartered in Scottsdale, Ariz., and has thousands of customers in various industry sectors. Its Encore suite of products includes standard workforce optimization applications for call recording, quality management, workforce management and coaching as well as post-contact surveys, live monitoring, multiple forms of analytics and a range of APIs to support integration with third-party products, especially telecommunications systems. The products have mostly been developed in-house although workforce management is provided through integration with Community Workforce Management from WorkForce Management Software Group. DvsAnalytics makes its products available on-premises, in the cloud or in a hybrid environment; unlike some vendors, it builds all three options on the same code base. Most of its sales and post-sales support are provided through a network of partners in various locations.
Topics: Customer Analytics, Customer Engagement, Customer Experience, Speech Analytics, Voice of the Customer, Customer Performance, Analytics, Business Analytics, Cloud Computing, Customer Service, Uncategorized, Call Center, Contact Center, Contact Center Analytics, Text Analytics, Workforce Force Optimization
Transera is an established vendor of contact center in the cloud systems and analytics, and as I discovered at the Salesforce Dreamforce ’15 conference and during a recent briefing, it has added support for managing voice interactions for users of salesforce.com Service Cloud. Its core product, Global Omni-Channel Contact Center, now supports voice, email, chat and Twitter, which are managed centrally through a routing engine that treats all interactions in the same way. This ensures that companies have a central view of how interactions are being handled, and they can manage the rules to guide customers to the channel most appropriate for what they are trying to achieve and route the interaction to the most qualified person. An enhanced scripting engine allows users to script the ways in which different types of interactions are handled, and a recording engine captures all calls and makes them available for analysis. Transera also has added capabilities to produce real-time analysis of contact center performance through dashboards and analytics that show a single view across all sites and data sources. Operational and business metrics can be calculated using multiple data sources, and a variety of visualization capabilities enable the analysis can be displayed in the format most appropriate for a specific user and occasion. All the systems are available in the cloud and are scalable enough to support companies of all sizes, including those with centers in multiple sites.
Topics: Big Data, Customer Engagement, Customer Experience, Speech Analytics, Customer Performance, Analytics, Business Analytics, Cloud Computing, Customer Service, Uncategorized, Call Center, Contact Center, Contact Center Analytics, CRM, Text Analytics
PentahoWorld 2015, Pentaho’s second annual user conference, held in mid-October, centered on the general availability of release 6.0 of its data integration and analytics platform and its acquisition by Hitachi Data Systems (HDS) earlier this year. Company spokespeople detailed the development of the product in relation to the roadmap laid out in 2014 and outlined plans for its integration with those of HDS and its parent Hitachi. They also discussed Pentaho’s and HDS’s shared intentions regarding the Internet of Things (IoT), particularly in telecommunications, healthcare, public infrastructure and IT analytics.
Topics: Big Data, Pentaho, Mobile Technology, Wearable Computing, Operational Performance, Analytics, Business Analytics, Business Intelligence, Business Performance, Governance, Risk & Compliance (GRC), Information Management, IOT, Operational Intelligence, Uncategorized, Information Optimization, Risk & Compliance (GRC)
Historically workforce management has been centered on tracking time and attendance, absences and leaves. Organizations view the time and attendance system as the top priority to integrate with the payroll system; in our payroll management benchmark research half (51%) of organizations called it very important. However, only one in five have integrated the two to streamline processes. So limited an administrative and operational focus does not contribute to improving worker productivity or manager efficiency. Moreover, such an approach can foster employee turnover and undermine worker satisfaction and loyalty. Our research analysis underscores that paying insufficient attention to the worker experience can degrade employees’ sense of accomplishment and in some situations also degrade the customer experience.
Topics: Human Capital, Human Capital Management, Mobile Technology, Wearable Computing, Operational Performance, Business Analytics, Business Collaboration, Business Performance, Cloud Computing, Financial Performance, HR, Risk & Compliance (GRC), Workforce Management
The emerging Internet of Things (IoT) extends digital connectivity to devices and sensors in homes, businesses, vehicles and potentially almost anywhere. This innovation enables devices designed for it to generate and transmit data about their operations; analytics using this data can facilitate monitoring and a range of automatic functions.
Topics: Big Data, Predictive Analytics, Mobile Technology, Operational Performance, Analytics, Business Analytics, Business Intelligence, Business Performance, IOT, Operational Intelligence, Uncategorized
Splunk’s annual gathering, this year called .conf 2015, in late September hosted almost 4,000 Splunk customers, partners and employees. It is one of the fastest-growing user conferences in the technology industry. The area dedicated to Splunk partners has grown from a handful of booths a few years ago to a vast showroom floor many times larger. While the conference’s main announcement was the release of Splunk Enterprise 6.3, its flagship platform, the progress the company is making in the related areas of machine learning and the Internet of Things (IoT) most caught my attention.
Topics: Big Data, Predictive Analytics, Machine Learning, IT Analytics & Performance, Operational Performance, Plunk, Analytics, Business Analytics, Business Intelligence, Business Performance, Cloud Computing, Information Management, Internet of Things, Operational Intelligence, Data, Information Optimization
I recently joined more than 1,000 users, partners, consultants and other analysts at the first global G-Force 2015 conference, held in Miami. Sponsor Genesys put together an agenda that not only educated but entertained the attendees. For an example of the latter, Sekou Andrews, a poet, actor, musician and voice-over artist, preceded the main keynotes with a wonderful sketch that put customer experience into the context of marriage and reminded us to treat customers as he does his wife, remembering that the customer is always right!
Topics: Customer Analytics, Customer Engagement, Customer Experience, Speech Analytics, Customer Performance, Analytics, Business Analytics, Cloud Computing, Customer Service, Call Center, Contact Center, Contact Center Analytics, CRM, Text Analytics
The concept and implementation of what is called big data are no longer new, and many organizations, especially larger ones, view it as a way to manage and understand the flood of data they receive. Our benchmark research on big data analytics shows that business intelligence (BI) is the most common type of system to which organizations deliver big data. However, BI systems aren’t a good fit for analyzing big data. They were built to provide interactive analysis of structured data sources using Structured Query Language (SQL). Big data includes large volumes of data that does not fit into rows and columns, such as sensor data, text data and Web log data. Such data must be transformed and modeled before it can fit into paradigms such as SQL.
Topics: Big Data, Predictive Analytics, Software as a Service, IT Analytics & Performance, Operational Performance, Analytics, Business Analytics, Business Intelligence, Business Performance, Cloud Computing, Information Management, Operational Intelligence, Data, Information Optimization
One of the key findings in our latest benchmark research into predictive analytics is that companies are incorporating predictive analytics into their operational systems more often than was the case three years ago. The research found that companies are less inclined to purchase stand-alone predictive analytics tools (29% vs 44% three years ago) and more inclined to purchase predictive analytics built into business intelligence systems (23% vs 20%), applications (12% vs 8%), databases (9% vs 7%) and middleware (9% vs 2%). This trend is not surprising since operationalizing predictive analytics – that is, building predictive analytics directly into business process workflows – improves companies’ ability to gain competitive advantage: those that deploy predictive analytics within business processes are more likely to say they gain competitive advantage and improve revenue through predictive analytics than those that don’t.
Topics: Big Data, Microsoft, Predictive Analytics, SAS, Social Media, alteryx, Customer Performance, Operational Performance, Analytics, Business Analytics, Business Intelligence, Business Performance, Operational Intelligence, Oracle, Information Optimization, SPSS, Rapidminer
I recently attended my first U.S. Dreamforce, the annual salesforce.com event designed to showcase its products and services as well as those of its partners, and I was impressed. I was told that Dreamforce ‘15 would be big, and it was – just about every hotel, restaurant, meeting room in San Francisco seemed to have been taken over for the week, and still the company had to bring in a cruise ship to accommodate people and events. I was told it would be manic, and it was – more than 100,000 attendees, and buses and cabs blocking surrounding streets. I was told it would be busy, and it was – more than 600 conference sessions. I was told it would educational, and it was – I gained many insights into new product developments, both from salesforce and several of its partners. Here are some of the key takeaways for my research practice.
Topics: Big Data, Sales Performance, Social Media, Customer Analytics, Customer Experience, Marketing, Mobile Technology, Speech Analytics, Wearable Computing, Customer Performance, Analytics, Business Analytics, Cloud Computing, Customer Service, Call Center, Contact Center, Contact Center Analytics, CRM, Text Analytics
Our benchmark research into predictive analytics shows that lack of resources, including budget and skills, is the number-one business barrier to the effective deployment and use of predictive analytics; awareness – that is, an understanding of how to apply predictive analytics to business problems – is second. In order to secure resources and address awareness problems a business case needs to be created and communicated clearly wherever appropriate across the organization. A business case presents the reasoning for initiating a project or task. A compelling business case communicates the nature of the proposed project and the arguments, both quantified and unquantifiable, for its deployment.
Topics: Big Data, Microsoft, Predictive Analytics, SAS, Social Media, alteryx, Customer Performance, Operational Performance, Analytics, Business Analytics, Business Intelligence, Operational Intelligence, Oracle, Information Optimization, SPSS, Rapidminer
ResponseTek is a software vendor whose platform and services help companies collect and act on feedback from their customers. It supports a closed-loop process that collects feedback, analyzes it, provides customizable reports and analysis dependent on the user, and most importantly enables taking action based on the information. This allows companies to understand product and service issues, customer sentiment, intentions, and likely behaviors, and where necessary ensures the most appropriate actions are taken.
Topics: Customer Analytics, Customer Experience, Customer Feedback Management, Speech Analytics, Voice of the Customer, Customer Performance, Analytics, Business Analytics, Cloud Computing, Customer Service, Call Center, Contact Center, Text Analytics
As I discussed in the state of data and analytics in the cloud recently, usability is a top evaluation criterion for organizations in selecting cloud-based analytics software. Data access of cloud and on-premises systems are essential antecedents of usability. They can help business people perform analytic tasks themselves without having to rely on IT. Some tools allow data integration by business users on an ad hoc basis, but to provide an enterprise integration process and a governed information platform, IT involvement is often necessary. Once that is done, though, using cloud-based data for analytics can help, empowering business users and improving communication and process .
Topics: Big Data, Sales Performance, Software as a Service, Mobile Technology, Customer Performance, Operational Performance, Analytics, Business Analytics, Business Collaboration, Business Intelligence, Business Mobility, Cloud Computing, Information Management, Operational Intelligence, Data
Calabrio is a vendor of workforce optimization software whose core product is Calabrio ONE. It includes the common workforce optimization applications: call recording, quality management, workforce management and analytics. The company is rated Hot in our 2015 Workforce Optimization Value Index, and its product suite is the highest rated in the Usability category. Since our assessment, each of the modules has undergone upgrades, Calabrio has introduced more cloud-based services, and its analytics has undergone extensive changes to support customer experience management. The aim of these enhancements is to provide a single view of the customer that includes customer interactions across all channels, help companies streamline processes through workflow and automation, support more users and provide more deployment options. The Calabrio ONE Cloud Edition supports the full suite in a multitenant environment and is scalable to support companies of all sizes. It also enables users to store data, such as call recordings, in cloud-based services such as Amazon Web Services. I have reviewed these enhancements and note the most significant changes.
Through a continuing program of acquisitions and internal development, NICE Systems has transitioned from being a vendor of workforce optimization systems to one focused on aspects of the customer experience, notably voice of the customer (VOC), customer engagement analytics and customer journey mapping. It is also moving to cloud-based services from products installed on customers’ premises and is taking a business-solution approach (providing previously integrated and configured products that address specific business issues) rather than general-purpose products. All of these changes are evident in its latest services, which link VOC, real-time journey mapping and predictive analytics to address common customer service and engagement issues. The foundation for these packages are products I have previously covered – Fizzback for multichannel customer surveying and feedback analysis and Causata for a big data analytics platform that includes predictive analytics capabilities – along with its own customer engagement analytics platform, which can link customer data from disparate sources. The result, for example, is that journey maps can show all interactions on all channels a customer uses to try to resolve issues, including the customer sentiment at each touch point and the outcome of the journey.
From its history of managing postal mail, Pitney Bowes has expanded into products for data management, analytics and location intelligence, as my colleague Mark Smith noted. Continuing this expansion through internal development and acquisitions of vendors such as Portrait Software and RTC, it has added to its portfolio products that include customer information management and customer engagement.
Our recently completed benchmark research on data and analytics in the cloud shows that analytics deployed in cloud-based systems is gaining widespread adoption. Almost half (48%) of participating organizations are using cloud-based analytics, another 19 percent said they plan to begin using it within 12 months, and 31 percent said they will begin to use cloud-based analytics but do not know when. Participants in various areas of the organization said they use cloud-based analytics, but front-office functions such as marketing and sales rated it important more often than did finance, accounting and human resources. This front-office focus is underscored by the finding that the categories of information for which cloud-based analytics is most often deemed important are forecasting (mentioned by 51%) and customer-related (47%) and sales-related (33%) information.
Topics: Big Data, Software as a Service, Operational Performance Management (OPM), Analytics, Business Analytics, Business Collaboration, Business Intelligence, Customer & Contact Center, Operational Intelligence, Business Performance Management (BPM), Data, Information Optimization
Tagetik is a long-established vendor of financial performance management (FPM) software. Its full-featured suite includes planning, budgeting, consolidation, close management, disclosure management, analysis, dashboards and reporting. The software can be deployed on premises or in the cloud as multitenant software as a service or in a private cloud. Tagetik also offers pre-built integration with SAP and SAP HANA, Microsoft SharePoint and Qlik to best support a range of financial management needs.
Optimization is the application of algorithms to sets of data to guide executives and managers in making the best decisions. It’s a trending topic because using optimization technologies and techniques to better manage a variety of day-to-day business issues is becoming easier. I expect optimization, once the preserve of data scientists and operations research specialists will become mainstream in general purpose business analytics over the next five years.
Topics: Big Data, Performance Management, Customer Performance, Operational Performance, Analytics, Business Analytics, Business Performance, Financial Performance, Information Management, Price Optimization
Our research into next-generation predictive analytics shows that along with not having enough skilled resources, which I discussed in my previous analysis, the inability to readily access and integrate data is a primary reason for dissatisfaction with predictive analytics (in 62% of participating organizations). Furthermore, this area consumes the most time in the predictive analytics process: The research finds that preparing data for analysis (40%) and accessing data (22%) are the parts of the predictive analysis process that create the most challenges for organizations. To allow more time for actual analysis, organizations must work to improve their data-related processes.
Topics: Big Data, Microsoft, Predictive Analytics, alteryx, Customer Performance, Operational Performance, Analytics, Business Analytics, Business Intelligence, Business Performance, Operational Intelligence, Oracle, Information Optimization
Recently my colleague Tony Cosentino wrote an analyst perspective asserting that big data analytics will displace net promoter score (NPS) for more effectively measuring the entire customer experience. This prompted a response from Maxie Schmidt-Subramanian, asserting that big data and NPS aren’t the only ways to measure customer experience success. The main point of Tony’s piece, as I interpret it, is that NPS is just a number, but big data analytics can reveal much more about customer behavior and intentions, and it can link these to business outcomes. On the other hand Maxie argues that whether or not companies use NPS, when it comes to measuring the customer experience, they rely too much on surveys and no one metric does the entire job. While to a large extent I agree with both arguments, from a business perspective I don’t think either addresses three very important questions. The first is what actually is the customer experience? Second, how should it be measured? And third, what is the best use of big data in relation to customer experience?
The Performance Index analysis we performed as part of our next-generation predictive analytics benchmark research shows that only one in four organizations, those functioning at the highest Innovative level of performance, can use predictive analytics to compete effectively against others that use this technology less well. We analyze performance in detail in four dimensions (People, Process, Information and Technology), and for predictive analytics we find that organizations perform best in the Technology dimension, with 38 percent reaching the top Innovative level. This is often the case in our analyses, as organizations initially perform better in the details of selecting and managing new tools than in the other dimensions. Predictive analytics is not a new technology per se, but the difference is that it is becoming more common in business units, as I have written.
Topics: Big Data, Microsoft, Predictive Analytics, alteryx, Operational Performance Management (OPM), Customer Performance, Analytics, Business Analytics, Business Intelligence, Business Performance, Location Intelligence, Oracle, Information Optimization
To impact business success, Ventana Research recommends viewing predictive analytics as a business investment rather than an IT investment. Our recent benchmark research into next-generation predictive analytics reveals that since our previous research on the topic in 2012, funding has shifted from general business budgets (previously 44%) to line of business IT budgets (previously 19%). Now more than half of organizations fund such projects from business budgets: 29 percent from general business budgets and 27 percent from a line of business IT budget. This shift in buying reflects the mainstreaming of predictive analytics in organizations, which I recently wrote about .
Topics: Big Data, Microsoft, Predictive Analytics, alteryx, Customer Performance, Analytics, Business Analytics, Business Intelligence, Operational Intelligence, Oracle, Business Performance Management (BPM), Rapidminer
Our recently released benchmark research into next-generation predictive analytics shows that in this increasingly important area many organizations are moving forward in the dimensions of information and technology, but most are challenged to find people with the right skills and to align organizational processes to derive business value from predictive analytics.
Our benchmark research on next-generation business planning finds that a large majority of companies rely on spreadsheets to manage planning processes. For example, four out of five use them for supply chain planning, and about two-thirds for budgeting and sales forecasting. Spreadsheets are the default choice for modeling and planning because they are flexible. They adapt to the needs of different parts of any type of business. Unfortunately, they have inherent defects that make them problematic when used in collaborative, repetitive enterprise processes such as planning and budgeting. While it’s easy to create a model, it can quickly become a barrier to more integrated planning across the business units in an enterprise. As I’ve noted before, software vendors and IT departments have been trying – mainly in vain – to get users to switch from spreadsheets to a variety of dedicated applications. They’ve failed to make much of a dent because although these applications have substantial advantages over spreadsheets when used in repetitive, collaborative enterprise tasks, these advantages are mainly realized after the model, process or report is put to use in the “production” phase (to borrow an IT term).
Topics: Planning, Predictive Analytics, Marketing Planning, Reporting, Sales Forecasting, Budgeting, Customer Performance, Operational Performance, Analytics, Business Analytics, Business Collaboration, Business Performance, Financial Performance, Business Planning, Demand Planning, Integrated Business Planning
Our benchmark research into next-generation customer engagement finds that the top priorities in customer service for companies are to improve the customer experience (said 74%) and their customer service performance (70%). To do this, the technological steps most companies expect to improve customer engagement are to deploy collaboration systems, redesign the customer portal, deploy internal mobile applications, deploy mobile customer service apps and use social media for customer service. All of these we regard as potentially innovative and required digital technologies. Deeper analysis of the results finds key primary drivers for these priorities. Employees across the organization are handling customer interactions, but customers expect consistent responses no matter who they engage with. Customers are using more electronic channels of engagement, but here, too, they expect consistent responses. People on both sides are engaging more while they are on the move, so mobile support for employees and customers has become essential. Let’s consider how each of these five technologies can help companies meet these challenges and improve customer engagement.
Our benchmark research into big data analytics shows that marketing in the form of cross-selling and upselling (38%) and customer understanding (32%) are the top use cases for big data analytics. Related to these uses, organizations today spend billions of dollars on programs seeking customer loyalty and satisfaction. A powerful metric that impacts this spending is net promoter score (NPS), which attempts to connect brand promotion with revenue. NPS has proven to be a popular metric among major brands and Fortune 500 companies. Today, however, the advent of big data systems brings the value and the accuracy of NPS into question. It and similar loyalty metrics face displacement by big data analytics capabilities that can replace stated behavior and survey-based attitudinal data with actual behavioral data (sometimes called revealed behavior) combined with unstructured data sources such as social media. Revealed behavior shows what people have actually done and thus is a better predictor of what they will do in the future than what they say they have done or intend to do in the future. With interaction through various customer touch points (the omnichannel approach) it is possible to measure both attitudes and revealed behavior in a digital format and to analyze such data in an integrated fashion. Using innovative technology such as big data analytics can overcome three inherent drawbacks of NPS and similar customer loyalty and satisfaction metrics.
Unit4 is a global business software vendor focused on business and professional services, the public sector and higher education. Recently company executives met with industry analysts to provide an update of its strategic roadmap and to recap its accomplishments since being acquired by a private equity firm in 2014. Unit4 is the result of successive mergers of ERP and business software companies, notably CODA and Agresso. The company is also a part-owner (with salesforce.com and others) of independently run FinancialForce, which sells a cloud-based ERP system built on the Force.com platform.
IBM’s Vision user conference brings together customers who use its software for financial and sales performance management (FPM and SPM, respectively) as well as governance, risk management and compliance (GRC). Analytics is a technology that can enhance each of these activities. The recent conference and many of its sessions highlighted IBM’s growing emphasis on making more sophisticated analytics easier to use by – and therefore more useful to – general business users and their organizations. The shift is important because the IT industry has spent a quarter of a century trying to make enterprise reporting (that is, descriptive analytics) suitable for an average individual to use with limited training. Today the market for reporting, dashboards and performance management software is saturated and largely a commodity, so the software industry – and IBM in particular – is turning its attention to the next frontier: predictive and prescriptive analytics. Prescriptive analytics holds particular promise for IBM’s analytics portfolio.
Topics: Big Data, Planning, Predictive Analytics, Governance, Human Capital, Budgeting, Customer Performance, Operational Performance, Analytics, Business Analytics, Business Performance, Cloud Computing, Financial Performance, Visualization
In recent years I have tracked Salesforce, its product development and its announcements. Despite having grown into a giant corporation, it continues to introduce innovations. At a recent analyst day in the U.K., I followed up on the company’s overall direction, some key product developments and a new service to help drive adoption of innovative customer-related processes. Salesforce’s primary aim is to help organizations market and sell to, service, engage with and know their customers through innovative processes and cloud-based systems. To support these efforts, it has made significant updates to its marketing, service community and analytics clouds. For example, it has added Marketing Cloud Predictive Decisions to its Marketing Cloud. The new module enables marketers to apply analytics to a range of customer-related data to gain a more complete picture of their customers and from it build more personalized marketing messages and campaigns. Business users can set up their own analytics, determine next best actions and deliver marketing messages and dialogues through multiple communication channels. Predictive Decisions helps transform marketing’s approach from general one-off marketing campaigns to one-to-one, personalized dialogues through channels that individuals prefer. On another front, the company has enhanced its Service Cloud with Service Cloud Intelligence Engine. This product also runs across multiple channels. It dynamically pushes work to the right employee, based on the skill set required to handle the task and the history of the request, and at the same time it distributes and manages the workload across employees who handle customer interactions. Analytics here provides an enhanced view of customers so that dialogues concerning a case can be viewed and preserved across all channels. In other developments Community Cloud has been enhanced to expand the range of expert groups to engage, deliver customer self-service as part of a community, and do this on smart mobile devices. Analytics Cloud now can ingest larger volumes and types of customer-related data, including interaction data. It enables both business users and analysts to use a wider range of data sources to find answers to specific questions, also on mobile devices. It also includes capabilities for developers to build specific analytic apps for targeted business uses. My colleague has assessed the product in Salesforce Analytics Cloud Delivers Wave of Elegant Dashboards. All of these developments and existing capabilities have been brought together on what Salesforce calls the Customer Success Platform. It is built on the company’s cloud infrastructure, and as well as its own cloud-based apps, it includes all the partner apps available on the Salesforce app store. A “scalable metadata platform” glues everything together. It includes data and objects, a mobile user interface, collaboration tools, analytics, workflow and identity management. Enhancements enable developers to build mobile apps for both customers and employees more easily. In the pipeline are capabilities to use wearable technology to collect and display data. Salesforce’s efforts to help companies “do business in a new way” reflect challenges that many companies encounter in trying to serve customers more effectively. Our research into next-generation customer engagement shows that the three most common challenges are integrating systems (49%), managing communication challenges in a unified way and not as silos (47%) and inconsistent responses and information in customer interactions (33%). My research and customer case studies lead me to conclude that changing processes is the biggest challenge. To meet this challenge Salesforce has introduced a consulting program called Ignite. This collaborative consulting service aims to help organizations design their customer management vision and execution roadmap. It is comprised of four steps: discovery, inspiration and design, prototyping and iteration and doing it. Discovery uses joint workshops and interviews with key stakeholders to introduce the program and its objectives, gain buy-in and discover the current state. Inspiration and design is another series of joint workshops to develop ideas and envision the desired state. Prototyping and iteration uses the new ideas to develop prototypes of how the new vision can be delivered. The “do” step presents and demonstrates the prototypes to stakeholders and develops a value statement and an implementation plan so the business can decide the way forward. Overall this seems to be a fairly typical consulting service that focuses on customer engagement and associated processes, systems and metrics, but it is deliberately collaborative and tailored around Salesforce applications and tools. The main innovation I see is that it is designed to uncover new ways of working that organizations may not have considered. Business, especially around customer engagement, is changing more rapidly than ever, and it is hard for organizations to keep up with technology developments and learn how to gain maximum benefit from them. Ignite should help Salesforce customers identify how they can improve customer management and introduce new approaches to keep ahead of the competition. The Salesforce Customer Success Platform is a comprehensive package of systems that focus on customer management processes, underpinned by improved integration, analytics and collaborative capabilities. Our research consistently finds that most companies are still relatively immature in the use of people, processes, information and systems for customer management. I therefore recommend companies seeking to survive and prosper in today’s highly competitive markets assess how the Salesforce products and service can help. Regards, Richard J. Snow VP & Research Director
I recently wrote about six technologies that can help companies deliver experiences that live up to their customers’ expectations: an integrated multichannel infrastructure, analytics, a smart agent desktop, business applications such as workforce management and knowledge management, collaboration and mobile apps. They should be closely integrated to simplify system administration, to support processes that have been disconnected because they required multiple systems and to be easy to use. In my experience few vendors provide systems that meet all these goals so I was keen to learn about the latest version of the Genesys Customer Experience Platform which was the recipient of 2014 Ventana Research T Technology Innovation award for contact center in its works with IBM Watson Engagement Advisor.
NICE Systems is an established vendor of workforce optimization products that has long included analytics in its portfolio. Its latest release in this area, NICE Customer Experience Analytics, focuses on mapping, understanding and managing customer journeys and metrics. The product is built on NICE’s common technology platform, which consists of three functions: collect, understand and optimize. The Collect segment has tools to help manage customer-related data and ingest data from multiple data sources; Understand uses analytics tools to analysis the data and produce reports, dashboards and other forms of output; and Optimize uses the outputs to help users improve business tasks such as improve customer satisfaction and net performer scores, suggest next best actions and reduce customer effort.
Recently, Infor held its second innovation conference with industry analysts at its New York City headquarters. Infor’s products include the major categories of ERP, human capital management and financial performance management applications. Behind the marketing aspects of its use of “innovation” is a business strategy for retaining existing customers, migrating a sizable percentage of those customers to the cloud and gaining new customers. (Because of the relative size of the installed base, renewals and migrating customers to the cloud are likely to be more important to Infor’s future revenues than adding new customers.) I think it’s useful to assess the content of the event in the context of the company’s business strategy.
Adaptive Insights held its annual user group meeting recently. A theme sounded in several keynote sessions was the importance of finance departments playing a more strategic role in their companies. Some participating customers described how they have evolved their planning process from being designed mainly to meet the needs of the finance department into a useful tool for managing the entire business. Their path took them from doing basic financial budgeting to planning focused on improving the company’s performance. This is one of the more important ways in which finance organizations can play a more strategic role in corporate management, an objective that more finance organizations are pursuing. Half of the companies participating in our Office of Finance benchmark research said that their finance organization has undertaken initiatives to enhance its strategic value to the company within the last 18 months.
Topics: Planning, Predictive Analytics, Human Capital, Marketing, Reporting, Sales Forecasting, Budgeting, Customer Performance, Operational Performance, Analytics, Business Analytics, Business Collaboration, Business Performance, Financial Performance, Business Planning, Supply Chain, Demand Planning, Integrated Business Planning, Project Planning
Ventana Research recently completed the most comprehensive evaluation of analytics and business intelligence products and vendors available anywhere. As I discussed recently, such research is necessary and timely as analytics and business intelligence is now a fast-changing market. Our Value Index for Analytics and Business Intelligence in 2015 scrutinizes 15 top vendors and their product offerings in seven key categories: Usability, Manageability, Reliability, Capability, Adaptability, Vendor Validation and TCO/ROI. The analysis shows that the top supplier is Information Builders, which qualifies as a Hot vendor and is followed by 10 other Hot vendors: SAP, IBM, MicroStrategy, Oracle, SAS, Qlik, Actuate (now part of OpenText) and Pentaho.
Topics: Big Data, Data Quality, Predictive Analytics, Gartner, Governance, Customer Performance, Analytics, Business Analytics, Business Intelligence, Business Performance, Cloud Computing, Information Applications, Information Management, Operational Intelligence, Value Index, Strata+Hadoop
In covering Verint for several years I have watched it go from selling call recording systems to adding workforce optimization software, analytics, and support for multiple channels of interaction with customers. Its latest product, Customer Engagement Optimization, increases support for customer engagement and managing the customer experience. Verint has achieved this expansion through a combination of acquisitions and in-house development. Its acquisition of Kana enabled it to go from supporting workforce optimization with some analytics to supporting multiple channels of customer engagement, workforce optimization and advanced analytics. I have written several times that this approach has its advantages – acquisitions shorten the time it takes to add new capabilities and extend the scope of the products – and disadvantages – it creates challenges in producing fully integrated products and developing a common user interface so the products are easier to use. During a recent briefing I saw that the company continues its efforts to advance in all these areas.
Just a few years ago, the prevailing view in the software industry was that the category of business intelligence (BI) was mature and without room for innovation. Vendors competed in terms of feature parity and incremental advancements of their platforms. But since then business intelligence has grown to include analytics, data discovery tools and big data capabilities to process huge volumes and new types of data much faster. As is often the case with change, though, this one has created uncertainty. For example, only one in 11 participants in our benchmark research on big data analytics said that their organization fully agrees on the meaning of the term “big data analytics.”
Topics: Big Data, Data Quality, Predictive Analytics, Gartner, Customer Performance, Analytics, Business Analytics, Business Intelligence, Business Performance, Cloud Computing, Information Applications, Information Management, Value Index, Strata+Hadoop
Managing prices has always been an activity of keen interest to businesses, but it has become even more critical to do it well. Over the past decade many companies have found their ability to raise prices has been constrained by intense competition resulting from Internet commerce, global competition and other factors. One tool for dealing with this pressure is price and revenue optimization (PRO), an analytic methodology that calculates how demand varies at different price levels and then uses that algorithm to recommend prices that should optimally balance revenue and profit objectives. Computer-supported PRO began in earnest in the 1980s as the airline and hospitality industries adopted revenue management practices in efforts to maximize returns from less flexible travelers (such as people on business trips) while minimizing the unsold inventory by selling incremental seats on flights or nights in hotel rooms at discounted prices to more discretionary buyers (typically vacationers). Price and revenue optimization algorithms are designed to enable a company to achieve fatter profit margins than are possible with a monolithic pricing strategy. Using PRO, airlines and hotels catering mainly to less price-sensitive business travelers found they could match discounters’ fares and rates to fill available seats and rooms without having to forgo profits from their high-margin customers.
Topics: Big Data, Performance Management, Sales, Office of Finance, Operational Performance Management (OPM), Analytics, Business Analytics, Business Performance Management (BPM), Financial Performance Management (FPM), Sales Performance Management (SPM), analytical application, Price Optimization
Nexidia is a leading vendor of speech analytics vendor. I recently wrote about how it has enhanced its architecture to include text analytics and improve overall system performance. Version 11 of its Neural Phonetic Speech Analytics continues these enhancements to make the product faster and more accurate in its results.
It’s stating the obvious to say that how well executives manage planning processes has a big impact on how well a business unit or company plans. However, one significant source of the value of our benchmark research is that it establishes hard evidence – the numbers – that transforms mere assertions into proof points. This is particularly important when people within an organization want to improve a process. Change management is facilitated by providing senior executives with facts to back up assertions related to solving a business issue. Our recently completed next-generation business planning research provides insight into the importance of managing the planning process well and identifies some components of good management.
Topics: Big Data, Predictive Analytics, Sales, Sales Performance, Supply Chain Performance, Marketing, Customer Performance, Operational Performance, Business Analytics, Business Performance, Cloud Computing, Financial Performance, Supply Chain, S&OP
VPI is a well-established vendor of workforce optimization systems and rated a Hot Vendor in our 2015 Workforce Optimization Value Index. It offers a full suite of products for this market. Notable among them is Performance Reporting, which produces reports and dashboards showing a range of analysis and metrics about telephony, agent performance, coaching and customer success, along with alerts to inform employees of required actions. It combines data from a range of sources, both structured and unstructured, using speech analytics, and works in real or near real time. Performance Reporting is the basis for a new product, Customer Experience BI, which uses many of the same capabilities but focuses more on the customer experience while retaining the contact center capabilities. Our benchmark research into next-generation customer analytics shows this to be an important development as just under two-thirds (63%) of participants said they are considering investing in customer analytics to improve the customer experience.
In many organizations, advanced analytics groups and IT are separate, and there often is a chasm of understanding between them, as I have noted. A key finding in our benchmark research on big data analytics is that communication and knowledge sharing is a top benefit of big data analytics initiatives, but often it is a latent benefit. That is, prior to deployment, communication and knowledge sharing is deemed a marginal benefit, but once the program is deployed it is deemed a top benefit. From a tactical viewpoint, organizations may not spend enough time defining a common vocabulary for big data analytics prior to starting the program; our research shows that fewer than half of organizations have agreement on the definition of big data analytics. It makes sense therefore that, along with a technical infrastructure and management processes, explicit communication processes at the beginning of a big data analytics program can increase the chance of success. We found these qualities in the Chorus platform of Alpine Data Labs, which received the Ventana Research Technology Innovation Award for Predictive Analytics in September 2014.
Topics: Big Data, Predictive Analytics, Sales Performance, Supply Chain Performance, alpine data labs, Customer Performance, Operational Performance, Analytics, Business Analytics, Business Intelligence, Business Performance, Financial Performance, Strata+Hadoop
In our benchmark research at least half of participants that use spreadsheets to support a business process routinely say that these tools make it difficult for them to do their job. Yet spreadsheets continue to dominate in a range of business functions and processes. For example, our recent next-generation business planning research finds that this is the most common software used for performing 11 of the most common types of planning. At the heart of the problem is a disconnect between what spreadsheets were originally designed to do and how they are actually used today in corporations. Desktop spreadsheets were intended to be a personal productivity tool used, for example, for prototyping models, creating ad hoc reports and performing one-off analyses using simple models and storing small amounts of data. They were not built for collaborative, repetitive enterprise-wide tasks, and this is the root cause of most of the issues that organizations encounter when they use them in such business processes.
Topics: Planning, Sales Performance, ERP, Forecast, GRC, Office of Finance, Reporting, closing, dashboard, enterprise spreadsheet, Excel, Customer Performance, Operational Performance, Analytics, Business Analytics, Business Collaboration, Business Intelligence, Business Performance, Financial Performance, Information Management, Data, Risk, application, benchmark, Financial Performance Management
Verint entered the enterprise market for customer feedback management when it acquired Vovici in August 2011. Since then the Vovici products have been integrated into Verint’s Customer Engagement Optimization suite, which includes products originally developed by Verint and Kana, which it also acquired. The current suite supports a range of capabilities that Verint groups into three categories: customer analytics (various types of analytics and Enterprise Feedback Management), customer engagement (which is largely the Kana products that support the agent desktop, email, chat and co-browsing, knowledge and case management, and Web-based self-service) and workforce optimization (quality monitoring, workforce management, desktop and process analytics, performance management and e-learning and coaching). Having this broad array of capabilities allows Verint to support a closed-loop approach to customer feedback and connect it to the processes with which to identify issues raised through feedback and take action to improve (through process change, training and coaching, for example).
Topics: Big Data, Customer Analytics, Customer Experience, Customer Feedback Management, Speech Analytics, Customer Performance, Analytics, Business Analytics, Cloud Computing, Customer Service, Call Center, Contact Center, Contact Center Analytics, Text Analytics
All lines of business are under pressure to meet targets and deliver expected results, but none is under more pressure than Sales. Like other organizations it must use information to derive insights about progress and problems and to decide what changes to make. Today businesses collect and analyze data from more data sources in more forms than ever before. To understand it they need effective analytics, and again none need it more than Sales.
Topics: Big Data, Sales, Sales Performance, Operational Performance, Business Analytics, Business Collaboration, Business Intelligence, Cloud Computing, Financial Performance, Information Applications, Sales Performance Management, SFA
Ventana Research recently released the results of our Next-Generation Business Planning benchmark research. Business planning encompasses all of the forward-looking activities in which companies routinely engage. The research examined 11 of the most common types of enterprise planning: capital, demand, marketing, project, sales and operations, strategic, supply chain and workforce planning, as well as sales forecasting and corporate and IT budgeting. We also aggregated the results to draw general conclusions.
Topics: Big Data, Planning, Predictive Analytics, Sales, Sales Performance, Social Media, Supply Chain Performance, Human Capital Management, Marketing, Office of Finance, Reporting, Budgeting, Controller, Customer Performance, Operational Performance, Business Analytics, Business Performance, Cloud Computing, Financial Performance, In-memory, Workforce Performance, CFO, Supply Chain, capital spending, demand management, Financial Performance Management, financial reporting, FPM, Integrated Business Planning, S&OP
Maximizing the performance and value of people in the workforce should be a primary focus for any business these days. It is a complex task, especially for larger organizations, and chances for success can be increased by investment in human capital management (HCM) applications. In this competitive software market SAP is making a strong push, aided by acquisitions in the last three years of SuccessFactors for talent management and more recently Fieldglass for contingent labor management. Recently I attended the SAP HCM analyst summit to hear about its direction and plans to grow its market share. The company has made progress since our last analyst perspective on it. Mike Ettling, SAP’s president for the HR line of business, discussed its newly refined strategy and organizational structure; the company has added executives from around the globe to emphasize its commitment to helping human resources organizations.
Topics: SAP, HCM, Human Capital Management, Learning, Performance, Recruiting, SuccessFactors, Operational Performance, Analytics, Business Analytics, Business Performance, Cloud Computing, Financial Performance, Compensation, HRMS, Vendor Management Systems, Workforce Analytics, Workforce Management, Workforce Planning
Data is an essential ingredient for every aspect of business, and those that use it well are likely to gain advantages over competitors that do not. Our benchmark research on information optimization reveals a variety of drivers for deploying information, most commonly analytics, information access, decision-making, process improvements and customer experience and satisfaction. To accomplish any of these purposes requires that data be prepared through a sequence of steps: accessing, searching, aggregating, enriching, transforming and cleaning data from different sources to create a single uniform data set. To prepare data properly, businesses need flexible tools that enable them to enrich the context of data drawn from multiple sources, collaborate on its preparation to serve business needs and govern the process of preparation to ensure security and consistency. Users of these tools range from analysts to operations professionals in the lines of business.
Topics: Big Data, Sales Performance, Supply Chain Performance, Customer Performance, Operational Performance, Analytics, Business Analytics, Business Collaboration, Business Intelligence, Business Mobility, Business Performance, Cloud Computing, Data Preparation, Financial Performance, Information Applications, Information Management, Location Intelligence, Operational Intelligence, Workforce Performance, Information Optimization
The idea of not focusing on innovation is heretical in today’s business culture and media. Yet a recent article in The New Yorker suggests that today’s society and organizations focus too much on innovation and technology. The same may be true for technology in business organizations. Our research provides evidence for my claim.
At its annual MicroStrategy World conference, this provider of analytics and business intelligence systems for business and IT introduced a new version of its flagship product, MicroStrategy 9s. Among many advances it adds enterprise grade security with MicroStrategy Usher as part of the maintenance update to its 9.4.1 release. Security is increasingly critical for analytics and BI. Technologies that work intensively with data, including reporting, business intelligence, analytics and data preparation, have access to a range of applications and databases and could leave gaps in access controls and security of essential business data. Already in 2015 the data breach at Anthem put more than 80 million medical records at risk. Our benchmark research in big data analytics finds that integration into security and user access frameworks is a very important capability to 37 percent of organizations.
Topics: Big Data, Mobile, Sales Performance, Governance, Operational Performance, Analytics, Business Analytics, Business Collaboration, Business Intelligence, Business Mobility, Business Performance, Cloud Computing, Customer & Contact Center, Information Applications, Information Management, Risk & Compliance (GRC), Security
One of the issues in handling the tax function in business, especially where it involves direct (income) taxes, is the technical expertise required. At the more senior levels, practitioners must be knowledgeable about accounting and tax law. In multinational corporations, understanding differences between accounting and legal structures in various localities and their effects on tax liabilities requires more knowledge. Yet when I began to study the structures of corporate tax departments, I was struck by the scarcity of senior-level titles in them. This may reflect the low profile of the department in most companies and the tactical nature of the work it has performed. Advances in information technology have the potential to automate most of the manual tasks tax professionals perform. This increase in efficiency will enable tax departments to fill a more strategic, important role in the companies they serve.
Topics: Big Data, ERP, Governance, GRC, Office of Finance, audit, finance transformation, LongView, Tax, Analytics, Business Analytics, Business Performance, Financial Performance, Information Management, Oracle, CFO, Risk & Compliance (GRC), Vertex, FPM, Innovation Awards, Thomson-Reuters multinational
Oracle is one of the world's largest business intelligence and analytics software companies. Its products range from middleware, back-end databases and ETL tools to business intelligence applications and cloud platforms, and it is well established in many corporate and government accounts. A key to Oracle's ongoing success is in transitioning its business intelligence and analytics portfolio to self-service, big data and cloud deployments. To that end, three areas in which the company has innovated are fast, scalable access for transaction data; exploratory data access for less structured data; and cloud-based business intelligence.
Big data has become a big deal as the technology industry has invested tens of billions of dollars to create the next generation of databases and data processing. After the accompanying flood of new categories and marketing terminology from vendors, most in the IT community are now beginning to understand the potential of big data. Ventana Research thoroughly covered the evolving state of the big data and information optimization sector in 2014 and will continue this research in 2015 and beyond. As it progresses the importance of making big data systems interoperate with existing enterprise and information architecture along with digital transformation strategies becomes critical. Done properly companies can take advantage of big data innovations to optimize their established business processes and execute new business strategies. But just deploying big data and applying analytics to understand it is just the beginning. Innovative organizations must go beyond the usual exploratory and root-cause analyses through applied analytic discovery and other techniques. This of course requires them to develop competencies in information management for big data.
Topics: Big Data, MapR, Predictive Analytics, Sales Performance, SAP, Supply Chain Performance, Human Capital, Marketing, Mulesoft, Paxata, SnapLogic, Splunk, Customer Performance, Operational Performance, Business Analytics, Business Intelligence, Business Performance, Cloud Computing, Cloudera, Financial Performance, Hortonworks, IBM, Informatica, Information Management, Operational Intelligence, Oracle, Datawatch, Dell Boomi, Information Optimization, Savi, Sumo Logic, Tamr, Trifacta, Strata+Hadoop
Business planning includes all of the forward-looking activities in which companies routinely engage. Companies do a great deal of planning. They plan sales and determine what and how they will produce products or deliver services. They plan the head count they’ll need and how to organize distribution and their supply chain. They also produce a budget, which is a financial plan. The purpose of planning is to be successful. Planning is defined as the process of creating a detailed formulation of a program of action to achieve some overall objective. But it’s more than that. The process of planning involves discussions about objectives and the resources and tactics that people need to achieve them. When it’s done right, planning is the best way to get everyone onto the same page to ensure that the company is well organized in executing strategy. Setting and to a greater degree changing the company’s course require coordination. Being well coordinated in this case means being able to understanding the impact of the policies and actions in your part of the company on the rest of the company.
Topics: Big Data, Planning, Predictive Analytics, Sales Performance, Supply Chain Performance, Human Capital, Marketing, Office of Finance, Reporting, Sales Forecasting, Budgeting, Operational Performance, Analytics, Business Analytics, Business Collaboration, Business Performance, Customer & Contact Center, Financial Performance, Business Planning, Supply Chain, Demand Planning, Integrated Business Planning, Project Planning, S&OP
This year presents much opportunity for organizations to use a new generation of technology to compete better, be more efficient in their business operations and engage their workforces to their full potential. We have identified and begun to track the following next-generation technologies: analytics, big data, collaboration, cloud computing, mobile technology and social media, and in 2014 we added wearable computing to the list. In 2015 we will intensify our focus on all of them specifically in our research agenda and as part of our line of business research agendas.
Topics: Big Data, Sales Performance, Social Media, Supply Chain Performance, Governance, Mobile Technology, Wearable Computing, Operational Performance, Analytics, Business Analytics, Business Collaboration, Business Intelligence, Business Performance, Cloud Computing, Collaboration, Customer & Contact Center, Financial Performance, Information Applications, Information Management, Location Intelligence, Operational Intelligence, Workforce Performance, Risk & Compliance (GRC), Technology Innovation
Our benchmark research into business technology innovation shows that analytics ranks first or second as a business technology innovation priority in 59 percent of organizations. Businesses are moving budgets and responsibilities for analytics closer to the sales operations, often in the form of so-called shadow IT organizations that report into decentralized and autonomous business units rather than a central IT organization. New technologies such as in-memory systems (50%), Hadoop (42%) and data warehouse appliances (33%) are top back-end technologies being used to acquire a new generation of analytic capabilities. They are enabling new possibilities including self-service analytics, mobile access, more collaborative interaction and real-time analytics. In 2014, Ventana Research helped lead the discussion around topics such as information optimization, data preparation, big data analytics and mobile business intelligence. In 2015, we will continue to cover these topics while adding new areas of innovation as they emerge.
Topics: Big Data, Operational Performance, Analytics, Business Analytics, Business Collaboration, Business Intelligence, Business Performance, Cloud Computing, Customer & Contact Center, Data Preparation, Information Applications, Information Management, Operational Intelligence, analytical application, analytics in the cloud
Our recent Office of Finance benchmark research demonstrates the importance of using automation to execute finance department functions. Information technology systems do at least two things very well that make better use of people’s time, and both of them can substantially improve organizational performance. First, they eliminate the need for people to do repetitive tasks, which frees them to spend time on more valuable work that requires judgment and skill. IT systems also can be programmed to focus only on relevant information while eliminating the need to get immersed in detail. The latter capability supports a “management by exception” approach, which enables executives and managers to better allocate how and where they spend their time.
Topics: Big Data, Mobile, Planning, ERP, FP&A, Office of Finance, Reporting, Self-service, Budgeting, close, closing, computing, Controller, dashboard, Tax, Analytics, Business Analytics, Business Collaboration, Business Intelligence, Business Performance, Cloud Computing, Collaboration, Financial Performance, CFO, Data, finance, Financial Performance Management, FPM, Microsoft Excel, Spreadsheets
I recently wrote about customer experience lessons I learned during 2014 and the technologies required to deliver EPIC experiences. Both of these analyses focus on the people, processes, information and technologies required to improve the customer experience at every touch point, and these themes will also be at the heart of our customer technology research agenda for 2015.
Topics: Big Data, Social Media, Customer Analytics, Customer Experience, Customer Feedback Management, Speech Analytics, Analytics, Business Analytics, Business Collaboration, Cloud Computing, Customer & Contact Center, Customer Service, Call Center, Contact Center, Contact Center Analytics, CRM, Text Analytics
Actuate, a company known for powering BIRT, the open source business intelligence technology, has been delivering large-scale consumer and industrial applications for more than 20 years. In December the company announced it would be acquired by OpenText of Ontario, Canada. OpenText is Canada’s largest software vendor with more than 8,000 employees and a portfolio of enterprise information management products. It serves primarily large companies. The attraction of Actuate for such a company can be seen in a number of its legacy assets as well as more current acquisitions and developments but also its existing customer base. It was also awarded a 2014 Ventana Research Business Leadership Award.
Topics: Big Data, F-Type, OpenText, Operational Performance, Analytics, Business Analytics, Business Intelligence, Business Performance, Customer & Contact Center, Financial Performance, Information Applications, Operational Intelligence, Digital Technology
As with many other research topics, Ventana Research investigates workforce optimization in two ways. Our benchmark research into next-generation workforce optimization assesses how companies use workforce optimization systems now and intend to in the future, while our Workforce Optimization Value Index evaluates how well workforce optimization products and vendors match buyers’ needs. In our newly released 2015 Workforce Optimization Value Index the top vendors are Verint and VPI, both rated Hot, followed by five other Hot vendors: NICE Systems, OnviSource, Aspect, Calabrio and Envision. The overall scores place all seven Hot vendors within four percentage points of each other, and only a further three percentage points separate the three Warm vendors – Genesys, KnoahSoft and Interactive Intelligence. The closeness of the scoring suggests that this is a mature market and in most respects vendors support much the same features.
Topics: Big Data, Social Media, Customer Analytics, Customer Experience, Customer Feedback Management, Speech Analytics, Analytics, Business Analytics, Business Collaboration, Cloud Computing, Customer & Contact Center, Customer Service, Call Center, Contact Center, Contact Center Analytics, CRM, Text Analytics
In 2014, IBM announced Watson Analytics, which uses machine learning and natural language processing to unify and simplify the user experience in each step of the analytic processing: data acquisition, data preparation, analysis, dashboarding and storytelling. After a relatively short beta testing period involving more than 22,000 users, IBM released Watson Analytics for general availability in December. There are two editions: the “freemium” trial version allows 500MB of data storage and access to file sizes less than 100,000 rows of data and 50 columns; the personal edition is a monthly subscription that enables larger files and more storage.
Topics: Data Visualization, Predictive Analytics, Operational Performance, Analytics, Business Analytics, Business Intelligence, Business Performance, Cloud Computing, Customer & Contact Center, Information Applications, Information Management, Data Discovery, Watson
Verint is a well-established vendor of workforce optimization systems. It recently acquired KANA Software, as I discussed, which enabled Verint to move further into the customer engagement market. Now Verint has combined the two companies’ range of analytics products to create Verint Engagement Analytics.
Topics: Big Data, Customer Analytics, Customer Experience, Customer Feedback Management, Speech Analytics, Analytics, Business Analytics, Cloud Computing, Customer & Contact Center, Customer Service, Call Center, Contact Center, Contact Center Analytics, CRM, Text Analytics
Organizations today create and collect data at ever faster rates, and this introduces challenges in ensuring that data is not just managed but used in a consistent manner for a range of operational and analytic tasks. This is made more difficult by new data sources whose definitions vary from standard and widely used formats. Making all information available and consistent is essential to support business processes and decision-making. A key technology tool for this effort is master data management (MDM). Every business area needs MDM, whether it deals with customers, products, employees, finance or others individually or collectively in what is called multidomain MDM. It is an essential tool for data governance across an organization, which has become a focal point for improvement as many organizations spend significant time in data-related tasks. Our benchmark research on information optimization shows that preparing data for analysis (47%) and reviewing data for quality and consistency issues (45%) are the two information tasks that consume the most time. Properly used MDM enables data stewards and other IT professionals to improve the consistency and quality of departmental and enterprise data.
Topics: Big Data, Data Quality, Master Data Management, Sales, Sales Performance, Social Media, Supply Chain Performance, Golden Records., MDM, Operational Performance, Analytics, Business Analytics, Business Performance, Cloud Computing, Customer & Contact Center, Data Management, Financial Performance, Information Applications, Information Management, Workforce Performance
Big data has great promise for many organizations today, but they also need technology to facilitate integration of various data stores, as I recently pointed out. Our big data integration benchmark research makes it clear that organizations are aware of the need to integrate big data, but most have yet to address it: In this area our Performance Index analysis, which assesses competency and maturity of organizations, concludes that only 13 percent reach the highest of four levels, Innovative. Furthermore, while many organizations are sophisticated in dealing with the information, they are less able to handle the people-related areas, lacking the right level of training in the skills required to integrate big data. Most said that the training they provide is only somewhat adequate or inadequate.
Topics: Big Data, Operational Performance, Business Analytics, Business Intelligence, Business Performance, CIO, Cloud Computing, Data Integration, Information Applications, Information Management, Strata+Hadoop
Those of us who have been in the technology industry for many years remember the phrase “No one ever got fired for buying IBM.” Then IBM was both a hardware and a system software vendor, and most IT managers new that hardly anyone would question a decision to go with IBM. These days IBM has done extensive marketing to make itself known for everything “smart” – planets, cities, commerce and of course technology. While its website suggests it offers a limited number of software products, in fact IBM is one of the largest providers software and is committed to innovation. David Stokes, CEO of the U.K. and Ireland division, kicked off its recent U.K. BusinessConnect event by reminding the audience that IBM is driven by three fundamentals – data, the cloud and security.
Topics: Big Data, Social Media, Customer Analytics, Customer Experience, Customer Feedback Management, Speech Analytics, Self-service, Analytics, Business Analytics, Cloud Computing, Customer & Contact Center, Customer Service, Call Center, Contact Center, Contact Center Analytics, CRM, Text Analytics
SYSPRO is a 35-year-old ERP vendor that focuses on products for midsize companies, particularly those in manufacturing and distribution. In manufacturing, SYSPRO supports make, configure and assemble, engineer to order, make to stock and job shop environments. The company attempts to differentiate itself through vertical specialization and its years of ongoing development, which can reduce the need for customization and cut the cost of initial and ongoing configuration to suit the needs of companies in these industries, thereby cutting the total cost of ownership. Worldwide its targeted verticals include electronics, food, machinery and equipment and medical devices; in the United States, it adds automotive parts (original equipment and after-market) and energy.
Topics: Performance Management, Supply Chain Performance, ERP, Human Capital Management, Office of Finance, Reporting, cloud ERP, container, Operational Performance, Analytics, Business Analytics, Business Performance, Cloud Computing, Collaboration, Dashboards, Financial Performance, Supply Chain, SCM, S&OP, Digital Technology
PentahoWorld, the first user conference for this 10-year-old supplier of data integration and business intelligence that provides business analytics, attracted more than 400 customers in roles ranging from IT and database professionals to business analysts and end users. The diversity of the crowd reflects Pentaho’s broad portfolio of products. It covers the integration aspects of big data analytics with the Pentaho Data Integration tools and the front-end tools and visualization with the Pentaho Business Analytics. In essence its portfolio provides end-to-end data to analytics through what they introduced as Big Data Orchestration that brings governed data delivery and streamlined data refinery together on one platform.
Topics: Big Data, Pentaho, Governance, IT Research, Operational Performance, Analytics, Business Analytics, Business Intelligence, Business Performance, Customer & Contact Center, Information Applications, Information Management, Operational Intelligence, Risk & Compliance (GRC), PDI
Financial management software provider Intacct recently held its seventh annual user conference. In addition to a long list of enhancements in current and upcoming product releases, the company used the occasion to announce Intacct Collaborate, a capability built into its software that enables finance and accounting organizations to work together to answer questions or resolve issues while performing a process. Our benchmark research shows that collaboration ranks second in importance behind analytics as a technology innovation priority. Collaborative capabilities in software will multiply over the next several years as software transitions from the rigid constructs established in the client/server days, which force users to adapt to the limitations of the software, to fluid and dynamic designs that mold themselves around the needs of the user. A while back, I noted that finance and accounting organizations need collaborative capabilities although they might not realize it. At the same time, finance departments have their own requirements for these systems that reflect the character and constraints of the work they do. This means narrowcast, not broadcast, feeds (Finance doesn’t want a Facebook or Twitter experience because it considers much of what it does to be confidential) and in-context collaborative capabilities to simplify the working environment.
Topics: Performance Management, Sales Performance, Salesforce.com, ERP, Human Capital Management, NetSuite, Office of Finance, Reporting, cloud ERP, Analytics, Business Analytics, Business Collaboration, Business Performance, Chatter, Cloud Computing, Collaboration, Dashboards, Financial Performance, FinancialForce, Intacct
The market for big data continues to grow as organizations try to extract business value from their own masses of data and other sources. Earlier this year I outlined the dynamics of the business opportunity for big data and information optimization. We continue to see advances as big data and associated information technologies deliver more value, but the range of innovation also has created fragmentation among existing systems including databases that are managed onpremises or in cloud computing environments. In this changing environment organizations encounter new challenges not only in adapting to technology that is more efficient in automating data processing but also in integrating it into their enterprise architecture. I’ve already explained how big data can be ineffective without integration, and we conducted more in-depth research into the market, resulting in our benchmark research on big data integration, which reveals the state of how organizations are adopting this technology in their processes.
At this year's Dreamforce more than 140,000 people gathered in San Francisco to share the excitement about the use of technology for business. Salesforce.com’s annual conference has reached megashow status, which is a mixed blessing: Dreamforce remains social in its design, but it has become impersonal due to its size. In any case Salesforce had plenty to show off. The company has continued to enhance its cloud-based business applications for sales and customer service, and in the last year it has added marketing through acquisitions. It also has advanced the attraction of its cloud computing platform; even IT departments see its approach as a simple way to use and build applications, especially mobile ones which the ubiquity of smartphones and tablets have made critical to business. Cloud computing is becoming the defacto approach for new applications and software for business and now IT, and its importance continues to grow: Our benchmark research on business technology innovation shows that it is important or very important to more than half (57%) of organizations. At Dreamforce, Salesforce announced Salesforce1 Lightning (available in 2015), a way to assemble mobile applications that can operate across platforms. Salesforce makes the technical details of the mobile platform transparent and facilitates assembly of mobile applications.
At a conference of more than 3,500 users, Splunk executives showed off their company’s latest tools. Splunk makes software for discovering, monitoring and analyzing machine data, which is often considered data exhaust since it is a by-product of computing processes and applications. But machine data is essential to a smoothly running technology infrastructure that supports business process. One advantage is that because machine data not recorded by end users, it is less subject to input error. Splunk has grown rapidly by solving fundamental problems associated with the complexities of information technology and challenging assumptions in IT systems and network management that is rapidly being referred to as big data analytics. The two main and related assumptions it challenges are that different types of IT systems should be managed separately and that data should be modeled prior to recording it. Clint Sharp, Splunk’s director of product marketing, pointed out that network and system data can come from several sources and argued that utilizing point solution tools and a “model first” approach does not work when it has to deal with big data and a question-and-answer paradigm. Our research into Operational Intelligence finds that IT systems are most important information source in almost two thirds (62%) of organizations. Splunk used the conference to show how it has brought to these data management innovations the business trends of mobility, cloud deployment and security.
Most HR technology practitioners and vendors attend the annual HR Technology Conference and Exposition. One of the largest industry gatherings, it provides an indicator of their levels of investment and the hottest trends. This year’s event revealed new technologies and approaches to two key human resources processes – recruitment and retention. They included predictive analytics and big data as well mobile delivery to allow employees easier access to applications. Regarding the first two, these technologies can help managers make better informed and more intelligent decisions from their masses of HR data. It seems that investment in recruiting applications has increased with the growth of the economy. Earlier this year I described how many vendors are investing in recruiting applications. At HR Tech I saw this trend continuing, hearing from vendors that are focused on evolving their recruiting software. Among the new products in recruiting is HireVue Insights, which uses predictive logic and big data to analyze the desirability of candidates. HireVue recently won our 2014 Ventana Research Technology Innovation award for this offering. In addition, talent management vendor Cornerstone OnDemand announced an agreement to acquire Evolv, whose primary product also uses big data and predictive models to match candidates to positions. Our benchmark research on human capital analytics shows that many organizations are considering investments in big data for human capital analytics in almost half of organizations, so these and other products appear to be in step with market demand.
Topics: Social Media, Kronos, Peoplefluent, Recruiting, Wearable Computing, Fuel50, Operational Performance, Smart Watches, Analytics, Business Analytics, Business Collaboration, Business Intelligence, Business Performance, Cloud Computing, Financial Performance, IBM, Oracle, Workforce Performance, Ceridian, HireVue, Saba, HR Tech, HR Technology Conference, Qualtrics, Tanner Labs
Finance transformation” refers to a longstanding objective: shifting the focus of CFOs and finance departments from transaction processing to more strategic, higher-value functions. Our upcoming Office of Finance benchmark research confirms that most of organizations want their finance department to take a more strategic role in management of the company: nine in 10 participants said that it’s important or very important. (We are using “finance” in its broadest sense, including, for example, accounting, corporate finance, financial planning and analysis, treasury and tax functions.) Finance departments have the ability and at least an implicit mandate to improve business performance and enable a corporation to execute strategy more effectively. Yet the research shows that becoming strategic is a work in progress. Most departments handle the basics well, but half fall short in areas that can contribute significantly to the performance of their company. More than three-fourths of participants said they perform accounting, external financial reporting, financial analysis, budgeting and management accounting well or very well. But only half said that about their ability to do product and customer profitability management, strategic and long-range planning and business development.
Topics: Big Data, Mobile, Performance Management, Predictive Analytics, Social Media, ERP, FP&A, Office of Finance, Reporting, Management, close, closing, computing, Controller, Tax, Analytics, Business Analytics, Business Collaboration, Business Performance, Cloud Computing, Collaboration, Financial Performance, CFO, finance, Tagetik, FPM
Qlik was an early pioneer in developing a substantial market for a visual discovery tool that enables end users to easily access and manipulate analytics and data. Its QlikView application uses an associative experience that takes an in-memory, correlation-based approach to present a simpler design and user experience for analytics than previous tools. Driven by sales of QlikView, the company’s revenue has grown to more than $.5 billion, and originating in Sweden it has a global presence.
Topics: Big Data, Data Visualization, QlikView, Sales Performance, Supply Chain Performance, Tableau, Operational Performance, Analytics, Business Analytics, Business Intelligence, Business Performance, Customer & Contact Center, Information Applications, Data Discovery, Lumira, Qlik, Qlik Qlik Sense
Finance and accounting departments are staffed with numbers-oriented, naturally analytical people. Strong analytic skills are essential if a finance department is to deliver deep insights into performance and visibility into emerging opportunities and challenges. The conclusions of analyses enable fast, fully informed business decisions by executives and managers. Conversely, flawed analyses undermine the performance of a company. So it was good news that in our Office of Finance benchmark research 62 percent of participants rated the analytical skills of their finance organization as above average or excellent.
Topics: Big Data, Mobile, Planning, Predictive Analytics, ERP, FP&A, Office of Finance, Reporting, Self-service, Budgeting, close, closing, computing, Controller, dashboard, Tax, Analytics, Business Analytics, Business Intelligence, Business Performance, Cloud Computing, Collaboration, Financial Performance, CFO, Data, finance, Tagetik, Financial Performance Management, FPM, Microsoft Excel, Spreadsheets
Tableau Software introduced its latest advancements in analytics and business intelligence software along with its future plan to more than 5,000 attendees at its annual user conference in its home town of Seattle. The enthusiasm of the primarily millennial-age crowd reflected not only the success of the young company but also its aspirations. The market for what Ventana Research calls visual and data discovery and Tableau have experienced rapid growth that is likely to continue.
Topics: Big Data, Data Visualization, Sales Performance, Analytics, Business Analytics, Business Intelligence, Business Performance, Customer & Contact Center, Operational Intelligence, Data Discovery, Tableau Software
Infor recently held its annual Inforum user group meeting, along with a series of sessions with analysts. The $2 billion business software company has products in the major categories of ERP (including enterprise financial management), human capital management, customer relationship management and performance management among others.
Topics: Microsoft, Mobile, SaaS, Sales, Sales Performance, Salesforce.com, Supply Chain Performance, ERP, HCM, Human Capital, Office of Finance, Dynamics AX, Dynamics GP, Dynamics NAV Dynamics SL, Kenandy, PSA, Sage Software, Unit4, Operational Performance, Analytics, Business Analytics, Business Collaboration, Business Performance, Cloud Computing, Collaboration, Customer & Contact Center, Financial Performance, Workforce Performance, CFO, FinancialForce, HR, Infor, Workday, HANA, Plex, Professional Services Automation
ADP recently held its annual analyst day in the company’s new innovation center in the Chelsea district of Manhattan. The location emphasized what ADP wanted to get across to the analyst community at the event: that it intends to become a significant vendor of human capital management (HCM) software based in the cloud. ADP hopes to broaden its business from being largely an outsourcing vendor of payroll and related services (such as for auto dealers) to one that provides software for a range of HCM activities.
Topics: Big Data, Mobile, Social Media, HCM, Human Capital Management, Office of Finance, Predictive, Analytics, Business Analytics, Business Collaboration, Business Intelligence, Cloud Computing, Mobility, Workforce Performance, compliance, HR, HRMS, Healthcare Compliance
“What’s next?” is the perennially insistent question in information technology. One common observation about the industry holds that cycles of innovation alternate between hardware and software. New types and forms of hardware enable innovations in software that utilize the power of that hardware. These innovations create new markets, alter consumer behavior and change how work is performed. This, in turn, sets the stage for new types and forms of hardware that complement these emerging product and service markets as well as the new ways of performing work, creating products and fashioning services that they engender. For example, the emerging collection of wearable computing devices seems likely to generate a new wave of software/hardware innovation, as my colleague Mark Smith has noted. This said, I think that the idea of alternating cycles no longer applies. It would be convenient if we could assign discrete time periods to hardware dominance and software dominance, but like echoes as they fade, the reverberations are no longer as neatly synchronized as they once were. Moreover, adoption and adaptation of technology by consumers reflected in the design of work, products and services always lags – and lags in different ways, further blurring the timing of cycles.
Topics: Mobile, Performance Management, Predictive Analytics, Sales Performance, Supply Chain Performance, ERP, Office of Finance, Reporting, Wearable Computing, Management, close, closing, computing, Operational Performance, Analytics, Business Analytics, Business Collaboration, Business Performance, Cloud Computing, Financial Performance, Workforce Performance, finance, FPM
I recently wrote about NICE Systems’ acquisition of Causata to enhance its analytics capabilities and expand from workforce optimization into customer experience management. NICE recently released Customer Engagement Analytics, which is designed to analyze customer interaction data to help companies improve the customer experience at every touch point. NICE calls this optimizing the customer journey.
Topics: Customer Analytics, Customer Experience, Operational Performance, Analytics, Business Analytics, Business Intelligence, Cloud Computing, Customer & Contact Center, Customer Service, Call Center, Contact Center, Contact Center Analytics, CRM
I’ve written before about the increasing importance of having a solid technology base for a company’s tax function, and it’s important enough for me to revisit the topic. Tax departments are entrusted with a highly sensitive and essential task in their companies. Taxes usually are the second largest corporate expense, after salaries and wages. Failure to understand this liability is expensive – either because taxes are overpaid or because of fines and interest levied for underpayment. Moreover, taxes remain a political issue, and corporations – especially larger ones – must be mindful of the reputational implications of their tax liabilities.
Topics: ERP, Governance, GRC, Office of Finance, audit, finance transformation, LongView, Tax, Analytics, Business Analytics, Business Intelligence, Business Performance, Financial Performance, Information Management, Oracle, CFO, Risk & Compliance (GRC), Vertex, FPM, Innovation Awards, Thomson-Reuters multinational
It’s widely agreed that cloud computing is a major technology innovation. Many companies use cloud-based systems for specific business functions such as customer service, sales, marketing, finance and human resources. More generally, however, analytics and business intelligence (BI) have not migrated to the cloud as quickly. But now cloud-based data and analytics products are becoming more common. This trend is most popular among technology companies, small and midsize businesses, and departments in larger ones, but there are examples of large companies moving their entire BI environments to the cloud. Our research into big data analytics shows that more than one-fourth of analytics initiatives for companies of all sizes are cloud-based.
Topics: Big Data, SaaS, Sales Performance, Social Media, Governance, Statistics, cloud analytics, IT Performance, Analytics, Business Analytics, Business Intelligence, Business Performance, Cloud Computing, Customer & Contact Center, Data Integration, Financial Performance, Internet of Things, Location Intelligence, Operational Intelligence, Workforce Performance, Risk & Compliance (GRC), cloud business intelligence
The human resources management system (HRMS) have been a central part of human resources departments for decades. Though useful to HR, these systems have also been static. Speaking generally, their functionality has not advanced greatly while other technologies have made great strides, and the information in them has been restricted to mostly use by HR professionals. However, along with growth in distinct and integrated talent management systems and in workforce management systems, this has begun to change as the HRMS is being integrated with these newer systems. The changes make it possible for HRMSs to become more strategic as HR professionals use them in new ways. To that end, Ventana Research will conduct a benchmark research project to evaluate the evolution of these systems and processes to determine where they are becoming more strategic applications for HR.
Topics: Big Data, Mobile, Social Media, HCM, TM, WFM, Analytics, Business Analytics, Business Collaboration, Business Intelligence, Cloud Computing, Information Applications, Workforce Performance, HRMS, Talent Management, Workforce Management, HR Management, HRIS
Now available from Ventana Research is our Value Index on Total Compensation Management for 2014. Total compensation management directly addresses one of an organization’s largest investments – employee pay. As such it is a critical activity for supporting other human capital management and talent management processes.
Topics: SAP, Human Capital Management, Kenexa, Peoplefluent, SuccessFactors, Decusoft, Towers Watson, Analytics, Business Analytics, Business Collaboration, Cloud Computing, Financial Performance, IBM, Mobility, Oracle, Workforce Performance, Compensation, SumTotal Systems, TCM, Value Index, beqom, Pay for Performance
Oracle has a large and diverse set of products and now has most of its business applications operating in the private and public cloud. However, some recent acquisitions have enabled it to focus on cloud-based-products for managing the customer experience. Our next generation customer engagement research has found that customer experience is the top impetus for improving customer engagement as found by almost three quarters (74%) of organizations. Oracle has created a customer experience suite that includes marketing, commerce, service, sales, CPQ and social cloud. In particular the acquisition of RightNow has become the foundation of Oracle Service Cloud.
Topics: Sales Performance, Social Media, Customer Analytics, Customer Experience, Social CRM, Mobile Apps, Operational Performance, Analytics, Business Analytics, Cloud Computing, Collaboration, Customer & Contact Center, Customer Service, Call Center, Contact Center, Contact Center Analytics, CRM
In the past year Workday has been making efforts to improve its human capital management (HCM) suite focused directly on the core human resources management systems and talent management software. In my previous analyst perspective about Workday I looked at its mobile capabilities for HCM. These additions, in concert with the enhancements discussed here, offer useful improvements. I have also noticed changes in the HCM market that impact all large competitors in it, including Workday. Before discussing these changes, it might help to summarize the company’s past three major releases.
Topics: Big Data, Mobile, Social Media, HCM, Recruiting, Operational Performance, Analytics, Business Analytics, Business Collaboration, Business Intelligence, Cloud Computing, Customer & Contact Center, Workforce Performance, Workday, HR/Payroll
One of the charitable causes to which I devote time puts on an annual vintage car show. The Concours d’Élegance dates back to 17th century France, when wealthy aristocrats gathered with judges on a field to determine who had the best carriages and the most beautiful horsepower. Our event serves as the centerpiece of a broader mission to raise money for several charitable organizations. One of my roles is to keep track of the cars entered in the show, and in that capacity I designed an online registration system. I’ve been struck by how my experiences with a simple IT system have been a microcosm of the issues that people encounter in designing, administering and using far more sophisticated ones. My most important take-away from this year’s event is the importance of self-service reporting. I suspect that most senior corporate executives – especially those in Finance – fail to appreciate the value of self-service reporting. It frees up the considerable resources organizations collectively waste on unproductive work, and it increases responsiveness and agility of the company as a whole.
Topics: Planning, Sales Performance, Supply Chain Performance, Office of Finance, Reporting, Self-service, Budgeting, dashboard, Operational Performance, Analytics, Business Analytics, Business Intelligence, Business Performance, Customer & Contact Center, Financial Performance, Information Applications, Workforce Performance, Data, Financial Performance Management, Microsoft Excel, Spreadsheets
Our benchmark research consistently shows that business analytics is the most significant technology trend in business today and acquiring effective predictive analytics is organizations’ top priority for analytics. It enables them to look forward rather than backward and, participate organizations reported, leads to competitive advantage and operational efficiencies.
Topics: Big Data, Predictive Analytics, Sales Performance, Statistics, IT Performance, Operational Performance, Analytics, Business Analytics, Business Collaboration, Business Intelligence, Business Performance, Cloud Computing, Customer & Contact Center, Data Integration, Financial Performance, Governance, Risk & Compliance (GRC), Information Applications, Information Management, Location Intelligence, Operational Intelligence, Workforce Performance
Like other vendors of cloud-based ERP software, NetSuite offers the key benefits of software as a service (SaaS): a smaller upfront investment, faster time to value and potentially lower operating costs. Beyond that NetSuite’s essential point of competitive differentiation from is broad functionality beyond financial management, including capabilities for customer relationship management (CRM), professional services automation (PSA) and human capital management (HCM). These components make it easier for businesses to manage processes from end to end (such as quote- or order-to-cash) as well as to have transactions and business data available in a single system in consistent forms and synchronized. This in turn facilitates real-time reporting, dashboards and the use of analytics that integrate a wider set of functional data. Midsize companies are most likely to benefit from this integration because typically they have smaller, less sophisticated IT staffs than larger ones. A side benefit of having a single, integrated data source is improvement of situational awareness and visibility for executives and managers. It also enables organizations to reduce their use of spreadsheets for stitching together processes, doing routine analyses and reporting. These sorts of activities waste valuable time and reduce an organization’s agility.
Topics: Microsoft, Mobile, SaaS, Sales, Social Media, Customer Experience, ERP, HCM, Human Capital, Office of Finance, communications, Dynamics AX, Dynamics GP, Dynamics NAV Dynamics SL, PSA, Sage Software, UI, Unit4, Analytics, Business Analytics, Business Collaboration, Business Performance, Cloud Computing, Financial Performance, Workforce Performance, CFO, CRM, FinancialForce, HR, Infor, Social, Financial Performance Management, FPM, Plex, Professional Services Automation, Workday Collaboration
In recent years line-of-business applications including accounting, human resources, manufacturing, sales and customer service have appeared in the cloud. Cloud -based software as a service (SaaS) has replaced on-premises applications that were previously part of ERP and CRM environments. They have helped companies become more efficient but have also introduced interoperability challenges between business processes. Their advantage is that cloud software can be rented, configured and used within a day or week. The disadvantage is that they don’t always connect with one another seamlessly, as they used to and when managed by a third party there is limited connectivity to integrate them.
Topics: Sales Performance, Supply Chain Performance, ERP, Office of Finance, Order Management, Operational Performance, Business Analytics, Business Performance, CIO, Cloud Computing, Customer Service, Financial Performance, CFO, SFA
During recent IBM analyst big data event, I learned about a new product, IBM Predictive Customer Intelligence. It extracts and processes customer-related data from multiple sources to analyze customer-related activities and has capabilities to predict customer behavior and actions. Predictive Customer Intelligence is built on IBM’s big data platform and supports extraction and integration of data from multiple sources, internal and external, and from structured and unstructured data. It can process data created by third-party products, such as text-based files of data created by converting speech to text. The product can capture and analyze customer interactions from multiple communication channels such as voice, email, text messages, chat and Web usage scripts and social media posts.
Topics: Social Media, Customer Analytics, Customer Experience, Voice of the Customer, IBM Predictive Customer Intelligence, Analytics, Business Analytics, Business Intelligence, Cloud Computing, Collaboration, Customer & Contact Center, Customer Service, IBM, Information Applications, Call Center, Contact Center, Contact Center Analytics, IBM Watson, Text Analytics
Mobility continues to be a hot adoption area in business intelligence, according to our research across analytics and line of business departments. Nearly three-quarters (71%) of organizations said their mobile workforce would be able to access BI capabilities in the next 12 months according to our next generation mobile business intelligence research. Roambi, a provider of mobile business intelligence applications, has made important strides this year after moving to deploying its products in the cloud, an event that I covered previously. Roambi is rated as one of the top providers of mobile business intelligence or what we refer to as a ‘Hot Vendor’ according to our Value Index.
Topics: Mobile Business Intelligence, Sales Performance, flow, Analytics, Business Analytics, Business Intelligence, Business Performance, Cloud Computing, Customer & Contact Center, Information Applications, Roambi, box, Digital Technology
Tagetik provides financial performance management software. One particularly useful aspect of its suite is the Collaborative Disclosure Management (CDM). CDM addresses an important need in finance departments, which routinely generate highly formatted documents that combine words and numbers. Often these documents are assembled by contributors outside of the finance department; human resources, facilities, legal and corporate groups are the most common. The data used in these reports almost always come from multiple sources – not just enterprise systems such as ERP and financial consolidation software but also individual spreadsheets and databases that collect and store nonfinancial data (such as information about leased facilities, executive compensation, fixed assets, acquisitions and corporate actions). Until recently, these reports were almost always cobbled together manually – a painstaking process made even more time-consuming by the need to double-check the documents for accuracy and consistency. The adoption of a more automated approach was driven by the requirement imposed several years ago by United States Securities and Exchange Commission (SEC) that companies tag their required periodic disclosure filings using eXtensible Business Reporting Language (XBRL), which I have written about. This mandate created a tipping point in the workload, making the manual approach infeasible for a large number of companies and motivating them to adopt tools to automate the process. Although disclosure filings were the initial impetus to acquire collaborative disclosure management software, companies have found it useful for generating a range of formatted periodic reports that combine text and data, including board books (internal documents for senior executives and members of the board of directors), highly formatted periodic internal reports and filings with nonfinancial regulators or lien holders.
Topics: Big Data, Mobile, ERP, Human Capital Management, Modeling, Office of Finance, Reporting, Budgeting, close, closing, Consolidation, Controller, Finance Financial Applications Financial Close, IFRS, XBRL, Analytics, Business Analytics, Business Intelligence, Business Performance, Financial Performance, Governance, Risk & Compliance (GRC), CFO, compliance, Data, benchmark, Financial Performance Management, financial reporting, FPM, GAAP, Integrated Business Planning, Profitability, SEC Software
At its annual industry analyst summit last month and in a more recent announcement of enterprise support for parallelizing the R language on its Aster Discovery Platform, Teradata showed that it is adapting to changes in database and analytics technologies. The presentations at the conference revealed a unified approach to data architectures and value propositions in a variety of uses including the Internet of Things, digital marketing and ETL offloading. In particular, the company provided updates on the state of its business as well as how the latest version of its database platform, Teradata 15.0, is addressing customers’ needs for big data. My colleague Mark Smith covered these announcements in depth. The introduction of scalable R support was discussed at the conference but not announced publicly until late last month.
Topics: Big Data, Teradata, IT Performance, Operational Performance, Business Analytics, Business Intelligence, Business Performance, Customer & Contact Center, Information Applications, Information Management, Internet of Things, Operational Intelligence, Teradata Aster
The developed world has an embarrassment of riches when it comes to information technology. Individuals walk around with far more computing power and data storage in their pockets than was required to send men to the moon. People routinely hold on their laps what would have been considered a supercomputer a generation ago. There is a wealth of information available on the Web. And the costs of these information assets are a tiny fraction of what they were decades ago. Consumer products have been at the forefront in utilizing information technology capabilities. The list of innovations is staggering. The “smart” phone is positively brilliant. Games are now a far bigger business than motion pictures.
Topics: Big Data, Mobile, Predictive Analytics, Sales Performance, Social Media, Customer Experience, Performance, Operational Performance, Analytics, Business Analytics, Business Collaboration, Business Intelligence, Business Performance, Customer & Contact Center, Financial Performance, IBM, finance, Sales Performance Management, Social, Financial Performance Management, SPSS
Cornerstone OnDemand is a large pure-play vendor of talent management software, with more than 1,700 clients, more than 14.5 million users and more than 60 percent growth in revenue over the past 12 months. At the company’s annual customer conference this year, CEO Adam Miller talked about a trend in the market of talent management applications going beyond automating a series of processes to help engage employees within organizations. I agree with this analysis and would extend the trend to cover the full range of human capital management (HCM) applications.
Topics: Social Media, Human Capital Analytics, Human Capital Management, LMS, Employee Engagement, Employee Onboarding, Usability, Analytics, Business Analytics, Business Collaboration, Cloud Computing, Workforce Performance, Cornerstone OnDemand
Information Builders announced two major new products at its recent annual user summit. The first was InfoDiscovery, a tool for ad hoc data analysis and visual discovery. The second was iWay Sentinel, which allows administrators to manage applications in a proactive and dynamic manner. Being a privately held company, Information Builders is not a household name, but it is a major provider of highly scalable business intelligence (BI) and information management software to companies around the world.
Topics: Mobile, IT Performance, Operational Performance, Analytics, Business Analytics, Business Intelligence, Business Performance, Customer & Contact Center, Information Applications, Information Builders, Information Management, Internet of Things, Operational Intelligence, InfoDiscovery
By its own admission, SAS has a very large software portfolio (of more than 250 individual products), and it continues to develop and release more products and updates to existing ones. Some of the products are sold alone, and others are bundled into “enterprise solutions”. Some are for technical users, and others are business applications. This complexity can make it hard to identify which product or bundle serves a particular need. Three are most relevant to my research practice: Customer Intelligence (CI), which I wrote about after attending the 2013 SAS European analysts event; SAS Visual Analytics; and a new one, the Customer Decision Hub that SAS has developed to support multichannel customer engagement.
Topics: Social Media,