I would like to share some of my thoughts on COVID-19 and the challenges organizations are facing as they strive for business continuity and digital engagement with customers and buyers. As the global and US numbers get worse by the day, the pandemic is impacting life as we knew it and also leaves people (many in new forms of isolation) yearning for a bit of normalcy during these strange times.
Ventana Research recently announced its 2020 research agenda for marketing, continuing the guidance we’ve offered for nearly two decades to help organizations derive optimal value from business technology and improve outcomes. Chief Marketing Officers are under pressure to spearhead technology investments that help better align marketing experiences with their brand and to optimize consumer demand for products and services. This challenge is frequently heightened by a lack of centralized data related to customers and products that can help an organization meet operational and analytics needs. Organizations need a marketing data platform that connects applications and services; however, a lack of data science skills has hampered the marketing organization’s full potential.
By itself, data isn’t useful for business; the application of analytics is necessary to transform data into actionable information. Data analysis of one sort or another has long been a core competence of finance departments, applied to balance sheets, income statements or cash flow statements. Today, however, Finance must go beyond these basics by expanding the scope of the data being examined to include all financial and operational information that can yield actionable insights. Analysis thus should include, for example, data from the systems that manage sales operations, human resources and field service and that data must be available to all departments and applications that need it.
Topics: Customer Experience, Human Capital Management, Voice of the Customer, embedded analytics, Learning Management, Analytics, Business Intelligence, Collaboration, Data Governance, Data Lake, Data Preparation, Information Management, Internet of Things, Contact Center, Data, Product Information Management, Sales Performance Management, Workforce Management, Financial Performance Management, Price and Revenue Management, Digital Technology, Digital Marketing, Digital Commerce, ERP and Continuous Accounting, blockchain, natural language processing, robotic finance, Predictive Planning, candidate engagement, Intelligent CX, Conversational Computing, Continuous Payroll, AI and Machine Learning, revenue and lease accounting, collaborative computing, mobile computing, subscription management, total rewards management, intelligent marketing, intelligent sales
“Platform,” as used in the world of technology, originally referred to an operating system on which one could construct software applications. More recently, its usage has been expanded to apply to two types of business models. One enables third parties to create products and services that are complementary to a company’s core technology. For instance, both Apple and Salesforce have attracted a wide array of third-party software developers whose offerings greatly increase the value of each software vendor’s platform to its customers. The second, such as Amazon’s marketplace, Facebook, Twitter and Uber, facilitates transactions and interactions. This latter type adds value by reducing transaction frictions and increasing efficiency and, in attracting large numbers of people to the platform, enables innovative business offerings to take advantage of Metcalf’s law — the “network effect.”
Topics: Human Capital Management, Marketing, Office of Finance, Voice of the Customer, Continuous Planning, Information Management, Internet of Things, Workforce Management, Financial Performance Management, Price and Revenue Management, Digital Marketing, Digital Commerce, Operations & Supply Chain, Enterprise Resource Planning, ERP and Continuous Accounting, robotic finance, Predictive Planning, revenue and lease accounting, collaborative computing, mobile computing, subscription management
Dreamforce has become the largest enterprise software event for businesses in the United States, and it is evident why when looking at it this year. With over 170,000 business and IT professionals attending, Salesforce came to show off upcoming product announcements and innovations. This year's biggest focus was on Einstein Voice (a personalized and intelligent conversational assistant), integration with other platforms, and Salesforce Customer 360. The last of these is the start of an answer to a problem we have well documented; businesses struggle getting a full view of the customer and provide a frictionless response to issues and interactions. For the full breakdown of Dreamforce 2018, and my analysis of all the largest announcements, watch my hot take video.
Topics: Salesforce.com, Customer Experience, Machine Learning, Marketing, Voice of the Customer, CRM, Dreamforce, Sales Performance Management, SPM, Digital Technology, Digital Marketing, Robotic Process Automation, AI, natural language processing