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Wednesday, 14 September 2016 20:05

‘High stakes’ for CIOs with emerging new technologies: Forrester

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‘High stakes’ for CIOs with emerging new technologies: Forrester Image courtesy of jannoon028 at freedigitalphotos.net

A new crop of emerging technology is poised to unleash another cycle of “raised consumer expectations, changing behaviours, and disruption”, according to a new report by research firm Forrester.

The report warns that “stakes for CIOs are high” and that a wrong investment could put companies out of business.

But, make the right move and Forrester says an organisation could “vault over your competitors”.

The authors, Brian Hopkins and Adam Silverman, report that on the top are emerging technologies in three groups of five — systems of engagement technologies, systems of insight technologies, and supporting technologies.

Forrester says that in 2010, technology ignited a radical shift in behaviour as consumers became empowered, while today one-fifth of US online adults are what the authors call “Progressive Pioneers” – the segment of consumers who experiment with and rely on technology the most.

“They also have the greatest expectations for seamless digital experiences, demonstrate the most comprehensive information consumption skills, and have a strong go-getter attitude,” the report says.

According to Forrester, the rise of these “empowered customers” is forcing the best firms to rethink their fundamental operating principles in order to become customer-obsessed.

“These businesses are customer-led, instead of just customer-aware; they are driven by insights, not data; they prefer speed over efficiency; and they are connected rather than operating in silos,” Forrester reports.

Here are Forrester’s key takeaways in the report:

Five engagement technologies will improve how firms reach and serve customers

Internet-of-things (IoT) software and solutions, intelligent agents, personal identity and data management, real-time interaction management, and augmented/virtual reality will help you build loyalty with your customers.

Five insights technologies will help leaders turn data Into action

Artificial intelligence (AI)/cognitive, customer journey analytics, insight platforms, IoT analytics, and spatial analytics will help your business become insights-driven.

Five supporting technologies will help firms become connected and fast

Security automation and orchestration, containers and container management, edge computing, cloud native application platforms, and hybrid wireless connectivity will help your business be fast and connected.

Invest In emerging technologies that drive customer obsession

In 2010, technology ignited a radical shift in behaviour as consumers became empowered. Today, one-fifth of US online adults are Progressive Pioneers: the segment of consumers who experiment with and rely on technology the most.

They also have the greatest expectations for seamless digital experiences, demonstrate the most comprehensive information consumption skills, and have a strong go-getter attitude. The rise of these empowered customers is forcing the best firms to rethink their fundamental operating principles in order to become customer-obsessed. These businesses are customer-led, instead of just customer-aware; they are driven by insights, not data; they prefer speed over efficiency; and they are connected rather than operating in silos.

Forrester says it spoke to dozens of its expert analysts, examined 31 of its TechRadar reports, and interviewed external subject matter experts in the search for the most important emerging technologies – and chose only technologies that will have a significant business impact within the next five years.


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Peter Dinham

Peter Dinham - retired and is a "volunteer" writer for iTWire. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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