2. WEBINAR The Rise Of Insights Services
Jennifer Belissent, Ph.D., Principal Analyst
March 10, Call in at 10:55 a.m. Eastern time

4. “We’re drowning in data and starving for insight.”
— Business manager, large multinational bank

5. Agenda
Devices to data
Insights to innovation
Mind the gaps.
Introducing insights services

6. We live in a world where everyone . . .
. . . and everything is connected.

7. But it’s not about connectivity; rather, it’s all in what you do with it
Smart farming
Smart health
Customers demand more.
Smart transportation

8. Innovate in the age of the customer
Source: “Drive Insights To Innovation” Forrester report

9. How to innovate? Technology
“You said improving your ability to innovate was an important initiative. What actions is your firm currently taking or planning to take to accomplish that?”
Source: “Drive Insights To Innovation” Forrester report

10. Which technology? Data and analytics
“Which of the following technology initiatives is your IT organization prioritizing over the next 12 months?”
Source: “Drive Insights To Innovation” Forrester report

11. Data and analytics are all the rage
65% of firms will be using big data analytics to optimize digital experiences.
49% of firms view improving the use of data and analytics as a business priority.
45% of firms have appointed a chief data officer.
Base: 3,005 business and technology decision-makers; Source: Forrester’s Global Business Technographics® Data And Analytics Survey, 2015

12. But most firms don’t consistently turn data into action
73%
29%
of firms aspire to be data-driven.
of firms are good at turning data into action.
Source:  Forrester’s Q Global State Of Strategic Planning, Enterprise Architecture, And PMO Online Survey

13. Tech teams struggle to provide advanced data and analytics services
Source: ”Insights Services Disrupt The Data And Analytics Market” Forrester report

14. Many decision-makers are increasingly dissatisfied with analytics
“What is your level of satisfaction with analytics in your company?”
21% decrease
Base: 1,200 and *595 global data and analytics business decision-makers; Source: Forrester’s Global Business Technographics® Data And Analytics Survey, 2015 and Forrester’s Business Technographics Global Data And Analytics Survey, 2014

15. Mind the data maturity gap
“What are/were the biggest challenges in executing your vision for big data?”
Source: “Top Performers Appoint Chief Data Officers” Forrester report

16. Data skills are hard to find
74%
say that they are hiring or planning to hire in the next 12 months. Only 8% say they are not interested in hiring people with advanced data skills.
And, bringing them onboard isn’t easy.
54%
report doing a good job attracting, hiring, training, growing, and retaining their data and analytics talent.
Source: Forrester’s Global Business Technographics® Data And Analytics Survey, 2015

17. Insights services provide a new path
How to fill
the skills gap?
Insights services provide a new path

18. Data and analytics already top services engagements . . .

19. But in a world that’s moving faster and faster . . .

20. . . .insights services answer urgent questions.
Where should I locate my next franchise or real estate purchase?
Whom should I target for my next marketing campaign?
How can I best route my shipments to reach my final destination in time?
Which price adjustment will result in the greatest lift-to-sales revenues?
Which patients will react most positively to a specific medical treatment?

21. “We are in the business of building fast-moving consumer goods, why would we build this [insights platform] out ourselves?”
— chief analytics officer, global CPG

22. Insight services extend outsourcing across and up the data value chain
Insights services
Outsource
Deployment options
Host
Build
Data management
Collect and store
Data governance
Clean and secure
Data analytics
Discover and analyze
Data insights
Act and automate
Data value chain
Source: “Insights Services Disrupt The Data And Analytics Market” Forrester report

23. From business problem through data and analytics to action support
Source: “Insights Services Disrupt The Data And Analytics Market” Forrester report

24. Insights services providers offer a holistic approach
Source: “Insights Services Disrupt The Data And Analytics Market” Forrester report

25. Insights services providers offer function-specific expertise
Telco
Customer journey
Network management
Pricing and bundling
Manufacturing
Process optimization
Predictive maintenance
Supply chain optimization
Healthcare
Patient journey
Employee scheduling
Personalized medicine
Financial services
Customer journey
Risk and compliance
Inventory optimization
Fraud management
Retail
Inventory management
Merchandising
Employee scheduling
Pricing and mark downs
Source: “Vendor Landscape: Insights Services” Forrester report

26. Pricing models offer flexibility — and build trust
Cost-plus pricing
Value-based pricing
Hourly pricing (time and expense)
Fixed pricing — project or retainer
Compute-based pricing
Data volume pricing
Performance- or outcome-based pricing

27. How to get started Determine objectives, strategies, and priorities.
Implement multidisciplinary insights teams across all relevant organizations.
Establish a coordinated hub-and-spoke insights organizational structure.
Consider the role of a chief data officer to coordinate data and analytics capabilities and competencies and drive cultural awareness.
Seek help from an insights services provider.

28. Jennifer Belissent, Ph.D.