Systems Of InsightUnlocking Value From Big Data

@practicingea #SystemsOfInsight

Brian Hopkins, VP and Principle Analyst

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Forrester’s Customer Experience IndexTurning consumer opinion data into insight

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Great customer experiences pay off

-20%

0%

20%

40%

60%

80%

100%

-3%

51%

78%

Forrester’s Customer Experience Index (CX Index™) mapped to stock performance over the past 7 years

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“We are drowning in data

and starving for insight.”

— Global Bank

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Big data promises more insight

77% - use big data to improve

customer service.

87% - investing in a data hub or

lake.

80% of Indian business say improving CX is a top priority

Source: 331 Indian data and analytics decision makers

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Surely businesses will be able to…

Understand individuals.

Understand usage.

Anticipate problems.

Understand behavior.

Contextually relevant experiences.

Optimize product targeting.

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“You’ve got to start with the customer experience and work backwards toward the technology — not the other way around.” Steve Jobs Apple Worldwide Developer Conference, 1997

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Data driven won’t create great customer experiences…

…more insight won’t either!

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Huh?!!!

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We’ve been solving the wrong problem

Too much data

“All the data we need will never come from one place. There is too much of it.”

Carlo Torinai Data ScientistTesla Motors

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We’ve been solving the wrong problem

Not enough action

“Data scientists are great at finding insights, but it’s hard to keep them focused on the the outcomes our business needs.”

Assad ShaikChief Data Scientist

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Learnings

Digital insights

Insight masters talk a different language

PossibleData

Possible actions

Rightdata

Effectiveactions

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It’s not technology…

…it’s a way of doing business.

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Stich Fix wants to disrupt retail

›Clothes show up at your door

› Two way learning between models and humans

›Constant controlled experimentation

› From recommendations to an way of doing business

› The result: disruptive reimagining

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The business discipline and technology to harness insights and

consistently turn data into action

We call this new way “systems of insight”

#SystemsOfInsight

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Systems of Insight deliver action

Test insight for value

Deliver at point of decision

…in software

Close the loop

#InsightsToExecution

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3 Differences

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#1 – It is a holistic system to connect data and action

All Data PossibleActionsInsights-to-execution

process

Insights team

Digital insightsarchitecture

Rightdata

Effectiveactions

Business leader Manages the team to optimize a specific business outcome

Technology leader Responsible for insights testing, implementation, and architecture

Domain experts Recognizes insights worth the investment

Developers Test and implement insights in software and business rules

Data scientists Build models and exercises them to reveal potential insights

Data engineers Gathers, assesses, integrates, prepares, and manages data

#2 – They are operated by #InsightsTeams

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#3 – They run on a digital insights architecture

Insights-driven applications

Insight Fabric

Data

FeedExecution

engines

Insight discovery and

implementation tools

Collaboration and governance

tools

#DigitalInsightsArchitecture

Tesla’s driving experience is powered by insight

› Fix problems before they impact CX

› Team working towards common outcome

› Insights services let engineers find and test insights.

› Developers implement insight in firmwarePipeline

Insights services

Engineers Firmwaredevelopers

Data scientists

Data engineers

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Systems of insight will power digital engagement

People

World Trans-action

Systems of insight power

digital business

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Change your vocabulary

From “data driven”

To “insights-driven”

#SystemsOfInsight

#InsightsTeams

#InsightsToExecution

#DigitalInsights

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Losers Data remains ‘Balkanized’ Supply side thinkers Enterprise software

Systems of insight will redefine business

Data-driven

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Winners

Embed insights into every experience

Products to insights driven services

Ecosystem builders

Systems of insight will redefine business

Insights

-driven

forrester.com

Thank youBrian Hopkins@practicingea