In order to better understand what actionable insights are, it’s important to understand the subtle differences between these key analytics terms.Īs an example, my Fitbit watch gives me all kinds of activity data: steps, BPM (heart beats per minute), miles, calories and so on. There’s actually a hierarchy pyramid with data at the foundation, information in the middle and insights at the pinnacle. Data, information and insights are not synonyms. Often what is really being offered by many analytics solutions is just more data or information-not insights. While the promise of actionable insights is alluring, I’m concerned that the phrase is fast becoming an empty buzzword as it is being overly misused by technology marketers. Actionable insights appear to be the missing link for companies that want to drive business outcomes from their data. Forrester reports 74% of firms say they want to be “data-driven,” but only 29% are actually successful at connecting analytics to action. With many companies struggling to make sense of their data and create value with their big data investments, the promise of actionable insights sounds wonderful. For instance, there are new laws that could come online in the US, and there may be enhancements to GDPR on the way.If you’ve read the marketing collateral from any analytics or business intelligence vendor, you’ve no doubt come across the phrase “actionable insights.” Every analytics or business intelligence solution promises to unlock a tidal wave of them for your business-maybe even in “real-time” if you’re lucky. Among the forces acting on this trend are the possibility of new privacy laws in 2023. What’s Coming in Data Privacyįorrester is predicting that “we will do less data collection and more listening” when it comes to privacy. “They’re going to take a hit in terms of their willingness to give you 100% of themselves and do the best work that they’re capable of for you.”įorrester is predicting that 65% of companies will be hybrid and 15% will be fully remote. From a psychological perspective, autonomy is the strongest motivator, an intrinsic motivator,” he said. “If you force people to work in a way that is not really what they want, that’s an assault on their autonomy. That seems like the setup for some kind of showdown coming. “We’ve got 68% of employees who can work remotely saying they want to continue to be able to do that as we move past the pandemic, but yet we have half of executives that are leading these hybrid companies saying they want to leave their options open to pull that back.” They are going to experience something that they’re going to regret from making the decision,” said Brodeur-Johnson. Forrester is predicting that 90% of executives that try to force their hybrid workers to return to the office will “completely fail.” There are many conflicting signals in the return-to-office movement as many organizations look to implement a hybrid schedule. That means enterprises themselves will need to invest in order to integrate multiple solutions, according to Forrester VP and Research Director Mike Proulx, who leads the firm’s chief marketing officer research team. Meanwhile, the cost of marketing technology (martech) will increase by 20% in 2023 because there will be fewer end-to-end providers and more specialists. Even as they do so, Ivy-Rosser recommends leaders “Choose pragmatism over fear.” Forrester predicts that 80% of companies will shift their innovation spending from creativity to resilience, according to Forrester VP and Research Director Linda Ivy-Rosser. Where to SpendĪs organizations face a possible recession, they are likely looking to all the items they can cut in their budgets, not just employee headcounts. “You’re switching to a Jekyll and Hyde and becoming a completely different type of persona as an employer, that's going to be a big deal and people are going to notice that and there's going to be long-term implications for that,” said David Brodeur-Johnson, principal analyst covering the future of work.
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