Companies are constantly gathering data — but no one has perfected the insights-driven action that should be the output of data collection. Big data is, in many instances, exacerbating the situation for companies that are failing to execute on the data they already have on hand.
One global bank summarized the challenge Forrester is seeing with many of its clients: “We are a company with so much data but very little insight, even with all the tools and capabilities in place. We are literally drowning in data and starving for insight.”
This new Forrester report introduces systems of insight, the business discipline and technology needed to draw insights from data and consistently turn it into action. Forrester found that digital firms and a handful of progressive enterprises are already implementing these systems. Companies that are able to implement systems of insight will improve customer engagement by enabling contextual marketing, creating mobile moments, and shaping digital experiences.