Forrester forecasts that 40 insights-driven public companies and a horde of insights-driven startups are on track to grow from $333 billion in revenue in 2015 to $1.2 trillion in 2020. This new kind of company harnesses digital insights to optimize products, services, and operations and will grow at least eight times faster than global GDP, or 27% annually, and the startups will grow 40%.
“These firms teach valuable lessons in culture, process, talent, teams, and technology,” Forrester analyst Ted Schadler writes in the new report. “If your executives have the willpower, you can become insights-driven as well. But change must start at the very top and penetrate to the DNA of your business, or you won’t succeed. This is a tall order, but insights-driven competitors leave you no choice.”