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Adding geographic and location context to business information enables organizations to develop fuller understanding and optimize the activities of people that use the information. We call this location intelligence, and to achieve it requires location analytics, which focus on that context where the processing and presentation of geography and spatial aspects of data are utilized. Analysis of geographic information can provide business insights that help organizations make better business decisions. I have written about this new generation of location analytics previously and noted that it can provide fresh analytic perspectives on information collected and integrated from in-house applications and across the Internet.

In our latest benchmark research on location analytics two VentanaResearch_LocationAnalyticsout of five (41%) organizations said it is very important to have information about location to improve processes and performance. Participants in business roles (51%) insisted more on its importance than did those in IT (30%); this difference indicates the importance of location to business professional to improve activities and processes they are responsible for improving. However, the research also shows that most businesses aren’t taking advantage of this enhanced perspective. Our Performance Index analysis found the largest percentage (29%) of participants at the lowest Tactical level of location-related performance. Almost all organizations have room for improvement: Only 12 percent said they are very satisfied with the available location information and analytics. Similarly only 15 percent are very confident in the quality of their location information.

vr_LA_location_analytics_requires_experiencesBringing a new perspective, location analytics requires familiarity to deliver benefits. Users that are very experienced in location analytics most often said it has significantly improved the results of their activities and processes (62%), compared to 23 percent of those who described themselves as experienced. To achieve this value organizations must invest in skills and knowledge of this domain for their analysts and tools that can help them derive value from this type of information.

As with other new areas of technology and analysis, to improve effectiveness using location intelligence will require a business case for investment. Our research found several barriers to building the case: lack of resources and lack of awareness (each cited by 41%), no budget (33%) and the business case not being strong enough (30%). While training and understanding of the potential of location intelligence are essential, some decision-makers need better examples of its use in terms of business results to make it an investment priority. In this regard organizations said the most important factors are to increase speed of response to customers, improve the quality of business analysis and decisions, and increase the accuracy of information. Nearly all that have adopted location intelligence said this focus has improved the organization’s processes significantly (40%) or slightly (56%).

The research found several key business areas in which value can be found. Improving customer relations is a significant driver for change: Two-thirds (68%) of organizations using location analytics and a customer focus will be changing the way they use it in the next 12 to 18 months. A focus on customers is a natural use of location analytics; our research shows that for more than one-third (37%) of organizations it is the type of information for which location is most important. The benefit most often ranked first by those analyzing customer data is to improve the customer experience and customer satisfaction (20%). But customer facing areas are not the only place to apply location analytics that can be especially useful in areas: optimizing sales efforts for territory management, identifying fraud for risk mitigation, optimizing routes and customer interactions across field service, routing optimization for distribution and warehouse management for supply chain management or identify best markets for advertising effectiveness.

The emphasis on location analytics by the lines of business vr_LA_location_analytics_improves_resultsappears again in funding for initiatives. It comes not just from the general IT budget (40%) but also from the business technology budget (31%) and the business budget (28%). And the investments pay off. Those that have invested in location analytics have improved the results of their activities and processes significantly (34%) or slightly (51%). Business people, who are better-positioned to see the benefits, indicated significant improvement three times as often (48%) as did IT staff (16%).

Analysts in the lines of business should assess their existing efforts and determine how the use of location analytics could improve the results they provide to decision-makers. One key tool for this is visualization through maps, which can provide more intuitive presentation of information than more general visualization. Simplifying the presentation of location information and making it easier to identify insights are essential for business professionals, who should not have to be trained to see the insights. Location Analytics is more than just a map and pretty picture, but a method to process data to get information for delivering geographic insights that are actionable and impactful to business. Organizations not yet taking advantage of this valuable supplement to their business information should evaluate it.

Regards,

Mark Smith

CEO & Chief Research Officer

In the near future, technology will be something we wear or attach comfortably to our bodies. Wearable computers have been evolving for some time, and while that might seem futuristic to the uninformed, VRLogobug400x400in the technology industry it is rapidly becoming real. This trend is important for businesses to note, as our business technology innovation research shows that it is very important to more than half (56%) of organizations to find methods to use technology innovation to support both business processes and their people. Mobile technology is the third-most important innovative technology, after analytics and collaboration, and innovators will use all three together. Many organizations focus on acquiring and retaining the best possible workforce, which after all is their most valuable asset.

This is the context for wearable computing, a new kind of miniaturized mobile technology that can receive input and communicate with other Internet-enabled technology and even users in various ways. The first generation of tools is now available for purchase, taking the hyperbole about the Internet of Things closer to practical reality. We can’t teleport like Captain Kirk in Star Trek, touching his uniform sensor and saying, “Beam me up, Scotty,” but less fantastic wearable communication devices are here: Internet-enabled and connectable watches and glasses that make it possible to get information and respond to others readily. A bit farther out in the future of embedding computing in clothes is a new science called e-textiles and smart fabrics, which will also extend the potential for helping us work and communicate.

Internet-enabled bracelets and attachable technology eventually will be as small as earrings or a business card, but the first options, now available, are glasses and watches. Google Glass made its debut, but it is really for the technological elite who can afford it. Google is rumored to be planning to scale up production of the glasses, but Internet-enabled watch production is moving forward more rapidly. Following on the evolution of smartphones is the smartwatch, which are already in market and more will be coming out this year from technology manufacturers LG, Samsung and others. This will change the nature of a watch from a timekeeper to an informative device that can provide as well as situational alerts and weather updates help with business tasks and communication with customers. It’s not hard to imagine, after further investment, workforce notifications like time-off approval or analytic indicators being exchanged through smartwatches. This leap forward has been gathering strength since the 1980s, believe it or not, and has been revived as the Internet and smartphones enable monitoring of wellness and physical activity.

In fact, the most immediate value of wearable computing probably is in wellness; basic activity-tracking technologies are mainstream. As the technology advances, information will be more readily accessible through the Internet to the individual wearer or perhaps even to employers to track the health of their employees in high-risk work environments. As well as health monitoring and advances in the medical and healthcare industries in what’s called the body-area network, there are other aspects of activity tracking for work through wearable computing.  It can track the daily aspects of workforce management and even for labor regulations where the physiological well-being of employees is critical; miniaturized sensors can detect body temperature, pulse and other cognitive indicators. At some point sensors to monitor dangerous environmental elements such as gases or poisons will save lives. All of these innovations hold great promise of value for both individuals and the businesses they work for to provide confidence in safety and employee satisfaction.

While many of the foundation aspects of activity and physiological monitoring have been available for some time, it’s now becoming cost-effective for mass consumption. The most prevalent vr_HCA_10_data_types_used_in_human_capital_analyticsproducts are those that track walking, exercise and sleep patterns, from FitBit, Jawbone, Nike and others. And there are small devices like Misfit that can be worn as jewelry or carried in a pocket. While there have been instances of some of these devices causing irritation because they must contact the user’s skin to detect physiological activity, we expect these issues to be resolved soon. These popular items also can connect to applications on Apple and Android devices to provide status updates and other information about the wearer’s health. The information from these devices can be made accessible to employers that have wellness campaigns to engage the workforce and encourage people to be more fit and able to work. Our research in human capital analytics shows that people-related metrics are the first-ranked priority for 34 percent of organizations and that being able to get employee data is the most important to three out of four (76%); this has implications for the use of activity-monitoring data. Of course, this kind of use brings up privacy issues that have yet to be addressed but are no different than other devices used like smartphones and tablets except that now we might have more personal or body related information.

I hope this begins to show why all of us should pay attention to the arrival of wearable computing. This business technology trend will not show up in the IT priority list and probably not from conventional wisdom approach by IT analysts as they are not researching or engaged to business needs for technology but no worry as the relevance of it should not be underestimated. Used properly this new type of technology could help workforces be more productive and engaged and enable employers to receive and provide at a moment’s notice relevant environmental and physiological information based on the individual’s location and situation. The collaborative aspect of wearable computing is a key challenge that must be met to ensure that communications are streamlined and features of other technologies are incorporated. For example, wearable computing will be even more engaging when it includes the speech capabilities of smartphones. And with the growth in volumes of data, aspects of big data and analytics will be essential to optimize the information communicated through wearable computing.

These technological advances are part of the future of human capital management and included in our research agenda for this year but is just as important to the specific needs of sales, service., manufacturing, supply chain, operations and other business roles in an organization. Our technology innovation research identifies business improvement and improving the quality of business processes as driving examination of new technologies in more than half (57%) of organizations. In addition, the research shows organizations that are advancing in their use of the mobile technology experience benefits such as better communications and knowledge sharing in 62 percent of organizations; this suggests that, like other mobile devices, wearable ones can contribute to building a more engaged and satisfied workforce. This innovation provides new opportunity for organizations seeking a competitive edge and retention and productivity in its workforce. It will be a fascinating trend to follow, and we will be watching it closely.

Regards,

Mark Smith

CEO & Chief Research Officer

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