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August 31, 2013 in Big Data, Business Analytics, Business Collaboration, Business Intelligence (BI), Business Mobility, Business Performance Management (BPM), Cloud Computing, Customer Performance Management (CPM), Financial Performance Management (FPM), Governance, Risk & Compliance (GRC), Information Applications (IA), Information Management (IM), IT Performance Management (ITPM), Location Intelligence, Operational Intelligence, Operational Performance Management (OPM), Sales Performance Management (SPM), Social Media, Supply Chain Performance Management (SCPM), Workforce Performance Management (WPM) | Tags: Agility, Analytics, Big Data, Business Analytics, Business Intelligence, CIO, Cloud Computing, Collaboration, Contact Center, Customer, DataMeer, Datawatch, ESRI, Financial Management, Globoforce, GRC, HCM, HortonWorks, IBM, Informatica, Information Builders, Information Management, Information Optimization, Information Technology Leader, IT Analytics or Performance, Johnson Controls Panoptix, Kronos, KXEN, Kyriba, Location Analytics, Marketing, mobile, NetBase, Office of Finance, Operational Intelligence, Oracle, Overall Operational Leadership, Peoplefluent, Planview, Roambi, Sales, Service & Supply Chain, Social Media, SQLstream, Sustainability, Upstream Works, Vertex, VMWare, VPI, Xactly Corporation | by Mark Smith | Leave a comment
In the realm of technology that matters for business and IT, our firm as part of our responsibility continually assesses the latest technology and how it can impact organizations’ efficiency and effectiveness. Our benchmark research in technology innovation found that 87% of participants indicated the importance of increasing the organization’s value through technology innovation. Every year we take our knowledge from research and technology briefings to focus on our Technology Innovation Awards and determine the vendors and products that have the potential to drive change in the market, the competitiveness of an organization’s business and sometimes just how efficiently a company operates. Our firm believes that Innovation can come from any size technology vendor from the smallest to the largest that are measured on a spectrum of attributes that contribute to the specific impact of the technology.
Our process with the Technology Innovation Awards is to separate out and find the vendors and products that have innovative technology that has the most potential and might be game changing or what might be just a necessity for organizations to use to compete in the market. We methodically assess and score those technologies according to more than 26 categories, and then rate and validate within each category to determine the winner of the Technology Innovation Award. Our methodology looks at the relevance of key aspects of technology, including people, processes, information and technology, along with any best practices for applying the technology and the resulting potential impact and benefits to organizations. To apply an additional lens on the technologies being assessed we also employ the technology evaluation categories (functionality, capability, reliability, manageability, adaptability, TCO and ROI, and vendor validation) that we use to methodically assess vendors and products in our Value Indexes. This year we have kept a closer eye on usability of technology and where it can have use across a larger number of individuals in an organization or easier to use for a specific set of people or department, as our research found that usability had the highest level of importance for technology and vendor consideration in 64% of organizations.
Our award categorization makes it self-evident where the technology is relevant and is part of our research focus that is built around innovative technology, as I previously outlined. In the end our Technology Innovation Awards are not just about being a cool vendor but about having innovative technology in either a shipping product or one coming to market in the near future that is worth recognition.
According to our research, almost half of organizations (49%) are planning to change the way they assess and select innovative technology for business and IT through 2014. With that backdrop let me introduce you to the Technology Innovation Award recipients for 2013 so you can see for yourself what technologies could change how your organization operates significantly.
- Big Data: Hortonworks for Hortonworks Data Platform 2.0
- Business Analytics: Datameer for Datameer v3.0
- Business Collaboration: Peoplefluent for Peoplefluent Social Collaboration
- Cloud Computing: VMware for VMware vCloud Hybrid Service
- Mobile Technology: Kronos for Kronos Mobile
- Social Media: NetBase for NetBase Social Media Management Systems
- Office of Finance: Vertex for Vertex Enterprise
- Financial Management: Kyriba for Kyriba Enterprise
- Governance, Risk & Compliance (GRC): IBM for IBM Algorithmics
- Human Capital Management: Oracle for Fusion Human Capital Management
- Sustainability: Johnson Controls Inc. for Panoptix
- Overall Operational Innovation: Globoforce for Globoforce
- Contact Center: Upstream Works for Finesse by Upstream Works
- Customer: VPI for VPI VirtualSource
- Marketing: KXEN for KXEN InfiniteInsight
- Sales: Xactly Corporation for Xactly Objectives
- Service & Supply Chain Excellence: Agility for Agility Multichannel
- CIO: Planview for Planview Enterprise 11
- Overall IT Leader: Datawatch for Datawatch Panopticon
- Analytics: IBM for IBM SPSS Catalyst
- Business Intelligence: Roambi for Roambi Business
- Information Optimization: Informatica for Informatica Vibe
- Information Management: Information Builders for iWay 7
- IT Analytics or Performance: SQLstream for SQLstream s-Server, s-Cloud, s-Analyzer and s-Transport
- Location Intelligence: Esri for Esri Maps
- Operational Intelligence: IBM for InfoSphere Streams v3.1
If you want to learn about technology innovation and see examples including from ones that received a Technology Innovation Award, come to our Technology Innovation Summit. At the summit you’ll learn why it’s critical to assess innovation and look beyond what you are doing today to determine where you can make changes to drive improvement. Our research found that organizations are changing the way they evaluate innovation technology mostly to drive business improvement initiatives (60%) and improve the quality of business processes (57%). If you want advice or guidance to help you leverage technology innovations, just let me know, as we are always happy to help organizations be smarter and faster.
Congrats to this year’s award recipients for innovations that are worthy of our recognition and your time to see where they might help your organization.
CEO & Chief Research Officer
May 3, 2012 in Business Analytics, Business Collaboration, Business Intelligence (BI), Business Mobility, Cloud Computing, Customer Performance Management (CPM), Financial Performance Management (FPM), Governance, Risk & Compliance (GRC), Operational Intelligence, Operational Performance Management (OPM), Sales Performance Management (SPM), Social Media, Workforce Performance Management (WPM) | Tags: 360-degree view of the Customer, Agent Performance Management, Call Center, Cloud Computing, Contact Center, Contact Center Analytics, CRM, Customer Analytics, Customer Experience Management, Customer Feedback Management, Customer Service, Desktop Analytics, Interactive Intelligence, NICE Systems, Predictive Analytics, Social CRM, Speech Analytics, Text Analytics, Unified Communications, Voice of the Customer, Workforce Management | by Mark Smith | 2 comments
I attended NICE Systems’ annual Interactions (Twitter #Interaction2012) conference in Nashville to get the latest from this growing global software business that focuses on customer-centric applications. If you have not heard of NICE you might not be primarily involved in managing and interacting with customers, the area in which NICE has been growing organically and by acquiring technology providers that complement its existing portfolio. As we discussed in recent analyses, and NICE acquired Merced Systems for its sales- and service-centric performance management applications and Fizzback for customer feedback management software. Both have helped it become a more strategically focused software business. NICE Systems targets enterprise contact centers as well as financial risk, compliance and security. NICE makes its applications available not just on-premises but also in software as a service and hosted environments.
NICE offers a range of customer experience management applications: the agent desktop, customer feedback management and multichannel customer analytics across data, speech and text; agent performance management; interaction and communication technologies and broader customer and contact center analytics. Its contact center and overall workforce optimization suite enhances efficiency and intelligence in contact center operations and customer interactions. At the conference NICE announced a new class of cross-channel analytics-driven customer interaction applications that help personalize interactions to produce efficient and positive customer experiences. In the software, decisioning technology is combined with process management to guide agents as they respond to customer needs across any channel, from the Internet to the phone to retail locations. One way NICE does this is by using speech analytics to determine prompts to agents. Though the industry has been slow to adopt this approach, it is helping NICE customers improve the quality of customer service and resolve more issues on the first contact, which continues to be a top metric to manage agent efficiency and can help improve customer satisfaction.
The use of analytics is essential to identifying customer service improvements, according to 58 percent of organizations in our customer relationship management maturity benchmark research. Analytics works much better than spreadsheets, which are still used regularly or universally by almost two-thirds of contact centers according to our contact center analytics benchmark research. I expect to see NICE find ways to use predictive analytics to further fine-tune the information provided to agents.
NICE has not missed the rise of mobile technologies like smartphones and tablets in business. It announced a new solution called Mobile Reach that can provide quality customer interactions via smartphone. Instead of needing to call in to a contact center, customers can initiate real-time interaction from their smartphones to a center, where an agent can access customer information to respond to their needs. Agents can receive camera photos from customers and use real-time chat. An agent can help a customer to resolve some issue or locate the closest retail or service location. This advance in technology is impressive, and I expect NICE to offer similar or more support for tablets such as Apple’s iPad that has become a primary device for mobile commerce. It already provides analytics on tablets for assessing sales and customer service, and previewed new customer service management capabilities at the conference.
NICE also goes beyond these areas and helps in the back office with applications to manage the workforce, desktop processes, performance and quality assurance. I had a chance to review its process and task management software, which has the intelligence to spot where workers are not fulfilling their responsibilities. Organizations can apply the task monitoring technology to customers’ activities on their websites, and can be capture and replay it in what NICE calls interaction recording. I was impressed in the demonstration by how easy it is to identify issues and perform rapid root-cause analysis.
One of the key efforts in customer feedback management, as my colleague Richard Snow states, is for businesses to hear the voice of the customer. VOC addresses direct and indirect channels across the Internet, such as social media. NICE announced further integration of the Fizzback technology; now contact centers can have any call or digital interaction dynamically invoke a feedback suggestion to make it easier to respond. Even more useful is the ability to have a manager actually listen to the customer interaction to assess any issues and then provide coaching where needed. This information can be essential to improving customer experience processes, which 59 percent of organizations have determined is a critical benefit of using feedback management. NICE was also demonstrating how it can take sentiment about a brand on social media, since analysis of this communication channel is already deployed in one-quarter of organizations and its use is the second highest priority in 19 percent of customer service organizations, according to our customer relationship maturity research. It also demonstrated where interactions started from social media can be part of a contact center or even marketing organizations operations. The ability to learn from social media interactions will be critical, as 89 percent of organizations already have a presence on Facebook, 68 percent on Twitter and 57 percent on LinkedIn according to our research.
At the conference I presented a session on establishing high-performance contact centers by using customer relationship maturity strategies, optimizing agent performance and productivity, utilizing analytics for contact centers, embracing social media for contact centers and understanding voice of the customer’s impact to customer experience. If you want a copy of the presentation, click here. It was great to have our Ventana Research Leadership Award winner for 2011 in contact center category, Alliance Data, in the audience, too!
NICE’s new generation of customer- and agent-focused applications aims to optimize the customer experience. The company’s applications and technology portfolio are significantly ahead of those currently installed in most customer service organizations, which should provide it plenty of room to grow. Its intelligent use of analytics drives more effectiveness in customer interactions by improving agents’ performance. NICE has demonstrated its ability to acquire companies and integrate their products efficiently, leveraging both products and people to its advantage. It also partners with the likes of IBM, Cisco and even Five9 to enhance the contact center technology ecosystem. The largest challenge for NICE is to promote awareness of what it provides and what is possible with its technology. It will need to expand its market education efforts to explain how it helps the largest businesses change the way they operate in a more significant manner than previous CRM efforts. It will probably need to build some type of center of excellence and demonstrate what contact centers should strive to be over the next five years. I hope to see more chatter about NICE across social media on the part of organizations that wish to make substantive improvements to their contact centers and promote intelligent interactions with customers.
Mark Smith – CEO & Chief Research Officer