Mark Smith's Analyst Perspectives

AI in Business: Hypocrisy and Opportunity

Posted by Mark Smith on Jun 6, 2018 8:17:26 AM

We now are well beyond the year depicted in 2001: A Space Odyssey, a cinematic perspective on the future of artificial intelligence in which HAL 9000, a computer, is able to simulate human behavior and control machines. Anyone reviewing the past two years of marketing around AI in the business technology industry can be forgiven for believing that we have arrived at the futuristic state Stanley Kubrick imagined. We have not.

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Topics: Big Data, data science, Mobile, Customer Analytics, Customer Engagement, Customer Experience, Machine Learning, Mobile Technology, Wearable Computing, business intelligence, Analytics, Cloud Computing, Collaboration, Customer Service, Data Governance, Data Integration, Data Preparation, Internet of Things, Contact Center, Information Optimization, digital technology, Machine Learning and Cognitive Computing, Cybersecurity, Billing and Recurring Revenue, Workforce Optimization, collaboration for business

GDPR: Business or Technology Vendors Ready or Not?

Posted by Mark Smith on May 11, 2018 8:36:25 AM

We are have arrived at the May 25, 2018 date when the European Union’s General Data Privacy Regulations (GDPR) become enforceable, following what has been a two-year transition period. Companies were given this time to put in place reasonable measures and the systems necessary to support the legislation’s wide-ranging personal data privacy requirements, which apply to any organization with more than 250 employees that serves EU citizens. While this regulation will apply in the EU, it has implications for any organization in the world that provides services involving the personal data of any EU citizen.

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Topics: Big Data, data science, Mobile, Customer Analytics, Customer Engagement, Customer Experience, Marketing, Analytics, Business Intelligence, Cloud Computing, Collaboration, Data Governance, Data Integration, Data Preparation, Internet of Things, Contact Center, digital technology, Digital Marketing, Digital Commerce, Cybersecurity, Billing and Recurring Revenue, collaboration for business, mobile marketing

Beyond Digital Transformation: Effective Technology Innovation in 2018

Posted by Mark Smith on May 7, 2018 12:55:31 AM

Advancing the potential of any business requires continuous improvement in the processes and technology that support it. Many companies have embraced attempts at a digital transformation, and it’s become a goal to which organizational resources and budgets have been dedicated around the globe.

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Topics: Big Data, data science, Mobile, Sales, Customer Analytics, Customer Engagement, Customer Experience, Human Capital Management, Machine Learning, Marketing, Marketing Performance Management, Mobile Technology, Office of Finance, Wearable Computing, Analytics, Business Intelligence, Cloud Computing, Collaboration, Customer Service, Data Governance, Data Integration, Data Preparation, Internet of Things, Contact Center, Information Optimization, Product Information Management, digital technology, Digital Marketing, Digital Commerce, Operations & Supply Chain, Machine Learning and Cognitive Computing, Pricing and Promotion Management, Cybersecurity, Billing and Recurring Revenue, Workforce Optimization, collaboration for business

Broken Analytics and BI? Natural Language and Notifications Can Help

Posted by Mark Smith on Jun 15, 2017 11:43:52 PM

If we look at the focus of technology vendors for analytics and business intelligence or business applications providers deploying these capabilities in the last five years, we see that they have elevated the importance on the value of visualization and dashboards. These promotions might be understandable, but will they make business and the people using them more intelligent?

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Topics: Big Data, data science, Mobile, Machine Learning, Analytics, Business Intelligence, Cloud Computing, Collaboration, digital technology, Machine Learning and Cognitive Computing

Salesforce Fails Again in Customer Experience

Posted by Mark Smith on Jun 14, 2017 2:02:52 AM

More than a year ago I wrote from personal experience about the challenges our firm encountered with Salesforce’s cloud computing systems and customer service and if we can trust them for business in the cloud. That perspective covered a range of issues that the behemoth cloud computing applications and platform company is facing regarding its service and technology. While Salesforce has shifted its customers like us and others to a different cloud computing environment, as it did in moving us off its #NA14 cloud computing instance, core challenges of its customer experience and billing processes persist. After the last customer experience incident, I contacted its executives about the need for operational improvement; it was clear in the dialogue that they saw some but not all of our experience as issues important to improving its customer processes. It was good to get some immediate attention, but my hope was to speak for all SMB companies in pointing out the importance of effective communications and escalating notifications and interactions when those customer moments go sour, so the customer isn’t forced to turn to social media to be heard. This was an area where Salesforce had significant room for improvement in customer engagement, reflecting a pattern we see in our benchmark research, which finds the most common challenges in almost half of organizations are integration of channels of engagement and managing activities as silos.

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Topics: Big Data, Sales, Office of Finance, Analytics, Cloud Computing, Collaboration, Product Information Management, Sales Performance Management, Digital Commerce, Sales and Operations Planning, Machine Learning and Cognitive Computing, Sales Enablement and Execution, Machine Learning Digital Technology, Sales Planning and Analytics

Compensation Management Software Vendors Evaluated in Value Index

Posted by Mark Smith on May 22, 2017 8:22:32 AM

Compensation and the processes and systems to support it are at the center of success in every organization, as I have noted recently. In our view, an investment in total compensa­tion management software is a strategic step toward advancing human capital management. Our benchmark research on this topic found some prog­ress in attitudes about mod­ern­izing compensation practices. Almost three-fourths (72%) of organizations said that it is important or very important to have a total compensation management system rather than a piecemeal approach. Moreover, nearly half (49%) told us they are confident or very confident that their organization currently manages its compensation processes effectively.

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Topics: Human Capital Management, Office of Finance, Learning Management, HRMS, Workforce Management, Work and Resource Management, ERP and Continuous Accounting, Payroll Optimization

Supercharge Sales Analytics with Digital Technologies

Posted by Mark Smith on May 12, 2017 8:44:14 AM

Our firm regularly explores the impacts of new technologies on business. Analytics is foremost among recently emerging technologies, which our benchmark research consistently confirms. In our research on next-generation sales analytics, fourth-fifths (82%) of participating organizations cited analytics as the most important technology trend for sales; however, several other technologies also are adding power and flexibility to the use of sales analytics.

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Topics: Big Data, Sales, Mobile Technology, Office of Finance, Analytics, Cloud Computing, Collaboration, Product Information Management, Sales Performance Management, Digital Commerce, Machine Learning and Cognitive Computing, Sales Enablement and Execution, Machine Learning Digital Technology, Sales Planning and Analytics

Prepare and Wrangle Data for Sales Analytics

Posted by Mark Smith on May 5, 2017 8:28:39 AM

The importance of analytics for sales organizations is clear and, as I pointed out in my recent analyst perspective on the next generation of sales analytics, these capabilities optimize revenue potential. However, utilizing sales analytics requires a set of data skills that most organizations still find challenging and are thus not fully prepared to support. The efficient access and preparation of data underlies any analytics processes, which must meet demanding needs that are not always automated. Our research into next generation sales analytics has found many impediments that must be addressed and is a critical part of our expertise agenda for sales organizations.

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Topics: Big Data, Sales, Machine Learning, Office of Finance, Analytics, Cloud Computing, Collaboration, Product Information Management, Sales Performance Management, digital technology, Digital Commerce, Sales and Operations Planning, Machine Learning and Cognitive Computing, Sales Enablement and Execution, Sales Planning and Analytics

Effective Compensation Systems Transforms Human Capital Management

Posted by Mark Smith on May 2, 2017 1:51:55 AM

Compensation management is essential for any organization that values engaging and retaining its employees. It is a fundamental component of a range of personnel-related activities – recruiting and hiring, assessing performance, and career and succession planning. Determining and providing appropriate compensation, which may involve base pay, merit pay, variable pay and incentives or bonuses, is equally important for all members of the workforce – full- or part-time employees, contingent or on-demand workers and contractors. Incentives are an important part of compensation. Business areas such as call centers, sales forces and field service frequently tie incentive compensation to performance objectives. Whatever the particulars, the effectiveness of compensation directly relates to the core challenge faced by human resources departments: keeping employees productive, satisfied and motivated.

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Topics: Human Capital Management, Office of Finance, Learning Management, HRMS, Workforce Management, Work and Resource Management, ERP and Continuous Accounting, Payroll Optimization

New Generation of Sales Analytics Can Optimize Revenue Potential

Posted by Mark Smith on Apr 27, 2017 11:22:59 AM

I have been following advances in sales analytics since the 1990s. Over the last five years, however, I have seen evolution, not innovation. In most cases the information that analytics provides is too complicated and not contextualized enough for sales people who are not analytics experts to understand, let alone take action on. As I pointed out in my 2017 research agenda on sales, analytics is essential for planning that improves the impacts of sales efforts and meets the goals of the organization.

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Topics: Big Data, Sales, Office of Finance, Analytics, Cloud Computing, Collaboration, Product Information Management, Sales Performance Management, Digital Commerce, Sales and Operations Planning, Machine Learning and Cognitive Computing, Sales Enablement and Execution, Machine Learning Digital Technology, Sales Planning and Analytics