R "Ray" Wang
R "Ray" Wang
Research Summary: Why the Move from Transaction to Experience Requires Better Analytics
Forward And Commentary
This trends report examines how changing expectations among business leaders and the consumerization of IT will shape the future of insights and decision-making. As organizations make the move from transactions to engagement to experience, a new type of analytics will be required.
A. Introduction
Business leaders seek better insights for smarter decision-making. Unfortunately, today’s traditional intelligence tools were designed for two-dimensional transactional systems. As data from consumer trends such as mobile, social, cloud, big data, and video make their way into the enterprise, organizations seek new tools to discern insight from these new engagement and experiential systems.
The shift from transaction to engagement to experience depends on better business analytics. Success requires that new business analytical tools support the information supply chain as data moves from a cacophony of upstream data sources to new and innovative downstream modes of consumption.
B. Research Findings – Why the Move from Transaction to Experience Requires Better Analytics
Leaders seek more than just reporting and dashboards, they expect to make real decisions. A recent Constellation Research survey identified key expectations from business analytics to include: supporting business strategy and planning; optimizing costs across the value chain; identifying hidden patterns and relationships in big data; providing context for relevant engagement; and predicting demand in networks. Along with these key trends, the report discusses the:
- Five Consumer Forces Influence the Future of Analytics
- How Business Leaders Move Beyond Simple Reporting and Dashboards in Their Expectations of Business Analytics
- Why Organizations Seek Insight to Make Better Decisions in the Shift from Transaction to Experience
- How Big Data Provides the Key Element in Moving from Real- Time to Right-Time
Figure 1. Moving From Transaction To Experience
(Right-click to see full image)
The Bottom Line: Business Analytics Must Support Decision-Making Across the Information Supply Chain
The shift from transaction to engagement to experience depends on better business analytics. Success for business leaders requires that new business analytical tools support the information supply chain as data moves from a cacophony of upstream data sources to new and innovative downstream modes of consumption (see Figure 7).
- Classify. Incoming information must be tagged and associated with relevant metadata and context.
- Transform. Information must be converted to standard and conventions that can be consumed by all sources.
- Augment. Related information must be attached to the data.
- Secure. Access to, securing of, and masking of information must be applied.
- Deliver. Information and insights should be delivered to the relevant input nodes.
- Refresh. Periodic updates to information must be performed to keep data relevant.
C. Report Links
See how analytics play a major role in the shift from transaction to experience. Buy the full research report on the Constellation Research website.
Your POV.
How are you using analytics to improve engagement and experience? Let us know your experiences. Add your comments to the blog or reach me via email: R (at) ConstellationRG (dot) com or R (at) SoftwareInsider (dot) com.
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