04 Dec Impact of Data Strategies in 2020 – Part 1
Over time, technology is becoming better and more innovative. It is very promising for delivering new business results through constant experimentation with technology. However, it will require organizations to change the way they operate and face another set of challenges in doing so.
One such challenge is the islands of automation. Eighty percent of companies will realize this threat and determine that they are no longer susceptible to island automation. Firms will set up an automation strike to face this problem. The experts, like robot architects and automation jump starters, will further enhance and strengthen robotic process automation RPA tools for companies.
As the CX culture continues to increase, the number of CX executives are predicted to grow by 25%. They will demand the the CX culture of their organization move out of the exponential phase and accelerate fast to top the bottom-line growth.
Where CX is proving to be beneficial for most companies, its complexity is daunting for some. Firms that are unable to benefit from CX will cut their programs in frustration. And those who see potential in CX will double down.
This will result in the extreme bifurcation of the leaders. They will keep getting better in the industry and customer service. There is innovation expected in marketing campaigns and customer experiences, which will be built by the right combination of technology, creativity, and deep customer understanding.
With so many advances in data strategies, there is no doubt that companies are going to double their data strategy budget. They will combine AI with data strategies to accelerate their market value. However, this will result in an increase in privacy concerns, data hacking issues, and scams.
Read more about this in Part 2 (Coming soon)
This post is based on Forrester’s new report Predictions 2020: CIO