According to Forrester, a System of Insight (SOI) “is more than technology; it is a business capability composed of people, process, and technology” and it combines these three elements to drive business actions. (Source: “Digital Insights Are The New Currency Of Business”, Apr 2017).
In his speech, which was presented during the Cogito AI Day in Milan last October, Forrester’s Boris Evelson, VP, Principal Analyst Serving Application Development & Delivery Services, explaines how a system of insight can harness big data and use strategic information to produce tangible business results.
From data driven to insight driven
Forrester estimates that insight-driven companies will capture$1.8 trillion in 2020. This represents an incredible opportunity – that data-driven companies don’t have – to increase revenues and improve customer engagement. But how can companies transform themselves from being just data-driven to insight-driven? Data volumes continue to grow, but less than 10% of unstructured and less thea 20% of structured data are being turned into information that companies can use. Organizations are still challenged to manage their big data, so it’s understandable that a lot of it is not being processed.
Watch the video of the full speech of Boris Evelson to understand how insight-driven approaches, thanks to an effective system of insight and Artificial Intelligence applications, can give you the opportunity to transform your business!