Table Of Contents 3Executive Summary4Key Findings5Limited Insights Produce Limited Change8Omnichannel Intelligence Platforms Connect ConsumerBehaviorsAndDriveStrategy11CompaniesWithOmnichannelIntelligenceToolsAreSmarter, Faster, And Drive More Growth14It's (Virtually) Unanimous: Leaders Plan To Invest InOmnichannel IntelligenceTools ToDrive Business Results16Key Recommendations18Appendix Project Team: Mandy Polacek,Senior Market Impact Consultant Steve Mullahoo,AssociateMarketImpactConsultant Contributing Research:Forrester's B2C Marketing researchgroup ABOUTFORRESTERCONSULTING Forresterprovides independent and objective research-based consulting to help leaders deliverkeyoutcomes.Fueled by ourcustomer-obsessedresearch, Forrester's seasoned consultantspartnerwithleaders to execute their specific priorities using a unique engagement model that ensures lasting impact.For more information, visit forrester.com/consulting. Forrester Research,Inc.All rights reserved.Unauthorized reproduction is strictlyprohibited.Information isTechnographics, Forrester Wave, and Total Economic Impact are trademarks of Forrester Research, Inc.All othertrademarks are the property of their respective companies.[E-57553] Executive Summary Leaders face tough investment decisions during a time of economicuncertainty and continuing declines in customer experience (CX) quality1 Asthey strive to improve Cx to drive business results, a harsh environment ofincreased competition, fast-changing consumer journeys, and the evolutionof new touchpoints has added more complexity to managing business in theomnichannel marketplace. Executives need to keep up with the high-pacedenvironment or their organizations will erode their market performancepenetration, and customer loyalty and fall short of growth objectives. In June 2023, NlQ commissioned Forrester Consulting to evaluate howleaders are evolving their use of technology and insights to improve CX andbusiness performance. To explore this topic, Forrester conducted an onlinesurvey with 202 North American omnichannel leaders at organizations in theretail, CPG, and financial services industries. We found that most respondents' companies struggle to capture and makesense of consumer-behavior insights across online and in-store channels.and this makes them slow to react to market changes and unable to justifydecisions to drive significant organizational change. However, those thathave invested in omnichannel intelligence solutions that bring togethercross-channel data to understand performance and inform strategy havemore developed strategies, can more easily pivot when facing change, andhave actionable insights they use daily to improve loyalty and the entireconsumer experience. Key Findings Most companies lack a clear, complete picture of the consumerexperience. Cobbling together a clear picture of consumerbehaviors is challenging. Ninety-five percent of respondentsomnichannel measurement. Most use multiple tools to piecetogether the journey and only 24% track behavior across bothe-commerce andbrick-and-mortarchannels. Companies with omnichannel intelligence solutions betterunderstand the omnichannel experience and are muchbetter equipped to empower change. Tools that provideholistic insights drive quicker business decisions and influencegrowth. Companies with omnichannel intelligence tools have abetter understanding of the full CX and their own marketplaceperformance, which makes them twice as likely to haveomnichannel strategies and roadmaps. They are very equippedlikely to have improved messaging and nearly three times morelikely to have improved marketing. Meanwhile, firms withoutomnichannel intelligence tools are twice as likely to be slow toreact to changing consumer behaviors. Ninety-nine percent of leaders plan to invest in omnichannelintelligence. Respondents understand the value that data andtechnology brings to business strategies. Those from companieswith omnichannel solutions have already seen more consistentCX (61%); improved ability to create long-term, data-drivenstrategies (47%); and improved customer loyalty (36%) Limited Insights Produce Limited Change Improving market performance requires a full picture of ever-fluid marketdynamics combinedwitha deep understandingofevolvingconsumerbehaviors across touchpoints. But it's challenging to piece togetherthis picture because of disparate data, conflicting business objectives,and anoverabundance oftoolsthatpreventcompaniesfromfullyunderstanding and improving Cx delivery. In our survey, we found thatomnichannelleaders: Struggle to keep pace with changing market, consumer, and businessneeds. Various headwinds like economic uncertainty, rise of touchpointsand changing business needs create a difficult environment forcompanies to swiftly pivot on their business strategies. In our survey,52% of respondents said it's very challenging or extremely challengingtorespondtomarketchangesquickly,andbecauseofthis,55%saidit'schallen