PR Newswire
02 Aug 2023, 12 GMT+10
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Eighty-four percent of technology leaders expect a budget increase in 2024; AI will snag the biggest increase
SINGAPORE, Aug. 2, 2023 /PRNewswire/ -- According to Forrester's (Nasdaq: FORR) 2024 Planning Guides, more realistic budget expectations will serve leaders well as they enter 2024, but now is not the time to hunker down as stakeholder expectations for growth remain steadfast. Additionally, to accelerate growth and keep pace with the evolving expectations of empowered digital customers, leaders should consider investing in and experimenting with AI. A versatile AI approach can deliver a broad range of solutions across operations that create customer value, cut inefficient complexity, and drive innovation.
Forrester's Planning Guides help leaders across technology, marketing, digital and customer experience (CX) functions during annual budgeting and prioritization cycles. They provide relevant benchmark operational data and recommendations for areas to experiment, deepen, or divest budget allocations for the coming year. Key insights from Forrester's 2024 Planning Guides include:
Areas to increase investment in 2024:
Areas to decrease investment in 2024:
Areas for experimentation in 2024:
"Looking ahead to 2024, while the macroeconomic conditions look more promising than the year before, budgets are likely to remain tight," said Dane Anderson, senior vice president of international research and product at Forrester. "Given the continued economic volatility, leaders need to prioritize investments that create customer value, improve efficiencies, and create differentiation. Forrester's Planning Guides provide detailed guidance on where to invest, pull back, and strategically experiment to grow and succeed in the coming year."
Resources:
About Forrester
Forrester (Nasdaq: FORR) is one of the most influential research and advisory firms in the world. We help leaders across technology, customer experience, digital, marketing, sales, and product functions use customer obsession to accelerate growth. Through Forrester's proprietary research, consulting, and events, leaders from around the globe are empowered to be bold at work - to navigate change and put their customers at the center of their leadership, strategy, and operations. Our unique insights are grounded in annual surveys of more than 700,000 consumers, business leaders, and technology leaders worldwide; rigorous and objective research methodologies, including Forrester Wave evaluations; 70 million real-time feedback votes; and the shared wisdom of our clients. To learn more, visit Forrester.com.
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