The Importance of a Vision in Your Business

Gartner releases their annual Magic Quadrant to analyse the top technology providers in terms of their ability to execute their services and the completeness of vision. This analysis is done on the providers of data analytics, AI, and technological services. This Gartner Magic Quadrant provides a graphical competitive positioning of four types of technology providers, in markets where growth is high and provider differentiation is distinct. This research helps you to get quickly educated about a market’s competing technology providers and their ability to deliver on what end users require today and in the future. The report provides the following insights:

Understanding of the vendors and their completeness of vision and ability to execute on data and analytics service projects

The Magic Quadrant is itself a data analytics tool. How do you measure “ability to execute services” and “completeness of vision”? After all, you can’t just ask the company, “how complete is your vision?”. It is through data analytics that Gartner can answer the question and score each company.

• Gartner must first come up with their evaluation criteria, which means they need to work out what data they want to gather. This also involves working out how important each point of data is in answering the question.
• Then they go out and gather that data by talking to and understanding the companies, as well as some of the customers of the companies.
• Once the data is gathered, they use their own technology to analyse it, and score the company in the 2 areas.

The strengths and cautions of AI and analytics services providers

Of course, just knowing where a company lies inside the Magic Quadrant does not give the average person enough information to assess how suitable the company is to them. That’s why Gartner also releases a list of the company’s strengths and weaknesses in the field of AI and analytics. It gives a more detailed look at why the company scored what it did.

A low score in one area doesn’t make them bad, and in fact low scoring companies often provide a unique service that the others do not. These are the “challengers” (strong ability, weaker vision) and “visionaries” (strong vision, weaker abilities). With the right direction, they too can become leaders in their field.

Insights from Gartner to accurately assess the providers in the current market and their potential to shape the market in the future

If you observe the Magic Quadrant, you will see that generally, completeness of vision and ability to execute go hand in hand. One reason that this is the case is if your business is driven by a particular purpose, then you are more likely do the work towards achieving that vision. No matter what the culture of your company is, adding a purpose that drives your business will lead you to performing better. Keeping the purpose of your business at the front of your mind in everything you do means that you will keep moving towards that goal and won’t stray.

Ask yourself, why do you do what you do? Dig deeply. A complete vision will not only be your long-term goal, but your methods of achieving that goal.

Take Collappor8 as an example. We provide many different services to help clients improve their business, like in strategy, accounting, and operations. But at the core, our business is driven by our vision: “Doing good is good for business”. We strive to do good by our community, supporting people who are in need and providing our professional services at affordable rates. We believe that doing good also builds your reputation and so our business will thrive as a result. And in turn, with a more successful business, we will be able to continue doing good for the community.

Our pathway for achieving this vision is through 2 methods: protect the brand and keep the customer. When we keep these 2 methods in mind, we keep our clients happy. We deliver to them not only what they think they need, but what will actually help their business improve. And we maintain our reputation as out-of-the-box thinkers who can deliver solutions that work. That way our customer base expands, and we grow as a company.