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Subject: Economic News/Analysis

Forrester's 2024 Planning Guides: Economic Uncertainty Tempers 2024 Budget Expectations ? Except In Technology

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, customer experience (CX), product, and sales 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:

"While most leaders in every function expect at least some increase in overall spending in the next 12 months, budgets will be tight next year," said Sharyn Leaver, chief research officer at Forrester. "Given the continued economic volatility, leaders need to be extra cautious and prioritize those 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."


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 Wavetm evaluations; 70 million real-time feedback votes; and the shared wisdom of our clients. To learn more, visit Forrester.com.

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