Riding the Digital Data Tidal Wave

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The battleground for customer experience is on and those who emerge victorious will use data as their secret weapon. As today's marketers explore the world of digital engagement, data has become the competitive differentiator in how effectively companies engage with their customers.
Data Analytics

The battleground for customer experience is on and those who are emerging victorious are using data as their secret weapon. As today's marketers explore the world of digital engagement, data has become the competitive differentiator for how effectively companies engage with their customers.

As Judith Aquino points out today, more companies are increasingly turning to data-drive insights to drive profits. She spoke to four data scientists about how businesses should be thinking of data science as it evolves, and included their insights in her article.

Jared Bowden, data scientist at Adlucent, said data-based decision-making is the new normal for business. "The ways that we use this data will continue to evolve, as will the perception of data practitioners. In general, I think we've found that the field is too dynamic to pin down, and the skill set is too diverse to delineate," he said.

A growing number of companies are increasingly turning to data to drive insights to drive profits. I recently attended Forrester's Digital Marketing Forum in New York and while there, marketers spoke about the importance of data in advancing customer engagement.

Harry Tennebaum, head of business analytics at NEST, said that one of the first priorities in digital is making sense of all the data, otherwise, he said, "You'll be swimming through this data and you'll have a hard time parsing out."

Tennebaum added that it's important to create insights and actions from the data. "How do you share that across the organization? It's difficult to provide stakeholders with data and insights they need," he added.

Lilian Tomovich, CCO, of MGM Resorts, discussed how the company completed a touchscreen installation project in February throughout its Aria resort. Guests can use the tablets to control the room temperature, order room service, buy show tickets, make spa reservations, and more. As such, the company has an even greater richness of data. "All of a sudden, we have all this data coming toward us and we have an opportunity to optimize," she said. "We're learning what they access, when they access, how they use information, and their path to purchase."

George Corugedo, CTO, at Redpoint Global, also attended the conference and spoke to me about the importance of deciphering context in this sea of data, especially now that companies are starting to really extract data from the Internet of Things. "Marketers are on the front lines, they're dealing with data in real time, they don't have time to take the data and get it back to IT. We're bringing some of those MDM tools that IT controls and bringing easy to use versions to the front lines for marketing because of that context relevance question," he said.

Today, a growing number of marketers are understanding the value of the data they're managing. The real advantage is in successfully navigating that sea of digital data, putting context to it, and uncovering hidden truths. Then, digital data insights will start to drive real change in organizations.

EXPERT OPINION
EXPERT OPINION