Data drives the economy of this century just as oil was to the last one. If you are not leveraging data today for positive changes and business growth, you are still on horse carriages of the yesteryears. The impact of data and its benefits are rapidly unfolding. Is your business prepared for the data economy?
To benefit from data, there must be a coherent and systematic way to capture, store, process, combine, analyse, distribute and visualise data. In marketing, this spans across numerous customer touchpoints both online and offline. However, more does not mean merrier, if the data quality is lacking.
- – Do you have a consistent way to capture customer data?
- – Do you collect a universal set of customer data across the touchpoints?
- – Do you collate and combine the data to form a singular and consistent view of a customer?
- – What type of data will serve to inform the desired business question or goal?
- – How will the data be used to drive business decisions?
- – How do you know which decision to make based on the data?
- – What are the factors to determine the reliability of that decision?
- – Were the data captured and used in a legally and privacy compliance manner?
- – Do you have a data czar and data stewards to safeguard your data?
Given the multiple customer touchpoints where data streams in for your marketing team, having your marketing technology platforms speak to each other and exchange data in real or near real-time is crucial. The lack of seamless integration gives rise to data silos and foils your data strategy.
How integrated is your marketing tech stack? If you need to develop a marketing data strategy or integrate data across systems, we are here to help you.