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February 24, 2014, Article

Article

Key data trends for marketers

Erich Wasserman, Chief Revenue Officer, MediaMathRead on The Drum

Connecting the dots
As data volumes continue to rise, the biggest priority for marketers will be extracting data insights to personalise communication with consumers across channels. With the development of more effective ‘keys’ that bind data to specific individuals and access to new technologies, marketers will be able to traverse the complete customer journey, and connect online and offline data across multiple products and brands, from a range of sales and marketing channels. Designed to resolve a multitude of data down to customer level, these precision systems will bring ‘nano-targeting’ and ‘nano-insights’ to the fore.

Activation of data in the moment
Technology platforms must enable marketers to pull out relevant and actionable consumer data – online, in-store or via a smartphone – and then activate it at the point of customer decision-making. To drive performance and success, marketers need to better understand and analyse not only the data itself, but also the system infrastructure and processes surrounding real-time data extraction, delivery and presentation. Learning how to enhance a single customer interaction, in the moment, will return optimal results for all.

Enabling of workflow at every level
As data activation enters the mainstream, all professionals– from marketers and product managers to chief executives and finance officers – should have access to multi-functional manipulation and analysis tools. The easy interpretation, extraction and utilisation of this data pool will enable them to work more effectively; and the identification of an enterprise software company will help distribute data across every facet of the company.

Power models on the rise
There will be an increase in the use of modelling power to leverage data. From fraud detection and lookalike modelling to predicting consumer actions, there will be an improvement in the quantity and quality of data. Through greater de-averaging of aggregate consumer populations, it will not only become easier to set apart targets from non-targets, but also become significantly more precise in resolving important differences among target populations.

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