February 14, 2018

Deep Thoughts about the Future of Data

Marketers Want Outside Help with Data Centricity: Winterberry Report for IAB and DMA

DMA

If you’re expecting some cutesy Valentine’s Day theme today, you’re reading the wrong newsletter. We’re going in the opposite direction with Deep Thoughts about the future of business and society itself. We’ll ease our way in with a Winterberry Group study from the Interactive Advertising Bureau (IAB) and Data & Marketing Association (DMA) about data-centric organizations. They found a sharp decline since last year in confidence that companies had the analytical skills, strategy, and technology needed for data-centric success, although the small sample may mean it’s just statistical noise. On the bright side for Customer Data Platforms, they found that strong interest in dissolving data silos, centralizing data management infrastructure, and using third parties to help with all the above. So I guess we’re spreading a little love today despite ourselves.

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Retail Sales Shifting to Direct Brands: IAB Study

IAB

That Winterberry report was a relatively long 35 pages, but it’s a greeting card compared with the 177-page behemoth the IAB just published on the 21st Century Brand Economy. Their central point is that brands will interact directly with consumers, removing many barriers that formerly protected market leaders from competition. IAB supports, or maybe undercuts, its argument by noting that non-store sales grew from under 4% of retail in 1992 to 9.4% in 2015. Success will require direct marketing skills, trust-building, smarter ad buys, and lots of data.

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New Technologies Will Change Business’ Relations with Customers: Accenture Study

Accenture

Accenture weighed in with its own 78 page epic, a Technology Vision offering five snappily-named trends including Citizen AI, Extended Reality, Data Veracity, Frictionless Business, and Internet of Thinking. They see companies integrating themselves deeply into their customers’ lives, requiring new levels of trust, technology, and, of course, data.

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